Rise of the Masternodes
In recent years, there has been a novel addition to the traditional speculative options beyond trading, staking and buy-and-hold strategies: the masternode. Following the innovations of the first masternode cryptocurrency DASH, a wide range of assets began to emerge implementing this technology. GINcoin, (| jin koin |; GIN) is a leading blockchain platform which has blazed a clear trail through this new, dense cluster of masternode options.
Serving both technical and incentive purposes, masternodes provided a new way to participate with cryptoassets and generate a return on investment. This approach is so new, however, that setup and maintenance of such obscure investment vehicles proved far too complicated for the entry-level layperson.
First to Market
Seizing opportunity, the development team of GINcoin built their initial product which pioneered the one-click masternode hosting service model. The GIN platform allows hosting of your masternode (which requires a static IP) without any need of arranging your own server or dealing with the command-line in Linux. Hosting for 120 masternode coins is currently available and the platform has found much success in removing the headaches of new investors and enthusiasts for a reasonable fee.
Cooperatives and Collaboration
Having already identified, addressed and begun operating a consistently profitable cryptoeconomic business, it’s no surprise that GIN has sought to incorporate additional blockchain tools, most notably by employing the Civic identity verification platform. The developers are keen to facilitate co-adoption of related services in the industry, a fact that speaks to the depth of understanding and future-oriented perspective of the GIN platform. Despite being secured by a hybrid proof-of-work / masternode consensus mechanism the team has undertaken the second precautionary step of integrating the Komodo dPoW notarization protocol to protect against 51% attacks as well.
The Next Level
Not content with their accomplishments thus far, the GIN platform is already preparing for the next level of services their network can offer in phase 2. To generate a higher level of value within it, GIN is introducing the GIN Ecosystem Apps (GEA) Protocol to bring decentralized computing to the table.
GIN masternodes which have incorporated the new protocol will be able offer services (and even offer bid prices to prospective customers). The alpha version of this protocol is currently in the discussion and development stage.
The team’s goal with phase 2 is to increase the size of their footprint in the marketplace with an even greater level of innovation and disruption. GEA, A global computer network, would entail running a common protocol and enable the distribution of workloads, apps or jobs, making each of these resilient to single points of failure and enhancing censorship resistance. The developers feel that to reach the next level of legitimacy, products must bring value to real-world applications outside of the insular world of “crypto”.
The GIN team brings technical, ethical and business acumen in equal measure to the emergent digital asset industry while also looking to grow in ways that take root outside of it. The outgrowth of their foundational qualities has given rise to a vibrant and supportive community as well. After becoming early leaders in the masternode space, it’s hard to imagine them not doing so in others with a wider array of individuals.
Want to know more, or experience the GINcoin community firsthand?
Official website: https://gincoin.io/