Zorax Talks: Gram coin?
Dear friends! You are again greeted by our rubric — Zorax Talks.
Today, the topic of our discussion will be the most discussed cryptocurrency of 2018 — Gram Coin. Will it get in the Zorax algorithm?
Let’s take a look at what kind of currency it is and why Pavel Durov decided to create it.
Firstly, Gram is a cryptocurrency on the blockchain platform TON (Telegram Open Network). According to the statement of its creators — the Durov brothers — the speed of TON will be higher than Visa or MasterCard. For a minute, it’s more than 20,000 transactions per second. For example, Bitcoin can provide only 7 transactions per second for all users, Ethereum — 15. The Gram coin blockchain platform is expected to be millions of transactions per second.
To create such project as TON, the Durov brothers decided to hold a closed ICO round and they managed to attract more than $ 1.9 billion. All details of the transactions remain closed until now, it is only known that Pavel has applied for registration of securities with the SEC.
Why is Gram unique?
In Gram, instead of mining, “validators” provide for establishing a consensus on the validity of transactions and receive a commission for their services. This makes Gram not as much like Bitcoin, but Ripple. In order for all TON nodes to recognize a valid operation with Gram, a consensus solution of the “Byzantine generals problem” (BFT) is used, which ensures the potential speed of the system.
TON Payments also has a micropayments speed mode, when small payments are not displayed on the blockchain immediately (off-chain). To ensure reliability, a system of “pledges” of validators is used, and each processing node makes a pledge in case of its own mistakes. Pledge validators provide “nominees”. The node can not do transactions more than the amount of collateral. In case of a processing error, the validator and the nominee lose their pledge, which is sent by other validators to cover the costs of the failed operation.
Ensuring transaction speed The TON network models itself as a hypercube graph, where the points are users, and the lines are data transfer. Each node (node) is responsible for a particular branch of the blockchain.
Distribution
Receipt of payment by the seller may be tied to the fulfillment of specified conditions. Pavel Durov refused mining and immediately formed all 5 billion Grams of his cryptocurrency for sale to investors. Of these, 50% went to the fund TON Reserve — a non-profit organization whose task is to stabilize the Gram rate against the dollar. TON Reserve automatically starts buying Gram when its price falls and also ensures the release of new Gram at a price not less than 2% higher than a year earlier. TON Foundation 4% of the mass of Gram will be a premium reward to TON developers.
Another 10% will go to the non-profit organization TON Foundation, which will maintain the TON infrastructure in working condition. The rest of the Gram array is reserved for the gradual sale to investors.
Will Gram get into Zorax’s algorithm?
It can be assumed that Gram Coin will appear on the stock exchanges immediately after launching. But here I would like to note that it does not appear on all exchanges. But key players of the crypto world, such as Binance, Huobi, Poloniex, and many others, will fight for Gram to appear on their stock exchange before the rest.
Zorax works through API with such exchanges as OKEX, Binance, Huobi, BitFinex, Bittrex, HitBTC, Bitstamp, Poloniex, Kraken. Therefore Gram may be in our field of observation. Self-learning Zorax can learn to make more accurate predictions on this coin for some time. With Zorax, you can diversify your portfolio and Gram coin will be included in the Cryptoindex. The collapse caused by a sharp rush of TON after entering the stock exchange can collapse the course of this coin.
What place can it take on the Market?
Gram Coin has a very big opportunity to occupy TOP-10 in terms of trading volume because the user database allows you to use Gram Coin as a means of payment in the Telegram.
We hope that Gram coin will attract more users to the crypto world and we can use it everywhere.
You can always check the current CIX100 composition on our websitehttps://platform.cryptoindex.ai/
Stay updated on our channels:
Follow CRYPTOINDEX on Telegram
Follow CRYPTOINDEX on Medium
Follow CRYPTOINDEX on Twitter
Follow CRYPTOINDEX on Facebook
Follow CRYPTOINDEX on Linkedin
Follow CRYPTOINDEX on Reddit
