Month: November 2018

Posted on

Triggers

What is Triggers?

Triggers (TRIG) is a decentralized and open source cryptocurrency created by Blocksafe Foundation with the target of revolutionize the defense technologies ecosystem through the use of technology. The goal of the foundation is to look for effective ways of reducing gun-related crime in an anonymous way.

The Foundation and its Token were created by Kevin Barnes, a US Army veteran with many years of experience as a System Coder. The Triggers token and its platform sought to provide a reliable system for innovators in the security ecosystem to seek safety solutions.

The project was first announced in July 2016 when the company held its initial coin offering (ICO) on Bittrex crypto exchange. Here is a closer check of Triggers price performance in the market after the ICO.

  • The Triggers (TRIG) performance in the market

When the Triggers (TRIG) entered the market in October 2016, the value was $0.02 before dipping slightly to $0.01 in the next month of November. However, the value started rising slightly by growing to $0.14 by June 2017 and breaking the $1 mark to hit $1.33 by mid-September.

After dropping marginally to $0.55 in early November, the value resumed the bullish trend and rose steadily to hit $8.85 on 4th January 2018. This was the highest mark in the Triggers (TRIG) history. But the show did not last at the top for long.

The price shot down reaching a low of $1.62 in the subsequent month of February. The bearish trend continued in the subsequent months to reach a low of $0.1 in August 2018. Though the value has been on a downward trend in 2018, the community holds the view that it will ultimately grow as more people appreciate the extra need for gun safety.

What is the problem that Triggers solves?

While other niches such as sending value or social media are easy to use without worrying of serious liabilities, things are different when it comes to safety especially the use of guns. For example, the much that can happen in a financial system is losing one’s investment. However, life might be at risk when it comes to guns. Here is a closer look at the risk and other problems that Triggers (TRIG) comes to address:

  • Lack of a reliable centralized system for smart gun technology innovators

If you follow many smart gun technology developers, they steer away from centralized servers because of the huge liabilities that come with using guns. For example, they avoid deploying their technologies using centralized servers because in the event of mistakes, the liability would be held responsible.

Most of the smart gun tech companies opt for short wireless protocols such as Bluetooth that are less effective and fragmented. This is why a trustworthy solution in is needed in the niche. Triggers (TRIG) came to fill this gap through decentralized operations.

  • Limited uptake of blockchain outside the financial niche

When the term blockchain is mentioned, what comes into the mind of most people is the financial sector. From Bitcoin to Ripple, all the coins are largely targeted at the financial sector. But this limited targeting has made some sectors to be left out. One of these sectors is the smart gun technology innovation and development. This is the void that Triggers (TRIG) comes to address.

  • Centralized payment systems in the market today

Though cryptocurrencies have been in the market for some time, it is interesting to note that their adoption still remains very low. Do not be cheated by the fast-growing number of cryptocurrencies in the market. It is true that they represent a growing appreciation, but the fast release into the market does not correlate to the number of those using the token.

When new tokes are released, those who rush to buy are the wealthy in society. They buy the tokens when the value is low and sell when it grows several months down the line. To appreciate this, simply take a walk downtown. Only a few stores if any accept digital coins.

Even if you go online, only a limited number allows traders to pay with digital coins. Indeed, the traders have a preference for highly rated digital tokens especially the top ones such as Bitcoin and Ethereum. Triggers (TRIG) comes to help change the trend.

How does Triggers solve the problem?

Addressing the issues reported of the smart gun technology niche required a lot of creativity. Here, the Triggers (TRIG) creators had to look for a technology that was highly reliable without taking liabilities. Here are some of the methods used to address the issues:

  • A decentralized method of locking gun identity to the owner

When you have a gun, the fear of getting into the hands of the wrong people such as kids or thieves never fades away. To prevent this, Triggers works with tech promoters who install embedded technology on your gun so that it does not fire unless the owner has it.

