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Storm Token: The Perfect Cryptocurrency for Freelancers

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Storm Token

Introduction:

Since the beginning of this year, the cryptocurrency market has been going through a significant number of changes that are affecting its overall stature. Bitcoin’s rapid fluctuation in price and the general volatility of the market is the most pivotal one among these changes; a significant number of investors are inclining towards the relatively newer coins and burgeoning ICO start-ups to restore some stability in their individual trades. Storm token, the coin that was tokenized in December 2017, certainly belongs to the group of such cryptocurrencies that are capable of offering some ancillary features rather than offering a decentralized medium of a transaction only.

Nowadays, freelancing has become a very popular career choice because of worldwide unemployment. Billions of people across the globe depend on freelance platforms and per diem incomes to support their respective families. As a result, myriads of freelance platforms are now able to run a veritably lucrative business by claiming nearly 40% of the freelancer’s daily income. Losing such an exorbitant percentage of money leaves these people with very little to go on. Storm offers a solution to this major predicament by offering an efficient freelance platform to their users where the charge is just 1% of the freelancer’s earning instead of 40.

Besides this one significant advantage, the blockchain platform of this cryptocurrency can help their users in many ways and effectively change their lives towards a better future. Here, a few aspects of this coin are discussed to highlight the fact why billions of people are nowadays depending on this currency.

Storm’s Internal Architecture – Storm Market:

Storm’s internal architecture is based on a freelancing platform known as Storm Market or Storm Play. Storm Market was previously known as BitMaker and has been offering a highly efficient platform to the freelancers across the globe at a very reasonable price. Unlike other platforms like Fiverr, Amazon, etc. which charges up to 40% for carrying out transactions, Storm Market demands only 1% of the total income. Also, this platform is free from the middlemen influence which makes this much more efficient than others. Storm Market is accessible in more than 187 countries where more than 250,000 can be benefited from this platform on a monthly basis.

The blockchain platform of this token is highly efficient. Despite starting as a centralized token, the development team behind this coin is gradually implementing smart contracts to decentralize its platform so that Storm users around the world can communicate and engage with each other on an open source platform governed by this token.

Storm’s Unique Gamification Design:

Gamification is a very popular strategy that many platforms use nowadays where games or game-like elements such as micro-tasks are added in order to increase active participation from the users. The process deals with the integration of gaming mechanics in contexts like services, websites, and apps so that the user feels exhorted to participate actively. This design also helps in increasing engagement, dedication, and loyalty.

Storm Market or Storm Play incorporates several gamification strategies for their users which include:

  • Creation and completion of tasks
  • Management of other Storm Players
  • Helping to categorize and rank the tasks

Essential Elements of Storm Market and Competitive Advantages:

StormX, the architect of Storm Market as well as Storm Play came out with the ingenious idea of transferring wealth between the platform and participants through cryptocurrencies and by using a mobile app. Thus, Storm Market was introduced with three major constituents:

a. Storm Play: Here, various opportunities and tasks are posted on the platform based on Ethereum blockchain and freelancers across the globe can choose certain tasks according to their choice and win rewards after completing them successfully.

b. Storm Shop: This platform rewards shoppers for selecting specific services or buying various products with bonus tokens through the marketplace.

c. Storm Gigs: Storm Gigs offers the access to multifarious micro-tasks from all corners of the world to the freelancers for winning rewards.

The Storm Market offers several advantages to its holders including:

  • A conflict free environment between the buyers and sellers without any pestering presence of a middleman.
  • Removal of unnecessary risk and cost for dispute resolution with the enforcement of new rules through smart contracts.
  • Multiple opportunities to carry out micro-tasks and earning micro-rewards.
  • Unique gamification design for increasing active participation and invigorating the users.
  • Significant mitigation of transaction cost (Just 1% of the total earning).

Upcoming Major Events:

In May 2018, Storm Token would launch their first testnet which would be the first major step of this coin towards a secured place in cryptocurrency market. The testnet would enable this coin to implement self-executing smart contracts for monitoring the transactions among participants. Hence, trading with this cryptocurrency is likely to be more secured once this event takes place.

Final Thoughts:

As of this moment (26th April 2018), Storm Token holds the 76th position on Coinmarketcap with a formidable market capitalization of circa 246 Million USD along with a price of $ 0.06. With its innovative approach towards the freelance market, Storm has the potential to gain the trust of billions of people around the world and with further technical developments, this number is likely to follow an upward trend as well.

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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 Barry Chignell via Flickr

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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. One of the ways to have a successful…

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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…

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