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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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Anoncoin

What Is Anoncoin?

Anoncoin is a decentralized and open-source cryptocurrency designed with the primary goal of enhancing privacy. Originally, it was created as a fork of Litecoin but was later updated to include the latest aspects of Bitcoin Core 0.10.

The project was created by Meeh who was concerned that the onslaught on cryptocurrencies by governments was likely to halt them from further growth. Therefore, he wanted to craft a reliable coin that people could use without worrying about third-party seizures.

  • The history of Anoncoin (ANC) in the market

Since its establishment in 2013, Anoncoin has performed relatively well in the market making the community to believe it could be the next big thing in the market. When the coin first hit the market in July 2013, the value was $0.02. Then, it grew marginally to hit $0.2 by 20th November 2013 before shooting up to $11.97 in early December of the same year. This was an impressive growth of more than 59,600% from the starting price.

After the positive show towards the close of 2013, the price took a downward trend reaching $0.6 by May 2014. He downtrend continued making Anoncoin hit $0.01 in the first quarter of 2017

What is the problem that Anoncoin Solves?

When Anoncoin was released in 2013, a raft of issues had become characteristic of the industry. But the Anoncoin founders and developers opted to handle the following two issues.

  • Lack of privacy

 The conventional setting of a banking system does not have any privacy. From cashiers and managers to the political system, your financial account, getting your financial details is easy. This is why cryptocurrencies were created. But the issue of privacy continued being a major hurdle, especially for the pioneer coins. Take the case of Bitcoin.

When Bitcoin was launched in 2009, people thought that they had finally found the reliable solution for optimal privacy. But it soon emerged that Bitcoin is not as private as people expected. Here are the main methods that your transaction details can be accessed by third parties.

First, user info can be known through transaction graph analysis. The graph evaluation helps to identify trends and drawing a conclusion on who is related to them. This analysis is made possible because though Bitcoin only uses pseudonyms that hide the personal names, the addresses are accessible.

  • IP address analysis

The main goal of IP address analysis is trying to identify the computers that host Bitcoin full nodes that broadcast transaction. The process involves evaluating the thousands of Bitcoin full nodes to narrow down to those from a specific area.

Though very complex and less refined compared to transaction graph evaluation, it is still possible using modern technology. Lack of privacy has made a lot of Bitcoin users to opt for other coins that guarantee optimal anonymity.

  • Centralized mining

To run decentralized networks such as Bitcoin or Litecoin, the system relies on a network of miners to distribute the native coins. After Bitcoin release, mining was easy because the mining difficulty was low. This implies that any person with a CPU or GPU could comfortably mine and own the native coins.

The growing demand, popularity, and commercialization of crypto coins saw a lot of players developing interest in mining. The ultimate impact was the development of Application specific integrated circuits (ASICs) that generate a lot of mining power. While this sounds good, it marked the beginning of a major problem of centralized mining.

Because ASICs are very expensive, only those with a lot of money can afford them. This implies that mining becomes a rich man affair. As more coins fall into the hands of a few pools, mining companies, and rich people, there is a danger of 51% attack.

How Does Anoncoin Solve The Problem?

To address the above issues, the Anoncoin uses a multi-dimensional approach that includes the following strategies.

  • Anoncoin uses Invisible Internet Project

Invisible internet project (abbrev 12p) is an anonymous overlay network within another network. The target of adopting the 12P at Anoncoin was to help protect communication from dragnet suvei8llance and monitoring via third parties like ISPs.

The technology operates as a simple layer to help users carry messages anonymously and securely between each other. Besides, all messages are end-to-end encrypted while the end-points use cryptographic identifiers (call them public keys) to decode the info.

In order to anonymize the messages, the Anoncoin uses 12P routers built on inbound and outbound tunnels. When a client makes a transaction, it is run through the routers to ensure it runs anonymously.

  • The application of the Onion Router (Tor)

The onion router is software for facilitating anonymous communication. The process involves directing traffic via a free and volunteer overlay network that comprises of thousands of relays to help conceal user’s location and transaction details.

By employing Tor, Anoncoin users are assured that their activities cannot be easily traced even by third parties. This implies that you can enjoy running transactions without worrying that third parties such as government agencies will easily know about. However, it is important to avoid using exchanges that have know your customer (KYC) requirements because the details you want to cover will be revealed.

  • Total decentralization

To help advance the course of anonymity and centralized mining, Anoncoin operates as a completely decentralized network. The network uses a system of nodes spread in its network. This implies that it does not rely on a centralized system such as banks and credit cards.

Initially, the Anoncoin used scrypt proof of work (PoW) because it was memory intensive. However, a new update 0.9.7.1 released on October 23rd, 2018 set the Anoncoin from scrypt to GOST R proof of work. The shift is expected to help make mining the Anoncoin network more difficult for parties using ASICs.

