GINcoin it’s a utility token created to access to the GIN platform, with it you can buy your first Masternode of GIN and start to earn GINcoin. Currently if you want to start a Cryptocurrency Masternode, you or some of your partners have to be a developer and know to code the server operating system (usually Linux or Windows), with GIN platform you can simply use their GUI that will guide you in the entire process to create a Masternode without knowing a single line of code.
How does it work?
The process is simple, just connect to their website, authenticate yourself using their partner “Civic” and then buy your first Masternode, simply as that. You can choose between several coins, and you can also evaluate your ROI directly on the info of the selected coin. They started with only one masternode, their GINcoin, and now they Host 4287 nodes and a $12.6M or 1,913.38 Bitcoin total value.
They recently added a lot of new coins, you can have a look on their platform here: https://p.gincoin.io
Here an example of the process to create a Masternode:
Info and news of the coin (no ICO)
GINcoin has been trading for 4 months now. It started trading on Wednesday, May 23rd, 2018 for a first price of $6.69 with a market cap of $9.57M.
It reached an ATH of $15.89 on 6 June 2018 and now it’s sitting at $2.95 (24 September 2018)
- Ticker: GIN;
- Algorithm: Lyra2Z;
- Block time: 2 min;
- Block reward: 20 GIN – 50% Masternode / 50% miner (decreases by 50% every year);
- Total supply: 10.5 M GIN;
- Masternode: 50% reward;
- Masternode required Coins: 1,000 GIN;
- Premine: 4%.
- September 20th – they’ve added two new coins, Biblepay and Penguin, you can now create a new masternode of those coins, here the tweet:
- September 18th – they have added Wagerxx:
- September 17th – they increased the security of the platform adding Civic technologies as a partner if you want to run a masternode you now have to pass the verification process by Civic, here more info:
As declared by one of the Dev team they are the only platform like this, they have no competitors:
On the questions, who is your competitor?
Bredex has replied: “Good Question! Frankly, we don’t have one right now. We are the only platform of this type.”
Searching on the web I’ve found some projects trying to do the same, http://hive-network.io/ but I can’t find the way to start a masternode and a whitepaper to read more.
I also found EAZY project but it seems to be a dead project because their website doesn’t work and chrome display an alert message when you try to connect, so I assume that they have no competitors at the moment.
The team seems to be hidden, there’s no link on their website, after some research I was able to find the team on Medium:
15 years entrepreneurial experience in the IT industry, the time during which he delivered products and services from SMEs to large corporations and governments with the team and experience built at Neurony. Find him at https://www.linkedin.com/in/emil-muthu-17b9961/.
Big blockchain enthusiast, founder and former CEO of SipStatus, a $100 Million wholesale telecom company, co-founder at SipX Technologies data mining and hosting company and currently CFO of GIN Platform. Find him at https://www.linkedin.com/in/alex-andreescu-40134911/.
Here all the team: https://medium.com/@gincoin/gin-special-report-meet-the-team-397b2035e34b
Considerations about what we’ve seen till now
They are trying to add more and more coins, even if they already have a lot of masternodes you can choose from. I have a strong doubt about competitors, even if they say that they don’t have one I’m pretty sure someone is working on a similar product and we will see it soon. Start a masternode using their platform seems easy and effortless, but on the other side GIN’s new process of verifying yourself could be frustrating,
I like the idea and the execution but there are some hidden sides that leave me puzzled, the whitepaper seems having old, not updated and little information; the team is not showing on their website, they don’t have a Facebook page and they have not many users on their official telegram channel. Anyway, I consider it a good project with good potential, if I were an investor I would look at a low-cost masternode to run and I would try their platform.
What I like
- The simplicity to run a new Masternode +1
- Number of available coins +2
- The adding of the CIVIC security platform +2
What I dislike
- Soon a competitor will show up -1
- Low ATH for the Low Supply -1
GIN receives a Tokeninvestoronline.com rating of 3 out of 5
- Website: https://gincoin.io/
- Telegram: https://t.me/gincoin
- GitHub: https://github.com/gincoin-dev/gincoin-core
- Discord: https://discordapp.com/invite/RTgVNxR
- Twitter: https://twitter.com/gincoin_crypto
By Michele Costa