The BeeNode coin was launched in April 2019. Over the 4 months that it has existed, the coin has been able to make headlines and surprise everyone with its sharp price jumps. What is the reason for this? — Let’s figure it out together!
First of all, let’s look at the technical features of the project:
- The new HoneyComb algorithm developed from scratch protects the project from ASIC miners;
- CPU mining — everyone could turn on their computer and start mining BeeNode;
- No premine — the first 100 blocks came out with no reward;
- Floating reward size — 1 to 20 coins come out depending on the mining complexity in the block
- 10% of reward goes to developers — the team’s budget directly depends on the success of its work on the project.
A feature of the launch itself was that the developers decided not to carry out ICO. They launched the project with their own funds. Ad campaign and attraction of investors commenced only after the coin had started.
All this created intense interest in BeeNode. In the early days, the coin broke all records by number of connected miners.
History of evolution
Promises from developers also looked quite impressive. They promised that there would be transition from CPU to GPU mining when a certain hashrate is reached, that there will be consistent access to exchanges, and that the project will be deployed on CoinMarketCap before end of summer.
How did the project actually develop? Timeline of events:
· April 15, 2019 — CPU mining launched
· April 29, 2019 — listed on Livecoin Exchange
· May 1, 2019 — BeeNode Core version 0.7.2 released
· May 28, 2019 — official GPU miner released
· June 8, 2019 — listed on CoinGecko
· June 27, 2019 — listed on Cronex Exchanger
· August 5, 2019 — listed on Cat.Ex Exchange
· August 26, 2019 — listed on CoinMarketCup.
So, when you look back at the stages passed, you would agree that the project is developing according to plan. The promises made at the beginning have already been met, which once again confirms the team’s commitment to success and long-term development.
“To The Moon” effect
Like any cryptocurrency project, BeeNode has already been able to ride the “scam-to the moon-scam” roller coaster during the period of its existence.
Exchange rate fluctuations have always triggered emotional ups and downs among the audience. By the way, even bitcoin is no exception when it comes to the unpredictability of its exchange rate. But if much is forgiven for bitcoin — due to its age in the market — young coins will have to use their last bit of strength to defend their reputation and prove by actions that a rise or fall in their exchange rates is just a short-term phenomenon characteristic of any market, and not a sign of a decline of the project as a whole.
If you throw away emotions, then you could say that BeeNode has a positive economic situation as a whole for the investor.
The exchange trading chart has already recorded a BeeNode price surge from $1.36 to $27.
Return on investment for fixed investors reached 1985% on each coin bought.
In late August, $1.63 was the price supported by market participants. In all, the coin enjoyed a total 120% growth in the April-August period.
Thus, BeeNode has already confirmed its viability as an investment tool in the short and long term. With the correct approach, it can become a successful case in the portfolio of both the trader and the investor.
Prospects for BeeNode
Any coin has its own strengths and weaknesses. In this regard, the arguments can be classified as “for” and “against” participation in the project.
However, we shouldn’t forget that the global goal of the coin is to build an ecosystem around itself, where BeeNode would become a means of payment.
Based on the given history of events, the team is moving in this direction, executing the tasks it set for itself.
The BeeNode community is playing a crucial role in assessing the attractiveness of the coin. Regardless of the current exchange rate of the coin, the network capacity is growing and the number of masternodes installed is increasing, all thanks to the contribution of each member of the community. All this ensures that the network is decentralized and stable, and also serves as a powerful indicator of persistent interest in the project.
In conclusion, we can definitely say that due to its young age, low starting price and ambitiousness of plans, the coin is an excellent tool both for trading and for long-term investment. And in any case, it is worth to pay attention to.
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And follow Twitter @node_bee
