Verge prepares for a hardfork that could impact its price

Published on by Cryptoslate | Published on

Privacy-centric Verge is preparing to conduct a hard fork that would change the way its halving is structured.

Verge is a cryptocurrency designed for people who value their privacy.

As a result, the new difficulty adjustment would give the Verge team around "Four more years" to add utility to the token and make strategic decisions.

Under the current distribution schedule, all Verge tokens would have been exhausted at block 4,248,000.

The new hardfork would allow Verge to maintain its protocol healthy by keeping miners profitable while securing the network.

Over the last week, Verge saw its price surge over 50 percent from a low of $0.0036 on Nov. 12 to a high of $0.0055 on Nov. 15.

A spike in volume could take Verge to break out of the descending parallel channel in an upward direction.

If validated, Verge could rise to $0.0060.

As Verge prepares for a hardfork in mid-December, the team encourages those using the Core Wallet to upgrade to V6. Meanwhile, for those who keep their XVG tokens on exchanges or third-party online wallets may not have to worry about the update.

The new upgrades to the Verge protocol would likely be felt on the price of this cryptocurrency.