Month: November 2018

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Pluton

What Is Pluton?

Pluton is one of the products designed with the target of addressing the payment challenges of the blockchain niche. It is a decentralized and open source cryptocurrency designed to facilitate direct payments the same way people do with credit or prepaid cards in the market today.

The primary goal for discovering and launching the blockchain technology in 2009 was to facilitate faster, cheaper, and reliable transactions. But these objectives have faced myriads of challenges that prevent the adoption of the blockchain. To address the issues, developers have been forced to edge their creativity a notch higher in search for more creative solutions.

The Pluton system, found at Plutus.it, comprises of a payment platform, a debit card, and mobile application. This unique design helps to ensure that you can carry your coins, follow transaction history and make payment anywhere in the globe.

The main goal is allowing users to load the card with different coins and being able to make a purchase where other cards such as Visa are accepted.

  • A closer look at the Pluton coin

The Pluton coin and its native ecosystem were created by a UK based company referred to as Block Code Ltd. The founders were concerned that though the blockchain platform was advancing at a fast rate, there was an urgent need for a system that people could easily identify with easily.

When the coin was launched in September 2016, the value was $3.0. Then, the price dropped to $1.26 by December 2016. By April 2017, the price rose marginally to $2.13 and continued growing to hit another peak of $19.6 in June 2017.

The price took a downward trend reaching a low of $4.2 by the close of November 2017. In the subsequent two months, the value grew to hit a high of $30.72. But the good performance was short-lived.

Starting from January 2018, the value of Pluton coin took a bearish trend culminating to $1.3 by the close of October 2018. The ability of Pluton platform to use different coins makes the community believe that its native coin’s price is likely to grow in value in the coming years.

Note that this price prediction is only speculative. If you want to invest in the native coin, it is important to appreciate that digital coin markets are highly volatile. Therefore, make sure to spread the investment and only invest what you can afford to lose.

What is the problem that Pluton Solves?

  • Difficulty in purchasing and owning cryptocurrencies

When the benefits of cryptocurrencies are recited, many people express the desire to own and use them. However, the process of acquiring the coins is complicated.

For example, to buy Bitcoin in the markets requires users to register with an appropriate exchange, verify their accounts, and form appropriate trading pairs.

If the exchange that you have selected does not allow cash deposits, the process can be even more complicated because you have to start from another platform such as Coinbase or Kraken that support fiat.

To avoid these complications, many people opt to stay away from cryptocurrencies. Pluton targets to simplify the process by making it as easy to use as a credit card.

  • Many traders do not accept crypto coins

Though many traders know about cryptocurrencies, they do not use them. The cryptocurrencies are complicated because users have to follow a system of lengthy private and public keys before effecting payments. In other cases such as when running a Bitcoin or Ethereum transactions, the process takes very long because of poor scalability.

Therefore, traders have been seeking a reliable method that could use cryptos but operate like the standard payment methods. This is why Pluton adopted the debit card system.

  • Centralization of financial services in the market today

The conventional financial services are highly centralized. All the operations such as confirmation of transactions and data management are done at a centralized point. For example, when you initiate a transaction to send value through a bank system, the management has to conduct background checks in line with the anti-money laundering and know your customers rules.

This bureaucratic design implies that transactions are not private and they take very long to be completed. In some cases, wire transfers can take up to four days before being effected.

  • High cost of sending value with conventional financial services

Because the conventional financial organizations are profit-based, they charge high transaction charges when people want to use their platforms. The fee goes to meet costs such as paying staff, paying rent, and optimizing profitability.

The Pluton system targets to cut this cost by providing a peer2peer platform for people to run direct transactions. Whether you are making payment for goods on a store or simply sending value, the cost is very small if you use the Pluton system.

How Does Pluton Solve The Problem?

The Pluton design was created after a thorough review of the blockchain system’s challenges and years of research. Here are some of the strategies used to address the problems identified in the system.

  • PlutusDex

The conventional crypto exchanges model in the market today makes the process of acquiring and using the native crypto coins very complicated. To address the issue, PlutusDex uses an integrated exchange that allows people to instantly convert their coins to the preferred currency.

The PlutusDex helps to match the coins you have in the system with equivalent USD or GPB so that you can make a direct payment in your preferred stores.  The good thing with PlutusDex is that you are not required to make additional registration or pay transaction charges.

When making payment, Pluton users enjoy the latest prices because they are compared with the top exchanges in the market. This is considered the most advanced method of linking fiat and cryptocurrencies.

