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Does it still make sense to HODL XVG after multiple attacks?

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Verge
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Verge is known for its privacy-centric nature. How does Verge achieve this? Well, Verge uses a wraith protocol that runs on Verge’s Blockchain network, you can send and receive payments privately and benefit from the stealth addressing services that the XVG network has to offer. Basically, you can perform quick anonymous transactions at high volumes with low fees making Verge one of the most in-demand coins for crypto enthusiasts.

Attacks on the Verge network

However, recent reports about a breach on the Verge network have led to doubts on whether Verge’s wraith protocol is capable of providing safety and privacy to the network as well. It’s a common understanding in the crypto space that you can only choose one between scalability, privacy, and security. Recent reports of a 51% attack on verge’s network are a clear indication that Verge decided to have privacy over security and this has not helped the altcoin’s growth momentum gain speed of late.

After a series of partnerships with a variety of industry-leading companies including the deal with Pornhub, many crypto investors are still bullish on this crypto coin and for a good reason. To begin with, unlike most altcoins XVG is on its own category. After all, the privacy-centric space is still pretty new and there are only a few coins that can compare to what verge XVG is offering.

Could privacy save XVG?

Among its peers are altcoins such as Monero, Zcash, Dash and Zencash to mention a few. These cryptocurrencies have been the envy of most with such a strong lure to investors. Is XVG’s privacy-centric feature enough of a reason to hold the coin despite recent attacks? Well, probably not but let’s take a look at the journey that Verge has made so far and analyze whether it’s still a good idea to invest in XVG.

Believe it or not, Verge started out as DogeCoinDark. The cryptocurrency was a fork of Bitcoin that was created in 2014 with the main aim of improving Bitcoin’s privacy.  The good news is that the vision and purpose behind what used to be DogeCoinDark has remained pretty much the same even after it was later on rebranded in 2016 into what we know today as Verge coin.

Is Verge truly anonymous?

But the question begs, is verge truly anonymous? Well, although Verge claims to be an anonymous coin it’s not completely obfuscated. Verge integrates an onion routing protocol that is basically an anonymity network run on TOR IP addresses to obfuscate transaction and make them untraceable.

However, while this might work for browsing online, it is certainly not full proof when applied to publicly distributed ledgers. Sure you can obfuscate your IP address, but regulatory officers will only be required to conduct a Blockchain analysis to find out the identity of the transacting parties on the network.

It’s the reason why Monero implements a ring signature on top of its stealth addressing to boost anonymity on the Blockchain and not only in terms of IP addresses. Perhaps Verge can borrow a leaf from long-standing privacy coins like Monero and Zcash to not only build stronger anonymity protocols but to also regain the confidence of its community.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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Bitcoin crash
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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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coins
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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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