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Centrality - the story of one cryptocurrency

2020-01-10

Todays virtual marketplace is becoming popular among netizens. More and more new exchanges and online wallets offer their services for the exchange, sale and purchase of cryptocurrency. Centrality occupies a certain place in this system. Lets take a closer look at the features of this system.

About the Centrality project

This cryptocurrency is a decentralized application that helps startups grow. She solves the problem with the vulnerability of projects and provides information support. This uses different sets of dApps. The authors of the platform claim that many new applications lose their activity in the first 3 days. Only 5% of users stay after 90 days. They compiled these statistics while analyzing the work of 10 startups. Such negative dynamics is connected precisely with the lack of worthy informational support.

How Centrality was created

For the first time on the exchange they learned about virtual currency in March 2018. Although the creator of the Centrality cryptocurrency, Aaron MacDonald and his team launched the project back in January 2018. It started as a subsidiary of the Centrality Investments Limited holding. At the initial stage, approximately $ 266 was collected for the ICO. The token sale took just 6 minutes. This is one of the fastest results in the cryptocurrency market. Why did it happen so? The purchase was attended by 8 thousand users who logged in according to the AML and KYC rules.

The company is now headquartered in Singapore. The project team, in addition to McDonald, includes:

co-founder Roger Smith;
COO Jerry Yuan;
technical lead Kevin Eason;
developer Justin Yoon.
These experts were at the origin of the platform. Today, she is successfully helping young startups become recognizable and profitable. The project is also represented by 80 participants from London, Singapore, Auckland and Melbourne. Having united into a single network, they confidently go towards a common goal.

Aaron McDonald and Roger Smith have over 20 years of experience in the IT industry, holding executive positions at Blockhaus Crypto, Telecom Digital Ventures, Gen-I and Putti at various times.

Centrality features

This platform provides special technical and financial assistance to new startups. The Centrality team allocates approximately 100 thousand NZD for each project. Developers get a profit of 20% from the application, which is added to a special marketplace. All functionality is built on the Ethereum blockchain, which is open source. In turn, Centrality provides a library of tools for application creators. Now you dont need to write code from scratch.

The system architecture is represented by the concept of "graph theory". The entire platform is built on the interaction of nodes using the App Connector Engine. User registration is carried out through smart contracts. The project functionality itself has the following elements:

The Centrality crypt has the foundation for launching dApps.
The Big Data Centrality feature allows members to work with services. At the same time, their preferences are analyzed.
At the same time, the marketplace conducts the connection between users and decentralized applications. Also, the essence of the system can be briefly described in the following stages:

The technology foundation is being built with the Centrality Platform, making applications decentralized.
The servers are connected to a special platform, the work with which is based on CENNZ tokens. At the same time, there is a purchase of models and access to users.
Smart contracts allow nodes to communicate with each other.

The result is an ecosystem and a foundation for further business development. They also solve pressing problems that hinder the development of young startups. By the way, the project team is confident that it is successfully dealing with such difficulties:

Market monopoly. Much of the IT market is influenced by Google, Microsoft and other corporations. Consequently, the level of competition is very high. The creators of the platform want a part of the audience to belong to a separate dApp in the ecosystem.
Today, most of the services are centralized. Any failure can lead to denial of access to the system. Thanks to the blockchain, Centrality cryptocurrency is completely decentralized. Users dont have to worry about the platforms performance.
There are so many different startups released every year. Among them, for example, profitable projects can get lost. The developers have prescribed an algorithm that functions through Scene. This way is structuring dApps. The following areas stand out: belong, skoot, ushare, merge. These kits are responsible for the travel market, provision of benefits, routing and transportation.
As a result, projects are able to calculate the size of a potential audience. All of this goes quickly with a technical foundation.

Unfortunately, you cannot find a roadmap on the net. The creators themselves report that there is still a lot of work to write this "document". But they do not provide more detailed information. The user will find out about new items after the fact.

Thus, the platform is a unique crypto-active platform that integrates applications through the Centrality system. Currency is not subject to mining. The coins are issued exclusively by the founders or developers of the virtual currency. In turn, the agile system provides startups with a standardized look and feel.

Is Centrality infinite?

