Review on Communitycoins by Adejoh Samuel
Communitycoin, The Coin For The Community
When great and well focused people come together to make something, they tend to come up with something above ones expectation. So is the outcome of Communitycoin. It is a cryptocurrency that was founded by a team of well experienced and determined people with the sole purpose of building a large community with a good coin for their transaction processes. They have managed to build a cryptocurrency that is well secured and decentralized cryptocurrency. The Communitycoin is a Peer-to-peer and decentralized cryptocurrency that was established in the early times of 2019 and happens to be a community focused project. The project focuses on being transparent and is moving on to achieve this by leaving nobody in control of all transactions made (as they are viewed in a public ledger). They make use of an open source code, which is publicly available for viewing. The project makes use of the Proof of Stake (PoS) method to secure all transactions made, it also has its own blockchain and distributed network of nodes which protects users from about 51% attacks.
The project also allows for staking of coins. The coin staked are used to help in supporting the network and the owner of the coin gains a 1% return. The staking of coin is how newly issued coins are introduced. At first, the staking age was 7days but was increased in October 2020 to 31 days, making every coin to spend 31 days so they can earn new coins. The community gives greater power to a member based on how much coin you are holding and staking. The communitycoin should be a choice of investment to all traders as it is a promising project.
Pros
- The project has most things depending on it's community which is fastly growing with serious minded traders
- It allows for staking of coins which in turn brings reward to users, although it is small it can serve as a passive source of income
- It uses the Proof Of Stake method to protect it's users or coin holder from about 51% attacks
- The project has its transactions viewed in a public ledger
Cons
- The coin is not too popular and still needs to work on improving in the number of token holders
New products
Comments (2)
December 18, 2020
The Communitycoin is a project with a great future. Most projects that depends on community for their growth tends to grow beyond borders. Take a look at the likes of Bitcoin and Ethereum. What this project needs is just time for now and it's success story would be told around
December 12, 2020
There are some types of projects I strongly believe in, community projects are a typical example. When a project has its growth and future dependent on it's community, growth is a confirmed stuff and when it's community experiences growth, it's success has been attained. Communitycoin is going places and happens to be a good crypto for investors
