ADSactly on ADSACTLY - part #42
ADSactly - CurveCoin Club
ADSactly clubs are chat channels in our Discord Chat where we gather to talk about projects that members are interested in or are a part of them. We have recently started #curvecoin club. Let's have deeper look into this very interesting project.
CurveCoin is a decentralized masternode cryptocurrency project. The experienced team behind it put in a significant effort in creating their vision and transforming it into reality. The vision is to cut down the lengthy process of converting crypto into fiat money before spending it. They plan to cut down all intermediaries and directly involve merchants in the process. This is a very wanted vision for all present and all future crypto projects.
As we all know, at the moment the process is long and quite tedious. It mostly benefits the intermediary service owners, making them rich in the process of taking percentages for each transaction. We welcome all efforts that will cut down unnecessary profits of various intermediaries services and make the overall decentralization a reality.
The team has a straightforward plan of how to add real spending power to their coin. It relies on building a service that will allow nodes to become independent coin swapping services. This is very interesting approach and definitely one that might get very popular in the near future.
- A Swapper must deposit into escrow the total amount they want to swap from users at any given time
- A user wants to make a purchase with a merchant. Merchant communicates with Curve API and Curve finds a compatible swapper at the best rate
- Curve pays merchant using escrow previously paid by swapper
- Merchant delivers product/service to user
- Swapper exchanges the altcoin and reloads escrow to continue swapping
The team working on CurveCoin has been consulting Top 10 crypto companies and they've built wallets for Top 100. What we find very important is their expertize and know-how. They obviously learn from past mistakes, draw rational conclusions and are not afraid to publicly speak of the solutions which they are planning to implement. CurveCoin is definitely a major long-term project build on successful past experience.
1 . The Problem of Masternodes
The way masternode auctions are conducted for the majority of new coins is NOT optimal. Most new coins will auction off 10 or 20 masternodes at a very high amount (2-3BTC), some with low collateral pricing the coin at upwards of $20-40 each. We believe this increases the price of the coin too quickly verses the rate of adoption, isolates masternode spots (limiting network scalability), and ultimately crashes the price when adoption begins correcting for the over-inflated initial offering price and initial investors panic sell.
- The Solution:
Sell more masternodes to increase initial adoption and to stabilize holdings. Require more collateral per masternode to protect the investment. Lower (or cap) the initial price of masternodes so early adopters get in at a fair rate that has plenty of headroom to scale. Curve Coin will auction 50 masternodes, at 25,000 collateral, at a capped rate of 1 BTC per masternode (limiting coins to $0.43ea at the time of writing this). This will represent 5% of the network. We will encourage masternode holders to host their nodes in various parts of the planet (some coins recommend a single VPS, creating a single point of failure).
2 . The Problem of Exchanges
Many new coins are rushing to exchanges after selling masternodes at a very high price and the volume isn't there to support it, which often leads to the price decline. This appears especially true on exchanges that possess less market share. We understand that it's important to ensure the coins have tangible value, and exchanges are the only real way to do this, but we believe there are ways to be more cautious about the approach.
- The Solution:
Early adopters, especially masternode holders who get in at a fair price, stand to benefit the most from a successful coin. However, we can't expect regular traders coming to the exchange, who haven't followed the progress of the coin, to just buy in at a high price and hand us the rewards we seek. So it's important to meet a minimum threshold of publicly available content before we can expect the general public to become excited about what we're doing. As mentioned above, we've found that this effect only compounds on exchanges that have low volume/low market share in general. Because it is becoming ever more difficult and expensive to get listed on an exchange, Curve Coin will rush the effort to become listed on an exchange as a reservation, however we will schedule the actual listing date with the exchanges to ensure that we have met the threshold of publicly available content and user traction before it goes live. We will have our position of what we consider that threshold to be, but we will open up to community vote for actual exchange launch date. See the schedule below for a brief rundown. In addition, we want to run multiple phases of exchange launches, progressively listing on exchanges of higher volume, because higher volume exchanges enforce an equilibrium with those of less volume.
3 . The Problem of Use Cases
Most new coins launch today without a differentiating purpose. This makes it difficult to get the general public behind it after being listed.
