Month: October 2018

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SpreadCoin

What Is SpreadCoin

When Satoshi Nakamoto released Bitcoin, he demonstrated that it was possible to run completely decentralized transactions without relying on centralized organizations such as banks and credit card companies. Now, SpreadCoin has come to advance the same concept and take it to the next step.

  • A brief history of SpreadCoin

SpreadCoin is a decentralized and open-source cryptocurrency designed to help prevent centralization of mining pools.  The coin was developed in 2013 and released in July 2014 through an Initial Coin Offering (ICO).

Like Bitcoin Satoshi Nakamoto, SpreadCoin founder is only known by the name Mr. Spread. The anonymity of the founders is targeted to help shield them from possible legal suits associated with creating cryptocurrencies. At this point, it is important to appreciate that digital coins are not regulated.

In the United States, the federal administration appears unclear of the route to follow as the Securities Commission and Exchange Commission (SEC) and the Commodities Futures Trading Commission (CFTC) appear to pull in different directions.

Though this anonymity has helped to advance the decentralization course at SpreadCoin, some people feel that it undermines openness. Some examples drawn in this case include other platforms such as Ethereum and EOS whose founders, Vitalik Buterin and Dan Lalima respectively, are well known.

  • SpreadCoin Price performance in the market

The price of SpreadCoin between launch in 2014 and early October reflect a growth of about 4000%. But the growth has been characterized by high volatility especially in 2017 and 2018.

When SpreadCoin entered the market in November 2014, the price was $0.001 before growing significantly to $0.1 in January 2015. However, the price retracted to $0.01 in March the same year and remained around the same mark until February 2017.

Between April 2017 and August 2017, the price shot up to $3.14, the highest mark in the coin’s history. The value dropped to $0.2 before climbing to hit another peak of $3.08 on 9th January 2018.

Like other cryptocurrencies, SpreadCoin price took a bearish trend that culminated to $0.04 recorded in early October 2018. The downward trend is now slowing down and the community expects that the price will start rising again.

What is the problem that SpreadCoin Solves?

The primary goal of cryptocurrencies introduction into the market was to give people a new method of sending funds that is free from censorship and interference. However, the blockchain system has also faced serious challenges that are slowing down blockchain growth. Here are some of these problems that SpreadCoin addresses.

  • Centralization of mining

Mining is the process of confirming transactions and adding new coins into respective networks. The process involves solving complex mathematical puzzles for a reward. To achieve this, many cryptocurrency networks require users to generate high computing power.

At Bitcoin, the mining difficulty has increased so much that individual users find it very hard to mine the coins with GPUs. To mine the system and earn BTC, people have resulted to using pools and expensive mining equipment. The implication of this is that pools have become a new method of centralization.

The centralized mining pools are serious threats to blockchain security by raising the danger of 51%. SpreadCoin targets to address the issue by limiting the ability of pools to mine the platform.

  • Poor adoption and growth of blockchain technology

While the rising number of cryptocurrencies in the market today gives the impression that all is okay, a closer look demonstrates a different story. Many people feel that the process of joining cryptocurrencies is complex and unrealistic. But more people are hesitant to use cryptocurrencies for fear of reprisals by the government.

At Bitcoin, the transactions can no longer be considered anonymous. The platform only uses pseudonyms which can easily be unmasked by following different transactions with advanced technology. SpreadCoin wants to give users the assurance that their operations in the network will be free from third party seizures.

  • Poor scalability

The design of many blockchain networks is to ensure that all or all nodes sign transactions before they can be completed. Unlike in the centralized organizations where only a few people are responsible for confirming transactions, the decentralized design tends to be very slow. At Bitcoin, the system can only support 7 transactions/ second while Ethereum can only do 20 transactions/ second.

Now, compare these rates with those of industry leaders such as Visa that can handle in excess of 20,000 transactions per second. SpredCoin sought to address the problem to make blockchain more competitive and attractive.