  • The Pluton rebate system

Once you join the Pluton system, the development team will motivate you to continue using it for direct shopping in both online and other offline stores downtown. The Pluton rebate system rewards users with Pluton coin when they the Plutus debit card with Bitcoin or Ethereum.

  • The Pluton tap and pay system

To make the Pluton system as close as possible to the conventional systems, its debit card allows you to simply tap and pay with Ethereum or Bitcoin. This implies that you will no longer have to worry about getting the shops that accept cryptocurrencies.

Even if you are in a shop that only accepts credit cards, simply tap the Plutus card and the payment will clear immediately in either USD or GPB. In their website, they indicate that people with Plutus debit cards can pay with it in more than 40 million stores across the globe.

What makes Pluton better than it’s competitors?

When Pluton was launched, the founders and the development team were committed to fighting for their space in the highly competitive niche. Its design and focus have helped to win a bigger community and grow the value of the native coin. Here are some of the things that make Pluton better than its competitors.

  • The Plutus debit card. The debit card is designed like other cards such as Visa to make it portable and easy to use. You can load the card with fiat currency or digital coins and use it to make direct payments in different stores across the globe.
  • The Pluton system allows users to make direct payments in over 40 million stores across the globe. This implies that the system has opened the door for people with Ethereum, Bitcoin, and Pluton Coin to spend their coins just like fiat currencies.
  • The Plutus card has helped to remove the fear that stores had in accepting cryptocurrencies. They simply accept the payment with Pluton and the clearance is made in USD or GPB. This method is being considered the best strategy for linking fiat with cryptocurrencies.
  • The Pluton decentralized system allows operates with a system of nodes spread in its network to ensure that there is no single point of failure. It implies that you can join the network and operate without worrying about losing money through issues such as bankruptcy or mismanagement.
  • When you join the Pluton system, you can operate without worrying about third-party seizures. Unlike with the standard exchanges that can easily share your data with authorities, Pluton is different. For example, Coinbase recently shared data of accounts that handled more than $20,000 in its platform with the US tax authorities.

By operating a decentralized exchange, it implies that user information in Pluton remain as private as it is in the native networks. Therefore, you can enjoy using Pluton without worrying about third-party seizures.

  • Unlike other platforms such as Bitcoins or Bitcoin Cash networks that only support the native coins, the Pluton system supports three coins. You can buy, exchange, or pay with Pluton coin, Bitcoin, or Ethereum.

The support for different cryptocurrencies means that more people are likely to find meaning in Pluton. This is expected to grow the value of the coin in the market.

How can Pluton better categorized?

Pluton is the next generation crypto and payment platform that has helped to redefine the industry. Even as other crypto platforms struggle with the problem of being accepted as a method of payment, Pluton is likely to make the digital coins just like the fiat currencies.

Its unique design and committed team are likely to keep the platform more vibrant and native coin in great demand. For many crypto enthusiasts, Plutus debit card is a must-have item even if they have other coins.

What’s Pluon’s vision on Security?

The Pluton vision on security is to become the most secure crypto network for all. After seeing the industry suffering from major attacks such as the Mt. Gox hack that resulted to loss of 600,000 BTC, the Pluton development team wanted to offer users some assurance that their coins would be completely safe. Here are some of the strategies used to keep the coins safe.

  • The platform encrypts all the user information to ensure that no third party or attacker can easily access it. This implies that you do not have to worry that a third party such as a court of law or tax authorities can access your details.
  • The development team progressively evaluates the system to identify vulnerabilities and addresses them through updates.
  • The system uses a decentralized exchange which implies that users do not have to send fund to centralized exchanges. Therefore, you have total control over the coins in your crypto wallet.

Examples of Pluton’s use cases / applications

One area where Pluton has outdone other cryptos is in its many applications. The development team wanted to ensure that people could use the coins in all areas of their lifestyle without worrying about getting rejected. Here are the main use cases of Pluton.

  • Use the Pluton system to pay for goods and services in the supported coins. The design of the Pluton ecosystem is to ensure that over 40 million stores across the globe can accept the coin. The secret is ensuring that the actual value of the Bitcoin or Ethereum can be established at the point of purchase. The ecosystem also allows users to make payment with fiat even if they only have cryptos in their systems.
  • Use Pluton to pay for government services. Because the Plutus card is loaded with your coins, there are two options for paying government services. You could pay with fiat currency or digital coins if you reside in states such as Arizona or country like Singapore.
  • Use Pluton Coin to trade in the markets. To make money using Pluton coins, you can trade them in the exchanges such as Bittrex and Binance. These are markets that operate like forex platforms but deal with digital coins only.
  • Use the Pluton coins as a gift. If you have Pluton coins, you can use them as a gift to your friends and family instead of fiat currency. The coins act just like fiat when used together with the Plutus Debit card.

https://www.plutocoin.org/

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Waves Community Token

What Is Waves Community Token?