If an unauthorized person tries to fire from the gun, the owner is notified. This makes it easy to track the gun, prevent crime, and recover it promptly. Note that this is done in a decentralized way so that the technology developers do not take responsibility when users fail to follow instructions or apply them incorrectly.

  • The Triggers (TRIG) platform supports decentralized apps development

In addition to supporting the easy identification of the guns for the owner, the Blocksafe Foundation provides a platform for related safety apps development. This means that more applications can be deployed and gun users have the option of selecting the most effective.

Because the data is stored in the blockchain, it implies that the tools will be able to work with different types of guns ranging from locks to magazines among other hardware. Note that to access and use the applications, you will need to have the Triggers coin.

  • Decentralization of Triggers (TRIG) and data storage

To make the system deliver the results that Blocksafe anticipated, the Foundation opted for a completely decentralized system. This means that data is stored in different nodes in the Triggers blockchain to ensure that there is no single point of failure.

Decentralization also helps to ensure that transactions run on the platform are peer2peer. This implies that the cost of sending value is low and prompt because no centralized profit-seeking organization is involved.

What makes Triggers better than it’s competitors?

When Triggers hit the market in 2016, the crypto field had very many players. Therefore, it had to fight its way to win a significant market share and remain relevant in the industry. Here are some of the things that make Triggers (TRIG) better than competitors.

  • Triggers (TRIG) target a niche that has been less explored by the crypto community. This means that it is likely to enjoy near monopoly and grow rapidly as more people join to keep their guns safe.
  • The project is led by a tech and highly enthusiastic team. The team comprising of top coders who have worked many years in the military implies that it understands all the ins and outs of the niche. This confidence is giving the community hope that the coin will rise in value and deliver good return on investment.
  • The Triggers (TRIG) operates as a completely decentralized system. Instead of relying on a centralized system such as a bank or credit card company, the Triggers blockchain stores data on the nodes spread in the network across the globe. Therefore, there is no risk of losing data and technology can be used in any place across the globe.
  • The price of the Triggers coin has been performing well in the market. Though 2018 has seen the value of the coin remain on a bearish trend, it cannot be considered to be simply a Triggers coin thing. Indeed other coins including Bitcoin and XRP have been on a similar negative trend in 2018. Despite this, the value of Triggers (TRIG) by close of October was still higher than the opening value in 2016.
  • The platform runs as an open source system that supports developers’ tools. This implies that more developers can join the network and help to grow it by attracting more users and increase the value of the coin.

How can Triggers’ be categorized?

Triggers (TRIG) is a unique crypto that targets to redefine the smart gun technology development niche. The coin and its native platform have managed to extend the technology to a niche that many players have been operating total secrecy for fear of taking liabilities.

The Triggers (TRIG) system has helped the developers operate in a harmonized way to promote innovation without worrying of reprisals. Because of the impressive solutions from the development team, the platform and its native e coin are likely to grow rapidly and compete against the top cryptos in the market.

What is Triggers’ vision on security?

The Triggers’ vision on security is creating a workable framework that allows people to operate securely on the blockchain and with their guns. The vision is extended to the physical use of guns because of the fast-growing concerns for gun crime in the community. Here are some of the methods that the Triggers system employs”

  • The Triggers system uses advanced encryption that prevents easy access to personal and transaction details of individuals on the platform.
  • The network is run by a tech team that regularly reviews the system to identify and fix gaps.
  • The platform operates as a decentralized network to ensure that there is no single point of failure for their information and transaction-related data.
  • The network operates as a platform for decentralized platforms that allow more developers to craft better and more secure smart gun tools.

