Month: December 2018

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HunterCoin

 

What is HunterCoin?

HunterCoin is and decentralized and open source cryptocurrency created for the gaming community. It was designed to extend the application of blockchain technology to the society to help more people enjoy the benefits of decentralization.

The coin was created in 2014 by a team only referred with the name Snailbrain. The coin works by requiring users to collect the tokens on a virtual map after fighting other players for the resources. It has helped to bring the element of artificial intelligence into the blockchain to improve the gaming experience and thrill for players.

  • The price performance of HunterCoin

HunterCoin, like other digital currencies such as Bitcoin, took a bearish trend in 2018. The price drop went down and sunk below the starting point. This implies that investors who bought the coin when it first hit the market in February 2014 were counting loses of more than 2400% by the close of November 2018.

After entering the market in mid-February, the value of HunterCoin was $0.5. Then, it shot up to $0.8 in the subsequent three days before crashing suddenly to $0.08 on April 13th, 2014. But the drop did not stop there.

By September 2014, the price had reached a low of $0.0099 and remained within the same range until August 2016 when it started rising steadily. In early 2017, the price set on an early uptrend that would define the performance of the year.

On 13th January 2018, the price had risen to reach the starting mark of $0.5. But the positive show in 2017 was followed by a steady decline in 2018. By the close of November 20o18, the value of HunterCoin had reached a low of $0.01.

What is the problem that HunterCoin solves?

Since 2009 when Satoshi Nakamoto released the first blockchain, newer networks have been exploring the gaps in pioneer coins and sealing them with improved tokens. This is the model that was used to create HunterCoin. The coin was created to help address the following key issues:

  • Poor extension of cryptocurrencies beyond the financial niche

If you take a closer look at most cryptocurrencies in the market today, they are targeted at the financial sector. By only focusing on the financial sector, it implies that other niches are left out and people in those industries miss the benefits associated with blockchain technology.

One of the areas that have lagged behind is the reality gaming niche. While the gaming concept has grown steadily especially with the fast-growing numbers of smartphones in the market, people have been looking for better user experience with digital coins. This is the gap that HunterCoin came to fill this gap.

  • High cost of sending value especially international payments

If you take a closer look at the conventional financial model used by banks, the transaction charges are very high. The cost is especially high when users are sending value to different countries.

The main cause of the high fee is that banks and credit card companies are designed as profit-based entities. The management of these enterprises has to explore all the available avenues to increase revenue generation and please the shareholders. One of these methods is increasing the transaction charges.

The financial systems also have to explore the available method of raising more funds to meet their expenses. For example, banks have to set up bases downtown the main cities where rental space is very expensive. They also have to pay wages and other costs such as power and maintenance.

  • Poor scalability

When blockchain technology entered the market in 2009, people believed that the solution they had been waiting for many years had finally dawned. It was impressive. But the blockchain technology suffered from own design.

Because the networks are decentralized and do not have centralized management to guide operations, most roles are done by miners spread in the respective blockchains. Though impressive, the consensus system takes long especially in the pioneer coins that rely on proof of work (PoW) protocol.

If you take the case of Bitcoin, it can only manage less than ten transactions every second. Even newer networks such as Ethereum and Bitcoin Cash can only handle 20 and 60 transactions/ second respectively.

As the crypto niche grows, the demand for networks that can deliver higher scalability keeps going up. The crypto networks also have to compete with other conventional financial providers such as Visa that can manage more than 20,000 transactions every second.

How does HunterCoin solve the problem?

To address the above issues, the HunterCoin development team opted for the following strategies and features.

  • The HunterCoin operates as a completely decentralized platform

The main strategy employed by HunterCoin to address the above issues is decentralization. The network operates through a network of nodes spread in its system. This implies that it does not rely on centralized profit-seeking organizations such as banks or credit card companies.

When a transaction is initiated, it is taken by miners spread in the HunterCoin network. Then, they follow back to confirm the user has ample funds and prevent double spend. This model means that all transactions on the platform are peer2peer and, therefore, are cheaper and faster.

When users join the HunterCoin network to act as nodes, they also own the platform. The system requires them to vote on various governance issues to advance the system to the next level. For example, you can be called to vote when a new feature to improve the network is proposed.

  • Supports merge mining

The HunterCoin development team adopted the merge mining model to help motivate their miners to stay on the network and protect the system. Like other coins such as Bitcoin and Litecoin, the mining reward in HunterCoin half every four years. However, this can demotivate the miners because the mining difficulty keeps increasing.

Merge mining means that the same computing power can be used to mine another coin without reducing its efficiency on the original coin. In the case of HunterCoin, users can simultaneously mine Bitcoin and Litecoin. This implies your computing power will deliver more to keep you motivated.