The blockchain technology will change the globe. That is right. Since 2009 when Bitcoin entered the market, over 1600 cryptocurrencies have joined the industry and there is no sign of slowing down.

Every month, there are a number of ICOs (initial coin offerings) running in the market to gather funds for crypto-related or non-related projects. However, purchasing and selling the new tokens is never easy because they run in different countries with diverse laws and currencies.

To remove these challenges, a platform referred to as Waves that harmonizes all the buying and selling of new tokens in ICOs was created. However, even running the ICOs is still complex because of the many evaluations required to ascertain that ICO is right. This is why the Waves Community Token (WCT) was created.

  • A closer look at Waves Community Token (WCT)

The Waves Community Token (WCT) is decentralized and open source cryptocurrency created with the objective of offering a tool for community assessment of various crowdfunding campaigns that are run on the Waves platform. The token was also intended to help incentivize the people who hold the WAVES coin (main coin in the Waves network).

The platform was opened in February 2017 when 20% of the total tokens were released into the market. Note that the coins were distributed to all the people who hold the WAVES tokens. This means that the Waves Community Token (WCT) is an additional incentive to help those with some stake in Waves to carry additional roles of assessing the crowdfunding in the market.

  • The performance of the Waves Community Token (WCT) in the markets

When the Waves Community Token (WCT) was released into the market on February 2017, the value of the native coin was $0.3. It declined to $0.2 in May 2017 before rising sharply to hit a peak of $4.0 in June 2017. But the good performance did not last.

Between June and October 2017, the price declined to $0.5 before rising steadily to reach another peak of $5.25 on 23rd December 2017. This was the highest mark in the Waves Community Token (WCT) history.

Starting from late December 2017, the value of Waves community token took a bearish trend that culminated to $0.2 by the close of October 2018. As ICOs become more important in funding crypto projects, the Waves Community Token (WCT) demand is expected to increase and push the price up.

What is the problem that Waves Community Token Solves?

As one of the fastest growing methods of raising funds, ICOs have become items of abuse by people who only want to raise funds and then running away from the community. Though a noble idea of raising funds fast, the main question remains; “How can you tell the difference between a good and bad crowdfunding project?”

  • Concerns that most ICOs being held today are fraudulent

In September 2017, China banned all ICOs in its jurisdiction indicating that they are fraudulent. China was so furious that it ordered all the exchanges that had received money from ICOs to return to investors. Though China was thought to be against cryptocurrencies, the issue was put into better perspective by the US Securities Exchange (SEC).

To demonstrate that many scammers can go to great lengths to steal from unsuspecting investors, SEC went ahead and created a fake ICO with a spruced website, white paper, and payment structure. Investors could not tell that it was a scam.

This implies that the risk of getting defrauded is still very high. The Waves community token (WCT) targets to subject ICOS to severe scrutiny to ensure that only the good ones run on the Waves platform.

  • The danger of blockchain and tokens losing credibility

Think of a situation where you buy tokens only to realize that they were pump and dump scheme? Such a scenario is likely to make tokens lose credibility in the eyes of investors. Such is the scenario that is likely to play as more fake ICOs hit the market.

However, this problem is likely to affect even the new projects that are seeking funding from the community. The current trend where projects raise a lot of cash in no time is likely to reverse. If investors back and the blockchain projects stall, the entire blockchain niche is likely to recede.

  • Slow uptake of cryptocurrencies in the market

Even as the blockchain niche keeps growing, concerns have emerged that the uptake of cryptocurrencies is slowing down. When an ICO is announced, most of the people who rush to buy are investors seeking to make a profit when the value grows.

What this implies is that though the industry appears to be growing, the application in daily lifestyle such as payment for goods and services is poor. The target of Waves community token is creating ample motivation to attract more people into the network.

How Does Waves Community Token Solve The Problem?

The main target of Waves community token is placing the power of deciding the tokens to be listed in the Waves system in the hands of the community. Here are the main roles that those with Waves community token do to help identify the right crowdfunding.

  • Business side verification: The Waves community token holders help to follow the businesses to establish if they are real enterprises. They also evaluate the operational model to gouge if a business is viable and worth investing in. For example; the community will want to know how long the business has existed, it is licensed, its management, and profit report in the last couple of years.
  • Proof of Concept verification: Before a token is released through an ICO, it has to release a proof of concept. Call it the white paper. This is a detailed outline that defines every component of the new token and its relation to the main concept. If there are mathematical demonstrations, they have to be vividly captured and demonstrated.

