Verge have announced in this recent tweet that they are to start working on a new smart contract integration for Verge XVG, the currency native to the Verge network. This integration will come in the form of a partnership between Verge and smart contract specialists, RSK. Based in Buenos Aries, RSK claim to be the safest smart contract platform in the world.
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According to RSK:
“RSK is the first open-source smart contract platform with a 2-way peg to Bitcoin that 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.”
See more from the RSK website, here- https://www.rsk.co/
RSK are of course ultra-security conscious, which is no doubt a motivating factor for their willingness to work alongside Verge, who’s currency XVG aims to be the ultimate privacy coin. Within this integration then, we may very well see XVG working under new smart contract parameters, further enhancing the integrity and security of XVG and the Verge network. This is quite important, when you consider how many times Verge have been hit with double spend and 51% attacks over the past few months.
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The tweet highlights that a TestNet is now in production and has been for around a week. Therefore, it does seem as if both Verge and RSK are injecting some urgency into this, once again, I suspect that this is down to Verge wanting to clean up their act in light of all the recent hacks.
What this does mean is that we will no doubt see a TestNet released for public testing soon enough before we potentially see Verge move over to a new MainNet, should the TestNet prove to be worthwhile.
This at best is a little bit of positive news for Verge and XVG, a team and a currency that only ever seem to hit the headlines for all the wrong reasons. As RSK integration develops, we expect to see Verge back in the limelight once more. Who knows, an improved back-end reinforce by smart contract protocols may even have a positive impact on the value of XVG, assuming the team can keep attacks at bay.
We have engaged with @RSKsmart and started a dialogue and begun testnet a week ago.
“RSK is the most secure smart contract platform. We will be integrating them directly into Verge Currency” -@justinvendetta
4:26 PM – Jun 9, 2018
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