Connect with us

Opinion

Behind the Coin: Obsidian (ODN)

Published

on

Today, I wanted to cover a platform that has been flying under the radar. With a market cap of $11,809,673 and ranking 264th on CoinMarketCap, the Obsidian altcoin I’m about to talk about has some serious potential. I talked with the CEO recently to better understand what Obsidian is all about. According to the Peter McClory (CEO):

“Obsidian is a decentralized privacy platform with a flagship secure anonymous messaging service. The Obsidian Messenger works on Windows 10 and we have now almost completed porting this to Android, with iOS to follow soon. We are combining a secure, anonymous instant messenger service with a decentralized network so that each user is in control of his or her own data. Bypassing traditional centralized data centers allows for greater privacy and security, moving away from existing VC-led networks which are not transparent, exploit user data for profit, and assist in unwarranted censorship of civilians in many countries around the world.”

Obsidian is building out its anonymous messaging service to showcase what can be done on their privacy platform. The messenger app is being marketed well beyond the crypto world. The Obsidian Messenger works on Windows 10 and is currently being ported to Android with iOS to follow soon after.

In regards to new exchanges, Peter stated: “We are in touch with a number of exchanges. Our major focus is on building our messenger application, recruiting high-quality in-house team members, and evolving our business processes and systems. Once the Android app is launched, there will be a larger team in place, alongside partnership opportunities to help us shift focus to completing more exchange listings.” It sounds like Obsidian wants a working Android and iOS app before approaching larger exchanges but that should be happening soon as the mobile apps are launched.

Obsidian is a Proof-of-Stake coin, meaning investors who own a certain amount of ODN will receive a reward for holding it. In the future, masternodes will be available, and are estimated to cost 10,000 ODN. Currently, masternodes are not implemented, which means that all stakers can enjoy approximately 10% additional ODN to be rewarded.

As for what’s next, Peter stated they are looking at apps related to data privacy, information distribution, decentralized storage and payment processing. They plan to open up the network for third parties to develop add-ons to existing apps such as in-message games, stickers, emojis etc. They are also looking to partner and support interesting startups with little or no blockchain experience and help to support them and onboard them to Obsidian platform in a variety of ways.

After Obsidian launches its Android and iOS messenger apps, I could see this helping them get listed on some of the larger exchanges. I believe they have a solid product but lack the liquidity needed for more investors to invest at this point. That will change soon as their product matures. I will provide more updates over the next few months to update the Hacked.com community.

Disclaimer: Analyst does not have investments in Obsidian (ODN)

Featured image courtesy of Shutterstock. 

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

Rate this post:

Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way.
0 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 5 (0 votes, average: 0.00 out of 5)
You need to be a registered member to rate this.
Loading...

4.6 stars on average, based on 51 rated postsKent Hamilton - Co-Founder of CryptoDayTrader.io, where we are building Pro Crypto Tools




Feedback or Requests?

Altcoins

Why Investors Should Pay Attention to RHOC

Published

on

In every industry, there is one company that tries to become so technologically superior that it can overcome all the other challenges posed by their competition. Whether the other competitors have first mover’s advantage or are just plain better marketers, one company can disrupt this by being so much more advanced where it matters.

Bitcoin is constantly criticized for its scaling ability. The speed and safety of the network has proven to be lacking, but the story and community behind it have allowed it to become massive. RChain was formulated with the core belief that by creating a solution that solved all the problems Bitcoin couldn’t, it could gain dominance.

RHOC’s Main Value Proposition

To sum up the entire goal of RChain (or RHOC), they aim to be the fastest and most efficient solution on the market. From there, it should be simple to take advantage of the core communities that have been built around media favourites like Ethereum and Bitcoin.

RChain gets its name from the mathematical innovations that are used to fuel it: Reflective High-Order Calculus. This calculus was invented by the founder, Greg Meredith, and it allows for concurrent calculations to be done in a way that will enable the continued scaling of the network.

