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).
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
Reasons Why 2019 May Be A Great Year For Crypto
The new year was always considered to be a time of new beginnings, where people can reflect on the past and learn from their mistakes in order to be better in the future. The same is true for the world of crypto, and investors around the world are hoping for 2019 to be better, more profitable, and to have more success than 2018.
The hope for the future is even more important when we consider all the negative development in 2018. There were numerous high-profile hacking attacks, two market crashes, with a strong bear market in between. Not to mention that some of the biggest projects that may have brightened the year a bit ended up being delayed.
With that in mind, it is understandable why investors are looking forward to the new year and all the potential development that it may bring. In fact, there are several reasons why they should be excited about 2019.
1) Bearish market to loosen its grip
The first reason why 2019 can be a good year digital currencies is that it may finally break free of the bearish grip that has been felt ever since last January. Following the first market crash, the bears settled in, and the prices kept falling for an entire year. The market attempted to shake off the negativity on several occasions, with the biggest one being…
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2018 has been a pretty bad year for digital coins, and after the initial market crash that occurred a year ago, everyone was expecting a bull run that will fix things. Obviously, it never arrived, and instead of that, all that crypto market experienced was an entire bearish year and another crash in mid-November.
Now, however, it is a brand new year, and attempts to shake off the bears’ grip can be seen even in these first two weeks. The market is still struggling and mostly losing value, rather than gaining, with most coins being in trouble once more. Still, a lot can happen in a year, and most investors remain optimistic regarding 2019. Here are some of the coins that are believed to have tremendous potential, and to be the hope of this year.
Of course, Bitcoin comes first. This is the first cryptocurrency which is still dominating the market, with no other coin being even close to its market cap or price. BTC is the coin that has reached the most prominent heights, and it also lost the most in the previous year. However, there is still hope, as there are several projects and events scheduled for this year that might turn things around for the number one coin.
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Crypto projects have gone through several crucial periods of development, and while it is fascinating to watch their progress to maturity, a lot of investors are becoming impatient. During the first few years, they were barely known, only talked about in specific groups, among those developers and investors who had the luck to find out about them in the early days.
The next several years, altcoins started appearing, and the voice of cryptocurrency slowly started to spread. Then, there was a period of hype, when crypto exploded, and the entire world finally learned about this new technology that promised to change the world. Naturally, the overhype led to a market crash and price correction that we experienced last year, but the impact was made, and the world is still talking about them on a daily basis.
However, now is the time for cryptos to deliver on their promise, grow up, and start showing results. There are high expectations for many projects, but for various reasons, they have yet to deliver, and many are hoping that 2019 will be the year when they finally do it. Let’s see which 3 crypto projects really need to show results, and soon.
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Are you surprised to see Ethereum at the first spot? The project has been a top cryptocurrency for years, why would it be in danger now?…
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