Verge (XVG) created quite a bit of controversy this Spring as Pornhub announced it would take Verge’s XVG cryptocurrency as a payment method. It’s considered to be a major win for Verge. Laugh if you want but when you get the world’s biggest porn platform business you stand to make a lot of money.
Pornhub is only one among many profitable partnerships Verge has acquired recently and the media and users couldn’t be happier. Verge is not just any crypto coin, it really guarantees true anonymity on every transaction, and it’s on its way to the top of the alt-coin world.
That’s just the beginning. But before we analyze how viable Verge could be, let’s see the way it’s performed so far.
Until May 6th, 2018, the Verge’s XVG was market capitalized at $1,133,972,634 from a circulating supply of 14,965,688,072 at a rate of $0.075772 per token. And then, as the whole crypto market shaken, it is no exception either – the coin stands at $0.05618 per token at the time of press May 12, 2018). Its high point was last December 23 when it was at almost $0.25.
Verge is unabashedly directed at hacktivists. They called their white paper a “Black paper” and they emphasized their Tor wallet for OSX, Linux, Android, and Windows. This tech combines Tor and I2p to anonymize every wallet holder’s IP address.
Their Wraith Protocol writes transactions down to the public (and private) ledger. But even public transactions show only random IP addresses.
So what’s this Pornhub ‘thingy’?
Verge controversial past even includes a name change. Its parent is called Dogecoin. Dogecoin was used as the basis to create another currency, Doigecoindark which became kind of notorious because of its goals about perfect anonymity. This brought a number of accusers (as well as fervent supporters), so in time a rebranding seemed in order and Dogecoindark was renamed Verge in 2016.
Then it caught the interest of MindGeek, Pornhub’s parent firm. The Pornhub network includes Youporn, Redtube, and Brazzers. For them, security is a big deal and they’re willing to spend a pretty dime on it.
Fabian Thylmann‘s net worth (Mindgeek’s CEO) is estimated to be at around three hundred million and chances are you have no idea who he is. That’s because he values anonymity while his business does create a lot of revenue. So however controversial this could be, the ability to be a currency of choice in the adult market (let alone anonymity) is great for any alt-coin, except that Verge already got it.
But the adult market is not the end of the story for Verge. Lots of markets want security and anonymity these days.
On the Verge of Something New
While privacy and anonymity are human rights, they tend to be linked with shady dealings. People say, there’s no reason for anonymity if you have nothing to hide, but would those same people give you their password or pin for their bank account?
When the Deep Web went for Bitcoin, people assumed it was anonymous. And it is, but not to the same degree as Verge is. Digging deep enough into the Bitcoin ledger could still lead to you if you transacted on it. And it’s a record that will never go away.
Verge is using the MindGeek partnership to grow and get new partnerships. It’s rumored that Spotify is next as well as PayPal and Venmo. The right partnerships bring cryptocurrencies to the real world and make them available to everybody. Verge is on the right track.
For the latest cryptocurrency news, join 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.
Chart courtesy of Salim Chauhan via Flickr
Should Crypto Projects Devote Resources to Community Growth and Marketing?
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…
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
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…
My Crypto Heroes Announces Issuance of MCH Governance Token
Tokyo, Japan, 24th November, 2020, // ChainWire //
My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH.
My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.
What is MCH Coin?
MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.
Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.
The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:
During December 2020 the first governance…