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Reasons Why Cryptonex Holders Could Expect a Promising Future

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Cryptonex
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Cryptonex or Cryptonex platform (CNX) is a relatively new cryptocurrency that was tokenized from its initial coin offering (ICO) stage on 7th October 2017. During its ICO stage, the coin was able to raise a considerable amount of money by piquing the interest of both new and experienced traders and investors across the globe.

The main purpose of this currency is to offer an open source and decentralized blockchain platform as well as an exchange where the users can exchange any fiat currency in the world with certain cryptocurrencies. The coin was also designed to provide the opportunity to buy goods and products using digital currency and payment cards with minimum commission. The market upheaval caused by Bitcoin in January 2018, caused significant panic and doubt among several investors. As a new altcoin, Cryptonex used this as a golden opportunity to acquire a commendable position in the market in terms of price and market cap. On January 27th, CNX reached its apotheosis by acquiring a market cap nearly 455 million USD. Although the scenario has not been such overwhelmingly good since then, this coin is hanging on with new developments and a steady price.

Here, a few aspects of this currency would be discussed to accentuate the reasons why the current CNX holders can be hopeful about its future.

The Technology behind Cryptonex:

The blockchain platform of this coin is predominantly based on the Scrypt algorithm, the same one used by Litecoin. As a result, Cryptonex is absolutely free from the influence of Bitcoin which might come as a benediction at the moment because of Bitcoin’s intractable volatility. Also, Scrypt algorithm helps in designing a blockchain system with high scalability and security.

The ecosystem also runs a bug abundance program in order to connect with the group as well as to get rid of major bug problems if the situation demands.

The Key Features of Cryptonex Blockchain:

Cryptonex was introduced as the first blockchain acquiring in the crypto-world and has been grabbing the attention of investors around the world with its various features. Some of the most conspicuous features of this blockchain platform include:

  • Transparency: Cryptonex offers an incredibly transparent blockchain platform maintained and properly synchronized by multiple nodes. A transaction is added to the blockchain if it is verified and permitted by all of the nodes involved in this system. Consequently, all the participants get the access to only one and the same piece of information thereby increasing the openness of the platform to the traders.
  • Security: As mentioned earlier, the ecosystem of CNX is based on the Encryption Scrypt Algorithm. Scrypt algorithm is well-known for protecting all transactions made within a system by concealing them from Trojans and various other malicious programs veering around the internet. As a result, hacking the database of Cryptonex is veritably difficult even for the most adept hackers. Also, the mining procedure on this blockchain platform is fairly safe as the block closure is thoroughly checked and verified by the nodes. In case any information de-synchronization takes place concerning a questionable transaction, the transaction is rejected forthwith by the platform.
  • Efficiency and Scalability: Scrypt algorithm is also known for its scalability. It enables the Cryptonex platform to finish checking pertaining blocks in a very short time eventually providing a lightning fast transaction facility. Since the inception of Bitcoin, it has been suffering from the problem of offering a quick and less expensive transaction system. On that aspect, CNX is manifestly a more efficient and convenient cryptocurrency.
  • General Convenience: This cryptocurrency can be successfully implemented on mobile applications like Android or iOS as the users of these devices can use the functions of CNX web wallet along with contactless payments.

Availability:

Cryptonex is currently available on multiple exchanges including names like HitBTC and Yobit. So, if any trader becomes interested in trading with CNX, finding it wouldn’t be a major issue. Also, interested investors would be able to find Cryptonex on MacOS, Linux, and Windows wallets as well.

Current Scenario:

As of this moment (19th June 2018), Cryptonex holds the 63rd position on Coinmarketcap in terms of market capitalization (approximately 176 million USD) and price ($3.90). The current figures are showing some improvement from its previous ones by a percentage 3.74. Despite the fact that it is impossible to foresee the price trend for the next few days accurately, it can be said that CNX is currently in a stable condition with a slightly upward trend.

Final Thoughts:

There are approximately eighteen hundred cryptocurrencies currently available for trading and thus the competition among them to attract new traders is quite ferocious. Under the circumstances, Cryptonex seems to do reasonably well with its efficient and secure blockchain system. As several traders are inclining towards the currencies with greater scalability, security, and stability rather than a gargantuan price or market cap, current CNX holders can expect a reasonably lucrative 2018.

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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.

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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Altcoins

ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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SonicX
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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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