Verge (XVG) has been on a downward spiral for some time now. It all started when the verge team announced a partnership with PornHub. Investors were waiting for a different sort of partnership, which explains why this announced beat up the price of Verge. This was then followed by a 51% attack that pushed the price lower. To make matters worse, Verge was hit by a second attack late last month, further pushing down its price. At current prices, Verge (XVG) is a shadow of its former self. This begs the question, can Verge survive, or is it on its way out?
Well, the future of Verge at this point lies pretty much in the strategic moves of the developer team. First, they need to change their approach in seeking out new partnerships. That’s because part of why Verge (XVG) is where it is, is because of the partnership decisions they made a few months ago. The decision to partner with PornHub might look practical from a privacy perspective, but it’s not exactly strategic; for two reasons.
First, it dent the chances of more mainstream organizations partnering with Verge (XVG) as a mode of payment, based on its association with pornography. Second, this is 2018, and though people watch porn, you wouldn’t exactly consider porn site subscriptions a high growth area. In essence, all this did was hurt the reputation of Verge, without much in long-term gains. For Verge to grow, they need to re-evaluate the kind of partnerships they get into going forward. There are lots of high growth industries where privacy coins are needed.
The Verge developer team also needs to up their game in securing the network. It is emerging that after the first 51% attack, the team only did minor patch-ups, which is why the second attack was pretty much similar to the first one. This points to a scenario where Verge probably has design flaws that attackers have discovered, and are exploiting for their benefit. To ensure that Verge (XVG) survives, the team needs to change tact in their approach to security. Otherwise, future attacks could drive Verge even lower, and see it lose any credibility it has in the privacy market place. One of the solutions would be to come up with well-funded bounty programs. Through a bounty program, programmers can test the network for vulnerabilities and alert the Verge developer team, so that they can work on them, and keep the network secure.
Therefore, on the question of Verge (XVG) survival, the answer is yes, Verge (XVG) can survive, but with a change in its strategic approach to the privacy market place. Once it does that, it has a good chance of growing in value in the very long-term. It may not get to the level of PIVX, Monero (XMR) or ZCash, but it will have a sizeable piece of the privacy coins market. It may not be headed to the moon tomorrow, but once they change tact, Verge (XVG) will reward long-term investors.