Disclaimer: This is not a paid promotion. All information and data in this segment of ‘Coin Of The Day’ are based on my unbiased personal opinion and experience, it should not be considered professional financial advice. I will not be liable for any errors, omissions, or losses, injuries, or damages arising from this displayed content or use thereof. Take care when investing in these platforms and remember to do your due diligence. Consult a financial adviser before investing into any of these projects. Good luck.
Welcome to another post in the series, ‘Coin of The Day’ where no one (including me) have not a clue what is truly happening in the market. Everything is in red like the Disclaimer above.
Anyway, let’s start up that random cryptocurrency selector and we land on a cryptocurrency in the green. Warning: In the video below, there is a American country music that you cannot get out of your head if you start to listen to it. You were warned.
As seen in the video above, Crypto (literally) is the cryptocurrency randomly selected by the generator. So far, it sounds hopeful. Maybe it has everything great that all the cryptocurrencies could offer jam-packed into one.
Crypto (CTO), clearly to achieve large number of search on Google with that name, is a decentralized lite (like Litecoin) version of Bitcoin that can be anonymous with stealth addresses and is very ASIC resistant. It incorporates many ideas from different alt-coins in the market including fast transaction times (e.g. Dogecoin, Nano, EOS and the Lightning Network) and is able to keep its coin value stable.
The team, which comprised of two persons by the pseudonyms of Rudy and Candy, marketed Crypto as a community-ran coin but failed four months after launch.
Rudy, although there is no picture of him, has experience with C, C++, C# and Java. He created their website (which anyone could do for free).
Candy, on the other hand, contrary to what you are thinking, was not a woman but a guy who was just the beta tester. In layman terms, he knew what a computer was inside and out.
This altcoin was added to CoinMarketCap on May 18, 2015 (3 years old as of this week Friday). It was mineable. It used the Lyra2re algorithm (commonly use to mine Vertcoin, Zcoin and Zoin). Since Crypto was a mineable cryptocurrency, it used the Proof-Of-Work consensus to carry out its operations.
Now, lets get into the features:
Wallets for Window, Linux and Mac.
Anonymous stealth addresses along with regular addresses.
ASIC resistant (large mining rigs will not be the only ones to mine large amount of CTO but anyone with a powerful CPU or GPU.
Block reward is at 4.91 (as of this writing) and is expected to be reduced every 10 days by 0.00547 CTO).
Block time is 30 seconds.
Very low difficulty rate.
Total network hash-rate according to its block explorer, is at 328 MH/s which is quite low for a global network of mining nodes.
Pre-mined coins make up 0.025% of the total supply.
Great Community (Nope!)
Circulating supply is 13,742,738 coins with a total supply as indicated on their website of 65,789,100 coins; all of which is expected to be mined off over the next 25 years.
All Time High (ATH)- Before announcing the high, take a look at their chart below:
As you can see, this cryptocurrency is riddled with pump-and-dumps price movements. So far, Crypto prove to be the only cryptocurrency I came across as the most volatile (beating Ripple).
The highest price CTO has ever reached is 15 cents (0.00001794 BTC) on February 9, 2018. What caused this? Take a guess. As of this writing, 1794 satoshis is still worth 15 cents.
MY CRITIQUE
WEBSITE AND SOURCE CODE:
I am going to make this short.
Is it just me or does the logo looks awfully similar to:
Nothing could save it from its poorly designed feel. Not even that sunrise backdrop.
Wixsite? C’mon! At least get a domain and self-hosting service.
Over 30 percent of the words are spelt wrong on the website. The grammar is the work of someone who do not know the English language too well or an elementary school kid donning the Batman's cape of cryptocurrency.
There is no whitepaper. The team abandoned the project years ago. Roadmap, found on ‘The Future’ page is the most vague goals I have ever seen. Enough effort was not put into creating it.
As for the source code, it is very outdated. For the last three years, the developer(s) have done just two commits. The last one was back in 2015.
SOCIAL AND POPULARITY:
Twitter- 440 followers. Virtually no organic engagement. No new tweets or retweets since August, 2015.
Facebook- None.
Telegram- None.
Reddit - None.
Bitcointalk- 16 pages. Threads are soon to be deleted. Who would not want to delete them? The last comment was 3 years ago!
For YouTube: No official channel.
Other channels- Only three channels (including Sat Bits) do reviews on Crypto. One of them is a Portuguese channel by the name of Minerando na Rede (in a sexy Portuguese accent).
EXCHANGES:
Crypto is still being traded on the following exchange:
C-CEX
No announcement about being added on any other exchange.
CONCLUSION:
Crypto is a regular cryptocurrency with some, if not all the best features, one can ask for when it comes to blockchain, security and finance. It can be viewed as an O.G. coin but lacks the stability of the top ten cryptocurrencies.
A good investment?
No. One can obviously see the reasons. No team, no whitepaper, source code is outdated and the project, in terms of activity, is dead. Not even using the name of ‘Crypto’ itself can save this coin. My two cents.
Thanks for reading this post. Please remember to subscribe fr more content like this, possible future giveaways and much more. Hope you guys all have a marvelous mid-week and until next time, claim your gains, buy your lambos and be a passenger on the Moon Express.
Later.
Source:
➧ CoinMarketCap
➧ Crypto's Website
➧ Pictures Courtesy of Pexels.
➧ Transaction speeds
