The recent news about the partnership between Verge (XVG) coin and Pornhub.com made me think about the competition among privacy-based cryptocurrencies and outlooks for anonymous online payments market.
#VergeDay is upon us! Your favorite adult brands are now accepting @vergecurrency to pay for memberships +more and to celebrate we’re giving away over 300K $XVG! RT and follow @vergecurrency to WIN pic.twitter.com/Rvf3iVv0AI
— Pornhub ARIA (@Pornhub) 17 апреля 2018 г.
Meanwhile, Monero (XMR) community on Reddit is boiling and they have their reasons for that.
That 300,000 XVG airdrop plus massive Pornhub brand recognition is a huge promotion for Verge. Some say that they (XVG) have paid for that partnership.
However, the market reacts contrary to the news showing the growth of XMR by 14% and the fall of Verge by 34.5% as for 5:30 AM (UTC-4).
This happened due to a recent hacker attack which resulted in ~250,000 XVG being stolen.
XMR vs XVG
Monero is a team of independent developers and some of their activities are crowdfunded by the community, there were no presale or pre-mine. It was launched in 2014 (April) by a Bitcointalk forum user known as “thankful_for_today” under the name BitMonero.
Verge was 100% funded during their ICO campaign and pre-mine phase. XVG was created in 2014 under the name DogeCoinDark, two years later it had rebranded to Verge Currency.
What about privacy?
Verge team has already implemented two privacy network layer protocols: Tor and I2P. That means your IP address is fully obfuscated and your transactions are untraceable.
Monero’s project “Kovri” that is meant to hide your IP is not yet integrated with Monero blockchain. The release of the alpha version is scheduled for this year and this should leave any competitor far behind.
Moreover, Monero has the special project called the Monero Research Lab and it focuses on fundamental publications for future development of the network.
Verge is clearly aimed at integrating with other projects and developing related projects for other platforms, such as iOS, Android and Electrum.
Worth to mention
– Verge plans to deliver RingCT transactions in Q2 2018
– Monero & Ledger wallet integration is expected soon (however, no ETA at the moment)
There are more differences between, but they are controversial and quite speculative.