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All you need to know about Verge (XVG) is right here

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Verge XVG introduction
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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?

Privacy is necessary, of course. Edward Snowden, by revealing NSA spying secrets, showed this to the world as he denounced how bad was the vigilance the US government keeps on its own citizens.

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.

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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.

Chart courtesy of Salim Chauhan via Flickr

Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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SonicX
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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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