REVIEW SantaCoin

nonanunik (9)in #blockchain • 3 years ago

SANTA is a meme coin. It was introduced on November 2021, and quickly developed its own strong online community within the first week. Its market capitalization even with only 12 million coins in circulation reached $0.9 billion in mid-December and $1.5 billion in January 2022.

It is not a coincidence that SANTA became hugely popular within such a short period of time. The choice of the name SANTA was not accidental; the project created a lot of memes that revolved around this character.

The SANTA community is vibrant and growing, and is open to everyone who wants to join in the fun and be part of building a new world for all of us to live in together.

SANTA is a meme coin that was introduced on November 2021. It quickly developed its own strong online community within the first week.

It's mission is to bring joy and cheer all around the world, and it does so by spreading holiday cheer, giving presents to kids, tipping for good deeds, rewarding good behavior, spreading love, etc.

The name SANTA stands for "Satoshi's Anonymous Transactions" or sometimes "Satoshi's Annual Transactions". The logo is a picture of Santa Clause with his sleigh pulled by 9 reindeer. The logo was designed by one of the first members of the community, who won a contest held by the other members to create the logo.

SANTA is actually a fork of Bitcoin that uses SHA256 as proof-of-work algorithm instead of SHA256d, which makes it easier for miners to mine on GPUs instead of ASICs. As such, it shares most of Bitcoin's codebase except for the PoW algorithm, but it does have its own unique features as well..

If you consider the price of SANTA as a meme coin, the entire history could be rewritten as follows:

November 2021: The first batch of 100.000.000 SANTA were issued.

December 2021: 1 SANT = 0.00001 BTC, price is 0.00000029 BTC/SANT, low liquidity and low exchange volume, SANT still unknown by most people, but quickly gaining popularity on the internet and social media.

On December 2021, SANTAs first block explorer was launched by 2bacco and was quickly followed by another one by CrazyLoaf.

January 2022: 1 SANT = 0.000015 BTC, price is 0.00000049 BTC/SANT, SANTs are now known to many bitcoiners and have been mentioned several times in the bitcoin subreddit r/bitcoin.

February 2022: 1 SANT = 0.00004 BTC, price is 0.000001 BTC/SANT, SANT community has grown a lot and reaches a million users online at all time, a lot of new services have been developed along with new websites and communities being created every day for SANTAs sake.

March 2022: 1 SANT = 0.00015 BTC, price is 0.000004 BTC

Its name was chosen to be a reflection of the fact that it wants to contribute to the world and make it a better place. It's a meme coin because it wants to give back to the community and help people in their daily lives.

Brief History:
SANTA is having a difficult start due to heavy attacks from its biggest competitor, Bitcoin Cash. However, SANTA proves its strength by recovering quickly from these attacks. The price of SANTA starts growing exponentially and reaches its peak on January 2022.

January 10, 2022: Bitcoin hard forks again and becomes Bitcoin Cash Plus (BCP), with double the block size limit of BCH.

May 10, 2022: Bitcoin Cash Plus changes its name to Bitcoin Gold (BTG) and reduces the block size limit even further in an attempt to appeal to GPU miners.

November 2021: SantaCoin becomes the first major cryptocurrency with quantum resistance when it shifts from using SHA-256 to using Blake-256. This is received positively by both Wall Street and the cryptocurrency community, as prior quantum resistant coins had failed because they were not backwards compatible with existing hardware/software or used algorithms that were too complex for CPUs or GPUs to run efficiently, but SantaCoin adopts an algorithm that can run efficiently on either CPUs

SANTA is a meme coin. What does that mean?

The term 'meme coin' was coined by the legendary Dogecoin community back in 2014 to describe any coin which has its value primarily derived from online social interaction. This is in contrast to other coins which are mainly used as a means of exchanging goods and services.

An example for this would be the infamous Coinye (COYE) which was introduced in early 2014 and quickly became the laughing stock of the crypto community due to several copyright infringement lawsuits against the developers, who had named it after Kanye West's stage name. Coinye's value collapsed almost instantly after it was discovered that the developers were facing serious legal repercussions for this action, but it did manage to get enough traction among users before its decline to form a small but loyal online community who still trade COYE today.

Since then many other meme coins have been introduced, most notably Dogecoin, with a combined market cap exceeding $300 million USD as of January 2016.

Meme coins are very easy to create and can be done so without any initial investment, as all contributions towards a new coin are voluntary and usually rewarded only with a small share of newly created coins. This makes creation of new meme coins a potentially profitable enterprise

SANTA is one of the most popular meme coins in the world. The community has its own culture, including unique terminology, internet memes, digital art, and other artifacts. The coin's mascot is a bearded man with a red suit called SANTA, who gives money to the people who have been naughty or nice. The coin's origin story is based on Santa Claus, with "Santa Claus" being an acronym for "a Semi-Anonymous Network To Assist Newcomers And Tie Things Together."

The community promotes itself as an alternative to traditional cryptocurrencies that are focused on technology rather than fun. People can participate in the community by developing new features for SANTA or creating works of art related to the coin. Most people participate in the community by buying SANTA and tipping other people online.

The coin's slogan is "Fun Comes First".

It is the first coin written with the Counterparty platform, and it was designed to be different. The main goal of SANTA team is to create a simple and understandable cryptocurrency, where there are no pre-mined coins, no confusing blockchain or hard forks.

LEGO models.

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