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Reasons Why Cryptonex Holders Could Expect a Promising Future

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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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Reasons Why You Are Much Safer When Crypto Trading on Dexes

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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

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Crypto Billionaire Predicts Massive Price Growth by 2021

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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…

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TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level

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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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