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

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Verge

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

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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