When it comes to choosing a cryptocurrency project for investing in, many unseasoned investors find it challenging. The sheer number of platforms, the magnitude of what they offer and the lack of understanding make this task even tougher. Worse still, it’s not easy to tell which projects have the potential to do well and which ones could end up being hot air. Well, two cryptos, Verge (XVG) and NEM (XEM), have proven that they can hold their own in cryptocurrency. Read on to find out why their future looks bright.
NEM (XEM) is one of the “new” cryptocurrencies that have the potential to compete with established powerhouses like Ethereum. The NEM project is a smart asset blockchain-based platform that was designed with Enterprise use in mind.
What gives NEM an edge?
NEM’s unique blockchain Technology
Many of the cryptocurrency projects on the market try to either fall under proof of work popularized by Bitcoin, or proof of stake and its variants. However, NEM utilizes proof of importance consensus algorithm, a unique protocol that works to ensure the network’s security and health are safeguarded. The uniqueness doesn’t end here. The platform also boasts of distinctive features like EigenTrust++ reputation system, Multisig accounts, and an encrypted messaging service. What these features achieve is to make the network secure and trustworthy to run any dApps or smart contracts.
Robust scalable network
One of the biggest strengths the NEM blockchain has is its scaling capacity. The platform was designed from scratch, in what we call from the ground up. The idea was to make it as highly scalable as possible. For that reason, the network is able to handle up to 3000 transactions per second. This is vital as more and more applications launch on the platform- there are no scaling problems as those that currently afflict Ethereum.
Another of the strengths relates to the concept of harvesting. It encourages more investors to buy into the project. For instance, if an investor wants to harvest new blocks, all they need to have is 10000 XEM. With these, they can participate in the network “harvest” of new blocks, collecting fees. It’s one of the factors that will encourage investors to hodl XEM, growing the community and bringing in more businesses.
The role of partnerships for a cryptocurrency can be felt in the event it leads to adoption. In this regard, NEM has entered into great deals with some high profile companies around the world. The team has over 40 partnerships that include Tech Bureau Corp., Paytomat, Blockchain Global, and KChain. All these partnerships have already rolled out services that utilize XEM, making NEM one of the few crypto projects whose deals aren’t rotting on shelves or in vaults. Out of these numerous arrangements, the one that has stood out is Xhai Studios. It’s one deal that could see exponential adoption and use of XEM in the mobile video gaming industry. If worked on well, it could significantly increase NEM’s acceptability.
The trajectory of Verge’s growth will soon be among the best ever witnessed in the crypto industry. While all these relate to its platform, much of that expected growth will come out of the controversial deal the crypto signed in mid-April.
What gives Verge an edge?
Unrivaled privacy and anonymity
The consensus around cryptocurrency, even if some players might not admit it openly, is that Verge offers the best network for privacy and anonymity. As blockchain and cryptocurrency evolve, one of the top concerns for users is privacy, security, and anonymity. This crypto offers all three via its use of TOR, I2P in combination with the Wraith Protocol. Having full control of your privacy appeals to so many, and so is easy to use a public blockchain- Verge has that taken care of too.
Low price volatility
One of the reasons many would be investors shy away from buying crypto relates to the high volatility witnessed from coins like Bitcoin and Ethereum. It’s undoubted that every cryptocurrency has that tendency to suffer price fluctuations. However, XVG has maintained a fairly low rate of wild swings, something that can be a factor when new users look at possible coins to invest. Some projects experience massive growth but wither. Verge doesn’t suffer such possibilities and thus is likely to experience more growth from increased acceptance.
Simple Payment Verification
Many in the crypto circles refer to Verge as the “next Bitcoin”. The majority do so in reference to the coin’s lightning fast transactions. These are made possible via the ‘Simple Payment Verification’ (SPV) protocol. It makes XVG be suitable for adoption for everyday use, opening up more usability. In addition, the platform has low transaction fees.
One thing that makes Verge (XVG)’s future look bright at the moment is its partnerships. The correlation between the adult industry and mainstream adoption of new technology has been widely backed up. Now XVG is already accepted by one of the top sites in the industry. A lot of others have followed and soon the coin will be on a debit card, courtesy of its deal with TokenPay. The rate at which the crypto is being accepted as a payment method can only mean a great future lies ahead.