Vergefam rejoice: the Verge platform is finally in the news for not f***ing up. After suffering 3 (three) 51% attacks and going through a general lack of quality updates (Pornhub partnership was supposed to be the update which would take XVG to the moon; it didn’t), Verge came out with an announcement that a new partnership is on the horizon for the cryptocurrency. Apparently the Verge team has engaged in negotiations with RSKsmart in a desire to bring smart contracts onto their platform.
Justin Vendetta of Verge announced this partnership on his Twitter and had only good things to say about it:
“RSK is the most secure smart contract platform. We will be integrating them directly into Verge Currency.”
RSK is the first open-source smart contract platform with a 2-way peg to Bitcoin. The platform looks to become a smart contract layer built on top of Bitcoin and also rewards the Bitcoin miners via merge-mining, allowing them to actively participate in the Smart Contract revolution. “RSK goal is to add value and functionality to the Bitcoin ecosystem by enabling smart-contracts, near instant payments and higher-scalability,” says the company’s official paperwork.
These are important news for Verge. As XVG is a privacy coin, a layer of smart contract technology will help improve the coin’s security. This will be important as XVG at the moment isn’t exactly known as a safe cryptocurrency. Vendetta’s tweet reveals that Verge has already launched a testnet that could see its public launch in a matter of weeks.
Read our reviews of popular wallets: review of Breadwallet, Armory wallet review and Edge (aka Airbitz) wallet guide.
The announcement came after the June 9th Verge meet-up in Amsterdam, where around 500 people and 10 or so Verge developers had a chance to exchange their ideas and learn more about XVG and crypto. The meet-up was held on a rented-out tourist boat and was rounded up with a “big party” where Verge’s core team and a number of special guests “celebrated the day with everyone”.
The purpose of the event was allegedly to allow Vergefam to socialize and form long-term connections, but the ticket prices that ranged from 35 Euro for the evening party to 175 Euro for the “full experience” do seem somewhat exorbitant. Especially when said pricing comes from a team that previously collected 75 million XVG from its holders and fans just to announce that MindGeek and Pornhub accepted them as a means of payment. Check out the livestream of the pre-party TokenPay/Verge presentation here.
RSK (aka RootStock, which we wrote about) partnership/integration is a good direction for the Verge platform to take. Smart contracts are important for data security, something that every privacy coin needs. Hopefully, this will help mitigate the damage that was previously done by the Verge team and lead XVG on a path of recovery.
