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PornHub Starts Accepting Verge (XVG) for Payments

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Verge

On Tuesday, April 17th, possibly the most critical announcement in cryptocurrency history occurred. Major global pornography conglomerate PornHub stated that they will now accept the cryptocurrency Verge as a means of payment. By nearly all financial metrics, this is relatively middle-of-the-road development. The true power behind PornHub’s entry into the cryptocurrency world comes through the proven historic trend of pornography leading the way for technology’s ultimate adoption. if history once more repeats itself, this may be the moment that brought cryptocurrency to a mainstream audience.

As for Verge, the hints of a major announcement caused a spike in price – over 50% in the span of a few days. Any struggles that XVG may have faced in the immediate past are now a distant memory, as Verge becomes an anonymous, secure method of paying for PornHub content. There’s a saying in cryptocurrency investing; “Sell the news”. Proving true once more, the price of Verge tumbled after the official announcement. This is a known trend, and the price of Verge is likely to build in the face of an actual use case.

Technology Follows Pornography

This is not the first time, and unlikely the last, that porn drove a technological trend. Clearly, the average consumer wants to avoid any exposure when purchasing or even accessing pornography. The less interaction necessary to get what they want, the better they will view the business model. This has always held true, going back to the invention of film itself. To this end, adult theaters were always kept in out of the way locations, hidden from prying eyes. Patrons did their very best to avoid being seen in these theaters. The development of videotapes revolutionized pornography viewing, but more importantly, pornography decided the winner of the first format wars.

By all accounts, Betamax videocassettes were the better choice. They offered higher quality video and audio and a more stable image. Furthermore, even their tape players were of higher quality. Yet it was VHS that the pornography industry chose, and the ability to discretely purchase movies for viewing in one’s own home drove the VHS victory in the first format wars. The dawn of the Internet saw hopeful tech enthusiasts pushing lofty goals like better cultural appreciation, global communication, and research partnerships. Yet it wasn’t lofty goals that drew the public eye. Instead, it was porn that brought the average consumer to the web. No longer required to visit any physical location, users could simply buy their porn online. The last vestige of human interaction was cut, and the Internet boomed. The only remaining issues lay in the ability to track the purchase, and cryptocurrency solves this final problem.

Why Verge?

Unsurprisingly, the porn industry chose a cryptocurrency that focuses on privacy and anonymity. To this end, Verge augments their blockchain by integrating TOR and I2P, privacy networks touted for their ability to evade tracking. At no point can the user be identified, and their transactions are completely obscured from blockchain forensics. These facts make Verge unique, while also being the gold standard for pornography transactions. Users can purchase cryptocurrency, discretely trade it for Verge and buy porn without a trace. Their reasoning could be privacy, shame, guilt or even concern over what may show up on their credit card statement. The use of cryptocurrency alleviates all of these worries.

Mindgeek, the parent company of PornHub, is not the only recent partnership for Verge. Mobile gaming corporation MoreFun abandoned their own ICO in favor of integrating XVG. Instead of spending the time to develop their own proprietary blockchain, MoreFun instead plans to use Verge’s cryptocurrency as a means of making micro-transaction purchases within their games. Newcomer TokenPay helped Verge in their crowdfunding prior to the PornHub announcement, and now seem closely linked to the privacy coin. The two coin companies are now working together to produce real-world debit cards.

The Road to Adoption

Of course, adoption continues in other industries. Ripple’s progress with financial institutions brought it to a position in the top three cryptocurrencies by market cap. Legacy banking networks that suffered from slow transaction speeds increasingly look to Ripple to upgrade their systems. Meanwhile, the father of all cryptocurrencies, Bitcoin continues to dominate the real world payment sphere. Everyone is looking to incorporate blockchains, which is an excellent sign for the future of the technology.

We will be updating our subscribers as soon as we know more. For the latest on XVG, sign up for our Telegram!

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.

Image courtesy of Joel Johnson via Flickr

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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