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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

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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