The year 2018 was all bulls and bears for many cryptocurrencies. As the year comes to an end, these coins are counting their losses and working towards improvements in the coming year. Verge (XVG), the first privacy coin to hit the crypto sphere is set to make 2019 an interesting year.
If feelers from recent developments are anything to go by, then the coin will certainly make positive impressions in the crypto community. If you’re keen on finding out how the ball tilts for the coin in 2019, here are three (3) developments that will drive up Verge’s (XVG) value in 2019.
It is truism that Verge (XVG) is the pioneer cryptocurrency that has privacy as underlined feature. The anonymity allowed users transact without releasing their data. On the other hand, privacy is optional as users can switch from anonymous to public transactions. In spite of these security guarding transactions, the coin faced massive threats. At these times, users’ assets were lost to malicious attacks. During the first hack, over $1 million USD was lost and the second loss was doubled; with close to $2 million loss recorded.
In the light of these happenings, Verge (XVG) kept the user base abreast of plans of a codebase upgrade. With the coming, the upgrade drives adoption of the privacy coin (Verge) in coming months. The upgrade was taken serious after reports of bugs were tendered. The said bug caused ripples among users because Verge (XVG) recently ported to the Bitcoin Core Code. Though the bug did not pose much threats to the coin, the developers still went on with plans of codebase upgrade. This way, the coin will be free of any adverse actions.
The development team chose new codebase that will permissioned on the Bitcoin v.0.13 version. The new codebase will be more secure than what was obtainable on the coin. Also, users have been yearning for better security features. The upgrade seals off previous security breaches and also charts the way for future expansions.
It is worth mentioning that Verge (XVG) also partnered Ring Confidential Transaction (RingCT) to increase chances of security. The overall perception of Verge’s (XVG) new codebase is better security of assets and privacy for transactions.
RSK Smart Contracts – Side Chain in the Offing
Verge’s (XVG) trip to Damascus will be rosy as the coin had put up impressive factors. In continuation of quest to keep investors attracted, Verge (XVG) hinted on faster transactions. It is well-known fact that the coin processes transactions faster than some cryptocurrencies. However, this will be tripled with the integration of the RSK smart contracts.
For some time, the coin was going over the working of RSK. Recently, a confirmation hinting on integration of the smart contract platform (RSK) was in the offing. A statement attributed to one of Verge’s (XVG) representatives laid credence to the fact that RSK is better off than other smart contract platforms. By virtue of this, the integration is looked up to with keen interest. When this happens, Verge (XVG) will be running a privacy smart contract.
On the other hand, RSK smart contract will facilitate transactions. Earlier concentration of the main chain will be dissolved. In the stead, RSK takes up the function of a side chain. This speed up transactions and will certainly attract more investors.
Despite the fact that cryptocurrencies are working towards wrestling power from fiat currencies, they still make use of some traditional features. Mobile wallets are the trend. Verge (XVG) threw its hat into the ring to enhance the experience of users.
The new Verge (XVG) wallet is designed to be faster. User-friendliness is not left out of the box. The wallet might just be what users have been yearning for. Additional features like decentralization and utmost security are hallmark of the upgraded wallet. Also, the wallet is open-sourced and has capacity to facilitate transactions within a 30 second timeframe.
The upgraded Verge (XVG) wallet features the Core Wraith Wallets. It is worth noting that the latter (Core Wraith Wallets) is touted to be faster and secure. Also, it supports iOS, Windows and Linux systems. By implication of this, smartphones users with mobile versions like Apple’s iOS and Windows can use the new wallet.
Damascus at Hand
As the year draws to an end, cryptocurrencies are drawing up their balance sheet. Verge (XVG) made tremendous impact in the crypto space. With hopes for a better year to come, the coin set in place major developments that will play vital roles to more adoptions.
Prospects of facilitated transactions through the RSK smart contract platform and upgraded codebase add their quota to Verge’s (XVG) futuristic tendencies. Finally, the upgraded wallet draws the line to better prospects that await the coin in 2019. These developments are proof that Verge’s (XVG) trip to Damascus is a fruitful one.