Just yesterday, the Verge development team completed another milestone in their Verge (XVG) project and road map. They accomplished what is known as block reward halving and announced it promptly via twitter and telegram. This was done to make the cryptocurrency more predictable and transparent in all forms.
The mood in the online community was one of excitement, confusion and some even were prophesying the doom of XVG; but the later is not so.
What does block reward halving mean?
Block reward halving means that the incentives given to miners to confirm transactions will be cut by 50%. This also means that the miners will now mint less coins into the market. Less coins in the market means that supply of XVG will still increase but at a lesser and more welcome rate. The only problem now is that some miners might switch off their equipment or turn to mine other coins. Which is okay and withing their rights in a decentralized crypto world.
Verge fam member @Simpire had this to say on twitter regarding the halving:
Price for mining is halved, this means less (new) coins enter the market (being offered to buy), which means price will climb. Miners want to get reimbursed for their effort and costs (coins offered at higher price).
Which other coins have halved?
We at TechNewsLeader.com were surprised to find out that the popular coin known as Litecoin (LTC) had halved the mining reward back in August, 2015 when the coin was valued at $3. The coin is now valued at $159: a 5,200% increment since then. Therefore, halving will improve on the price of XVG in the markets.
Other XVG Announcements
The Verge community have been excited after the influx of good news over the past two months. The first one was a Pornhub partnership that now allows subscriptions to be paid in XVG on the World Famous porn site. The Pornhub announcement means that MindGeek, the parent company of the site, is also a partner to XVG.
Another announcement has been the partnership with TrafficJunky; an online advertising service that serves over 4 billion daily impressions on lots of websites including Pornhub. XVG is also now available on popular crypocurrency exchange known as Bitfinex. This allows for XVG to be paired with BTC, ETH, USD, GBP, EURO and JPY.
All these announcements can only mean one thing for XVG, that it is headed to a smooth yet predictable Moon Landing.
Current market analysis put XVG at the value of $0.075 and up 7.11% in 24 hours. The sky is the limit for XVG.