How Does SpreadCoin Solve The Problem

The SpreadCoin founder and his development team knew that they had to craft a reliable method that would help address the above problems while encouraging more users to join the network. Here are the methods that SpreadCoin uses:

  • Use of SpreadX11 algorithm

The SpreadX11 algorithm is a proof of work hashing function created by Evan Duffield to help address the problem of centralized mining using ASICs. SpreadCoin took Duffied idea introduced a pool prevention mechanism to it.

The SpreadX11 operates by including additional info on the header (hashWholeBlock and MinerSignature). The additional info ensures that those who mine new blocks on the SpreadCoin will be the first to know the whole block content. This is different from the common pool mining where the pool operators are the first to get the details.

This implies that when a miner finds a new block, he signs a block and transmits it to the network the same way it happens with solo mining. The method makes pool mining rules non-enforceable because any member of the pool can opt to remain with the reward and not share it.

  • Compact transactions

SpreadCoin utilizes a compact representation for signatures in all transactions. Unlike Bitcoin that keeps a copy of the public keys of the corresponding signature, the SpreadCoin omits this so that public keys can be recovered directly from the signature.

This implies that it is not necessary to maintain the public keys of all ECDSA signatures in a block. Therefore, users can keep smaller transactions that require smaller blockchains. This is the method used to increase the transactions that SpreadCoin can handle in the network while keeping the associated cost as low as possible. SpreadCoin transaction size is 67 bytes compared to 139 of Bitcoin.

  • Smooth halving

When Bitcoin core code was released, one notable thing was that the mining reward would half every four years. However, the sharp drop when the halving happens is demotivating and could see miners opting out of the network for other networks.

SpreadCoin introduced a method of smooth halving so that miners do not experience the sharp drop every four years.

What makes SpreadCoin better than it’s competitors?

After Bitcoin launch in 2009, the blockchain space gate flung wide open opening the space to a wide range of coins and varying applications. The early coins such as SpreadCoin have, therefore, been facing serious competition from newer coins. Here are some of the things that make SpreadCoin better than its competitors.

  • SpreadCoin has been in the market for longer and its system has been proven to work. Having been introduced into the market in 2014, SpreadCoin is considered more stable because most of its features have been tested and proven to work.

When new coins enter the market, they have to take a number of years before all the features are tested and proven to work. In many cases, this is about five years. However, SpreadCoin has been in the market for long and its core code is considered very strong. For example, its SpreadX11 feature has proven highly effective in preventing centralized pool mining.

  • The price of SpreadCoin has been performing relatively well in the market. When people set out looking for cryptocurrencies to join, the first thing is following the price performance. Though its price has not been as explosive as that of Bitcoin or Bitcoin cash, the growth has been impressive.

Between launch and October 2018, the price had grown by about 4000%. Besides, its market capitalization that stood at $20,434 in mid-October 2018 is well ahead of others such as Webchain, Citadel, and Bitblocks.

  • SpreadCoin targets a smaller niche of sending value on a peer2peer basis. One trick used by SpreadCoin to edge ahead of others is focusing on a small operational area. Unlike Ethereum and EOS that are focused on multiple activities such as running smart contracts and decentralized operations, SpreadCoin opted to focus on financial transactions only. This is pretty the same model like that of Bitcoin.

However, focusing on a small range of activities is also a disadvantage. For example, it limits the utility of the platform and risks losing users especially those targeting other services offered by other platforms. This is one of the reasons why SpreadCoin value has been sluggish in the market.

  • The cost of sending value on the SpreadCoin is lower than other networks such as Bitcoin and centralized organizations. The low value of SpreadCoin compared to others such as Bitcoin Cash and Bitcoin implies that people can send value at a lower value. The cost is also lower than what banks are charging because the transactions are completed on a peer2peer basis.
  • It allows users to join, use and own the platform. If you use a bank to send value or run a transaction, it feels passive. You are only required to follow the procedures installed in the system and walk away once the transactions are completed. However, SpreadCoin is different.

When a user joins the system, he/she becomes part of the governance system. This means that in the case of an issue that requires voting, you will be called upon to participate. You do not just use the network and go; you own it.

