XVG vs. BTC: Differences You Shall Know Before Choosing a Coin to Invest In
Cryptocurrency and blockchain have turned this world upside down. Who would have thought that just two innovations could so accelerate the movement of mankind to a new era of technology? XVG and Bitcoin are two digital coins. But is there a difference between them, and is it profitable to exchange XVG to BTC?
What distinguishes Bitcoin from other cryptocurrencies?
- Bitcoin can’t be disabled. The Internet would have to be shut down worldwide for the network to stop functioning. But the reality of such a scenario is close to zero. Without the Internet, the current financial system would also collapse.
- Bitcoin is decentralized. It is free from a central issuing institution, independent of banks, governments, etc. It is based not on trust in a group of people or institutions but on the power of mathematics and cryptography.
- Network security. Attempting to falsify a ledger transaction is nothing more than wasting resources looking for solutions to cryptographic puzzles, only to watch network nodes reject them, preventing them from fraudulently obtaining new Bitcoin rewards.
- Bitcoin was created as a limited currency – 21 million coins will eventually be mined (it is estimated that 99% of Bitcoins will be mined by 2030 and the last by 2140). On average, every 4 years, there is a so-called halving, that is, the moment when the mining reward is halved. Bitcoin can’t be printed, and its limited supply makes it an inflation-resistant asset.
- The transaction log is available to anyone in the world. It can be used to track the path of each Bitcoin in circulation, provided that the register doesn’t contain the names and surnames of the owners of the cryptocurrency but only a sequence of numbers and symbols (public wallets).
Some cryptocurrency enthusiasts positively assess the prospects of the Verge project. They highlight the following advantages of altcoin:
- An extended period of existence. For 4 years, developers have implemented many changes and don’t stop there. The noble ideas of the Verge team differ from other startups, where the founders’ interest lies only in maximum earnings.
- Maximum anonymity. Despite the presence of competitors in the cryptocurrency market, the Verge project allows you to achieve confidential transactions. Thanks to the combination of many cryptographic algorithms, it is possible to eliminate the interference of the state and interested parties in operations. Their use allows you to hide the account owner and exclude tracking of the transactions.
- Full decentralization. Verge is an open-source platform and doesn’t depend on individuals or financial groups. Even the developers are not united in a single company and promote the project’s development at their own expense.
- Great prospects. Soon, in addition to exchanges like https://letsexchange.io/, VXG coins will appear on social media. The Wraith digital wallet is being developed. The Verge team promises to systematically improve the technical indicators of the payment system. Today, experts are discussing increasing the throughput to 400 transactions per second, and the next stage is 2 thousand transfers. There are plans to open an official mining pool and own software.
- Among the most high-profile plans of the developers is the inclusion of the option of smart contracts, which will make it possible to debut on the market of anonymous “smart” contracts. For this reason, the project is often called undervalued, and soon, they expect a rise in the value of tokens.
BTC differs from other cryptocurrencies. Still, it remains the best digital asset in the world in terms of capitalization and the level of trust among investors. But this doesn’t mean that other coins are in its shadow or compete with it for the place of the leading cryptocurrency. They just solve different tasks. So, it’s up to you which coin to buy.