Examples of Triggers use cases/ applications

Though Triggers (TRIG) is targeted at the gun safety technology niche, the development team has indicated that it will try and expand to other areas including those dominated by other coins such as Ethereum. Here are some of the Triggers use cases:

  • The Triggers platform and token are mainly targeted at helping users to protect the gun vault. This means that you can use the platform to ensure that the gun is protected from unauthorized use.
  • The Triggers blockchain helps to share sensor data using decentralized applications. This technology is applied with the latest artificial intelligence to help with data interpretation and ensuring that guns that fall in the wrong hands are recovered securely.
  • The Triggers platform technology is used to set smart locks in guns to ensure that the triggers are only used when justified. This is important in preventing the guns from accidental firing. The locks are also very helpful in linking to health records to gun ownership so that mental adequacy of users of proof beyond reasonable doubt.
  • The decentralized technology is helping to prevent users from suffering virus attacks especially ransomware that encrypts files and forces owners to pay for decryption. This is possible because your data is stored in different computers and, therefore, there is no risk of one point of failure.
  • The Triggers system has become a reliable method of proving personal precaution when court battles haul into their doorsteps. Using the data stored in the decentralized system, you can easily demonstrate to a court of law about your effort to stay secure.
  • Like other coins in the market, Triggers (TRIG) can be traded in the exchanges. This means that you need to identify the exchanges such as Bittrex that list the coin and open a trading account. Then, deposit your funds and create an appropriate trading pair with Triggers (TRIG). Good examples of such pairs include TRIG/XRP and BTC /TRIG.
  • Triggers (TRIG) can be used to send value across the globe on a peer2peer basis. Because there are no third party firms such as credit card companies involved in the transaction, the cost is low and transactions are cheaper than using the banks.

https://whitepaperdatabase.com/triggers-trig-whitepaper/

https://coincheckup.com/coins/triggers/charts

https://coincheckup.com/coins/triggers

https://coincheckup.com/coins/triggers/analysis

https://coincheckup.com/coins/triggers/news

 

 

 

Posted on

Mintcoin

What is Mintcoin?

Mintcoin is a decentralized and open-source cryptocurrency created with the primary goal of helping people run transactions in an eco-friendly way. The coin uses proof of stake (PoS) protocol to reduce the demand for power like other proof of work (PoW) coins.

When it was launched in early 2014, the coin used to run on proof of work (PoW) consensus before shifting to proof of stake protocol. To advance the principle of anonymity, the coin’s founder opted to remain anonymous. Maintaining total privacy helps founders operate without worrying about third-party seizures.

  • The performance of Mintcoin in the markets

When Mintcoin entered the market in February 2014, its value was $0.000025. By November of the same year, the price had sunk deeper to $0.000012. The value remained low until May 2017 when it started rising steadily due to growing demand.

On June 14th, 2017, the value had risen sharply to $0.00027 before taking a bearish trend to hit a low of $0.000086 in October. Starting from November 2017, the price rose sharply to hit a high of $0.0028 by early January 2018. However, the positive show did not last long as the price dropped to $0.0005 by 10th Feb before rising marginally by the close of the month and resuming to the downward trend.

By Early October, the price had reached a low of $0.00012 but started showing some signs of recovering. The commitment of the development team to improve the network has made the community believe that the coin will finally grow to deliver a high return on investment.

What is the problem that Mintcoin solves?

When Mintcoin was launched in 2014, the crypto niche was reeling from serious issues that threatened to halt its growth. To help the industry remain on the growth path, here are some of the issues that Mintcoin solves.

  • High cost of power required for crypto mining

Many pioneer coins in the market were designed to operate using proof of work protocol. One notable thing about the protocol is that it requires a lot of energy to execute transactions. The miners in the system who help to confirm transactions have to generate a lot of hashing power to solve complex mathematical problems for a reward.

If you take the case of Bitcoin, you will notice that conservation activists have been complaining it is using a lot of power. For example, it is estimated that the global power used by all Bitcoin nodes is more than $2.55 gigawatts. Annually, the Bitcoin system uses more than 22 terawatts-hours which is almost the same quantity that Ireland needs in a year.

