The key difference between Verge and bitcoin
Before you exchange XVG to BTC you should learn the history of these to cryptocurrencies.
Launched in 2009, Bitcoin can be truly regarded as the father of all cryptocurrencies as it was the first ever in the space. It was a real breakthrough in the payment technologies as it has given its users the possibility to change value without involving any middlemen.
On the bitcoin network, you can see the information about every transaction as it is all written into the public ledger. You can track how cryptocurrency changes its owners, but it is very difficult to identify who the true owner of this whole the other wallet is. Difficult, but not impossible.
Verge is the fork of Bitcoin which is designed to make transactions truly secure and untraceable. To provide users with secure transactions, Verge utilizes two approaches to make connections anonymous – Tor and I2P.
What is Bitcoin mining algorithm?
If you want to switch Verge to Bitcoin, you should also learn about the mining algorithms that stand behinds these cryptocurrencies.
The algorithm Proof-of-Work (PoW) that underlies the Bitcoin technology implies spending electricity on specific hardware in order to resolve computational problems. The result of such work is the block where the information about transactions can be written to. The owner of a machine that has found that block gets his reward in bitcoins.
The problem with this algorithm is that the more blocks are found, the less profitable the whole process becomes. The reward that you get is less than what you spend on electricity.
What is Verge mining algorithm?
Unlike Bitcoin, Verge can be obtained on the end-user hardware and you don’t have to buy special ASICs for that. Verge is based on the multi-algorithm consensus which allows miners find new blocks in five different ways. These algorithms are Scrypt, X17, Lyra2rev2, myr-groestl and blake2s.
It is questionable whether mining Verge on your own is still profitable, but you can always join the mining pool in order to get guaranteed income.
The circulating supply of Verge equals to 16,153,899,159, while its maximum supply equals to 16,555,000,000.
For Bitcoin, the circulating supply equals to 18,175,587, while its maximum supply equals to 21,000,000.
If you want to convert BTC to XVG, the market capitalization is a very important index that you should pay attention to.
For Verge, the current market capitalization equals to $60,995,034.00. Bitcoin’s capitalization equals to $157,418,709,699.00.
Volume of transactions
During the last 24 hours, Litecoin’s volume of transaction equals to $1,022,196.85. For Bitcoin, this index equals to $24,400,479,932.81.