Introduction — Capital Coin [CAP]

With this being our first Medium article, I expect there to be a lot of new readers, so I’ll get started by explaining the fundamentals behind Capital Coin, the goals of our project and how we will accomplish them.

Capital Coin was created on February 23, 2018. Our original intention was to create a community oriented coin that would be made anonymous through Zerocoin Protocol integration at a later date. However, the coin picked up more traction than anticipated among several large international communities, which resulted in the formation of a 1000+ sized QQ group. For this reason, we have adjusted the projects vision accordingly and have been hard at work trying to create a viable use case that can separate it from the hundreds of DASH and PIVX clones. After much deliberation among the team (there are 4 core developers), we decided that the creation of a quazi decentralized marketplace would be the best way to utilize CAP’s fungible and private properties.

It would be disingenuous to call the CAP marketplace completely decentralized, but we have made it so that all of the negative aspects associated with using a fully distributed, peer-to-peer technology are mitigated or removed completely. In making the UI attractive and the platform easy to navigate through, the likelihood of real world adoption increases exponentially. The current online cryptocurrency marketplace space is dominated by the likes of OpenBazaar and Phore, but these platforms are simply not accessible to the average Joe and use technologies that will unlikely ever pick up real world adoption from the masses.

The goal of our marketplace is to adopt the core functionalities that made Ebay successful: simplicity, efficiency and a secure resolution process. All of the while, reducing any power and intervention from central authorities.

The CAP marketplace will be:

Fast — Withdrawals and deposits are instant. Upon a buyer verifying that the product has been received, the coins are sent to the seller and he can effectively withdraw immediately. There are no excessive wait times, or extra administrative work from a 3rd party.

Flexible — Any product that is legally compliant within jurisdictional boundaries, is available to buy and sell on our platform. Please refer to our marketplace FAQ page for more information regarding this topic.

Unlimited Currency Support — The payment system in place is compatible with any and every single cryptocurrency. As it currently stands, we will be supporting BTC and CAP for exchanging goods, but voting will take place to integrate more currencies in the near future.

Elected moderators — Moderators are elected through off chain community governance. This ensures that they are held accountable and blacklisted in the event of scamming/abusing the system to their benefit. This is also the closest thing we have to any central authority and fulfils the role of resolving disputes.

Efficient Resolution System — Secure multisignature wallets are used alongside smart contracts to prevent any exploitation, bad actors and scams from forming on the marketplace.

Comprehensive Feedback In Place— Incentives have been placed to ensure every buyer leaves appropriate feedback to the sellers they buy items from. For every purchase made, a small additional deposit fee of 10% is added on to the initial price of the product. Once the product has been received and the feedback formed is filled, the funds are released back to the buyer. On later releases, there are plans to add an attractive seller dashboard that compares over a dozen metrics.

Attractive UI — For initial release, we will use an interface similar to Ebay’s. Our priority is making sure the back end is top notch, so that we can deliver a working product by the end of the month. In future updates, one can expect significant improvements to the front end side of things.

Information

CAP is trading on 3 different exchanges:

Escodex -

https://wallet.escodex.com/market/ESCODEX.CAP_ESCODEX.BTC

CryptoBridge -

https://wallet.crypto-bridge.org/market/BRIDGE.CAP_BRIDGE.BTC

TradeSatoshi-

https://tradesatoshi.com/Exchange/?market=CAP_BTC

Website-

http://capcoin.net

Conclusion

CAP is a low market cap gem that is heavily backed by the Chinese community, and is yet to be picked up by users outside of this region.

We have:

• A soon to be working product
• Strong community
• An active development team

The summary above only presents a glimpse of what’s to come. On top of the marketplace, we have Zerocoin Protocol integration planned and an aggressive marketing initiative that will increase awareness significantly. Stay tuned for future weekly development updates, the first of which will be posted tomorrow.