Verge (XVG) has had a very hard year and has been in the news for both good and bad news. Many users tend to misunderstand the coin but all that is set to change. The coin might be out of the lime light but a lot seems to be happening behind the scenes. After being hit by several attacks earlier this year, the Verge developer team is not taking any more chances.
The coin has been the soft spot for hackers in the market and the community seems to still believe in the technology. Crypto crime appears to be targeting privacy coins with Verge and Monero being the most sought after avenues. This has left many crypto enthusiasts asking whether Verge is safe anymore.
Hack Effects on Verger (XVG) price
With the previous upswing in the market, Verge (XVG) appeared to be headed for a breakout only to shed the gain in the last 24 hours. This is however not an isolated case as all top 50 big players are also trading in the red. Most investors keep shying from Verge but the last few days the coin appears to be gaining some upward momentum.
The relieve appears to have a short term effect on the XVG price which has been cannibalized in the last 24 hour trading period to hit the days’ low of $0.01316075 before climbing to a high of $0.01499653. At press time, the coin was trading at $0.01369082 representing a 7.54% slip to the dollar which is a huge drop compared to $0.095018 recorded on April 14.
Verge Recent Developments
In order to secure their network and restore the diminishing investor confidence, the developer tam at Verge is working on the possibilities of mart contracts in the ecosystem. This is seen as the first step towards a secure ecosystem. If the pan works, the coin mass adoption dream could become a reality in the near future.
For additional security, a new codebase for the Verge wallet is underway. This will come with enhanced security and decentralization as additional features. The old version is not user friendly and the latest version comes with better user friendly features and superb consumer experience.
The Verge Codebase appear outdated and is set for a facelift with a new v.0.13 which comes with better security and options for additional enhancements in the future. This is similar to the Bitcoin codebase and is more robust and will guard the ecosystem against external threats and hacks.
Latest Verge (XVG) News and Partnerships
The last two weeks have seen Verge back in the news but this time on a positive note. The coin has been picked by a Los Angeles band group by making its fans purchase their music using XVG. This is a huge step towards achieving its mass adoption vision. The musical band will give Verge additional mileage and visibility across the globe.
According to the band website and twitter handle, the group says:
“We are so excited to announce that you can buy your music with TokenPay! Pay with crypto and support the mass adoption! @tokenpay @derekcapo $TPAY $XVG.”
The statement urges the Dead day Revolution followers to head to their website and start buying their favorite music using XVG and TPAY currencies. This is a win-win-situation for XVG, TPAY and DDR as they seek market penetration and growing their brands.
Three days ago, NetCent, which is a recognized global digital currency payment platform added support for Verge (XVG). This is a big boost for XVG as it will make more merchants accept the coin as means of cross border payments. The firm has been in the forefront of introducing cutting edge technologies to support crypto usage as opposed to fiat and this will be a good fit for a growing Verge economy.