  • Dual-algorithm

The target of reaching more people and making them join the niche requires a lot of creativity. The HunterCoin development team opted to use two algorithms, SHA256, and Scrypt in the same network. This was aimed at helping people with advanced mining equipment such as ASIC as well as those with GPUs to easily mine the network.

What makes HunterCoin better than it’s competitors?

To win in the crypto market today, development teams have to craft good strategies to outdo competitors in the industry. By the third-quarter of 2018, there were more than 1600 coins in the market. But HunterCoin is also competing against other players including non-blockchain based games and traditional financial service providers. Here are the main things that make HunterCoin better than competitors.

  • The coin has targeted a niche that has been overlooked by other cryptos. This reality gaming niche has been sidelined by many developers because of its complexity. However, the HunterCoin option of venturing in the niche is likely to give it a near monopoly status.
  • The HunterCoin allows users to join and own the network. This means that once a user joins the platform and acquires some coins, he will also be called to vote on governance issues. This helps users to identify more with the platform compared to the conventional banking or credit card models.
  • The HunterCoin system allows people to send value and invest in total anonymity. Unlike in the banking system where all transaction details and user info can be accessed by many people such as cashiers and financial planners, the HunterCoin system is different. All the personal details are encrypted so that no third party can know about your details.
  • The coin has been in the market for long enough and its features can be trusted to work. Today, the cryptocurrency community has become concerned about new projects being released into the market because some have proven to be scams while others are pump and dump models. But HunterCoin is a tested and proven project after being in the market since 2014.
  • The HunterCoin has helped to bring down the cost of transactions with a great margin so that users can send funds without worrying that v bulk of the value will be taken as a fee.
  • The HunterCoin network uses artificial intelligence to enhance user experience. This method has helped to keep players coming back to play and maintain the network through mining.

How can HunterCoi’s be categorized?

HunterCoin is a completely decentralized cryptocurrency designed to help extend the blockchain technology to the gaming niche. The development team was very committed to try new ideas and seek reliable solutions for the industry. For example, it was the first to demonstrate that a blockchain can use dual-algorithm to increase the efficiency of its operations.

What is HunterCoin’s vision on security?

The HunterCoin’s vision on security is to become the most secure crypto and gaming platform in the market. The coin was developed at a time when attacks directed at crypto establishments, especially the exchanges had become rampant. For example, MT. Gox and Bitstamp were attacked millions of dollars worth of digital coins siphoned away.

To keep the HunterCoin secure, the founder and development team employed the following strategies.

  • Progressive review of the crypto network to identify gaps and seal them before attackers can take advantage of them.
  • The platform uses advanced encryption that helps to keep user info private and away from third-parties.
  • By operating as a completely decentralized platform, HunterCoin native tokens are evenly distributed to help reduce the danger of 51% attack.

Examples of HunterCoin’s use cases/ applications

When cryptocurrency networks join the market, the goal is to attract as many users as possible. This is achieved by increasing the use case for different communities. Here are the main use cases of HunterCoin.

  • HunterCoin is a reliable network and coin for sending value on a peer2peer basis. As a decentralized crypto network, the transactions are completed on a peer2peer basis to make them faster and cheaper.
  • The coin is designed as the native coin for the HunterCoin network. This means that you can use the coin to pay for different games offered on the platform. It is also becoming a preferred coin in the gaming niche and can be used to pay for games in other supported networks.
  • Like Bitcoin or other crypt coins, HunterCoin can be used to pay for goods and services in the market. You only need to identify a store that accepts HunterCoin to be able to make direct payments. Even if a store only supports a different coin, you can still use it by changing it to the accepted coin in the markets.
  • The HunterCoin can be traded in the exchanges. If you want to make more cash from HunterCoin, consider trading it in the exchanges. Crypto trading works like the forex markets but deals with digital coins as opposed to crypto coins.

Note that trading will require you to start by joining the targeted exchange and registering for a trading account. You will also be required to identify an appropriate trading pair before executing a trade.

  • If you live in a jurisdiction such as Arizona or Singapore that support cryptocurrencies, it might be possible to pay for government services using HunterCoin. For example, Arizona allows users to pay for taxes using digital coins.
  • HunterCoin can be used as a method of storing value. Instead of saving money in a bank, you can buy the native coins and hold them until the time you will need the funds. The good thing about storing value in cryptos such as HunterCoin is that you can enjoy good returns when the price grows.

However, it is also important to appreciate that the price can take a negative turn and cause major losses. Therefore, it is crucial to follow the best practices when buying native coins. For example, you should carefully review the preferred coin to ensure that only the high potential tokens are purchased.  Besides,  it is advisable to spread investment between various assets to reduce the risks of loss.

