Ranked at 167th place on the global coin ranking list, ION didn’t strike as a coin that could potentially grow large overnight. But, looking at the latest change in its price and being traded at its all-time high on all major exchange markets, we can’t miss mentioning how well Ion is doing, especially these days. For those who are not informed in detail about the idea behind Ion and Ionomy, here’s everything you need to know about this coin.
What is ION?
Influenced by Bitcoin and Blockchain technology, Ion was launched in May 2015 when it was presented as a proof-of-stake decentralized ecosystem. The main idea behind Ion and Ionomy is gaming industry, games and digital values and goods.
So, anyone interested in this coin might as well be interested in games and gaming apps. Inspired by Bitcoin, but still addressing its flaws, ION creators have chosen proof-of-stake as a great alternative to proof-of-work – the protocol Bitcoin is using. The main reason for choosing proof-of-stake is the fact that this protocol is consuming less energy, that way providing an economic ecosystem with enabled decentralization.
ION is also working on the hash algorithm, which is a key within a public key. Let’s say that our original data information is represented by a certain number. That number would be shown in a different form when gone through the hash algorithm, providing a value that is non-recognizable.
That is how ION is keeping transactions within their blockchain ecosystem, private and untraceable, which isn’t the case with Bitcoin where all information can be acquired as all info is being saved on the central blockchain. This protocol is functional because it takes a multiplier that is unknown, merged with the original value that gives a whole different value when translated through a hash algorithm.
But, what makes ION attractive to most users and holders who are not following up with technicalities like protocols and algorithms is the fact that ION is promoting the gaming industry, launching games, and apps and creating reward programs and competitions for gamers around the globe.
Earth to Moon
Around mid-December 2017, ION developers launched a beta version of a game called “The Moon or Burst.” The game is relatively addictive for anyone who likes mini-games available for Android and iOS. The game launched by Ion is also available for Android and iOS so anyone who is a part of the community can download the game as of 26th of January. The most exciting thing about this game is navigating from Earth to the Moon while avoiding threats like black holes and other aircraft.
Apparently, there was a tournament organized in the spirit of launching a public version of this game. Anyone could apply and play as of 26th of January. The winner of the competition was announced only three days after the beginning of the tournament and awarded 5000$ in the form of ION tokens.
This is, without any second thoughts, an amazing reward and an easy way to get “some” ION tokens. But, at the same time, the launching of the game can be interpreted as an amazingly clever strategy to get more investors to chip in and buy ION before the release of the game.
This presumption is proven to be true as after having announced the launching of the game on January 26th. The price of ION went up for amazing 51%, which led to a price of 5.94$ per one coin.
Where is ION at Right Now?
After the Earth to Moon tournament has come to an end, it seems that some disappointed competitors didn’t get their hands on the 5k prize and decided to sell their ION tokens. The price fell below the original 5.94$ per one coin.
Jokes on the side, whatever the reason for the decrease although this coin was trading at an all-time high across all major exchanges, Ion got back on the track with the newest increase only a day after the initial decrease.
In the last 24 hours, the volume of trading in Ion tokens increased, which resulted in a 7% rise in ION’s price. Currently, this coin is trading at 5.36$ with a market capitalization of 103 million dollars.
In case Ion would continue at the current pace when it comes to increases, this coin could quickly reach the price of 10$ within a few weeks.
Given the fact that Ion developers are focused on all aspects that make one digital currency a potentially safe investment, it seems that this coin will have a bright future. And, by creating a decentralized ecosystem with a focus on the gaming industry and rewarding strategies with safe and secure protocols, Ionomy is undoubtedly growing towards becoming a robust decentralized community.
So, the last call for buying Ion at its lowest based on the current performance of this coin is probably now or never.
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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
Reasons Why You Are Much Safer When Crypto Trading on Dexes
While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.
During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.
Here are some reasons why you might want to consider doing the same.
1. True ownership of your coins
The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges…
Crypto Billionaire Predicts Massive Price Growth by 2021
Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.
Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.
He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.
However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…
TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level
Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world. Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon. This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs. One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos. TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.
Problems with Centralized Casinos
The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model. And online casinos are no different. It still needs to be said that centralized casinos have proven that there is a great demand for online gambling. The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative. But industries are continually evolving and this one is no different.
A few of the problems facing centralized casinos include the following:
- Little to no transparency
- Consumer lack of confidence
- Privacy concerns
- 48-72 hour wait time for withdrawals
These are four monumental issues that need to be addressed quickly given the global growth of the market. Casinos need to…
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