There are 3 benefits that are constantly highlighted about RChain. Speed is first and foremost, since it is a key selling point for everyone. With the ability to process 40,000 transactions per second (and high hopes of scaling to 100,000 transactions per second), this puts it way ahead of the current capabilities of Bitcoin.

Then you have the tools provided for developers, which should greatly improve their ability to create apps and products that work well with the platform. But most of all, RChain has put a lot of work into creating their own RChain Collective. The collective is a public group composed of developers, investors, and users of RChain. By creating this inclusive collective, the RChain team has guaranteed that every member has some say in the future of the platform.

RHOC’s Recent Performance

2018 has seen a slow but consistent rollout of the features promised by the RChain Cooperative, and now many of the promises are starting to come to fruition. As more features are offered and the mainnet demonstrates its ability to handle a higher number of transactions, RChain will become much more appealing for investors and developers.

In situations like this, the first thing people usually say is that it is a pump n’ dump scheme, but there is one key reason why this doesn’t fit RChain. They are continually updating their development timeline, and have released consistent offerings along the way. Their testnet is planned to be released in September 2018, with the mainnet following sometime in Q1 2019.

Although RHOC is down 31.4% in the last month, it is well-positioned for a comeback. Its total market capitalization is $121 MM, which places it in the top 20 of ERC-20 tokens. Making a bet on RChain is really about making a bet on the team they have in place, and their ability to deliver on the massive promises they have made. Because if they do, then it could mean massive disruption in a sector that has mostly been focused on Bitcoin and Ethereum from the beginning.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

Rate this post:

Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way.
0 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 5 (0 votes, average: 0.00 out of 5)
You need to be a registered member to rate this.
Loading...

4.1 stars on average, based on 36 rated posts




Feedback or Requests?

Continue Reading

Altcoins

Why Investors Should Pay Attention to Metal Coin

Published

on

The current blockchain and ICO investing climate is very much in favour of grand solutions that are going to “revolutionize business” and other extremes along that line. But these companies are missing a very real problem in the crypto world: many potential users are still afraid of investing in them.

Right now there is a lot of opportunity in consumer facing applications. If any protocol can figure out how to harness the interest of consumers while making it much more accessible than Bitcoin, they have a major opportunity. This is a lot of why Coinbase has been so successful – they are considered to be the simplest to deal with.

Introducing Metal Coin

With a special focus on day-to-day usability, Metal Coin (MTL) is an ERC20 token that rewards users with free tokens when they spend cash, send crypto, receive crypto, or convert fiat to crypto (applies vice versa as well). Using the app to do any of these actions can earn up to 5% back in MTL tokens.

This may sound like a ludicrous and infeasible reward, but it is very similar to how credit card companies currently work. And blockchain companies are generally run in a more streamlined manner with lower overhead, which could explain the higher than expected payout.

Basic Use of Metal

Signing up for Metal is designed in a streamlined manner so it is easy to get your money into the system and then you start getting paid in MTL right away as you use it. The process for payouts is referred to as Proof of Processed Payment (PoPP) which distributes coins when payments or transfers have been verified.

As with any other cryptocurrency investment, users must verify their identity and be fully compliant with KYC rules relevant to Metal. Your MTL can be stored in any wallet that supports ERC20 tokens, and there is a special web wallet called Metal Vault available as well.

Current Performance of Metal

Metal suffered a lot in the 2018 crash, and has continued to go down since then. From a peak of ~$11.00, it has now dropped to around $0.67. This can be seen as a bad thing, or it could be an opportunity to capitalize on. Metal is likely to move in sync with the entire crypto market, since it is an entrance funnel for funds. If you believe crypto is going to make a comeback (which I assume you do if you’re reading this), then MTL would be a high-correlation bet on the entire industry.

The team has been working on expanding Metal since 2016 and is continuing to distribute MTL tokens through PoPP as more users perform transactions. Ideally, these tokens become higher in value as the demand in the Metal app grows.