 

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Breakout Stake

What is Breakout Stake?

Breakout Stake is a digital token of the Breakout Coin Company, a global multi-currency payment firm that supports coins with varying properties. The other supported tokens include Breakout Coin, and the Sister Coin.

The coin was founded by James Stroud who was concerned that the coins in the market by 2016 were not addressing the issue of cross-chain interoperability. James and his development team wanted to create a platform that could be used to easily address emerging issues in the blockchain networks.

The total supply of Breakout Stake is 6.28 million coins. This is approximately 1/3 of the total number Bitcoins that will ever exist in the market. The founder argued that a limited supply will help to keep the coin’s value high and deliver returns on investment to users trading it the markets.

  • The Breakout Stake price performance in the market

Breakout value, especially in 2018, took a bearish trend just like other coins in the market. Many digital coins have experienced dipping prices starting from early 2018 as the value corrects the sudden rise reported towards the close of 2017. The value of Breakout Stake also followed a similar trend.

After entering the market in mid-July 2016, the value of Breakout Stake was $0.44. However, it dropped sharply to $0.o9 by July 26th, 2016 before recovering to $0.2 by the close of August the same year.

Between September 2016 and March 2017, the value of Breakout Stake dropped steadily to hit a low of $0.07. However, the remaining half of 2017 was marked by the impressive performance that culminated to $2.80 on January 9th, 2018. This was the highest mark in the Breakout Stake coin’s history.

The good performance of the coin did not last long. Immediately after hitting the peak in January, it embarked on a decline that culminated to $0.09 by the close of November 2018.

What is the problem that Breakout Stake solves?

The Breakout Coin Company entry into the market was necessitated by the unending problems that threatened to halt blockchain technology from success. Here are some of the issues that Breakout Stake addresses.

  • Poor cross-chain inter-operability

While it is true that significant strides have been made in the crypto niche, the problem of poor cross-chain capabilities is threatening the industry. Unlike banks that allow people to simply write cheques to recipients in other financial institutions, the cryptocurrencies have no method of directly relaying value between chains.

If you have some Bitcoins and want to send value to a recipient in the Ethereum platform, there is no direct method to achieve the goal. To make such transaction possible, you will need to start by changing the Bitcoins to Ethereum using a cryptocurrency exchange. The process is lengthy and complicated.

The Breakout Coin Company targeted to use its currencies to help address the issue. It seeks to make it easy for users to simply send value from one chain to another without joining the two networks.

  • Complex decentralized apps development environment

Though a lot of people and businesses have developed an interest in the blockchain niche, the entry point can be tricky and complicated. For example, a lot of businesses would like to use initial coin offerings (ICO) to raise funds for development but the process of managing it is complex for them.

The thoughts of owning a native coin or running a decentralized system can also be possible with a simplified platform for all. This is what the Breakout State platform created to offer. The goal is to help users understand the blockchain technology and identify a specific niche they can fit to grow together with the industry.

  • Centralization of financial services

If you use financial services through a bank or credit card companies, your resources and info are managed in a centralized manner. The conventional financial service providers are strictly governed by laws of the jurisdiction they are based in. This makes it easy to control inflation and enforce rules such as anti-money laundering (AML) strategies.

However, centralization comes with serious issues such as the high cost of sending funds and lack privacy. Besides, your funds are at a higher risk of getting lost through attacks by malware such as ransomware or mismanagement.

  • Centralization of mining

The original design of decentralized networks introduced by Bitcoin involved using computing power to solve complex mathematical puzzles in order to confirm transactions. However, the mining difficulty keeps increasing requiring more computing power to be able to viably mine the networks.  To address the problem, the tech companies started generating advanced Application specific integrated circuits (ASICs) that generate high hashing power for profitable mining.

The main issue with ASICs is that they are very expensive and only the wealthy can afford them. This means that the process of mining new coins and governance is left to the well-to-do in the community. The danger of this is that the respective networks are at greater risks of suffering from 51% attack while the idea of decentralization is also compromised.

How does Breakout Stake solve the problem?

The Breakout Stake team took time studying the issues that affected the blockchain niche and adopted the following strategies to counter them:

  • Support for side chains

To address the problem of cross-chain operation, the Breakout Stake native platform is designed to use turing complete smart contracts that support side chains. This helps to simplify the process of creating blockchain for new users.

If you are a startup and has been targeting to create a blockchain, the Breakout chain has simplified the process so much that there is no need to start from scratch. Most of the work has been done for you so that you only need to follow their recommendations to create a side chain that will  run attached to the main network.

When new users start and run side chains, they can easily communicate with each other so that sending value will not require using an exchange. This model mimics that used by the Ethereum and its support for ERC20 coins.

