Verge is one of the most talked about alt coins in cryptocurrency, as people are becoming more and more weary of traditional financial institutions like banks and want to put their hard-earned money in a safe store of value that they control themselves. It made an impressive 1,210,426 percent gain in 2017, rising from $0.000019 to hit an all time high of $0.23. However, the road to success has not been a smooth one. In fact, it has been one of the most drama and fud-filled journeys to shake the cryptocurrency world.

Wraith Protocol

To get an understanding of what went wrong, you have to first understand what makes Verge so special.

Verge is a privacy coin that claims to be the only cryptocurrency that makes privacy an option. While there are numerous privacy coins on the market, none of them provide the option to switch between private and public transactions, it is either one or the other.

With Verge’s groundbreaking “Wraith Protocol,” people would be able to easily switch between making private or public transactions based on their own preference. As you can imagine, Wraith Protocol is a game-changer. Sure, many could argue that Verge’s privacy features are superior to all other coins but it is Wraith that has been the main selling point for Verge.

Delays, delays, delays

Wraith was initially supposed to be released in early November.

The official website even had a countdown for it, and many holders watched eagerly as the countdown ticked to zero, and nothing happened. Eventually, the lead developer came forward and announced that the marketing team had made an error and that Wraith Protocol would be released instead by the end of Q4. First strike.

As the end of Q4 came near, Verge holders started getting antsy again, questioning whether Wraith would really be released by then.

Even up until the last week of 2017, Verge’s developer, Justin Vendetta continued to assure everyone that things were going according to schedule. Then came the 31st. As the hours started to go by, many people clung to their phones as they went off for their New Year festivities, manically refreshing Justin Vendetta’s Twitter page for confirmation of release.

As midnight came and passed, Verge holders were met with silence once again. Only hours later, did the developer send out a tweet letting people know that there were unforeseen delays. Second strike.

Wraith was officially rolled out and completed in January, and although it is live and running, the hype surrounding it is pretty much gone. The coin currently sits at 4 cents at the time of writing - 19 cents lower from its peak.

Verge partnership - the latest scandal

Fast forward to this week, just two months after the whole Wraith Protocol debacle. Verge launched a crowdfunding campaign to implement a partnership with a major company. Verge’s developer reached out to the community asking for a 75 million Verge donation, promising to reveal the name of the company in three days (on March 26) if the funding goal was met by then.

On March 26, the funding goal was met, and everything looked great. Verge released a tweet saying:

People were overjoyed and the price of the coin leaped as people anticipated the revelation. But as the day went by, yet again, there was radio silence on Verge’s end. Finally towards the end of the day, with no explanation whatsoever, the Verge team dropped this tweet:

Okay so a delay of one day.

No big deal, right? But as morning came around, there was still no update on the Twitter page. Finally, in the afternoon, Justin Vendetta tweeted out the promised video - only it was missing one small detail. The name of the partner. In the video, without so much as an apology, Vendetta casually mentioned that they would be announcing the name of the company they had partnered with on April 16 instead. Third strike.

Time to dump?

The Verge team has certainly made huge marketing and communication errors that have turned many investors away from the cryptocurrency, labeling it a "sh*tcoin" or "scamcoin". While the technology behind the coin is solid and undoubtedly has huge potential to be successful, the team needs to make some serious changes in their management.

If this partnership is everything that the team has hyped it up to be, it could land Verge amongst the top five cryptocurrencies in the world. So for now, this coin is a hold. Give Verge the benefit of the doubt, and lets hope that the backlash they got this time around will inspire them to turn a new leaf and actually pull through for the April 16 deadline. This will be their last chance at salvation.