How can SpreadCoin be categorized?

SpreadCoin is a fully decentralized coin that targets to take cryptocurrencies to the point that Satoshi Nakamoto intended. By adopting the unique Spreadx11 algorithm and promoting the individual use of SPR, more people can now enjoy the benefits that come with blockchain services.

What’s SpreadCoin’s vision on Security?

When SpreadCoin entered the market in 2014, the problem of insecurity had become a major threat to many crypto establishments. For example, Mt. Gox was hacked in 2011 and over 600,000 BTC stolen. To make SpreadCoin more secure, the founders opted to use the following strategies:

  • Advanced encryption.
  • Strengthening decentralized operations through SpreadX11 algorithm.
  • Regular network monitoring and updating the core code.

Examples of SpreadCoin’s use cases / applications

The introduction of cryptocurrencies was meant to provide users with an alternative method of sending value but on a peer2peer basis. The following are the main use cases associated with SpreadCoin.

  • Use SpreadCoin to pay for transaction charges on its native network.

When making transactions such as sending value on the SpreadCoin system, you are charged a small fee for motivating miners or supporting the network development. This fee is paid using SpreadCoin.

  • Paying charges when trading the coin in the exchanges.

Trading SpreadCoin in the markets such as Cryptopia requires users to pay operational charges. Because trading requires the user to pair the currency with a different coin, you have two options of paying the charges. For example, a person trading BTC/SPR has the option of paying the cost in either SpreadCoin or Bitcoins.

  • Buying goods and services in conventional stores.

As more stores come out to support cryptocurrencies, people with SpreadCoins have the opportunity to make direct purchases. Note that even in the event that only a different coin is supported, you can still use SpreadCoin by converting it using the exchanges.

  • Paying taxes in jurisdictions that support digital coins.

Though many countries were very negative about cryptocurrencies in the early years of cryptocurrencies, the perception is changing. Now, even some jurisdictions are allowing people to make official transactions in digital coins. One example is Singapore.

The Singapore administration indicated that there is no difference between using fiat currencies and cryptocurrencies. The primary goal is sending value. Therefore, you can pay for government services using SpreadCoin or other digital coins in the country.

http://spreadcoin.info/downloads/SpreadCoin-WhitePaper.pdf

https://coincheckup.com/coins/spreadcoin/

https://cryptomining-blog.com/tag/spreadx11/

 

 

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Pepe Cash

What Is Pepe Cash?

Pepe Cash is a cryptocurrency designed for the art industry. The Pepe cards are assets created to use counterparty blockchain the same way that popular card games Spells of Genesis works.

As the blockchain niche keeps growing, the desire to diversify blockchain’s products stems from Satoshi Nakamoto’s original focus of advancing decentralization.

Though most blockchains such as Litecoin, Bitcoin, and Ripple are directed at the financial niche, concerns have emerged that some sectors such as the creative art are being left behind. This is the gap that Pepe Cash came to fill.

  • A closer look at Pepe Cash

Pepe Cash was designed to operate as the currency for the Pepesphere. This is a creative art niche where people get creative by creating memes and releasing them on social media.

The memes are funny images, videos, or writings that easily go viral within a short moment in the social media.

Unlike in the past when memes were only used for fun, they have become important marketing tools for driving traffic and conversion in websites.

This growing importance of memes and the desire to grow the industry is what prompted the Pepe Cash founders to create the coin.

Note that the founders of the Pepe Cash are anonymous. They decided to operate as anonymous entities as a security measure.

Like Satoshi Nakamoto of Bitcoin launched privately, being anonymous implies helps to shield users from third-party seizures and related legal battles.

  • The Pepe Cash Coin performance in the market

The performance of the Pepe Cash Coin in the market has been impressive. Between introduction into the market in early October 2016 and early October 2018, the value grew by more than 9,500% from $0.00007 to $0.007.

In October 2016, Pepe Cash Coin was trading in the market for $0.00007 and remained around that range until February 2017. Then, it rose significantly to reach $0.02 in May 2017 and continued growing to hit $0.1 (the highest mark in its history) in December 19th 2017.