  • Operates as a hybrid of proof of stake and proof or work protocols

The pioneer consensus protocol in the blockchain industry was proof of stake that was used in Bitcoin. Though it is the most used protocol in other coins such as Bitcoin Cash, Litecoin and Ethereum, it comes with major shortcomings such as the danger of 51% attack.

To retain the benefits such as top-notch security that come with proof of work, Breakout Stake team opted to blend it with another protocol referred to as proof of stake. Now, users do not have to generate a lot of computing power to get rewarded with native Breakout Stake coins. Rather, they only need to stake them to become part of its governance system.

  • Breakout Stake is run together with other coins

To ensure that more people can join and use the Breakout Coin platform, the founder designed the platform to support multiple coins. This helps to provide users with more options so that they can choose the preferred coins. You can opt to use Breakout Stake, Breakout Coin, or the Sister Coin.

  • Complete decentralization

The Breakout Stake platform operates as a completely decentralized network that relies on nodes in the system to run transactions. This implies that when a transaction is initiated, there is no centralized authority such as a bank that is involved.

The miners spread in the system pick transactions and follow the public addresses to check whether the person sending funds has ample coins to spend. Then, they add the transaction to the next block and include it in the ever–growing public ledger.

Running as a completely decentralized system implies that transactions are completed faster and at lower rates. Besides, they are encrypted so that there are no third parties that can easily know the details of users’ financial history.

What makes Breakout Stake better than it’s competitors?

Breakout Stake entered the market when the rate of new coins joining the market was approaching the peak. Note that it was not just competing against other crypto coins. As a payment system, it had to compete against conventional financial service providers such as banks and credit card companies. The following are the main things that make the coin better than competitors.

  • The coin is led by a tech team that progressively works on impressive features for the network. For example, the team has developed and implemented ‘fee scavenging’ that allows users to pay transaction fee with a different coin.
  • The Breakout Stake coin allows users to mine the network by simply getting a stake in the system. This implies that you can mine the coins using standard GPU by simply acquiring some stake.
  • The network provides users with a reliable platform to easily create blockchains. This implies that a startup can complete creating a blockchain in record time because most of the work has already been done.
  • The Breakout Stake provides users with a good opportunity to join and own the network. By operating as a completely decentralized model, users on the network also own it. You can even suggest areas that need improvement and have the community vote on the proposal.
  • As a completely encrypted network, you are able to send value without worrying of getting discovered by third parties such as tax authorities.

How can Breakout Stake’s be categorized?

Breakout Stake is a creative coin introduced to demonstrate that the blockchain niche is vibrant and can evolve to deliver reliable solutions. The unique design of the Breakout Coin chain to support multiple coins and side chains using smart contracts demonstrated that with creativity, the blockchain niche can overcome all challenges on the way.

The idea of side chains has helped to redefine the niche especially by steering it away from centralized exchanges. As far as a side-chain is attached to the mother Breakout chain, it is possible to send value directly.

However, you need to appreciate that such cross-chain operations are only possible within the Breakout system. For example, you will still need to use an exchange to change Breakout Stake to another coin such as XRP if sending value to the Ripple network.

What is Breakout Stake’s vision on security?

The Breakout Stake vision on security is to provide users with a   secure platform for sending value and running their decentralized applications. It is important to note that Breakout Stake was released at the point when the crypto niche was coming to terms with the infamous DAO Child attack that resulted to spit of the Ethereum platform.

To keep the Breakout Stake and its platform secure, the development team opted for the following features.

  • The system operates as a hybrid model of proof of stake (PoS) and proof work (PoW) to facilitate even distribution of coins. This has been very helpful in preventing the danger of 51% attack.
  • The development team progressively reviews the platform to identify gaps and closes them before attackers can take advantage to compromise the system.
  • The platform uses smart contracts to define the rule of operations between the side chains and the main chains.
  • It operates using advanced encryption that helps to keep the user info secure and free from third parties.

Examples of Breakout Stake’s use cases/ applications

To reach out to more people and encourage them to come and use the Breakout Stake, the development team wanted to ensure it has as many applications as possible. The focus is on helping users integrate it into their daily lifestyles. Here are the main use cases.

  • Use the Breakout Stake to trade in the markets that list it.
  • The Breakout Stake coin can be used to pay for goods and services in stores that accept it.
  • Breakout Stake can be used to pay for taxes and government services in jurisdictions such as Arizona and Singapore.
  • The Breakout Stake coin can be used to send value across the globe on a peer2peer basis.
  • Instead of saving cash in a bank, you can buy Breakout Stake coins and hold them as a store of value.
  • The Breakout Chain can be used for decentralized application development and running startup side chains.

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