Monero V is having difficulty launching the network

At the moment, hard forks are a fairly common occurrence in the world of cryptocurrencies. Although the Monero network has showcased several clone forks recently, it appears that work on the Monero V fork has not gone according to plan. In fact, the planned launch date for the network has already passed, but there is still no working code for the system.

It should be noted that in theory, the Monero V hard fork had some promise. While it's not a currency that can monero-istoriya-sozdaniy.html">monero or similar cryptocurrencies, a fresh approach and perspective is never a bad thing. Unfortunately, it seems unlikely that we will ever know what the Monero V fork is really capable of.

The first task when doing business with a new cryptocurrency is to create a working network. For altcoins, this is usually a simple task. (Although there are exceptions, for example EOS and TRON, which are still in the testing phase networks despite multi-billion dollar market caps.)In the case of Monero V, the launch of the main network is unlikely to happen anytime soon, despite the fact that it was scheduled for the end of April. According to the plan, the Monero V network was to be launched when the Monero blockchain reached the number of blocks 1,564,965. At the time, this seemed like a fairly ambitious goal, and apparently the developers were unable to commit to their own schedule.

In addition to this, the code for the Monero V wallet has also not yet been developed. This is a very worrying sign and has already fueled speculation that MoneroV is a scam since day one. It is possible that the developers have good intentions, but at the moment everything looks exactly the opposite. Failure to stick to a self-imposed schedule does not inspire much confidence.

Of course, one could argue that the project suffered from poor execution. This is not uncommon in the cryptocurrency world, although it is one of the few even remotely popular altcoins to miss the deadline in such spectacular fashion. Further, quite interesting events will probably follow, since users did not receive the promised XMV on time.

The future of this fork is in limbo. Decoupling from Monero and creating a hard fork is a viable approach, but developers also need to be competent enough to deliver on what is promised. 

This is not happening yet, but the team can still have time to save its reputation.. Every project should be given a fair chance, even though Monero V is far from a triumphant launch.

Read also: Today there are four “Monero projects”

According to https://themerkle.com