When the energy requirement of all the coins that use proof of work protocol is consolidated, it might be enough to run more countries for many years. The concerns for high power consumption have become a serious issue in all areas because of the diminishing fossil fuels.

In the crypto niche, the argument is that mining can be achieved through alternative technology to help conserve energy for other uses. These are the alternatives that Mintcoin explores.

  • Centralization of mining

Mining in cryptocurrencies is the process of confirming transactions for a reward. This means that nodes spread in a crypto network have to solve complex mathematical puzzles in order to add new blocks to the public ledger and get rewarded with native coins.

As the mining difficulties of cryptos that use proof of work algorithm goes up, the industry has crafted a way of generating more hashing power through advanced equipment such as ASICs. But the biggest problem with ASIC mining equipment is that they are expensive and, therefore, only available to the rich. This implies that bulk of the coins in the market will fall in the hands of a few individuals or mining pools.

The centralized nature of the coins also raises the danger of more players planning to attack the system if they control majority coins in the network. This is referred to as 51% attack.

  • Poor adoption of cryptocurrencies in the market

The first release of blockchain network in 2009 by Satoshi Nakamoto was received with great enthusiasm. About ten years later, the number of crypto networks in the market had grown to hit more than 1600.  However, it is interesting to note that these coins have not penetrated into the society as one might anticipate.

Most people in the society are yet to associate with cryptocurrencies because they are complex to understand while others follow their governments’ warnings. For example, the US, the EU and Russian administrations among other countries have been warning their citizens against investing in cryptocurrencies because they are highly volatile.

The Mintcoin wants to address the issue by ensuring that everyone can easily access and use the coins. It targets to remove the perception that the cryptos are all negative and people should only stick to fiat.

How does Mintcoin solve the problem?

The Mintcoin development team understood that the issues facing cryptos were complex and required a multi-dimensional approach. Here are some of the methods adopted by the team to address the above issues.

  • Use of proof of stake consensus algorithm

The main cause of high power requirements in mining is the application of proof of work protocol in cryptocurrencies such as Litecoin and Bitcoin. Indeed, even Mintcoin used proof of work consensus algorithm within the first few weeks of establishment.

The next alternative that uses less power is proof of stake (PoS). Instead of requiring nodes to generate high computing power, PoS protocol requires network users to simply hold some stake. After its adoption by Mintcoin, it means that you can mine the network using a standard GPU or CPU if you buy some stake.

  • Complete decentralization

Most issues raised by the community can be addressed through complete decentralization. Mintcoin operates as a completely decentralized network. The network allows users to run transactions without using centralized organizations such as banks and credit card companies.

When a user initiates a transaction such as sending value on the Mintcoin system, it is taken by miners in the system across the globe. Then, they follow back to establish whether the user has ample coins to use in order to prevent double spend.

Once they confirm that everything is okay, the transaction is added to the next block and attacked into the public ledger. Note that once the block has been added to the blockchain (public ledger), the transaction cannot be reversed. This means that if you mistake the recipient address, the coins you wanted to send will be lost permanently.

  • Availability in multiple platforms

To make more people easily access the MINT coins, the development team targeted to make them available in many exchanges. Some of the exchanges that support the coin today include Cryptopia and BitBox and SouthXchange. Note that buying the coin will require you to start by registering for a trading account, depositing your funds, and creating an appropriate crypto pair.

What makes Mintcoin better than it’s competitor?

The competition in the crypto niche has been very stiff. In about ten years starting from 2009 when Bitcoin was launched, over 1600 coins have hit the market. Therefore, every new network has to define its competitive advantage to outdo others and grow over time. Here are some of the things that make Mintcoin better than competitors.