- The Solution
There are two phases involved in the creation of this coin. 1.) The appeal to early masternode investors so that the project can start at all. 2.) The appeal to the masses so that the project can go to the next level (thereby benefiting the devs and masternode holders). We are obviously in phase I (getting off the ground phase). As that happens, we will work with and communicate with our early advocates (via discussion and open voting) to work out the specifics of executing phase II. For now, here is a synopsis of where we think the next level is for this coin: We believe that widespread adoption and actual usage of cryptocurrencies will be the next transformation of the economy. So we've invented a practical methodology for allowing merchant payment processing with any coin, working in conjunction with a "three party" exchange for fulfilment.
These solutions are valid and we believe that CurveCoin project will turn to be a success. It deserves a club in ADSactly and therefore it got it. The coin is currently traded at Crypto Bridge. There are also several mining pools avaliable. If you are interested to find out more and download a wallet, please visit their website http://curvecoin.co/. You are also very welcome to come to ADSactly discord and share your opinion with us.
If you are interested in joining the ADSactly Society, please read the blog series on ADSactly from the beginning. Have all of your questions answered in advance.
ADSactly on ADSACTLY - Part # 1 Open-Value Network / Co-opoly
ADSactly on ADSACTLY - Part # 2 Do-ocracy / Value Network
ADSactly on ADSACTLY - Part # 3 Open Stewardship
ADSactly on ADSACTLY - Part # 4 Society's Value Contribution System
ADSactly on ADSACTLY - Part # 5 The Value of Our Time
ADSactly on ADSACTLY - Part # 6 Cooperation and fair benefits
ADSactly on ADSACTLY - Part # 7 Support local production
ADSactly on ADSACTLY - Part # 8 Cooperation vs Competition
ADSactly on ADSACTLY - Part # 9 Sustainable Social Model
ADSactly on ADSACTLY - Part # 10 Blockchain Technology
ADSactly on ADSACTLY - Part # 11 Support for Decentralization
ADSactly on ADSACTLY - Part # 12 The Importance of Bitcoin
ADSactly on ADSACTLY - Part # 13 ADSactly in Discord (1)
ADSactly on ADSACTLY - Part # 14 ADSactly in Discord (2)
ADSactly on ADSACTLY - Part # 15 ADSactly in Discord (3)
ADSactly on ADSACTLY - Part # 16 ADSactly in Discord (4)
ADSactly on ADSACTLY - Part # 17 ADSactly in Discord (5)
ADSactly on ADSACTLY - Part # 18 ADSactly Clubs
ADSactly on ADSACTLY - Part # 19 ADSactly Tokens (1)
ADSactly on ADSACTLY - Part # 20 ADSactly Tokens (2)
ADSactly on ADSACTLY - Part # 21 ADSactly Tokens (3)
ADSactly on ADSACTLY - Part # 22 ADSactly Tokens (4)
ADSactly on ADSACTLY - Part # 23 ADSactly Tokens (5)
ADSactly on ADSACTLY - Part # 24 ADSactly Tokens (6)
ADSactly on ADSACTLY - Part # 25 Full Stack Startup
ADSactly on ADSACTLY - Part # 26 Artificial Intelligence Government Pt. I
ADSactly on ADSACTLY - Part # 27 Artificial Intelligence Government Pt. II
ADSactly on ADSACTLY - Part # 28 ADSactly Steemit Blog
ADSactly on ADSACTLY - Part # 29 The Future Of Crypto
ADSactly on ADSACTLY - Part # 30 ADSactly on Globalization
ADSactly on ADSACTLY - Part # 31 Blogging on Steemit
ADSactly on ADSACTLY - Part # 32 Social P2P network
ADSactly on ADSACTLY - Part # 33 Projects in ADSactly Society
ADSactly on ADSACTLY - Part # 34 ADSactly - Medium Blog
ADSactly on ADSACTLY - Part # 35 ADSactly - Environmental Protection
ADSactly on ADSACTLY - Part # 36 ADSactly - Sharing of Ideas
ADSactly on ADSACTLY - Part # 37 ADSactly - Centralized System vs. You
ADSactly on ADSACTLY - Part # 38 ADSactly - Taxation of Crypto - Part #1
ADSactly on ADSACTLY - Part # 39 ADSactly - Taxation of Crypto - Part #2
ADSactly on ADSACTLY - Part # 40 ADSactly - Cryptocurrency Trading General Advice
ADSactly on ADSACTLY - Part # 41 ADSactly - Steem Witness
Every honest individual with good intentions is invited to join and offer their skills, knowledge, energy, time or resources to various ongoing projects within ADSactly society. The channel is here: ADSactly and you are welcome!
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Witness proposal is here:
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Thank you!