Verge & Reddcoin - 2018 Investment Opportunity?

in #xvg7 years ago

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Verge (XVG) is an optional anonymous, secure, private and open source decentralised POW (Proof of Work) cryptocurrency. Backed by a strong supporting community and development team.

Verge is an interesting Crypto Currency, that's trying to differentiate itself from other privacy coins. Its price on November 23, 2017 was about $0.00505 usd. It eventually hit an all-time high of $0.30 usd on December 23, 2017. In a stretch of 25 days, from December 20, 2017 to January 13, 2017. The price hovered from $0.16 to $0.30 usd. They are in direct competition with other cryptocurrencies such as Monero, Zcash, PIVX and Dash etc. Verge's unique Wraith Protocol stands out among the rest.

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Wraith Protocol

  • Verge has one unique privacy and anonymity features that makes it stand out above the rest. The Wraith Protocol, highly innovative software development. It basically allows the combination of a Public Ledger and a Private Ledger on one single Blockchain, where the user can choose either one by turning Wraith Protocol on or off.
  • For example: You can purchase something from a corner store or online, with the Wraith Protocol feature turned off. This will record the transaction on the Public Ledger. If you wanted to invest a sum of money and remain anonymous for the transaction, you simply turn on Wraith Protocol and this transaction heads to the Private Ledger. You remain private and anonymous. The IP addresses are also hidden, by way of Tor Integration.
  • Verge makes it so you don't need multiple different coins, one for private transactions and one for none private transactions such as retail stores where you want a receipt, for warranty purposes. This is why Wraith Protocol is a very innovative piece of work.

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Verge follows Satoshi Nakamoto's original vision

  • Verge's XVG has ultra-fast 5-10 second transaction speeds, depending on network loading.
  • Verge's transactions capacity is 100 transactions per second. It is projected to eventually reach 2000 transactions per second by implementing (Rootstock) RSK technology.
  • The maximum supply of XVG is capped at 16.5 billion. Verge estimates this maximum supply will be reached in 8 to 10 years.
  • Transaction fees are 0.1 XVG.
  • Verge wallets feature and integrated Tor and I2P networks.

Smart Contracts

  • This project is still under development. Not much is knows at the moment. The name used in Verge's road map is RSK Smart Contracts. From the platform called Rootstock (RSK): is a smart contracts platform. Currently Verge is waiting on the development Rootstock's Turing Complete Virtual Machine to Bitcoin. This development will help determine Verges Smart Contract time frame and implementation.
  • The question is whether this Smart Contract platform will enable others with private/anonymity/obfuscated IP. This is not knows at the moment, and will eventually be determined.

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  • Reddcoin (RDD) is considered as a social digital currency that strives to make it easy for the general public to utilize. This digital currency platform is seamlessly integrated with all major social networks. It makes the process of sending and receiving DRR fun and rewarding combined.
    Reddcoin is another one of my favorite picks. It started back in early 2014, at a price of approx. $0.000028. At one point in 2015, it hit a low of $0.000008. On January 7, 2018 RDD hit an all-time high of $0.032391 usd. A $500 investment at $0.000008, for example, would have made anybody over $2 million based on the all-time high.
    What makes Reddcoin stand out?

PoSV (Proof of Stake Velocity)

  • An innovative algorithm designed by the core team of Reddcoin, in which is replaces POW (Proof-of-Work) as the mechanism of transaction verification and create blocks. This encourages both the ownership (Stake) and activity (Velocity), increasing your change of finding valid blocks and receiving rewards. This eliminates the need for buying GPUs or ASIC for hashing power. All you need is to have your Reddcoin's in a running wallet, connected to the internet for participation. The amount of coins in your wallet determines the staking reward.
  • This process not only eliminates high electricity costs and power usage, but simply utilizes a little bit of your CPU for the staking process.

Tip Platform

  • This is a decentralised tipping platform where people can seamlessly send and receive Reddcoin's on Social Networks to anyone in the world. It also supports content creators via micro-donations.

Redd-ID

  • This tech is highly innovative in my honest opinion and stands out. It's a unique service provided at the blockchain level. It allows users to associate a username with public keys and social network identities. The picture shows a working sample of Redd-ID.

ReddWallet

  • One major issue with Cryptocurrencies is how to store them. For the average individual and the not so tech savvy people, a digital crypto wallet is confusing and somewhat annoying to setup. I've spoken to enough people, where the mention of such wallets was an instant turn off from Crypto. Though a multi-platform wallet such as Coinomi did increase interest with some.
  • The ReddWallet is an innovative wallet that is not only easy to use, but has added social features including IRC chat (Official Reddcoin channel), news feeds, official announcement feeds and twitter feeds.
    What Reddcoin is trying to achieve here is extraordinary. They are trying to achieve seamless wide adoption of Reddcoin.
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Wallets leave a lot to be desired

Crypto wallets shouldn't be difficult and discouraging to use. Such as the need to download the entire blockchain onto your PC. Another major issue is backing up the wallet.dat file. Lose this file or it somehow becomes corrupt, and you lose your coins. Unacceptable and none tech savvy friendly. Better cold storage options, where you can safely generate a public key to receive funds all while placing private keys in cold storage, away from prying eyes.
Reddcoin is in the process of trying to fix these issues. To make Reddcoin as easy to use, store and stake as possible. That's the Reddcoin Goal.

Various Reddcoin Development updates

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Both Verge & Reddcoin have been subject to massive negative speculation and rumour. After researching both coins, I consider them a sound 2018 investments. I hold both in my diversified crypto portfolio.

NOTE: This isn't financial advice by any means, just my personal opinion with some internet research.

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