Year-to-date, the blockchain-oriented startups have already raised over $1 billion through initial coin offerings (ICOs), which is an impressive achievement. For comparison, in the first two months of 2017, ICOs raised less than $50 million. There is a project that distinguishes itself in the multitude of options – Paymon, as the startup is called, aims to create a blockchain-based exchange platform where users could trade currencies and share messages in a secure manner.
Paymon’s platform will be powered by a blockchain infrastructure called Hive. The platform will represent a decentralized exchange where users would be able to trade different cryptocurrencies through atomic swaps, i.e. the exchange process will be carried out in a direct manner without any third party involved.
Today, the greatest crypto trading volume is traded via centralized exchanges like Coinbase, GDAX, Kraken or Binance. However, this kind of monopoly is a problem given that this contradicts the very nature of cryptocurrencies, which tend to be fully decentralized. Thus, the emergence of a genuinely decentralized blockchain-based exchange is more than welcomed, and Paymon wants to fill this gap with a game-changing product. Here are some aspects of the upcoming Paymon system:
- It will be a commission-free and super-fast platform for the exchange of cryptocurrencies between them and against fiat money. It is infinitely scalable and can be expanded on multiple levels.
- It will host secure wallets;
- It will represent a decentralized and secure messenger where users will be able to chat and use advanced messaging features.
- It will apply atomic swaps for the exchange process, so there will be no need to go through multiple conversions in order to buy Bitcoin with Ethereum for example.
- It will allow smart-contracts. Users will be able to set contracts with ready-made contents that would be automatically triggered.
- Paymon will allow users to create their own tokens and conduct ICOs based on its platform.
- It will have a special rating system that will allow users who are engaging in managing the network to get rewarded through the so-called Proof of Me (POM) system.
The mentioned points are only the essential characteristics of Paymon’s system, which will use the Directed Acyclic Graph (DAG) algorithm and will be encrypted with Diffie-Hellman and AES algorithms.
Another important aspect is that the system will use its own cryptocurrency called Paymon Coin, with the ticker PMNC.
To distribute its token among users worldwide, Paymon decided to conduct an ICO with pre-sale rounds.
The Hive-based Paymon platform will operate with Paymon Coins (PMNC), but now investors are available to buy ERC20-based Paymon Tokens (PMNT). Once the platform goes live, users will be able to easily convert PMNT for PMNC with the fixed rate will be 1:1.
The whole ICO event has three stages, with the first stages providing more generous bonuses for investors. Here is how the token sale event is organized:
- Stage 1 – 400 million tokens will be distributed, and 150 million tokens will be reserved for the Paymon team, Bounty participants, advisors, and media campaign.
- Stage 2 – 250 million tokens will be available for sale.
- Stage 3 – a set of 200 million tokens will be sold in the final stage.
As you can note, Paymon will distribute a total of 1 billion tokens seeking to raise about $50 million during all three stages.
At the time of writing, investors can participate in the first stage of the ICO and can enjoy an advantageous price until March 5. The token price, for now, is $0.015.
Paymon is open for investment funds as well. For example, blockchain venture fund Finshi Capital has already shown interest in the project and invested in PMNT tokens. Several other funds allegedly expressed their interest as well.
Is the Project Real?
The full project is yet to come, but Paymon has already a working product.
The Russia-based team has been working on the platform since 2016, and the mobile app for Android and iOS is ready for trial. The Web is currently in development.
At this point, the mobile beta version supports Ethereum and Bitcoin and has the messenger system with the basic features.
In conclusion, Global Coin Report can declare that Paymon is currently an underestimated project given that the team hasn’t focused on an excessive marketing campaign. This is a dark horse in the ICO space, and investors have to be ready to record generous gains.
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 pixael.com
The Impact of SEC Regulation and the Crypto Bear Market on Ethereum
Way back in June 2017, it was beginning to look inevitable that the flippening would occur and Ethereum would take over the top spot of cryptocurrency market caps. With smart contract capabilities and an order of magnitude more potential applications than Bitcoin, everybody was keen to jump on the Ethereum bandwagon.
Of course, a lot has changed since then.
