In the recent past Verge (XVG) has been among the best performing altcoins in the cryptocurrency space. The incredible performance has not only been price-based but also development wise. The team is working around the clock to ensure that the changes that were made on the current roadmap are completed successfully and within the stipulated time. Verge says via the Medium:
“We actually continued to work in the secrecy of our headquarters to build up an informational graph with all the upcoming changes that are announced on our current roadmap.”
The new update focuses on the rebased codebase to v.0.17 (Bitcoin) and Ring Confidential Transactions (RingCT). Other changes in the roadmap include Insight API, Verge iOS wallet, Verge Desktop Wallet and RSK-smart contract peer-to-peer platform.
The Focus on Rebased Codebase to v.0.17
The Verge community has been eagerly waiting for the Ledger support alongside support by Exodus for XVG. However, the update reassured that the team is working to ensure that the support from both platforms happens in the near future. At the same time, the network is depending on TokenPay to fully implement the earlier announced support for Verge debit card. The integration will enable the use of XVG via the card support in return pushing the network closer to the goal of mass adoption.
Bitcoin Core experienced a bug attack in the past week. The Verge team said that they run tests and checked their code thoroughly. Significantly, it was found that Verge was not vulnerable to Bitcoin Core bug. However, to ensure that they are protected from the bug, bitcoin fix was integrated into the codebase.
Verge is working towards instant confirmations where blocks are developed every 30 seconds. The protocol will achieve the initial confirmation within 5-15 seconds. Moreover, the team clarified that the new codebase will have an average confirmation time of about 15-30 seconds to carry out verification. Furthermore, the team is investigating the above-mentioned RSK for faster and more instant transaction verifications.
The community has been concerned regarding the last block rewards after all the XVG is mined. According to the current block calculations, only 597 days are left between now and the last block reward. However, the team said that the solutions for when this happens have not been arrived at yet, although there is still enough time to investigate the issue in greater detail.
The team also discussed the issue of implementing SegWit. Bitcoin blocks take an average time of 10 minutes. On the contrary, Vege is currently processing blocks at the rate of 30 seconds per block. This means that it is not necessary to implement “SegWit”, at least not now when the network still has fewer transactions within the 30 seconds.
In regards to the vWallet or otherwise known as Electron-Wallet, the update said:
“There will be no requirement to download the entire blockchain anymore. It will be based of the Insight-API and their including system integrations. It’s going to be lightning fast and extremely user-friendly.”
At the time of writing, Verge is trading at $0.016. It has corrected higher 11.2% in the last 24 hours. Verge has a volume of 8 million while the market cap stands at $245 million. It is currently ranked 39th in the market.