  • The Mintcoin is considered a stable network because it has been in operation since 2014.
  • The network is cheaper to use because transactions are completed without involving centralized and profit-seeking organizations such as banks.
  • Sending value on the Mintcoin network is faster and more convenient because they are completed on a peer2peer basis.
  • The Mintcoin platform allows users to operate anonymously without worrying of third-party seizures.
  • When you join the Mintcoin platform a node, you are considered one of its owners. This means that you will be called to vote when governance issues such as change of protocol and the addition of new features are being made.
  • The platform allows users to join and get rewarded by simply holding a stake in the native network. This means that you do not need a lot of computing power, your carbon footprint is low, and the network can be mined with standard GPU and CPU.

How can Mintcoin be categorized?

Mintcoin is a truly decentralized cryptocurrency that is designed with a clear goal of addressing the high cost of mining power. Its design and early shift from proof of work to proof of stake helped to redefine its commitment to eco-friendly operations.

Examples of Mintcoin’s use cases/ applications

The Mintcoin’s vision on security it to become a highly secure and decentralized network that nodes can rely on for all their financial needs. The development team was concerned that the high cost of power and centralized mining were key pre-determinant of the risks that faced many crypto networks. To achieve the vision on security, here are the main strategies employed at Mintcoin.

  • The system encrypts user details and their transactions to ensure they remain anonymous all the time.
  • Mintcoin system uses proof of stake protocol that helps to evenly distribute MINT coins and avoid the danger of 51% attack.
  • The development team progressively reviews the protocol and releases updates to help seal gaps and reduce vulnerabilities.

What are the Mintcoin use cases?

One of the main methods used to establish the user value of a cryptocurrency and its native network is the application. Like other coins in the market, Mintcoin has been focusing on winning more people to help advance the use of cryptos in the market. Here are some of the Mintcoin applications:

  • Use Mintcoin to pay for transaction fee on its native network

If you want to run a transaction on the Mintcoin system, the transaction fee is paid using MINT coin. Note that the transaction fee is smaller than what banks charge or the top networks such as Bitcoin and Ethereum since their value is still high.

  • Trade Mintcoin in the crypto markets that list it

When the cryptocurrencies entered the market, they opened a new line of trade that closely resembles the forex trading system. One cryptocurrency you can trade in the crypto markets is the Mintcoin. You only need to identify an exchange that lists the coin, register for an account and start trading.

Note that just like forex trading, it is important to focus on learning the tricks of crypto trading before starting to operate in the markets. This should include how to interpret trends, types of cryptocurrency pairs, and the right times to make trading moves.

  • Pay for government services in the market with Mintcoin

When cryptocurrencies hit the market in 2009, many governments were irked by their popularity. They felt that they were created to interrupt the orderly outlook of the finance systems. However, things are changing as governments start appreciating the positive side of cryptos.

Some administrations such as Singapore, Switzerland, and Arizona are even allowing users to make direct payment for services with cryptocurrencies such as Mintcoin. For example, Arizona residents can pay taxes using cryptocurrencies.

  • Use the Mintcoin and its platform to invest in crypto markets

If you want to save or invest funds, one of the top options in the crypto niche is the Mintcoin.  The good thing with the coin is that it is encrypted and no third party can easily know about your financial history. Besides, investing in cryptos such as MINT could help to increase the chances of getting good return on investment (ROI) if the value grows.   

  • The Mintcoin coin is a good method of sending value across the globe

Instead of sending funds across the globe using the banking system which is risky, slow, and expensive, a better option is to use a crypto such as Mintcoin. As a decentralized network, it implies that users send value on a peer2peer basis. Therefore, transactions are faster, cheaper, and secure.

  • Pay for goods and services

As more stores come out to support cryptocurrencies, you will be able to pop into a store nearby and make direct payment using Mintcoin. Note that even if the store of choice only accepts another coin, you can still make a purchase by converting your Mintcoin to the supported coin.

https://coincheckup.com/coins/mintcoin/analysis

https://coincheckup.com/coins/mintcoin

https://coincheckup.com/coins/mintcoin/predictions

https://coincheckup.com/coins/mintcoin/purpose