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Welcome to another post in the series, ‘Coin of The Day’ where we delve in those intangible cash that can disrupt our current financial system. This is where we separate the money-grabbers from the true solid ventures. It is where we pick apart the cryptocurrencies and make the right decision based on facts. If you want me to shill your coin, I won’t. We are in this to be the ultimate winners. If you live by cryptocurrencies and know in your mind that this is the largest advance in technology, then subscribe for this up-to-date and accurate content.
Lets go to the YouTube video for the day. Drum roll please.
(No drum roll? Ok)
As you can see in the above video, the cryptocurrency for us to pick at is Curecoin.
I hope this coin is not as bad as the "6.6." for today's date. Thank God, it is not 2016 (my shitty year).
Curecoin (CURE) is an altcoin that uses the computational operations (not hash power) of any mining computer, albeit ASICs, GPUs and CPUs to carry out folding of protein, generation of new coins and to secure the network.
What Do I Mean By “Folding Of Protein”?
It is what it means. Proteins are folded like paper- no, more coiled like a ribbon.
In biology class in high school, I learnt that protein is made up of smaller units called amino acid (kind of similar to the the components that make your DNA but much larger). Just like DNA, they can be arranged into different sequence or patterns of these smaller units to create different kinds of protein. These chains of amino acids are known in scientific term as polypeptides. They are two dimensional and cannot do much in their "flat" state. But when they are bunched together and scrunched up, the polypeptides become a 3 dimensional (think of a heap of shredded colored paper). In this state, they are active and could serve as a viable specimen in place of live organisms that are used in the laboratory tests (rats, monkey, humans, viruses and bacteria).
End of biology class.
The value of this coin is created by the contribution of your computer power to a worldwide network of computers known as the Distributed Computing Network (DCN) which makes calculations for the sequencing of protein. Each miner is given a reward for adding their input to this network while helping them to create a valuable base of scientific information that can further the push in finding cures for diseases like cancer, HIV and Alzheimer.
Doesn’t it take a supercomputer to do simulations on the folding of proteins?
Yes. Similar to banks, weather station and Google’s main server, these research take a lot of calculations to create such simulation. There is a DCN, Stanford's very own Folding@Home project which makes Curecoin possible. It was created by the professors and other pupils at Pande Lab back in 2000. If you want to read about it, you can go here.
Currently, there are 14 members on Curecoin’s team of which three (founder Josh Smith, Steven Saxton and Max Sanchez) are developers. The rest are ambassadors who knows plenty about blockchain technology and biochemistry.
CURE is mineable using the SHA-256 hash function- mostly by ASICs to secure the network. Other cryptocurrencies that uses the same hash function includes Bitcoin, Peercoin, Bitcoin Cash and Namecoin. Right now, staking Curecoin seemed to be more profitable than mining it.
This research-influenced cryptocurrency was added to CoinMarketCap on May 26, 2014 which makes it an O.G. coin and a Mount Gox survivor. It might have been a great concept back in those days.
For more a brief introduction video of Curecoin, check out the video below.
Now, lets get into the specs:
Wallets for Windows, Mac OS, Linux, Android and IOS.
Slightly ASIC-resistant since graphic cards and ordinary desktop computer were set as the prime systems to carry out the folding of protein.
Mining-to-Folding ratio is locked at 1:4 so for every one Curecoin mined, four other folding coin come into existence.
Environmentally friendly because it is energy efficient to mine on your PC rather than ASICs. Also, they have staking.
Giveaways of eGift cards and other prizes when entities join the Folding Club.
Block time is 10 minutes (soon to be reduced to 4 minutes)
Block rewards is at 6.5 coins (used to be 13 coins but since the halvening took place on May 10, 2018, the reward is now halved). If you are about to ask, Thanos did not cause this.
Halvening occurs every four years like Bitcoin (May, 2020) and Litecoin (August, 2019). This applies for both mining and staking block reward.
-Staking age is 1 month (this is to be reduced also).
As for the folding, all miners worldwide will get a distribution of 7,488 folding coins per day (which is an average of 52 per block)
Proof Of Stake interest rate is 1%, is expected to go up to 4% very soon.
Daily processing of rewards.
Can be mined with Nvidia, Intel Core (15 and 17), AMD and Radeon graphic cards.
To access the folding pool, one should go to https://www.cryptobullionpools.com.
Circulating supply is 23,874,578 CURE at the time of this post.
The maximum supply this coin can reach is not defined.
The overall computer processing speed of Folding@Home DCN is faster than China’s very own supercomputer, Tianhe-2, doing computational operations at over 45 PFLOPS.
All Time High (ATH): US$1.39 (0.00008245 BTC) on January 7, 2018. The best reason I come up with for this all time high price is that the market was still bullish. Many other cryptocurrencies were doing the same around this time.
