Ainslie Crypto's 5 New Alt Coin Offer
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Posted 28/06/2019
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Yesterday we announced that on Monday Ainslie Crypto will start trading 5 new alt coins. These will be EOS (EOS), Stellar (XLM), Cardano (ADA), TRON (TRX), and IOTA (mIOTA). As with our other ‘big 5’ and of course our own Gold Standard (AUS) and Silver Standard (AGS) metal backed tokens, you will be able to do high value trades, pay or get paid in cash or bank transfer, lock price and then pay, get a completely cold (hack proof) Ainslie Crypto Wallet (except for ADA) and deal with a human.
We have chosen these as 5 of the next largest by market cap without being privacy coins, USD tether, etc and with what we think have solid business cases.
So what are these new crypto’s and what do they ‘do’? Here is a quick run down.
EOS
Calling itself the most powerful infrastructure for decentralized applications, EOS is a blockchain-based, decentralized system that enables the development, hosting, and execution of commercial-scale decentralized applications (dApps) on its platform.
No official full form exists for EOS, and the creators have decided not to formally define it themselves. EOS supports all of the required core functionality to allow businesses and individuals to create blockchain-based applications in a way similar to the web-based applications, like providing secure access and authentication, permissioning, data hosting, usage management, and communication between the dApps and the Internet.
It is also supported by a web-toolkit for interface development, making it a complete offering for hassle-free app development. It essentially works in a way similar to Google’s Play Store and Apple’s App Store.
The EOS token is the cryptocurrency of the EOS network.
A developer simply needs to hold EOS coins, instead of spending them, to be eligible to use network resources and to build and run dApps. A token holder who is not running any apps can also allocate or rent his bandwidth to other participants who may need it.
While there are already a number of blockchain-based networks like Ethereum, which facilitates decentralized applications, EOS focuses on critical pain-points of blockchain and attempts to solve the problem of speed, scalability, and flexibility that often become a bottleneck for such blockchain-based systems.
Stellar
The Stellar network is a blockchain-based distributed ledger network that connects banks, payments systems and people to facilitate low-cost, cross-asset transfers of value, including payments. Stellar has its native cryptocurrency called lumens, which is denoted by the symbol XLM. All three terms - Stellar, lumens and XLM - are used interchangeably, though stellar is the blockchain network, lumen is the cryptocurrency and XLM is its trading symbol.
Stellar’s primary focus is on the developing economies in the areas of remittances and bank loans to those who are still outside of the scope of the banking services.
Stellar supports a distributed exchange model, which allows a user to send payment in a particular currency (like EUR) though they may be holding USD credit. The network automatically performs the forex conversion at the best available rates. The receiver can withdraw the EUR equivalent through the partner institute like a bank. (It is very similar to Ripple (XRP))
During 2018, Stellar signed a deal with TransferTo for cross-border payments to more than 70 nations. It also became the first distributed technology ledger to obtain a Shariah-compliance certificate for payments and asset tokenization, and was selected as a partner by International Business Machines Corp. (IBM) for a double-pegged stablecoin project.
Cardano
Cardano is the world's first peer-reviewed blockchain. The non-profit foundation responsible for Cardano assembled a network of academics and scientists from various universities
It is a third-generation cryptocurrency and smart contract platform that claims to improve upon the scaling problems of bitcoin, a first-generation coin, and Ethereum, which belongs to the second- generation.
The heart of Cardano’s platform is an algorithm that uses Proof of Stake protocol to mine coins. The protocol is customized to reduce energy use and time for making new coins.
Cardano is arguably just another Bitcoin but claiming to be faster and smarter – similar to Litecoin.
Tron
Tron is a blockchain-based decentralized platform that aims to build a free, global digital content entertainment system with distributed storage technology, and allows easy and cost-effective sharing of digital content.
By using the features of the blockchain and peer-to-peer (P2P) network technology, Tron attempts to bridge the gap between content creators and content consumers by eliminating the middleman. The end result is overall cost reduction for the consumer and improved collection through direct receipts for the content producer, which offers a win-win situation.
To draw an analogy with a real-world application, consider Netflix, which operates a digital entertainment service offering on-demand content. The services are controlled by a single organization in a centralized manner. One may need to subscribe and pay Netflix to watch a particular on-demand, adding to the cost of accessing entertainment.
Tron replicates this business model on a public blockchain network and acts as a distributed, decentralized storage facility that makes it more efficient and cost-effective. It aims to eliminate the middleman, like Netflix in the above example, by allowing anyone and everyone to host digital entertainment content on its blockchain-based network. The global audience can directly pay the content creators to access the content.
IOTA
IOTA was developed to enable the “paradigm shift” to the Internet of Things by establishing a standardized “Ledger of Everything.” Simply put, this means the cryptocurrency will enable data exchange between sensor-equipped machines that populate the Internet of Things.
IOTA’s cryptocurrency – mIOTA – will enable micropayment transactions between connected devices.
IOTA uses a Tangle instead of a blockchain to store its ledger, with the main motivation being scalability. A blockchain has an inherent transaction rate limit, because all participants agree on the longest chain, and discard forks and side branches. The Tangle, on the other hand, allows different branches of the DAG to eventually merge, resulting in a much faster overall throughput.
IOTA use is expected to simplify transactions and processes involving objects that have sensors. A simple use case is that of an IOTA-enabled vending machine, which can dispense soda without the associated transaction costs and latency of bitcoin.
There are no end of information sources for each online so maybe use the weekend to school up before these go live on Monday.