The speculation-fueled bull run that culminated at all-time highs in late 2017 for Bitcoin and January 2018 for altcoins was unsustainable. Talk of a global paradigm shift appears laughably premature in hindsight.
Today, prices have collapsed across the entire market, with Ethereum itself breaking below $100 last December after all-time highs of $1.4k just 11 months prior. Although a mini-recovery has ensued in early 2019, the situation continues to look bleak and the reputation of cryptocurrencies for the general public is still far from stellar.
Prominent blockchain expert Peter Du, the founder of Du Capital, recently explained the crux of the problem, saying:
“Cryptocurrencies, which were once the new darling and dream of investors have now taken a backseat, given the current crypto blizzard. To be sure, maintaining hundreds of billions of dollars in valuations supported by unsecured coin issuance was…
Bexplus Trader Expert Sharing: Which Investment in Bitcoin can Make Profits?
At this time last year, Bitcoin was reaching its all-time high price. However, the whole year past, its price declined by 80% since then. BTC speculators or investors don’t seem to be getting tired of its “disruptive” price falling. And a lot of people that missed out on the late 2017 and early 2018 price hike, jump in the crypto world, expecting to make quite a fortune when it hits its former levels. But the story just goes the opposite way. So is it possible to profit from BTC investment? In the following part, we will explore 3 types of profitable BTC investment.
Measure 3 Common Types of BTC Investment
- Invest in BTC Spot and Wait for Appreciation
Bitcoin spot trade might be the first transaction type that most investors will opt for when they just entered the cryptocurrency area. Investors can directly buy BTC with fiat currencies. The only way to earn money with BTC spot is waiting for its price rising. Unless you are a BTC believer and willing to wait for its appreciation in several years, you should turn to another type of investment.
- Exchange BTC to USDT and Earn the Spread
USDT is the cryptocurrency version of US dollar and also considered as a stable cryptocurrency. Generally speaking, when the BTC, as well as other cryptocurrencies, drop, USDT may perform…
Crypto Venture UpStake is Redefining the Industry with a Proof-of-Burn Stable Coin
, an exciting cryptocurrency project officially launched last year, is all set to take the global crypto community by storm. Unlike hundreds of crypto ventures that fail to make any impression, UpStake is dedicated to delivering a stable digital currency that will pave the way for mass adoption around the world.
London, UK – Jan 16, 2019
London-based crypto startup UpStake is well on its way to revolutionising the global cryptocurrency industry by eliminating many of the limitations that have stifled growth for years. Launched in 2018, this promising initiative is focused on ensuring mass adoption of cryptocurrency by providing a usable, stable form of digital currency to the crypto and blockchain communities across the globe.
This proposed blockchain ecosystem is built around UpStake tokens (UPS), the platform’s proprietary token. UpStake asserts that these tokens have been designed to increase in value over time, and set the stage to build great products and services which result in better user experiences.
In order to ensure continuous increase in value of UPS over time, UpStake has built a Proof-of-Burn model that burns a certain percentage of tokens sold through their exchange. This model helps create the value that contributes to the ever-growing price point of the token. It not only enables the token price to…
Is there a Real Value to Binance Coin (BNB)?
Top 3 Reasons To HODL Binance Coin (BNB)
Predict The Bitcoin Trend and Win Every 5 mins!
Altcoins2 weeks ago
Verge (XVG) Unexpectedly Surges by 11% After Code Malfunction
Hot Updates2 weeks ago
Aaron System in Thailand enters into Mongolian Cryptocurrency Exchange market with UBWAVE in Mongolia
Bitcoin2 weeks ago
Stanford Lecturer praises XRP over Bitcoin
Bitcoin1 week ago
Why Bitcoin Price Remains Stable Before the Expected Hike
Blogs2 weeks ago
Three Biggest Things To Know Come Cryptocurrency Tax Season
Altcoins4 days ago
Why XRP is Worth Much Less than What Fans Expect
Blogs1 week ago
Could Jeff Bezos Turn to Bitcoin to Hide Fortune from Wife?
Hot Updates2 weeks ago
A Record-Breaking win at BitStarz – Player wins $1.35 Million!