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Reasons Why Civic Can Become the Most Promising Cryptocurrency in 2018

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Civic

Among the considerably large number of coins that are currently available for trading (approximately 1,800), various Altcoins are now getting considerable attention. One of the main reasons behind this dramatic turnaround is obviously the continuous downward trend in Bitcoin’s price and the overall volatility of the market. Among those ostensibly unpopular coins that are suddenly grabbing the traders’ attention, Civic coin (CVC) can certainly be considered one of the most promising cryptocurrency options.

With the downfall of Bitcoin and other cryptocurrency big guns dependent on BTC, competition among the slightly unfamiliar Altcoins has become fierce nowadays. For the coins that hold the position between 50 and 200 on Coinmarketcap, market capitalizations could change in a matter of hours along with their individual ranks. As a result, every coin has to offer some unique set of features to the traders for their attention. Civic coin comes with a vast range of such features and is making constant improvements since its inception in July 2017.

Here, a few aspects of this digital currency would be discussed to accentuate its beneficial traits along with its potential to become the most promising cryptocurrency of this year.

The Purpose of Civic Coin:

Nowadays, online identity verification has become an inextricable part of our life which is majorly dependent on various digital platforms. Every person has to go through various tediously long identity verification procedures like KYC (Know Your Customer) whenever s/he wants to open a bank account, or apply for a job, or even participate in an ICO start-up. Civic coin was developed to revolutionize this procedure by providing a personal identity verification protocol to their users that can leverage distributed ledger technology for better management of digital identities.

Unlike other such verification methods, this coin offers a more secure, inexpensive, and efficient process based on its own blockchain technology. In CVC’s system, a single input of an individual’s personal identification data would allow any organization to cross-check the information on the blockchain platform without asking that individual to provide the same data twice.

CVC Working Procedure at a Glance:

Civic’s blockchain platform consists of three separate but interdependent entities namely the users, the validators, and the service providers. With the help of CVC’s Secure Identity app, any person can register in this platform and become a legitimate user. The validator’s job mainly concerns the corroboration of certain identity’s authenticity on the distributed ledger and the service providers exchange the authenticated data for CVC coins. CVC’s blockchain platform is designed following Ethereum’s blockchain paradigm and smart contracts technology. As a result, the identification data are constantly attested and thoroughly monitored to provide an impregnable system to CVC holders.

Key Features of CVC Blockchain:

CVC blockchain platform comes with several advantages for their holders. Some of these beneficial features include:

  • Immutability: CVC’s distributed ledger platform is absolutely immutable and structurally unique. As a result, no other scamming start-ups or fraudulent groups cannot match its architecture and serve their purpose by deceiving CVC holders. Also, it is impossible for any third party organization to make changes on CVC’s blockchain platform without proper authorization.
  • Transparency: Every blockchain incident taking place on CVC’s platform is visible to all CVC users. As a result, there is absolutely no chance of any surreptitious activity to take place without anyone noticing. Transparency is a feature that many digital currencies lack nowadays. CVC is a rare exception among them.
  • Irreversible Transaction System: Because of the immutable nature of this blockchain platform, the transactions made using CVC coins are irreversible in nature. This accounts for a much faster transaction system to the traders without any unnecessary delay.
  • Privacy: Despite the fact that all users have to provide their personal identification information in order to register in this platform, every CVC holder gets their own pseudonym which hides their true identity from other traders and secures their privacy. CVC offers one of the most secure privacy system protocols to the investors trading with digital currencies.
  • Security: CVC’s platform is monitored and maintained by a vast network of different participants spread all around the world. Ergo, it is impossible for any individual to acquire the necessary amount of influence to override the existing system. Because of this constant monitoring and equal distribution, there is no doubt about this coin’s security system.
  • Low Cost: CVC eliminates the influence of middlemen in identification verification process and consequently offers a method that is not only quicker but also more inexpensive for the users.

Current State of Civic Coin:

Despite the unpredictable nature of the cryptocurrency market, this digital coin has been able to maintain a steady price along with market capitalization. As of this moment, 1 CVC is equivalent to approximately $0.43 and its market cap is now nearly 147 million USD. Civic’s price chart is following a steady upward trend and its current position on Coinmarketcap is 121 (Data as of 2nd May 2018).

Conclusion:

In a time where authentic verification of a person’s identity is a major issue, Civic coin offers the most propitious solution to its traders. With constant developmental updates and existing features, it has already made a significant impact on the market. With more traders opting for this coin, it can certainly be inferred that Civic can belong to the group of most promising cryptocurrencies by the end of this year.

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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 and read our full disclaimer.

Image courtesy of Thomas Hawk via Flickr

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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