Staky Spotlight: Starname (IOV)
Blockchain brings many promises. Not only as an enabler of cryptocurrencies and crypto-transactions but also as a catalyst of technological evolution across a wide range of industry verticals. Starname IOV is one such pathbreaking development that shows us how effective and impactful Blockchain can possibly become.
Starname: What is it?
At its core, Starname is a decentralized username that appears like: *david or *john. These usernames integrate into various applications and systems including wallets, decentralized apps, exchanges, etc. By integrating this username, one can conveniently accept crypto assets in their wallets or log in to their decentralized apps in a seamless way.
The vision that drove the development of Starname into what it is today was to remove the scope of human error in crypto-currency. To achieve this vision, Starname developed the provisions of an address that could be identified very conveniently with the naked eye. In that way, it is comparable with what a domain name is for a company’s website. However, the premise of Starname goes far beyond just a domain name. Before moving into the features of Starname that make it special, we would have a quick look into the differences between Starname Basic and Starname Premium.
Starname Basic and Starname Premium: What’s the Difference?
The basic edition can be accessed by anyone and does not require paying any fees if certain conditions are met. Such starnames ends with *iov after the name of the user. For example, if the user’s name is John or Barry, the starname basic addresses would appear like john*iov or barry*iov.
The Starname Premium version goes a step further and makes the address personalized. Instead of having address names ending with a *iov, the Starname premium uses the name and converts it into an exclusive address, for example, *john and *barry. Like personalized email addresses with company domains, the Starname premium edition can be used for providing each member of a team their own address for cryptocurrency. If the name of the company is abcxyz, the Starname premium personalized addresses of the employees could look like: abcxyz.john, abcxyz*barry, etc.
Starname: The Main Features
Now that we have a clear idea about what Starname, through both its basic and premium versions can offer, let’s have a look at some of its main features, in brief:
- Using starname address integration, companies and individuals can turn their names into crypto addresses to allow payments.
- Apart from being an integration, Starname also has its own chains and multichains which make it possible for transferable values to be interoperable as well.
- Through an API, Starname becomes available for digital wallets to conveniently integrate.
- The foundation of Starname is strong as it is built on the latest technology of Cosmos SDK.
- As a completely decentralized name service, the design of Starname has been conceived in a way that it gets a token economy of its own.
The Starname Tokenomics
The total supply of Starname is 125 million tokens and its circulating supply is 120 million. Among the reputable crypto-exchanges, Bikaxy is currently the most active market trading the coin. Significant levels of volatility continue to exist within the Starname token economics. While the coin reached its all-time high price on 5th October 2020, it had its all-time low price a month before that. On September 5, 2020, the token registered its lowest price so far at 0.0099 USD and the price went up to 0.059 USD on October 5, 2020.
During the token launch, the developer company IOV SAS conducted a private token sale. Through this sale, the company raised a total of 6 million Euros from a group of 100 private investors that included entrepreneurs, funds, companies, and savvy contributors. In terms of the geographic spread of the investors, 40% were from Asia, 40% were from Europe, and the rest of 20% were from the continent of Europe.
IOV: The Company Behind Starname
Any discussion on Starname would be incomplete without discussing the company behind it: IOV SAS. IOV SAS is a France-based company that aims at organizing the crypto world universally. To fulfill its mission, the company is committed to making cryptocurrencies and crypto-assets accessible and exchangeable for everyone. And, at a functional level, companies and investors can become a part of this world by integrating the Starname IOV address with their applications and wallets. Any blockchain looking for a fully decentralized username without compromising its security and scalability features can opt for Starname IOV.
Starname IOV: Some Recent Milestones
- On December 7, the Starname IOV declared its plans to launch a flash Christmas promo. The company announced that it would be giving away two addresses in the form of *Santaclaus and *Rudolph along with 2 prizes worth 350 IOV tokens to the community.
- In the second week of November, Starname IOV made its collaboration with Aleph.im public. Integrated to Cosmos, Aleph.im works as a secure decentralized network offering cross-technologies as well as cross-chain solutions. The partnership would allow Aleph.im to integrate their token ALEPH to the Starname Manager. With this integration, it would become convenient for the holders of ALEPH to send and receive their crypto by using their starname.
- A week before the Starname struck a collaboration with Aleph.im, it also formed a collaboration with the SECRET network that has the well-known native coin named $SCRT. As applicable for ALEPH holders, this integration would enable $SCRT holders to send and receive their cryptos through the Starname manager and the Cosmostation wallet for now.
Such continuous collaborations with reputable crypto assets indicate that Starname IOV has successfully carved out a name for itself in the world of cryptocurrencies and the seamless transfer of value among individuals and institutions.