Verge (XVG), an age-old currency in cryptocurrency time, seems to be a darling to controversy and headlines. From announcing blown up big bombs news of their partnership with Pornhub to the more recent headlines of copying hack fix codes and denying it, the cryptocurrency seems to be creating a space for itself in the market.
The secure incognito virtual currency that uses multiple anonymity-centric networks that utilize open source protocols based throughout the world has been a victim of two protocol hacks in a span of two months with the latest one being last week.
It took Verge developers about three days to bring the situation under control and fix the problem, which some critics say hasn’t been fixed at full, leaving the platform vulnerable for another attack through it might be harder to perform.
Like that wasn’t enough bad news for them, new information emerged claiming the ‘fix’ was copy pasted from an obscure digital currency that launched in November 2017. How does the Verge team react to this news? They try to spin the story and give conflicting information to look like they were the victims of this cyber-robbery.
Records from Github show SHIELDcoin, who claim to be the original owners of the code had implemented the ‘fix’ code around a month ago while Verge records show they did so about three days ago.
It’s not uncommon for programmers and developers reusing others’ codes for their benefit, in fact, copying open-source codes that are not protected by patent rights is legal and morally acceptable. Nevertheless, lying about it and claiming ownership of the code is just intellectually corrupt and morally wrong.
Verge forgot to fix the difficulty calculating code and thought changing the block time was enough. This backfired on them. It is also worth noting that Verge (XVG) developers are alleged to have copied Bitcoins code in creating their platform.
XVG is evidently a fork of a fork with the above two alleged plagiarism being the third time the developers ‘just copy pasted’ other people’s codes to suit their convenience. They still stand on their ground that ‘hack fix code’ might have been their first time to copy paste.
Compare the commits from my tweet…..identical…. Committed a month ago by Shield, commited 3 days ago by Justin. The drift code from 2 months ago you are referring to was copied/stolen from Peercoin (who made that commit in 2015): https://t.co/mdGa6wfupC pic.twitter.com/451ZbkFviD
— Mike V (@Mike__V_) May 27, 2018
Now, they are working round the clock to come up with an entirely new codebase seemingly because they hardly knew how the current codebase operates, and apparently because they have now learned how to code rather than just plagiarizing other people’s work. Verge development team is not heading to any pressure to accept their offense; they claim it’s the later who copied from them.
— buzzkillx (@cryptoBuzzB) May 27, 2018
More interestingly, it seems Verge (XVG) fans do not care about these allegations as they chose to continue preferring this digital currency in their online transactions refusing to burg under the pressure of the media.
Thats unfortunate. But, as a #vergefam I believe this attacks are only making us $XVG stronger. The more U attack more Anti dots we will prepare to avert any possible threat to $XVG. Nothing is full proof, this attacks makes us more pro-active to neutralize any future threat.💪
— Mann (@manosmily) May 25, 2018
To be considered a ‘serious’ cryptocurrency in the market, a crypto must be good at not only knowing how exchanges work and how mining pools work, but you must also know deep understanding of cryptography, platforms, economics, hardware and many other factors. Anything less from this paint a shaky image on your currency for investors to have confidence. So, it’d be better for Verge (XVG) team to be more transparent and put-in the ‘real’ efforts.
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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.
Image courtesy of Janeke88 via Pixabay.com
Here’s Why This Coin Still Has Wings (WINGS)
WINGS, a decentralized crowdfunding platform based on the Ethereum blockchain, has had a great run over the past two months. Culminating in a peak of US $.23 just a few days ago, the currency behind the product has more than doubled since it’s lows of early September.
Despite the slight downturn WINGS is currently experiencing, this crypto-favorite may not be done running up the green candles on your favorite exchange just yet. A small drop like we had today was actually expected and could be considered healthy by long-term investors. These dips are also appreciated by those of us waiting to get in on a project we feel has real potential. WINGS has shown us that potential and is now presenting a great buying opportunity for speculators and traders looking for the next wave of support to lift this coin into the stratosphere.
What is WINGS?
WINGS was created to nurture project proposals via the Decentralized Autonomous Organization (DAO) model. Using blockchain networks and smart contracts, the platform allows the WINGS community to promote proposals with the greatest chance of positive returns. WINGS, in essence, is a decentralized forecasting ecosystem, where token holders are given an incentive to make choices concerning projects on the platform.
The DAO is a popular concept for crypto-projects that want to remain entirely on the web. Using the peer-to-peer technology of blockchain and smart contracts to enforce the rules of participation is…
6 Blockchain Predictions For 2019
As 2018 moves closer towards its end, investors, developers, and tech enthusiasts are starting to turn their gaze towards the future. 2019 is less than two months away, and it promises new breakthroughs and large changes. This is especially true when it comes to blockchain technology.
While 2018 was an important year for this technology’s development, many are wondering what awaits us in the near future. Because of this, we have created a list of 6 predictions regarding the blockchain, as well as what might happen to it in 2019. Let’s begin.
1. Search for new and better business use cases
Blockchain technology is wrongly seen by many as a magical way to resolve all issues that we struggle with today. However, while it is true that blockchain can help with a lot of them, there are still numerous other problems that are better suited to be solved by alternative technologies. Robotics, AI, and similar technologies are not to be discarded in blind faith in the blockchain.
Researchers and developers have recognized this, which is why 2019 will be dedicated to finding specific use cases for blockchain technology. Blockchain will be used in situations where it can have the strongest positive impact. In other words, the goal is not to find places where this tech can fit, but to find places where it is the best fit.
2. Fixing blockchain industry’s image
For a lot of people, blockchain…
TRON DEX Goes Crazy, TRX Founder Asks For More Projects
Less than a week ago, TRON (TRX) community uncovered a new DEX (decentralized exchange) on Tronscan.org. Since TRON community is among the strongest and most supportive communities to ever support a coin, trading activity on this DEX quickly skyrocketed.
So much so, in fact, that TRON’s founder, Justin Sun, felt that he should share this fact on his Twitter account.
— Justin Sun (@justinsuntron) November 13, 2018
TRON DEX sees massive growth in activity
Since Sun shares a lot of traits with TRX community, such as tirelessness and fascination with this project, he was quick to urge the community to come up with additional tokens and projects.
While Sun’s statement that the activity on the DEX is “going crazy” is pretty accurate, many do not realize just how accurate this is. It should be pointed out that the number of tokens on the exchange was 3 on November 10th, when the DEX was originally uncovered. Today, on November 13th, the number of available tokens has doubled.
In addition, 4 out of 6 trading pairs offered on the exchange have experienced significant gains, with the remaining two experiencing only slight drops. The growth was experienced by Dice/TRX (146%), TronWatchMarket/TRX (8.27%), WIN/TRX (89%), and SEED/TRX (1.73%). The drop was experienced…
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