Verge (XVG) the privacy-based coin has announced the release of its long awaited Lumos V5.0 update. Verge revealed on its official Twitter page that the new release was a stable version of the new core codebase update.
The upgrade which took over 13 months to develop has received plaudits from industry observers as the beginning of a new dawn for the coin. This update which is available for public usage is the largest biggest technical development initiated by Verge.
Verge revealed that the update would also be rolled out to crypto exchanges and mining pools to update their services.
Verge detailed the possibilities that comes with the Lumos V5.0 in a publication on Medium which highlighted several changes that would be achieved with it. Here are three takeaways from the new codebase.
Enhanced Security
Verge (XVG) as a privacy based blockchain is big on security and the Lumos V5.0 update integrates the latest security protocols. Blockchain technology is a fairly new phenomenon and there have been difficulties in creating a fool proof system.
The hack attack on Verge last year saw the company commit to the rebasing of their codebase to meet novel security protocol. The newly upgraded core would allow for the highest security standard used on the latest bitcoin security protocol release.
Blockchain Flexibility
Verge Lumos v5.0 update would also allow the blockchain significantly improved flexibility when it comes to executing tasks on its network.
This includes integration of improved applications on its blockchain. Verge plans to upgrade to fully optimised iOS and Android apps which would be integrated on its blockchain alongside standardize wallets.
Common Standardize Interface
The update is also expected to bring about a common standardised interface for users which would developers and businesses to develop apps on its network. This according to Verge would place the blockchain as a leading DApps network within the crypto space.
Verge (XVG) Price
Verge is currently priced at $0.0093 for a unit and recorded a trade volume of $7.2 million in the last 24 hours. The coin ranked 49 on the list of coins based on market cap has made gains in the past few weeks and has a market cap of $140 million.
