Cobinhood (COB), the first crypto exchange to offer zero-fee trading, is getting two new additions tomorrow, Friday, August 27th. Traders can sign up and don’t have to pay a sending or receiving transaction fee, and margin trading and spot trading are also both free of charge, and two new tokens are about to get added to the list of tradeable cryptocurrencies on this platform. The two coins, Achain (ACT) and PlayCoin (PLY), will be listed on the exchange at 0:00 UTC – both at the same time.
So, let’s check out these two crypto tokens, and see what they are all about. I’ll move in alphabetical order.
Alright, I’m just going to say it – there are too many Ethereum-like blockchain networks in this world. It seems like at least 60% of crypto coins and tokens on the market are all basically trying to achieve what Ethereum (and NEO) have already achieved: a public blockchain where users can launch new tokens, decentralized applications (dApps) and smart contracts. Nano (NANO), Dragonchain (DRGN), EOS (EOS), Cardano (ADA) and TRON (TRX) are all basically the same type of project with slight variations among them.
Achain (ACT) is yet another one of these platforms. The main difference is that it uses something called RDPOS (Result Delegated Proof of Stake) rather than Proof of Work (POW) or Proof of Stake (POS) – it’s just a different way of having the blocks verified. This network can handle 1000 transactions per second (TPS) and its block time is an average of 10 seconds. You also don’t have to install their wallet.
This is still a crowded field, but much less crowded than the swarm of dApp-enabling networks that Achain (ACT) is competing with: the online gaming sector. PlayCoin (PLY) is a token that was created by GameHub – a blockchain-based online gaming ecosystem. This coin is built on top of the QTUM network, which is another similar project to Ethereum.
This is how the platform describes itself in its whitepaper: “GameHub will provide an alternative game download platform with lower commissions as well as provide online Influencers to promote mobile games through performance-based Smart Contracts.”
They are trying to combat the status quo, where big corporations like Google and Apple dominate the online gaming app download sector – and charge 30%-80% in fees to developers. Honestly, we’ve already written about a couple of different crypto coins that offer a new marketplace where they use blockchain technology to make a fairer deal toward game developers. I guess the market will determine which online gaming cryptocurrency-based app will come out on top.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.