As of now, Viacoin (VIA) is 4 years old. It’s an open-source cryptocurrency, which boasts of scalability and added security to its Blockchain. Unlike its mother protocol Bitcoin, Viacoin has a transaction speed that is 25 times faster than Bitcoin. Unfortunately, VIA has not yet managed to rank among top 50 cryptocurrencies. As seen on Coinranking, it ranks 183. For this reason, Binnance stated that hackers used it due to its little liquidity. In the same fashion, the digital currency released a new development update. But maybe the coin’s 2018 plans might improve its market share. So here is Viacoin’s plan for 2018.
Early this year, Viacoin released a technical infographic summarizing this year’s roadmap. Roadmaps are of great importance since they help investors decide on their investment patterns. Some technical aspects of security may boost your confidence over fraud. So, here are their most important upcoming developments.
First, Viacoin plans to integrate ATM with their system. If this progressing project succeeds, you will be able to transact the digital coin on ATMs. Despite being listed on Binnance, their team is still prospecting for new exchanges. Viacoin stated that they are always looking forward to getting listed on other exchanges in Asia. Besides, the digital currency plans to release Android and IOS Vialectrum wallets. Even so, Binnance admitted that hackers had tempered the cryptocurrency. Here is the full update.
The VIA Market Experienced Abnormal Trading Activity, Says Binnance
The exchange revealed that there was a significant phishing attempt on the Viacoin/Bitcoin market. To explain further, the Automatic Risk Management System stopped all the withdrawals. However, there were no funds stolen. Binnance added.
If you have been following the cryptocurrency markets, then you will realize that it’s not the first time seeing the Bitcoin protocol hack attempts. On August 2010, there was a mega hack on Bitcoin. The hacker exceeded the maximum limit then by generating 184 billion Bitcoins in one block.
For this case, the hacker generated API keys for the hacked accounts, then placed a huge number of coins on the VIA/BTC market. As a result, the market price for Viacoin (VIA) went high. After that, there were failed withdrawal attempts. It’s due to the Automatic risk management system. Also, Binnance withheld the hacker’s frozen coins.
Moving forward, Binnance stated that it was unable to reverse coins back to affected accounts. On the other hand, the cryptocurrency has also been working on newer versions.
In January, the coin released Vialectrum wallet 3.0.5. So recently, they added VialectrumX nodes on Tor browser. Consequently, one can transact anonymously. However, the team said its servers were still experiencing flaws. The wallet is just part of the vast Viacoin wallets. Other wallets include the Windows 64 and 32-bit wallet, Mac OSX wallet, Coinomi mobile wallet, a ledger hardware wallet, and Viacoin paper wallet.
As can be seen, the Viacoin (VIA) team is working to make the coin a giant in future. Part of their achievements includes being listed on Binnance, Bittrex, Upbit, and Poloniex. Their 2018 goals are reasons for the coins potential future.