At the time of this post, its all-time-high of 8245 satoshis is worth 62 cents.
MY CRITIQUE
WEBSITE AND SOURCE CODE:
As seen in the screenshots above, the website is good and convenient (it has tabs that drop down to reveal different pages and is very easy to navigate). I like the blue slides at the very top of the page which has a faded blue background of a protein molecule representation.
The next section below that, the black one, I don’t like much although the contrast well with the blue. I find a bit wordy. However, it reveals snippets of whatever is hiding behind the tab, which are the tutorial to get started on folding, wallets, exchanges, news and updates.
The last portion of the website is all about their partnerships (includes Coinpayments, Capsule Corp. Microtech and Eobot Cloud Mining) and every media coverage on Curecoin for the past four years.
The logo is simple. It has 4 blue spheres connected by five lines. The largest sphere is the bottom right one. To me, the logo appears like stick figure drawing of an organic molecule and could be seen as the connectivity of their network.
Curecoin’s road-map, unlike other cryptocurrencies with their bright and colorful works of art, is not pictorial in nature. It is a an easy-to-read four paragraph draft describing their goals along with what their project had accomplished (some are charity events while others are noteworthy improvements in medicinal research).
If you have 15 minutes of spare time, read the Whitepaper. There are no technical jargons. It is easy to grasp what the team at Curecoin are creating.
As for the T.L.D, it is okay. Their domain is secured and appropriate for such a coin.
Lastly, according to their source code, 168 commits were submitted from eleven contributors with most being added over 2 years ago. The last commit was done by Josh Smith two days ago from the time of this post on Steemit. Overall, I’ll give their activity in developing their coin a score of 5.2 out of 10.
SOCIAL AND POPULARITY:
Twitter- 9,240 followers and growing. This account is quite interesting with its tweets and retweets of scientific research done under the Folding@Home hashtag and Pande Labs. Although these tweets are impressive, the followers don’t engage with them much.
Facebook- There are regular posts on news and updates to their cryptocurrency on here. This page has 1,390 followers (and growing) with 1,345 likes. Like Twitter, the engagement is quite low.
Bitcointalk- 227 pages and counting. This is probably the first altcoin I do a review on with that amount of pages.
Reddit- 947 ‘folders’ and growing. On here, there are many interesting posts that garner decent amount of upvotes and comments. The negatives and positives are equal on Reddit when it comes to Curecoin.
Google Plus- Over 50 followers. No activity since this time last year.
Discord- created by one of the team members, Kyle Johnson and has over 750 members in its chat.
YouTube: Curecoin does have an official channel with more than 30 subscribers and just two videos. Engagement is very low.
Other YouTube Channels: Scores of channels do reviews, tradings and mining tutorial on this cryptocurrency over the years. For instance, YouTuber Nipun Haritash introduce his viewers to the mining aspect of Curecoin:
EXCHANGE:
CURE is bought and traded on the following exchanges:
Bittrex
Livecoin
Coinswitch
TradeSatoshi
No announcement, that I am aware of, of Curecoin being added to more exchanges.
CONCLUSION:
Finally, Curecoin is a altcoin from the days of early cryptocurrencies like Bitcoin designed to reward those who contribute computing power to a global network of miners that have the double benefit of mining other coins and advancing scientific research in regards to biochemistry, possible biological source of energy, pharmaceuticals and cures for diseases.
Investment or not?
I will consider it. Curecoin has proven itself to be cryptocurrency that has been on the charts for most of the market's existence. The development team is transparent and are highly valuable professionals in their fields. It could be useful for the fight against new strains of diseases and research into the function of organisms. The Folding@Home initiative is a potential treasure trove of information that we cannot readily acquire because of factors like cost, space and time. Curecoin has many partnerships with other companies and entities that seem to be holding out with them.
But this project really need to sell their brand to the mass some more. There is not much activity in regards to their marketing and fixing bugs in their software in a timely manner. The average investor does not see the short term benefits and would rather invest in other altcoins that deals with science like Gridcoin and Einsteinium. Its daily volumes on the exchanges are very low.
So I hope the fixing up of their network’s protocol and adding more DCN can make Curecoin, the best cryptocurrency for mass adoption and transactions in scientific community. The most I can see this coin going for is US$5 if the team remain active and be more open with the community. My two cents.
Until next time, remember to upvote, resteem and follow me for this content and much more. Don't let the bear market get you down. December is not too far away. In the blink of an eye, Thanksgiving Day will be here and everyone will get back into crypto. Be patient, my G.O.A.T. squad and secure that seat on the Moon Express.
Later.
Source:
➧ CoinMarketCap
➧ Curecoin's Website
➧ Nipun Haritash's video on how to mine Curecoin
➧ What Is Curecoin video
➧ Sat Bit's video
➧ Picture courtesy of Pexels and Pixabay.
