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AMP (AMP): Synereo, Ethereum, and Migration Plans

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AMP is leaving holders and investors around the globe severely disappointed as no one seemed to expect such a cruel drop in price. Although 2018 was announced as a year of cryptocurrencies, AMP appears to have no luck at all.

AMP, the official token of Synereo platform is slowly decaying in price, but Synereo creators seem to have a backup plan that should help this token recover and get back on the track. Here is everything you need to know about AMP, Synereo and the announced novelties regarding this coin.

A little about Synereo

Synereo is a decentralized platform based on blockchain technology with a focus on monetizing content. Synereo made that possible by using AMP as its official token to reward and monetize any original content published anywhere online.

Needless to say that this case encouraged many content creators to start investing in AMP, also joining Synereo platform, the home of AMP. Based on blockchain and Economy Attention, the most significant success Synereo made is probably WildSpark.

WildSpark is the first tool ever to be created by Synereo. WildSpark works in the form of a meta-layer protocol located on blockchains and existing on top of content hubs and social media platforms. Its purpose is to monetize the original content in the form of rewarding both content creators and content curators. Rewards are given out in the form of AMP tokens, encouraging content creators to create more valuable and original content, while also helping people to share the generated content.

Synereo, hubs and social media platforms aren’t in any way presented as third parties in this program as all creators and curators are being rewarded without any of the mentioned parties taking a cut.  So, basically, with this app, you can publish anything and anywhere on the internet and get paid for it in the form of receiving AMP tokens.

What is going on and why is AMP price decreasing?

The current price at which this token is being traded is 0.48$ per one coin. This is the final price from the last 24 hours in the time of writing, stated after the initial decrease of -10.44%.

How is it possible that AMP is falling so low with its price when just less than a month ago this currency announced a partnership with Changlly?

This partnership enabled WildSpark community to get paid by “attention holders” with any currency they have, that way leading this strategy of monetizing content to a whole new level. But, it seems that this partnership wasn’t enough to keep AMP from dropping in price. Beginning from mid-January, AMP started to fall radically, which led to the current trading price of 0.48$ this coin is being traded now.

The reason for the fall is the confirmed case of having slow transactions within the blockchain of Synereo.

That is why this startup coin decided to join a larger more stable network that would enable fats transactions – Ethereum.

AMP and Ethereum

The AMP and Synereo creators announced the merging of AMP with Ethereum. The initial joining should occur around June 2018, but the exact date is yet to be confirmed. WildSpark and the strategy of monetizing content are also being transferred to Ethereum, where AMP will appear as one of the supported tokens within the Ethereum network.

That way, by joining Ethereum and its ecosystem, AMP users, holders and investors should no longer have problems with slow and pricey transactions. The reason for having Synereo bugging in performance is the fact that WildSpark is getting more and more in popularity, consequently growing in members as well.

To avoid “system overload,” Synereo, along with AMP and its holders, users, and investors will transfer its protocols to Ethereum. Within the Ethereum ecosystem, AMP would be used for transactions and exchanges while the users would be allowed to take advantage of smart contracts and all features that come with Ethereum.

After the announced merge, AMP should be able to get back on the track with a better performance which should result in having its price increasing instead of rapidly decreasing as it is the case right now.

We will be updating our subscribers as soon as we know more. For the latest on AMP, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency.

Image courtesy of coinmarketcap.com

Blogs

Is Tether (USDT) really a stable coin?

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Tether is one of the top digital assets in the crypto-sphere. The coin was launched in November 2014 after it changed its name from Realcoin so that the crypto community doesn’t associate it to the altcoins. It is important to know that Tether is a currency that helps to convert fiat currencies into digital currencies.

Moving forward, there have been lots of FUDs around Tether these days as regards to whether it is going to be a truly stable coin as the market has seen dips lately. Also, the FUDs around Tether have raised questions on whether there are any backings to the digital asset.

It is crucial to know that other factors have been attributed, and one of them was a report from last month that stated that Tether and Bitfinex, had gone their separate ways with Noble Bank. The separation made Bitfinex suspend fiat wire deposits – without no reason or whatsoever.

Tether, in regards to market worth, comprises about 92 percent of the market capitalization of stable coins. Also, this stable coin offers two purposes: to stabilize the volatility of Bitcoin, and also to preserve the amount of money purchasing power investors have at hand when the value of larger cryptocurrencies such as BTC drops.

The coin is a good alternative for traders when trying to cash-in on fiat currencies, as we do know that trying to move money from different exchanges to fiat…

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Blogs

TRON Partnership Involves Cloud Computing

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TRON partnership
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It has been almost an entire week since Justin Sun, the founder of TRON (TRX), announced a new big partnership for this cryptocurrency. His Twitter announcement did not provide a lot of information, except for the fact that the TRON partnership is with an industry giant worth tens of billions of dollars.

Even so, the entire crypto community started speculating about the new partner’s identity. Soon after the announcement, a new rumor emerged, claiming that the identity of an unnamed corporation was uncovered. According to the rumor, TRON’s new partner is none other than Baidu, one of the largest tech giants of China, which also represents this country’s largest internet search provider.

Baidu is often viewed as China’s version of Google, and if the rumors of a partnership with this company turn out to be true, this will be a big game-changer for TRON.

However, in days following the announcement, new reports started coming in with claims that the partnership will not revolve around blockchain technology. Instead, ODaily reported that the alleged partnership between TRON and Baidu will be focused on cloud computing. The report claims that TRON will be purchasing computing resources from Baidu.

Baidu to…

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Bitcoin

Will Ripple (XRP) advocacy hike affect bitcoin dominance of China?

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Currently, China is leading in Bitcoin mining industry by far, second to none for bitcoin mining power. Literally, it’s contributing over 70% of the network’s hash rate (a term that is used in describing the total processing power of a blockchain network). But how Ripple fits in here and what it has to do with that? We’ll talk about that a bit later below, let’s cover some in-depth facts about China’s dominance over Bitcoin first.

It’s a near-complete dominance by China on the BTC mining grid that has made it responsible for mining a majority of circulating bitcoins. A Beijing-based company, Bitmain Technologies, is highly responsible for extracting the significant part – more than half of the globe’s bitcoin, and alone, it has approached 50% of the total hash rate more than once.

The fact that China is controlling a majority of Bitcoin hash rate, clearly tells that it has the power of manipulating or merely destroy the bitcoin network if it gets enough support should it decide to take such a move. Therefore, this has led to serious concerns among countries including the US that China might get an edge in this cryptocurrency industry and possibly becoming a potential threat.

China is the biggest manufacturer of Bitcoin as well as cryptocurrency mining equipment. The reason behind the massive growth of mining farms in the country is because of cheap electricity bills.

Furthermore, the country has adopted several…

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