OP Coin. The new PoS coin to invest in?
Hi crypto lovers,
Today a post about crypocurrency. The development of it and a special PoS coin who gets some extra attention.
Crypto will be a life changer
First a short introduction of me, futuredigicoin. I'm an insurance guy for over twenty years and since november 2017 I've been welcomed in the crypto world by a family member. First I was skeptic like most other people who don't know anything about it. But now, a few months later I must say: I get enthousiaster by the day. I really think cryptocurrency will be a life changer for many people.
Why do I think it's a life changer?
When you look at my last resteemed post. You'll find a Dutch fellow steemian @oaldamster. He tells you what is happening when the world of cryptocurrency grows bigger and bigger and how the richest will do everything to prevent losing their dominant role. If you read this post well, you will understand why there are opportunities for the ordinary people like you and me.
Every sunday a review of another coin
To make a leap to my post of today. I want to talk crypto. In this post I'll do my first review of a crypto coin. My intention is to highlight one coin every week on Sunday. So if you read this post and immediately think of a certain coin/ token that deserves extra attention, please put a well-substantiated comment under this post.
OP Coin
The first coin for extra attention is OP Coin. I hear you thinking. OP Coin, never heard of it!
Not strange because at coinmarketcap you'll find 891 coins. And there are coins who already got listed on exchanges and got the necessary volume. I picked OP Coin for a very simple reason. I received some coins for my birthday of a family member and wanted to know what I got exactly. So here it is, my first review!
Website
To start at their website https://opcoin.info/
When you see their site for the first time, I immediately got the following things in mind: Smooth, structured and all desired info on one page:
OP = PoS coin. What's a PoS coin?
I immediately saw it's a PoS coin. PoS = Proof of Stake. To understand what's a PoS coin you'll find a good and simple explanation on cryptopoint. Autor: Robin Heester
"Proof of Stake is a computer algorithm through which cryptocurrencies can reach a shared agreement. Crypto coins that use the PoS principle do not need miners with strong hardware power. They assume a system where anyone with an internet connection can mine. More crypto coins in your wallet means more power to mine, it's as simple as that.
What does Proof-of-Stake coins do?
There are a lot of coins that use this way of mining. A number of well-known examples are Dash, NEO and Waves. They reward their miners in their own way. Because no excessive calculators are required to participate as miner in the networks, blockchains based on the PoS principle are more energy-efficient than the Proof of Work chains. It's more energy-efficient, not much computer power is required, so no gigantic spaces with mining computers need to be set up to become a big player. With a big pile of crypto coins and a simple server you can already join the big boys. Less technical knowledge is needed to start mining. In theory, if you are in possession of the cryptocurrency, you can start mining with a few clicks.
Small investors: join Pool @i-am-everybody
It helps against centralization risks. Of course people with deep pockets are able to mine more, but people with smaller wallets can also join in, but stake less often. To get more stakes for the small investors there's a solution to join a Pool. Most PoS coins have multiple pools where someone can join. The hard thing of Pools is that it requires trust, because you have to send your coins to the owner. I joined @i-am-everybody's pool on advise of a family member. Take a look at his discord and read up. I think this guy is serious and trustworthy, but decide for yourself!
Next thing: check coinmarketcap
On coin market cap you get a good overview of how a coin is put together. You'll find important things like:
- direct link to the website of the coin.
- announcement: link to bitcointalk page. On this page you will find roadmap, exchanges, social media, wallets and how the PoS (type of dividend) is structured.
- Explorer: the explorer shows detailed information of transactions made in blockchain. It shows in which block the PoS is arrived. At moment of writing it's block 61.444. As you can see in picture below we'ar at a point of 1200% interest rate.
- chat: this is their discord channel where you can find community and team for questions, announcement, lotteries, info for pools
- source: a link to their github. Github is a gathering place for open source software where you can find more info of the development of OPCoin. I'm not a developer, so for me it's more abracadabra at the moment.
Team behind the coin?!?
A point that I always pay attention to is: The team behind the coin. With PoS coins it's common that a team mostly is unclear. When it's not clear, I'll be more alert. Because if a team is unknown, the risk increases that they make irresponsible decisions. It doensn't have to. But for me it's something to keep a close eye on. Because if, in the long run, they make irresponsible decisions, who can appeal to them?
Bitcointalk
At Bitcointalk you'll find more details. You also find the regurlarly info as mentioned on their website. But mostly you find other details. More info about burned coins, special promotions. Questions asked by members. Pay particular attention to the questions asked by the experienced members. They know what to ask for if they doubt anything. This allows you to gain much more insight into the coin you might want to invest in.
Which exchanges?
Important communication tool: Discord
Their discord is very import when you want to see all new announcements. When they get listed on new exchanges. Exchanges are important for trading. New exchanges gives more oppurtunities to sell someting of the dividend you
received (of your stakes). Also new lotteries will be announced there. And most important thing. Communication with the team. At their discord you can see how active they are and what they do to further develop the coin.
Roadmap 2018 OP Coin (update)
On January 11th 2018 OP introduced a roadmap for 2018. It's a basic roadmap for 2018. If they achieve all goals earlier another roadmap will be published.
Introducing OP Shop in February
OP announced January 23rd they're working hard behind the scenes on creating an OP store. They will be offering digital version of games on different platforms like Steam or Origin (just key, no box included). Also gift cards will be available. A beta version of the shop is already finished. Beneath you'll see first screenshot. This is an overview of the product page. Of course, this format will change until final version is released. All payments will be in OPC.
Next screenshot is their home page:
The screenshots are not very clear. My first impression, this could be Interesting. Let's wait for the final version. When there's more news I'll update or witte a new post.
Your feedback please
This was my first review for OPCoin. I would like to hear which info you are missing, so that I can still add it. I like my work at Steemit very much, so feedback is necessary.
Resteem or upvote. Appreciated!
Do you want to upvote or resteem this message. It would be much appreciated! In this way, more Dutch people see Dutch people who actually are active on Steemit. Thank you for your time! I certainly appreciate it. @OCP
Dutch group Steemians are waiting for you
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Thanks for reading!
A donation for review is appreciated:
LTC wallet: LbbhFtVia9mhWQKqE4Q6sgg1w2iW4quCVu
BTC wallet: 51450396-339a-4858-a4f6-b46bf0e69bbe
OPC wallet: Cciq8L7LxDQU8XnVYpUon6TLJvUkbPyHyM
I have a deeper understanding of what OPcoin really is and your right, you cant trust a crypto if you dont know the team behind it!
Coins mentioned in post:
PoS coins seem to be the future to cut down on using up valuable resources from PoW mining.
Good work!
JGV
Indeed. PoS is better, faster and energie saving
I sure hope so .... all the coins are looking bad at the moment.
That's temporarely Daisy
I hope so. Seem to be dropping even more now. Losing lots of paper/digital money
I understand. That's hard. Best thing you can do is hold what you have and buy when there are cheap coins/tokens
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I think you should dive a little deeper! They usually put the most important info in the white paper. Maybe you can take some info from there? Anyways, good to see others analyzing coins as well!
Thanks for feedback. You're completely right. See update.