The good performance did not last long. From January 2018 to October 2018, the price took a downward trend culminating to $0.007. The community has expressed optimism that the price will ultimately take an upward trend.

What is the problem that Pepe Cash Solves?

The entry of Bitcoin into the market signaled the start of a new era of digital currencies. The society had finally gotten a reliable method of sending value securely on a peer2peer basis.

However, not all problems were solved by Bitcoin. Indeed, the decentralized system also introduced some new issues such as scalability. Here are the main problems that Pepe Cash seeks to address.

  • Poor adoption of cryptocurrencies in the market

Though the blockchain niche has been very effective in providing the community with a new solution for sending value, the penetration has not been very effective. Many niches such as medical records, social media and creative arts feel left out.

Pepe Cash targets to be the currency of the creative arts niche. The Pepe Cash system is run in the Bitcoin blockchain which implies that it follows Bitcoin’s operational model transactions but with a different target.

  • Centralization of financial services

The problem of financial service that Bitcoin sought to address still persists. This implies that many people looking forward to send value from one point to another are still required going through third parties such credit card companies that compromise privacy and make transaction very expensive.

The centralized services also compromise users’ privacy by making the details available to a wide array of people. For example, the bank cashiers and management can easily peruse through your transactions. Even third parties such as the banking system and political administrations can get access to the details through court orders.

  • Wrong perception of cryptocurrencies in the market

When cryptocurrencies hit the market, the publicity was very negative. Many administrations were categorical that people who used the coins were at risk of losing their money. The argument was that the coins lack consumer protection and could easily be used for fraud and terrorism.

Because the negative perceptions about digital coins persist, Pepe Cash is seeking to paint the right image by helping people to see the industry positively. The target is crafting a system where all people can easily associate with a blockchain project and make payment with cryptocurrencies.

  • Insecurity of operating in the blockchain system

Since 2009 when Bitcoin was introduced into the market, the industry has been rocked with serious security issues. One example is the attack on Bitcoin Gold that was hacked when it was only a few days old. Other attacks that shocked the crypto industry included the hacking at Mt. Gox where over 600,000 Bitcoins were lost and the recent attack at YouBit that saw the exchange file for bankruptcy. These are some of the threats that Pepe Cash addresses.

How Does Pepe Cash Solve The Problem

To help run the Pepe Cash system, there is an entire ecosystem of artwork created to operate on the Bitcoin blockchain. Here is a demonstration of how the entire system works.

  • The Pepe Cash ecosystem

The first pepe was made by a member of the Boy’s Club in 2005. It was a pepe of a frog. This is why the Pepe Cash Coin took the image of a frog in honor of the first pepe. Now, the industry has been running by simply reimagining the spin-offs.

From the satirical application, Pepes metamorphosed into a complete ecosystem referred to as “pepesphere.” It is the online realm where tokenized pepes are traded and payment is done using Pepe Cash Coin. This means that you can create a pepe and sell on the pepesphere.

The pepes are stored on the Bitcoin blockchain as complete transactions and built on counterparty. This implies that the transactions are run on the Bitcoin platform.

Note that unlike the standard design of the tokens where a definite coin number is released, the creator of a pepe can decide to make copies of 1,100, or 99,999 copies for sale based on the intent. These pepes are included in the Rare Pepe Directory.

Because the blockchain stores only the reference of every piece, the transaction hashes only serve as certificates of authenticity. Therefore, when one buys a pepe from the directory, he receives a token for it in the pepe wallet.

Note that though one can indeed visit the Rare Pepe Directory and copy the artwork, it will not look like the original work. Think of it like copying a piece of artwork instead of downloading the whole thing.

Note that you can also join the ecosystem by creating the pepes and selling them on the network. Simply visit the Rare Pepe Directory to see the rules of creating and submitting new memes.

  • A completely decentralized system pegged to the Bitcoin system

To help give a humorous outlook of the blockchain network, the Pepe Cash system is linked to the Bitcoin network. Using Pepe Cash Coin and Bitcoin is helping to demonstrate the positive side of the blockchain industry.