GOST R helps is helping to advance the course of decentralization by ensuring that as many nodes as possible can be involved in the Anoncoin system. Now, you can join the system as a node using the standard GPU or CPU and enjoy all the associated benefits.

What makes Anoncoin better than it’s competitors?

When Anoncoin platform was created, the founders and the development team knew that they were in stiff competition with other networks. Here are some of the main things that make Anoncoin better than competitors.

  • The Anoncoin system allows users to operate in total anonymity. This means that users can enjoy sending value on the network on a peer2peer basis without worrying about being discovered by third parties. Indeed, even a court of lay cannot order for your details because the cryptocurrencies are not regulated.
  • The Anoncoin network is cheaper and faster. Unlike banks that are profit-based, the Anoncoin system runs as a completely decentralized system. This implies that people sending value do it on a peer2peer basis without involving centralized entities such as banks. This makes the transactions direct and cheaper.
  • The system allows users to join and own the network. When you decide to join the Anoncoin system, you become part of it. The nodes in the system help to confirm transactions through mining and with governance. You will, therefore, be called upon to help make crucial decisions about the network such as new features.
  • The network has been in operation for many years. The crypto community has become very cautious about digital coins that are released to simply defraud investors. It takes a couple of years for a new crypto to be confirmed stable and its features demonstrated to work. In the case of Anoncoin, the crypto has been in operation since 2013 and its system has been proven reliable and effective.

How can Anoncoin be categorized?

Anoncoin is a truly anonymous and decentralized cryptocurrency. Its design and features such as the onion router system and application of the invisible internet protocol have all helped to guarantee users that their coins and information will be completely secure.

What’s Anoncoin’s vision on Security?

The Anoncoin’s vision on security is making its network and native coin the most secure and anonymous in the industry. The founders had observed the security issues in other networks and came up with the following strategies to keep the system secure:

  • The system uses the advanced GOST R proof of work after shifting from scrypt proof of work algorithm.
  • The development team comprises of a high tech team that progressively reviews the network to identify vulnerabilities and addresses them before attackers take advantage of them.
  • The system operates as a completely decentralized system to ensure that the coins are evenly spread to prevent the danger of 51% attack.
  • The coin has been performing relatively well in the market. This can be seen from the fast-growing community and the expected value growth.

Examples of Anoncoin’s use cases / applications

As the number of cryptocurrencies in the market keeps growing, one of the goals of Anoncoin’s development team has been to win as many applications as possible. Here are some of these use cases.

  • You can use the Anoncoin to pay for goods and services in the markets. As more stores come out to accept digital coins, you will find it very easy to directly pay for goods and services. Simply check for the stores that accept Anoncoin to make direct payment.

Even in the event that only a different coin is supported, it is still possible to use Anoncoin by changing it to the supported token. Note that changing the coin to another will require using the services of an exchange.

  • The Anoncoin is a reliable coin for saving money or investment. Because Anoncoin is completely private, you can save money in its system without worrying about third-party seizures. If the growing demand for the coin helps to push the price upwards, your savings will deliver good return on investment.
  • Consider using Anoncoin to pay for your taxes. Unlike ten years ago when most governments never supported cryptocurrencies, things are changing. More administrations are realizing the benefits of crypto coins and supporting them.

In jurisdictions such as Singapore, Switzerland, and Arizona, you can pay for some government services. Take the case of Arizona.

In April 2018, Arizona passed bill HB 1091 that allows residents to pay for taxes using cryptocurrencies such as Anoncoin. According to HB 1091, the tax authorities in Arizona are required to convert the coin into USD and credit user accounts with the money immediately.

  • Use the Anoncoin to trade in the markets. The crypto markets are the exchanges that bring together buyers and sellers so that prices are driven by forces of demand and supply. To trade in the markets such as Bittrex, you have to start by creating a user account and identifying an appropriate pair such as BTC/ANC or ANC/XRP.

To trade profitably in the markets, it is advisable to start by learning the inherent strategies. For example, you need to know about interpreting the market trends so that your moves are more profitable.

  • Like other coins such as Bitcoin, Anoncoin is also a good token for sending value on a peer2peer basis. Because ANC coins are based on a completely decentralized, users send value directly without involving centralized third parties such as banks or credit card companies. This implies that your funds will be sent faster, more securely, and cheaply compared to conventional financial services.

NOTE: It is prudent to note that though Anoncoin has worked so hard to ensure that all transactions are anonymous, users are still vulnerable especially when they use the exchanges. These are markets run under the local laws and that require users to provide a lot of personal that can be used to identify them in line with know your customer (KYC) and anti-money laundering (AML).

In April, Coinbase said it would share details of traders who had handled more than USD 20,000 starting from 2015. This means that even if you enjoyed the privacy provided by Anoncoin, your privacy is still under threat.

The solution is using decentralized exchanges that do not require additional registration. Good examples include IDEX, Bancor and Waves DEX. The decentralized exchanges seek to extend anonymity espoused in the blockchains to trading platforms.

 

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