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🕵️‍ ICO Watch
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Past-ICO Review: We Be Jammin’ But We Don’t Know the Value Of Our Token

  • Eric Eissler
    🕵️‍ ICO Watch

    A platform that offers you rewards for listening to your music on a consolidated platform, but is not listed on CoinMarketCap nor exchanges is very detrimental

Past-ICO Review: We Be Jammin’ But We Don’t Know the Value Of Our Token
Cover image via u.today

A music-playing app that helps you earn crypto rewards as you listen to music. Why didn’t I hear of this earlier, is what you are all probably asking yourselves. The app rewards users for their time streaming music, listening to ad impressions and, of course, sharing the personal data that is collected in the app. The protocol records transactions on the Blockchain that reflect a user’s contribution to the network through consumption, curation or creation of content. Additionally, a smart contract distributes rewards in response to these contributions. Launching initially on the Current platform, the protocol will be open for developers and third-party providers to help expand the ecosystem.

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Financials

Current has raised some $36 mln by Feb. 7, 2018 in their ICO. CoinMarketCap, in a very rare occurrence, does not have CRNT listed. Therefore, it is very hard to provide any feedback or analysis on the token price. At this juncture, it is not even sure on which exchanges the token is available for purchase on.

Who is behind this creation?

Well, it is not apparent on the website who is doing what. Only with some further in-depth research U.Today was able to uncover who is on the team behind Current.

Dan Novaes- Co-Founder, CEO

Novaes is the Co-Founder and CEO of Current Media. An incentive-based media streaming ecosystem. He started his first company at the age of 15 with $1,000 and bootstrapped it up to over $2 mln/year by his freshman year in college.

Nick McEvily- Co-Founder, CPO

McEvily plays a crucial role in start-ups, to assist in creating brands and go-to-market strategies. Whether it is design, development or business strategy, McEvily has managed and directed digital products at all stages of their lifecycle- from concept to market.

Kiran Panesar- Co-Founder, CTO

Panesar is a software developer and engineering leader based in Chicago. He has a passion for startups and building large-scale technical products.

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What’s the app? What’s the reward?

Current provides a more efficient discovery and search experience to over 160,000 users by consolidating popular media networks into a single place. Users will be compensated for streaming content from the systems that they love such as SoundCloud, Spotify, YouTube, etc. through the release of CRNC. Every individuals’ behavioral data points surrounding the topics, types, and times played across different networks will be combined to serve up better recommendations compared to any single system.

Final thoughts

Current seems like a great platform, but it is a bit strange that they are not listed on CoinMarketCap. While looking around the website, it is missing a lot of information, such as, who is on the team, what is the roadmap, etc. The app appears to work, based on other reviews. But it was disconcerting that they did not respond to emails asking for more information and interviews.

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Past-ICO Review: 0-Cost Enterprise Blockchain Solution

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About the author

Eric Eissler is based in Chicago and works in higher-education administration and finance. He is a freelance writer covering blockchain technology, fintech, cryptocurrency, the oil and gas industry, and international politics.

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0
📰 News
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Top Bitcoin Miner Warns – Bitcoin’s Privacy Features Are ‘Quite Poor’

  • Yuri Molchan
    📰 News

    The head of a major Bitcoin mining pool says that Bitcoin privacy is weak and must be improved to prevent BTC from avoiding governments’ clampdown

Top Bitcoin Miner Warns – Bitcoin’s Privacy Features Are ‘Quite Poor’
Cover image via www.123rf.com

The CEO of one of the largest BTC mining pools, Poolin, has recently stated in an interview that Bitcoin privacy has to be improved. The current privacy features make BTC vulnerable to potential regulatory bolt tightening, says he, as reported by Forbes.

The Poolin mining company was set up by several former employees of BTC.com – a world’s major mining pool, a subsidiary of Bitmain. Among them was the Poolin’s current CEO Kevin Pan.

“Bitcoin’s privacy features are quite poor”

Over the past years, developers have suggested several ways to improve Bitcoin’s privacy. However, those were rejected by the community, since they would hard such major things as security, scalability, etc.

A good example here is Confidential Transactions that were among those suggestions. They disguise the amount of BTC sent in transactions. However, the integration of it was rejected, since it could have had a negative impact on the public verifiability of the present BTC supply.

Kevin Pan says that privacy is much more vital for a crypto asset development than scalability. Pan says:

“There is no other big question if the privacy issue is solved.”

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Governments may start controlling BTC miners

The company CEO believes that in theory, authorities or law-enforcement agencies may start telling miners to block certain address from receiving funds or sending them. However, in that case that would have to be 51 percent of the BTC network.

Pan believes that unless a solution to this problem is found soon, governments will get a chance to prevent transactions to certain addresses from happenning.

“What is more troublesome now is if government or law enforcement departments begin to create a blacklist of transaction addresses, it will make certain transactions unable to be packaged.”

“In fact, these can be done. But if there is privacy, you can't know who the address belongs to, and you can't determine how much the amount is, and there is no way to control the currency system. So for me, Bitcoin is basically no problem if the issue of privacy can be solved.”

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Bitcoin Block Number 600,000 Was Mined — What Does It Mean for the Crypto Industry?

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China plans to clamp down on BTC miners

Previously, U.Today reported that Inner Mongolia, an autonomous region of China, plans to ban all the numerous mining pools located there soon.

Since this region is one of the biggest local crypto mining areas, some believe that China is about to ban mining of all cryptocurrencies ahead of the so-called ‘China Coin’ launch.

Do you think that poor Bitcoin’s privacy features could indeed bring down regulatory control over BTC one day? Feel free to share your view in the comments section!

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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