In a lot of ways, MTL has the potential to become a gateway to the cryptocurrency ecosystem for many users. Metal is a cryptocurrency designed to capitalize on the current inaccessibility of cryptocurrency by marrying it with the rampant mobile payment trend. Consumers are generally drawn into the idea of “free tokens”, and it ends up working as a “gateway drug” of sorts to other cryptocurrencies.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

Rate this post:

Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way.
0 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 5 (0 votes, average: 0.00 out of 5)
You need to be a registered member to rate this.
Loading...

4.1 stars on average, based on 36 rated posts




Feedback or Requests?

Continue Reading

Bitcoin

What Economists Don’t Understand About Bitcoin

Published

on

Of all the things to irritate a Bitcoin enthusiast, perhaps the worst is when economists come out with their negative opinions regarding Bitcoin. Paul Krugman, the prince of establishment economists, recently publish “Transaction Costs and Tethering”. The article explained why he believed Bitcoin would collapse, and was designed to create controversy.

The first thing we all need to realize is that Bitcoin is at its core an anti-establishment construct, whereas economists are all “buyers” of the current system and believe it is working well. These economists look at HODL’ers belief that Bitcoin is a hedge against the fiat system as a fringe bet, whereas Bitcoiners generally believe there are major problems endemic in the system.

Bitcoin as an Inefficient Protocol

The common point naysayer will make (and Krugman did rest heavily on this point) is that Bitcoin is extremely inefficient. The amount of electricity it uses and fees charges for transactions is higher than any option in our current system, and it is a step backwards.

What these criticisms fail to factor in is the fact this is all on purpose. Efficiency isn’t always a good thing. The army maxim “two is one, and one is none” could be considered inefficient, but sometimes survival is more important than efficiency.

Efficiency is what has brought about much of global warming and pollution. It was “more efficient” to do things a certain way, but that also led to short-term compromises of the future. And as more investors come out to say we can expect major problems in our future due to the way the economy has been run, it is possible that the way the pensions, fiscal deficit and financial markets have been managed might not have been the safest way.

Safety in Volatility

Bitcoiners tend to believe that Bitcoin is a safer method than the current system, even though there is a high degree of volatility. All the risk is visible, like waves on a lake, whereas the dangerous part lies beneath the water.

The argument that the current fiat system has held up well is true, but that says nothing about where the market is going to go in the future. As we know regarding investment funds, past performance doesn’t indicate future returns. This applies to the entire financial system and is exactly why Bitcoin is taking such a strong hold on the zeitgeist at this period in time.

Economists seem generally unable (or unwilling) to grasp the idea of an impending crash that changes the entire economy. But then again, were they ever able to accurately predict crashes and crises in the past?

What This Means For the Future

The fact that this group of financial experts can’t understand the “doom and gloom” predictions of those who are pro-Bitcoin says a lot about how they think about risk in the markets. The future is always uncertain, and an improvement in efficiency today says nothing about improvements that may occur tomorrow. It may be preferable to have a robust solution that can withstand a massive crisis than to put all of our trust in banks.

If anything, the real estate crash of 2007 and continuing sovereign debt crisis should be enough of a problem that we can all admit the system isn’t perfect. Yes, the US dollar has served the economy well until now, but the future is always uncertain. Efficiency has gotten us this far without major calamity, but it might be time to focus on safety in the markets as well. And as anyone who has struggled to put a life jacket on knows, safety is inefficient.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

Rate this post:

Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way.
0 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 5 (0 votes, average: 0.00 out of 5)
You need to be a registered member to rate this.
Loading...

4.1 stars on average, based on 36 rated posts




Feedback or Requests?

Continue Reading

Recent Comments

Recent Posts

A part of CCN

Hacked.com is Neutral and Unbiased

Hacked.com and its team members have pledged to reject any form of advertisement or sponsorships from 3rd parties. We will always be neutral and we strive towards a fully unbiased view on all topics. Whenever an author has a conflicting interest, that should be clearly stated in the post itself with a disclaimer. If you suspect that one of our team members are biased, please notify me immediately at jonas.borchgrevink(at)hacked.com.

Trending