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Verge (XVG) sinks, and even Pornhub can’t come to the rescue

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Cryptocurrencies have already proved themselves as profitable ventures with more and more of them emerging while many companies continue to show interest in using them.

Some companies have even gone further to launching their digital coins that have navigated the waters to advance and become relevant. However, many emerging cryptocurrencies fail to consider one crucial fact adequately, and that is network security.

Blockchain Safety

Many people will agree to the fact that they have heard news of blockchains being secure and transparent mediums of transacting. However, this might not be entirely true to all blockchain technologies; blockchain is still a relatively new technology, and in its initial stages that require a lot of further enhancement and development, especially in the area of security.

Because blockchains are the platforms that are holding virtual currencies that are in demand in the current time, makes them a bigger target to hacks and bug attacks. The legal repercussions associated with hacking or attacking a blockchain are quite high and severe, but if successfully done, the attack is likely to bring huge rewards to the hackers.

The Problem with Verge (XVG)

Late last month, Verge suffered yet another 51% attack that affected about 35 million XVG digital coins in less than five hours. This was shortly followed by a 14% Verge’s XVG price decline in the time duration of 24 hours. The recent attack is not doing any justice to the privacy coin, Verge (XVG), denting their credibility and image as a viable cryptocurrency.

In April, an unknown hacker managed to gain entry to the network minting XVG coins while blocking other users, at the time, from making any transactions. Other attacks have followed since them, and they are severely affecting the prices of XVG.

Now trading at $0.038 and assuming a market cap of roughly $580 million, the position thirty-four as per Coinmarketcap virtual currency is significantly falling in value, and the end doesn’t seem to be near. The general perception by many now is, Verge (XVG) is not a secure platform.

Pornhub and Verge Relationship

When Verge (XVG) announced their partnership with MindGeek and Pornhub, the entire cryptocurrency community was left tongues wagging. The media referred to it as the “biggest partnership” in the history of virtual currencies. Many commended Pornhub for trusting cryptocurrency as a payment option although the decision to settle with Verge was highly disputed.

The partnership entailed allowing consumers of explicit content to pay for premium services in Verge while allowing performers the chance to be reimbursed in XVG. The partnership was catching momentum, but a change of tune is currently being witnessed.

According to a recent release by Anna Lee, the pioneer of Virtual Reality Porn, the adult site is experimenting with Vice Industry Token (VIT). She went to her twitter page to announce the “casting call” the website’s initial annual Pornhub Games, hosted by Asa Akira that promises to pay the top three performers $10,000 equivalent of VIT.

Although the new partnership between VIT and Pornhub is not officially announced yet, the rumor mill has it that VIT will be the elite sponsor of this years Pornhub awards. The virtual currency is quickly making a name for itself in the industry.

And clearly, this all shows that even Pornhub is not interesting in rescuing Verge while it depreciates. But of course, I, as a crypto enthusiast would not want to see any coin on the market fail, including Verge. Let’s see how it goes.

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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 Pxhere.com

Altcoins

Here’s Why This Coin Still Has Wings (WINGS)

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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…

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6 Blockchain Predictions For 2019

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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…

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TRON DEX Goes Crazy, TRX Founder Asks For More Projects

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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.

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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