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Your 2018 blockchain portfolio should include Verge (XVG). This is why.

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Verge XVG

The cryptocurrency market has no shortage of options. You can currently trade in thousands of different crypto coins. Most of them remain irrelevant, but a handful of alt-coins have found a way to carve a niche suited to their particular characteristics by targeting the industries that can benefit the most from them.

So, for instance, Tron is going for full web decentralization while Stellar and Ripple are trying to become the standard in international bank transfers. So what is Verge’s (XVG) deal? Let’s find out.

Verge’s XVG usefulness

If a cryptocurrency is going to succeed it has to be useful. Some of them are actually designed to be used in a particular way or to provide a distinct characteristic that will be attractive in a specific market. Verge’s (XVG) supply is limited, so demand creates value.

Usability, in turn, creates higher demand and drives prices up, so they become good choices for investors who are trying to profit from the trade. Verge’s XVG was created as a retail crypto coin, something you can use on an everyday basis to pay for goods and services. While it’s not confined to any specific industry, it’s more useful to make personal payments than to deal in cross-border financial transactions, for instance.

Bitcoin‘s massive rise in price has to do with the fact that it offers a safe environment in which it’s easy (if slow) to make payments of many different kinds. 

Banks have recently embraced Verge, so soon you could find your local bank offering you a Verge debit card. As Bitcoin, despite being the most prominent player, still is not fully trusted by markets and institutions, other crypto coins that offer a comparable type of functionality are rising in popularity among investors and users.

Anonymity: Verge’s hallmark

Guaranteeing security, privacy and anonymity have been Verge’s top priorities since the beginning. It combines anonymizing protocols such as TPR and I2P to ensure every user’s anonymity on every transaction by masking their IP addresses. 

That way you just cannot trace transactions back to individuals, and this is a feature that attracts many users in the world who care about their privacy but still want or need to be a part of the digital economy.

Open source technology

Some cryptocurrencies have been developed for profit by private corporations. Verge, on the other hand, is a fully open source project with a very committed community that keeps its development going on and manages the environment and functionality. Profits are not on the table for them (as developers or community members).

This means that any XVG holder can interact and work with members of the platform’s core developers and contribute to any of the different ongoing projects aimed to make the platform better. The kind of alt-coin based on a community instead of a company has become quite popular recently because it brings users to the project’s heart.

It taps into a large pool of intellectual resources and skills, and it creates incentives to join the platform. It also brings transparency and accountability to these projects and promotes innovation. This is the very same model in which projects like Mozilla, the Linux kernel, and other open source initiatives have thrived in recent decades.

Cheap transaction costs

Besides protecting privacy, speed and low cost of transactions are also core values for Verge. Low speeds and high fees have been the way to do business involving fiat currencies for a very long time, and Verge aims to tackle that problem.

The platform was released with a large number of tokens in circulation in order to promote mass adoption. The more users they have, the better the liquidity becomes. It also allows for transactions among other blockchains, so it’s even more useful that way.

Partnerships

The right partnerships give digital currencies credibility, brings them attention from outside the crypto word, and expand their user base. Verge has recently scored some that could make all the difference.

In the last few weeks, Verge has been adopted by MindGeek and TokenPay, and these new partners alone could propel the coin all the way to the top ten.

Many more cryptocurrencies continue to join the market. But only those that offer some added value in the form of utility and benefits will have a chance to compete. The value for users becomes the value for the coin and, in this regard. XVG has proven to be ready to take on the market and make itself valuable both in price and usefulness.

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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

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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