The community goes a step ahead to test the concept and its application in different scenarios. In some components are unclear, the token issuer might be required to provide a clarification or get the crowdsale approved or risk getting disqualified.

  • Token specs advice: Having been in the cryptocurrency network for some time, the community members have sharp skills to easily note the crowdsale that have issues. Therefore, they provide advice on different crowdsales not just to pull them down, but to also clarify the core components. If an ICO is lacking in a small area, the community will help with ideas on its improvement.
  • Help with product and services integration: Depending on the service that your startup is introducing into the market, holders of Waves community token will be there to help integrate it into the community. Consider it as a form of marketing for the new ICO and the services that the enterprise is introducing into the market.

What makes Waves Community Token better than it’s competitors?

The Waves community token has been described as the next big thing in the industry. Its design has helped to reintroduce the concept of decentralization in project analysis. Here are some of the things that make Waves community token better than its competitors.

  • The token is associated with a highly successful coin, WAVES. When a new token is released into the market its association with a more successful token or project is considered to have an equally high potential. In the case of Waves Community Token (WCT), its association to Waves has made people develop a lot of trust in it. This is why it has been performing very well in the market.
  • The coin touches on crowdfunding which determines how successful a project operate. If you plan to release a new token, it is important to appreciate that a lot of effort is required. You need a lot of resources to meet the coding, legal, website development, management, hosting, and security consideration. This is why many projects start with crowdfunding.

By attaching the Waves Community Token (WCT) to approval for crypto projects, the token has become a point of interest. This popularity has helped to draw a bigger community and grow the value of the token.

  • The coin has been performing well in the market. As other coins in the market struggle to attract more people and grow in value, it has been, very easy for Waves community token. Since the tokens were distributed to those who already had WAVES, a large following was guaranteed.

The community has continued to grow as more people join the community that helps to determine whether an ICO is okay or not. You can also become part of the community by purchasing the coins in the market.

How can Waves Community Token better categorized?

The Waves Community Token (WCT) is a pioneer coin designed to decentralize the approval or crowdsales. The token was created to help make work easier for the Waves platform while adding credibility to the ICOs taking place in the community.

The token has demonstrated that though the ICOs had become the center of abuse, it is possible to cure the issue with additional scrutiny. The model is likely to get replicated as cryptocurrency communities target bringing back credibility to the blockchain niche.

What’s Waves Community Token’s vision on Security?

The Waves Community Token (WCT) vision on security is to make the token the most secure and attractive in the market. The team wanted to help restore trust in the cryptocurrencies so that individuals and even governments can believe and adopt crowdsales.

To achieve the vision on security, the Waves development team employed the following strategies and features:

  • The platform is run as a completely decentralized network. Before a confirmation is given on whether an ICO is good or otherwise, the community has to come to a consensus.
  • The Waves Community Token (WCT) and user details are encrypted to ensure that third parties do not easily get access to the details.
  • The project is led by an aggressive team that progressively evaluates the network to seal gaps and vulnerabilities.
  • The Waves Community Token (WCT) operates on the Waves blockchain that helps to serve as an additional layer of security.

Examples of Waves Community Token’s use cases / applications

The effectiveness of a cryptocurrency in the market is partly determined by the use cases.  The Waves Community Token (WCT) development team has worked hard to increase the use cases of the token and raise its value. Here are some of these use cases.

  • Waves Community Token (WCT) is used to motivate the members of the team that assesses the effectiveness of ICOs. Once you have the tokens, you can convert them to WAVES or other preferred coins in the exchanges.
  • Trade Waves Community Token (WCT) in the markets. Like other tokens, WCT can be traded in the markets. Note that trading the token requires one to join the preferred exchange and selecting a trading pair.
  • You can use the Waves Community Token (WCT) to send value on a peer2peer basis. As a peer2peer coin, users can send value directly without involving centralized third parties such as banks. This implies that the process is fast and cheap.
  • Use the native tokens to save funds or invest in the industry. If you do not want to save money in a centralized bank, one good alternative is the Waves Community Token (WCT). When you purchase the tokens, they help to store value, and you can recover it by selling in the market.

The Waves Community Token (WCT) is considered a good investment option today because of the growing interest from the community. For example, the bearish trend running from January 2018 to the third quarter of 2018 is expected to change in the coming years as ICOs take root.

Note that even though the Waves Community Token (WCT) is considered a high potential coin, the expectation is speculative. Therefore, it is advisable to invest wisely because cryptocurrencies are highly volatile.

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