The Verge (XVG) protocol has been hacked twice with the hackers managing to mint XVG from thin air. There has been a public outcry even after the recent software patch of the latest hack was announced via Twitter. The XVG team member in charge of marketing and operations, Kriss Chase, made the announcement on his Twitter page as follows:
“A patch has been deployed on Github (10 hours ago). Update has been successfully pushed to [GitHub]. Please keep in mind process to reactivating exchanges etc. may still take some time.”
The response was positive from the Verge family in terms of the XVG development team working fast to resolve the issues. However, concerns still linger as to whether the new patch would be sufficient to sort out the timestamp issue that had led to a rogue miner ‘back-dating’ the timing on blocks to fool the mining protocol.
These are genuine concerns, but there is no software project that has not had teething problems. The Mac, PC, Android Phone or iPhone you are using, has had its rough days in terms of having a functional operating system that still has vulnerabilities that are yet to be discovered. All it takes is some rogue hacker to put some time in it and find such a vulnerability.
Therefore, XVG should still be in your Crypto Investment Radar.
As a matter of fact, this is the best time to buy some XVG in bulk as everyone heads to the hills by cashing out their XVG vault of coins.
Current market analysis indicates that the coin has dropped to the number 32 slot according to coinmarketcap.com. XVG is currently trading at under 5 cents and down 2.29% in 24 hours. The current general market decline is also to blame for the dip in the value of not only XVG to current levels of $0.0414 but the entire crypto-market that has seen BTC go below the $7,500 mark.
One thing to look forward to and with respect to XVG is the anticipated collaboration with TokenPay (TPAY). Both these projects have been collaborating on a lot lately. They have jointly organized a meetup in Amsterdam this June and will be listed together on the same day on a new exchange that is in its ICO phase called CurrenX. Another rumor that might materialize, is the XVG debit cards supported by TokenPay.
Therefore, and in conclusion, XVG still has some promise once the coin and project work past the current FUD that is the hack of its protocol. Meanwhile, if you are a shrewd investor, it might be time to buy in during the proverbial dip experienced by XVG.
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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.
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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.
Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?
While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.
Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors. The goal of the platform is to help newcomers shorten their learning curve,…
CoinFlip Scores Big with BRD Wallet Partnership
As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible. While many crypto users are extremely tech oriented, a lot of those on the sidelines are not. The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above. In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country. Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.
In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map. Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells. BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit. The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.
Cryptocurrencies are already making a huge difference around the world. Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…
Cryptocurrency Collateralized Debt Positions Are Growing in Popularity
While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle. Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance. One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess. That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS. These projects have managed to find a foothold in the market and have a better chance than most of staying there. While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.
What is a Cryptocurrency CDP?
In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount. There are several examples of this in our day to day lives. Auto title loans from large companies like TitleMax are extremely popular with consumers. Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has. The consumer can continue using their car as long as debt payments are made.
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