Verge (XVG) was at the peak of its glory driven by the hype of the mysterious partnership that the Verge team presented to the community. As a part of the mystery teaser, the team behind the 40th largest currency in the market started their first crowdfunding campaign, hoping to unlock the partnership.
After 75 million XVG were collected, the team revealed MindGeek partnership which further brought Verge to Pornhub, one of the most popular platforms for adult entertainment, as a method of payment, it was expected that XVG would skyrocket.
The partnership did affect its price in a positive connotation, however, Pornhub soon added more cryptos to the website, which brought competition to the declining Verge.
In the meantime, Bitcoin Core was said to have addressed a major system flaw in Bitcoin Core code versions 0.16.3 and 0.17.0, however announcing that Verge is not affected by the recorded vulnerability in the code, the team also added that Verge will be releasing new updates to the system.
As the price of Verge has surged since the hype around the Pornhub partnership before its official revelation, there is a questionable possibility that the latest updates could pull out Verge out of the market dip before the take off to the year 2019.
Verge XVG Updates the Core Code to Bitcoin Version 0.17.0
Although a crucial bug was spotted in Bitcoin Core code version 0.16.3 and version 0.17.0, the team behind Verge added that the XVG blockchain is in no way affected by the vulnerability.
Although the team negated any chances of having vulnerabilities in their code version, the team also announced that they will be updating to the version 0.17.0 which took place on October 1st.
After the hype around the Pornhub partnership was gone, the team retreated to an extensive privacy, also becoming less active on social media as they were working on the latest updates.
Along the way, the team decided to enhance the transparency of their work, so they have published a video that presents all the team members alongside with presenting the most recent developments and updates to the Verge roadmap.
Meanwhile, the team released the announced code update to version 0.17, addressing the rebased codebase, alongside with updating to RingCT (Confidential Transactions for added privacy.)
Moreover, the new updates are said to include RSK smart contracts, iOS wallet for XVG as well as a desktop Verge wallet, and Insight API.
However, although the update is up and running for several days already no other significant changes in the price of XVG were noted outside the usual market trends.
At the current moment, on October 4th, the market is seen in a near bold rebound, so XVG is slowly recovering with a rise of over 4% against the fiat, still trading at the value of 0.015$ per one unit.
What Happened to Verge XVG and Why the Price Decline?
Although XVG is not lonely in the sense that Verge isn’t the only currency among the top ten that declined by over -90% since reaching its all-time high, Verge is one of the rare toppers that got heavily affected with the series of 51% back in May when its price also started to plummet against the fiat.
Suffering from several attacks, the network revealed a vulnerability that might have cost it half of its price of 0.090$ back in April when the hype was alive, to a new low as recorded back in mid-May when XVG declined to 0.040$, going down to 0.030$ and now being traded at the value of 0.015$.
Getting back to its all-time high of around 0.22$ may seem as an incredible task at this time even with the latest mass rebound, so in a way, the further progress of XVG against the market trends might also depend on the long waited and previously announced XVG debit card as announced by one of the greatest supporters, TokenPay.
The crypto charged card that supports XVG should help the team with the general boosting of mass adoption of Verge, however, just like with Pornhub, this spot is not exclusively reserved for Verge, as TokenPay will have more tokens and cryptocurrencies receiving their own crypto charged to debit cards.
From the bright side, XVG will be the first cryptocurrency to receive this support from TokenPay, currently on hold and in progress.
Within the new updates to the new code version, the team is also investigating the ways of creating faster and instant verifications, while the network is able to validate transaction within 15 to 30 seconds.