Currencies

Chaincoin (CHC)

Feb 10, 2018 Admin Currencies

ChainCoin (CHC) was launched in 2014. This cryptocurrency was introduced with the aim of linking up multiple blockchains to eliminate the need to depend upon the conventional banking system, which in some ways disrupts the smooth functioning of decentralized cryptocurrencies. This intended chaining of multiple blockchains is how it derives its name. Basically it is “forked” from Dash. CHC pioneered technology similar to X11 technology.

In all, there are 23, 000, 00 CHC coins of which 16,569,393 have been mined and 14,539,695 CHC’s are in circulation. This cryptocurrency coin is presently quoting $0.631758 and has a market capitalization of $9,185,569.

Features:

  1. This coin qualifies as a masternode coin, i.e., there are computers that execute or run “Dash wallet”. These nodes also take several decisions such as those related to coordinating coin mixing, locking of transactions using InstantSend, PrivateSend etc. Effectively Masternodes facilitate decentralized governance. They also offer Dash evolution which is a decentralized “payment processor”. People with 1000 CHC’s can invest it in masternode, and receive some residual income. There are two types of incomes, i.e., transaction fees, and block rewards. So far there are 2,042 masternodes. Masternode users/operators have voting rights for accepting or rejecting any development. This is a positive attribute because these operators would want developments that would increase their earnings well into the future, foregoing tentative spikes in earnings. Consequently, it is good for investors in this cryptocurrency coin as well.

  2. The coin has the potential to offer high returns on low investments; something like $700 invested in this coin could fetch as much as $6000 or so every month eventually. The coin is not as volatile as other cryptocurrency coins. So far it has offered a 63.83 percent return in 572 days.

  3. It can be stored in Windows Wallet, and Mac Wallet.

Pros:

  1. It has a masternodes system which promises excellent returns in the future to those opting to invest in and hold on to this cryptocurrency.

  2. It can be stored in Windows and Mac wallets.

  3. The Masternode system also offers maximum security when compared to other systems.

Cons:

  1. The progress towards the stated objectives is slow.

  2. There are not many trading platforms where this currency can be traded.

Conclusion:

Between 2014 and 2018 there have been enough initial coin offerings that share the same objective as CHC, and most of them have entered the arena with new technologies and algorithms. This means that the novelty of CHC has ceased to be so. Nevertheless, investing in this coin is far safer than investing in many of the other risky cryptocurrencies, notwithstanding the fact that it is not traded on many platforms. This coin has fetched decent returns in the last couple of years. It is also a safer cryptocurrency because of the masternodes.


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