Cryptocurrency General News

Daily Transaction on Verge (XVG) Mainnet Still Looks Good Despite Crypto Woes

Price Analysis: Verge (XVG) Recently Performs Better than Bitcoin in Terms of Price Growth, Crosses $0.007 Resistance

The cryptocurrency market is yet to catch up with the kind of experience it got in late 2017 and early 2018 when the price of most coins reached the peak. However, data reveals that in spite of the crypto woes which hit many cryptographic projects since the fall of the market, the number of transactions performed on Verge (XVG) network is considerably not bad.

Since the creation of Verge in 2014, the highest number of transactions performed on the network in a day is 24.5+K.

Data captioned by a Vergecurreny core member, Swen Van Zanten, reveals that there have been drastic fall in the number of daily transactions performed on the network since 2018 when it peaked.

However, the developer said despite the capitulation, the number of transactions performed on the mainnet chain of the network is quite good. He made the assertion in correspondent to the ongoing crypto woes in the ecosystem which he called “boring crypto times”.

According to the data, the average number of daily transactions executed on Verge in the first three days of October is around 4000. Previously in June, Verge maintained an average daily transaction of 5000.

The number of daily transactions performed on Verge mainnet chain hit lowest around December 2015, recording a value below 1000.

Swen Van Zanten is a core developer at Verge. He is the IOS developer of the blockchain firm.

Another developer, MarpMe, at Verge who was delirious about the information responded to Zanten, saying critics of the XVG would soon realize the real value of the blockchain network.

Verge (XVG) too complicated –former Amazon Engineer.

Afterward, the XVG community was placed in frenzy. An erstwhile engineer at Amazon, Alex Labed, who delved into the matter said people complain about Verge because the network is too complicated.

While urging developer MarpMe to make a survey to confirm his assertion, Labed said the only real use case XVG has is its connection with PornHub.

MarpMe replied that the existing iOS application of the network makes the usage of XVG a piece of cake.

 

Disclaimer: Our writers invest in cryptocurrencies and it is possible the author of this article has investment in any of the digital currencies discussed. Some times author's presented information may be laced with opinions. Treat articles as mere information and not as financial advice.

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About the author

Khalid Lawal

Lawal Khalid is an avid entrepreneur and a peace advocator. He takes time developing expertise in journalism, and he has significant contributions at Arianna Huffington's Thrive Global, Oracle Times, Coin Gape and a host of other notable news publications.

Owing to his long time interest in innovative technology, Lawal cut into the blockchain world, and he has been unearthing meaningful investigation as well as noteworthy blockchain researches.

Khalid sits at the helm of NewsLogical.com as a full time journalist and a senior market analyst.

Email: lawal.khalid@newslogical.com

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