People who love artwork and marketers targeting to drive traffic to their websites can now use Pepe Cash to promote their work. As political and company satire take the center stage in mainstream media, the blockchain community is expected to shine positively and attract more people.

What makes Pepe Cash better than it’s competitors?

The main goal of Pepe Cash system was to extend the utility of cryptocurrencies in the market to the creative art niche. However, the crypto industry that is drawing a lot of interest and competition is very stiff. Here are some of the things that make Pepe Cash better than competitors.

  • The creative artwork is a relatively new niche that has not been explored by other networks

While most cryptocurrencies are targeted at the financial niche, Pepe Cash Coin is the currency of the creative artwork niche (pepeshpere). This implies that the Pepe Cash Coin is likely to grow faster and deliver high value to users. This is one of the reasons why the value of the Pepe Cash Coin grew by more than 9500% between launch and October 2018.

  • The Pepe Cash Coin has been performing relatively well in the market

Many people who are joining the crypto niche are interested in knowing about the expected potential of the target. As the satire associated with memes keeps growing the demand for Pepe Cash Coin is expected to continue growing at a faster rate than other coins. Note that the bearish trend reported in 2018 hit most coins including Bitcoin. The trend is expected to change and take a bullish trend.

  • The Pepe Cash system has created a new way of looking at cryptocurrencies

The fast-growing demand for Pepe Cash is demonstrating that there is a positive side of cryptocurrencies. It is not right to only associate cryptocurrencies with things such as fraud and scams. You can use the coins to buy memes, pay bills, or as savings.

  • The Pepe Cash system allows users to join and own the system

If you join many cash services such as credit cards and banks, there is a sort of passive feeling. The decisions are made by the management and the users only need to comply. However, the Pepe Cash system allows the user to join and own the system. For example, you can join the network to buy or sell own memes.

How can Pepe Cash be categorized?

Pepe Cash is the first creative art platform designed to help redefine the meaning of cryptocurrencies. The creative method of using the blockchain to generate certificates for accessing pepes from the Rare Pepe Directory is likely to change how people view cryptocurrencies.

Besides, the Pepe Cash system seeks to draw more creative artists and grow the industry. It is this meeting point that will redefine the new positions of creative art and cryptocurrencies in the market today.

What’s Pepe Cash’s vision on Security?

The Pepe Cash’s vision on security is to ensure that people can join its system and access the best pepes without worrying of losing to hackers. With the rising cases of insecurity for crypto platforms such as exchanges, Pepe Cash wanted to give users the assurance of optimal security using the following ways:

  • Advanced encryption of the user details and transactions
  • The Pepe Cash is based on the highly secure Bitcoin blockchain
  • The Pepe Cash’s development team progressively review the network to identify and remove vulnerabilities with regular updates

Examples of Pepe Cash’s use cases / applications

The Pepe Cash platform was designed with the main goal being to extend the blockchain technology to the creative art’s niche. The following are the main use cases:

  • The Pepe Cash coin is used to buy pepes from the Rare Pepe Directory. The coin is the native asset that all artwork lovers and even marketers targeting the pepes should use. Even if you have a different coin, it has to be converted to Pepe Cash coin.
  • Use the Pepe Cash platform to create and sell pepes. The Rare Pepe Directory is a unique repository that any user can join to create new pepes and sell to interested parties.
  • Use the Pepe Cash coin to save funds. Pepe Cash coin, like other coins such as Bitcoin, can be used as a store of value. You only need to buy the coins in the exchanges and hold them.
  • The Pepe Cash coin is a reliable way of sending value. If you are looking forward to sending value from one part of the globe to another on a peer2peer basis, consider using Pepe Cash coin. It allows users to send funds directly without relying on third-party companies such as banks and credit companies.

Note that because the Pepe Cash platform is not a profit-making enterprise, the cost of sending value is low and the transactions are completed instantly. Remember that both the sender and recipient must be in the Pepe Cash platform to send value.

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