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Verge is attacked for the third time: here is why you should not panic

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Verge
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It has barely been a week since Verge was in the headlines with concerns about an attack on its network. Just recently news reports indicated that the privacy-centric cryptocurrency has been attacked for the third time leading to growing concerns by the Verge community over the future of the coin. Verge XVG has been in the headlines lately especially after a post on BitcoinTalk by a user named ‘Ocminer’ claimed to reveal data that showed a 51 percent attack on the Verge network. The claims were confirmed by a post on twitter from @Vergecurrency that acknowledged a DDoS attack on some mining pools.

Are the attack claims Fake news?

With the recent news circulating about Verge’s third attack, the crypto community has become concerned with a series of altcoins being questioned for their level of security as well. Some of the responses on most online forums included users on Reddit who were astonished by the turn of events some even calling it a joke and fake news.

In response, the Verge team has retweeted a post on twitter from Kris Chase (who is the marketing and operations head at verge), in which he mentioned that Verge was building a new codebase that will soon be implemented. He also mentioned that the company is working on other technological developments that will benefit the platform’s security. He finished his post saying,

Let’s get back to work while the haters keep spreading #fakenews.

Apart from that, the verge team has also received mixed reactions from the community with some encouraging the team to keep working on the platform and make it more secure while others criticized the team for allowing the attack to happen for the third time. However, the big question has been whether Verge network is truly under attack or are these reports merely fake news being spread to hurt the value of XVG.

Verge coin moving forward

All in all, the stories about an attack on Verge’s network for the third time are not confirmed and however they turn out to be, it’s pretty clear that Verge is making progress amidst the turbulence. As it is Verge has recently been listed as the only cryptocurrency payment option on MyFitStuff.

For the uninitiated, MyFitStuff is an e-commerce shopping platform that only focuses on selling merchandise in the fitness industry. The platform is now set up to accept Verge XVG as payment on their Los Angeles based online shops. This adds up to other partnerships that Verge has been working on over the past few months posing a positive picture for the privacy-centric coin.

In the long run, there is no coin that is perfect, and even though the XVG network has been under problems in terms of network attacks and security, its core team is made of individuals with a proven purpose and vision. You just might want to hold on to it for a while till everything is clear.

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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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Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip
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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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