Most people thought that they had seen it all as far as cryptocurrency is concerned but then an altcoin called Einsteinium has proved them wrong. This is an actual existing digital currency that is relatively new but has not been known to many mainly due to the fact that has for a long time been among the lower-ranking cryptocurrencies.
The low-key nature of Einsteinium whose abbreviation is unsurprisingly EMC2 seems to have come to an end following a massive surge in its price which went from $0.82 to $2 within a few days. The surge allowed the digital currency to secure its place among the top 50 digital currencies based on market cap.
Einsteinium was developed to fund philanthropic, technological, and scientific projects. The currency circulates through a proof of work algorithm that is similar to the one used in Bitcoin. It thus has a charitable aspect about it since it is used to fund the science-oriented projects mentioned above.
Einsteinium was launched in 2014 but its price has not had much success until this year. The Einsteinium Foundation made its official debut on 1st March and also officially signed up as a non-profit organization that is based in Montreal, Canada. These milestones also allowed Einsteinium to become the first NPO within the cryptocurrency space that is focused on research.
The digital currency has a unique system that helps in the selection of the projects that it intends to fund, as well as the amount of funding to be awarded. The process is based on something called an Epoch. The latter refers to the time taken by miners to 36,000 blocks on the altcoin’s blockchain or public ledger and it is actually 25 days. Once the duration is completed, the proceeds from the block rewards of the Einsteinium Foundation are then used to fund research, technological, and scientific projects. The foundation decides on where the funds should be allocated by asking the Einsteinium Committee to vote on the options.
Meanwhile, the price of the Einsteinium digital currency managed to hit an all-time high of $2.30 on Sunday before retreating slightly to its current price of $1.81. The altcoin has a market cap of $392,326,084.
There are 730 Epochs through which miners can be granted block rewards. However, the rewards are expected to decrease as the network shift to a new epoch at time passes. The number of coins offered by each reward is also expected to decrease.
Einsteinium which is currently at the 49th position is still a long way from the likes of Bitcoin and Ethereum. However, it has achieved an impressive feat by making it into the top 50 list.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.
Image courtesy of Sofi via Flickr
XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
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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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%.
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XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
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…