Today the Centrality cryptocurrency rate is over $ 0.14. At the same time, the trading volume in 24 hours reaches the amount of 577 thousand dollars. This indicates a certain popularity of the platform among young startups. Experts, in turn, are confident in the further promising development of the platform, since the system pays more attention to such important areas as housing, tourism, healthcare, export trade and transport.

This blockchain has a number of advantages that can make the coin attractive for investment. But due to the small age of the project, it is difficult to predict a specific time frame for its completion.

The developers, in turn, plan to further develop the project. To do this, back in 2018, they received a grant from the New Zealand government in the amount of 15 million. The development of this budget will be carried out within 3 years.

Expansion of partner programs also continues, for example with Blockhaus AG and SingularDTV. The authors are not going to stop there. New strategies are being developed for cooperation with other exchanges and online wallets.

At the same time, cryptocurrency always inspires its like-minded people, providing them with information and material assistance. The authors of the project support a global network of investors who help them move towards a decentralized future. The value of tokens depends on the demand for ecosystem services.

The system has one flaw. Its concept and principle of operation are not stated in accessible language. The technical information in the White Paper is well described, but an ordinary investor may not want to delve into how virtual currency works. Also, to reach a new audience, it is necessary to prescribe a detailed roadmap, as well as conduct a powerful advertising campaign. Not many users know about the platform.

In the future, Centrality has every chance to hit the international market, but no exact date can be given yet. This situation stops potential investors from investing in crypto.

Strengths of Centrality

The company sells CENNZ. An internal utility token is used to connect to the crypto marketplace. Lets consider in detail the mechanism of buying a coin in three simple steps:

Register on an exchange that works with this cryptocurrency. To do this, you need to specify your email address, come up with a login with a password. Then go through the activation of the account using two-factor authentication. This will increase the security level for tokens.
Deposit funds into a special account using banks.
Purchase coins. You need to click on the Exchange button in the left corner. At market value, coins can be sold through the CENNZ / BTC currency pair. In the event that an order is placed by limit, you need to find the Buy CENNZ field. Enter the number of tokens into it, as well as indicate the price. It is very important to check all the details of the Centrality transaction. The operation ends by pressing the Buy CENNZ button.
Therefore, such simple operations will allow you to quickly buy tokens at a bargain price. In this case, the user himself sets the limit for the financial purchase. During the sale of coins, a special Sell CENNZ link is used, which will allow you to directly exchange the crypt for the desired currency. In principle, nothing complicated. This does not require, for example, obtaining a professional education. The developers specially prescribed such an algorithm.

Today, cryptocurrency can be bought, for example, on the HitBTC exchange for Ethereum and Bitcoin. The price of one token is 9 cents. Although the maximum figure was 53 cents. HitBTC is a joint project of Estonian and Israeli specialists. They have created a platform for trading over 300 cryptocurrency pairs. More than 40% of commercial transactions in Bitcoin Cash are conducted through this exchange. Probably the only disadvantage for Russian-speaking users is the Chinese and English versions of the interface. The functionality here is built on the basis of the Google Authenticator application.

During the period of buying tokens, the following facts must be taken into account:

The platform is a utility token, which will allow it to be used to purchase modules for different applications. You can also establish a reward system for customers who participate in financial transactions.
There are certain restrictions on access to coins. Not many exchanges sell Centrality, which could affect market demand.
Detailed information about the problems of the project and its activities can be obtained through the White Paper.
Thus, it is best to examine the advantages and disadvantages of this cryptocurrency before starting transactions. This is necessary for the successful implementation of any startup.

Centrality in TOP currencies

The well-known website coinmarketcap.com recently released data on the capitalization of this currency. It amounted to over $ 126 million. As a result, the cryptocurrency took the honorable 40th place in the special rating.

The developers have issued 1.2 billion Centrality tokens, although about half of the total number of coins is now in circulation. With such a high capitalization, daily financial transactions do not exceed $ 297 thousand. This is a small figure.

Today the token can be purchased for as little as $ 0.11. In the past calendar year, the coin was worth $ 0.19.

Currency trading volume is constantly changing. For example, from November 19 to November 27, 2019, the dynamics of crypto jumps was indicated on the neovesting.com website. The highest indicator during this period was recorded by experts on November 26, when the total amount was 610 thousand dollars. Although, the day before it was 373 thousand. Such volatility also does not always attract potential investors.

Thus, this currency cannot be called very popular on the international market. But experts are confident that the functionality of the system will help improve the dynamics of project development.