An ICO Will Be Conducted by the Open Collectors Network ECTO: Will It Be a Unique Token Exchange? 213

Open Collectors Network is an exchange, which is disintegrated. Its functional includes letting users create and trade non-interchangeable tokens. You’ll find out more about it in this article.

What does Open Collectors Network stand for?

Open Collectors Network ECTO can be found at the site OpenCollectors.network. It is a cryptocurrency exchange the purpose of which is creating unique or “non-interchangeable” tokens.

The majority of assets and cryptocurrencies can be converted into other assets or cryptocurrencies with identical names. For instance, if you own 1 GOOGL stock, it means that this stock is fungible with any other 1 GOOGL stock. The same example can be provided using  LTC.

This is how the official website clarifies the term “interchangeable” and what it has to do with cryptocurrencies:

“Imagine you printed 1000 flyers and are handing them out on the street. You don’t care which flyer you hand out from the stack, because they are all identical: same size, same content, same purpose. This collection of flyers is said to be fungible and it’s equivalent to current crypto currencies: if you send someone 1 ETH, it doesn’t matter “which” ETH from your wallet it is.”

The majority of cryptocurrencies are supposedly interchangeable. The 1 ETH you have is the same as the 1 ETH anyone else has, even if they’re protected by different cryptographic codes.

On the other hand, the purpose of Open Collectors Network is to sell and host cryptocurrencies which can not be interchanged. Each token is absolutely unique, quite like a painting of a famous artist or a song of a famous musician. For example, if you wanted to buy a Beatles record, you wouldn’t just pick the first album that catches your eye. Some are cheap, some are expensive, some are bright, some are boring.

Considering this, Open Collectors Network wants to establish a platform to create non-interchangeable tokens. There users will have an opportunity create, buy or sell non-interchangeable tokens.

The Variants of Open Collectors Network Usage

What is the point of creating digital assets that can not be exchanged? Does such currency have any benefits?

The official Open Collectors Network website claims that “the ways to use the network are countless.”

Some of the variants are as follows:

Social Platform: People or groups of people have an opportunity to tokenize exclusive things which are precious for them to use for their personal affairs, like CryptoKitties.

Business Platform: Any self-employed individual or company can tokenize their personal products, for example, a bicycle, a book, or a necklace.

Auction Plaform: Auction houses can keep their stock in the public register using exclusive tokens that stand for exclusive items.

Game Platform: Some games, for example, World of Warcraft, or in-game items, for example, Town Portal Scroll in Dota, can be stored in the public registers to ensure liability and clarity for the owners. It can be used to add financial worth of virtual currency to a certain object.

Virtual Item Marketplace for the Creators of Content: ERC721 standard provides the users with the opportunity to purchase digital items in order to use them in a game or to support the development of a game. So, the marketplace provides the developers with the instruments which will help them to sell their products. Game developers can also use these products to create new games.

Discounts: Enterprises can tokenize their items and obtain unique discount offers. A person can buy token discount codes and then use them to access discounts on some other products outside the network.

Digital Right Management: Open Collectors Network can be helpful for DRM. It can compose a one of a kind digital asset that converts digital media and copyright. It can be implemented to symbolize a graphic, an picture, song, an article, or anything else. Poets, artists, and musicians can sell their digital products to anyone interested.

Identification of Users: Open Collectors Network wants to cooperate with a KYC solution to establish high-tech user verification. A user can verify his identity on the platform, then have an exclusive token based on blockchain.

Blockchain Library: Open Collectors Network is going to have an public online library for collecting objects in the register also known as the public ledger. Some of the ways to use this library contain an array, list, dictionary, or hashmap, or as an public source for thematic collections like C++ Standard or .Net C5.

How Does Open Collectors Network Function?

Open Collectors Network lets all its users create their own exclusive tokens.

Open Collectors Network platform will create tokens based on ERC721 standard. Users will use a seamless UI to create tokens or a standard REST/Json API for more complex/joint/enterprise cases.

Users can determine cooperation rules between their token and other tokens, which will provide conditions for your token which can be customed, just like in a game. We’ve seen other companies, for example Harbor, add identity verification requirements to their token. It means that users need to be registered on a blockchain-based whitelist before the transaction can be completed.

All in all, Open Collectors Network platform lets its users create their own exclusive tokens. It also provides the users with the opportunity to buy, sell, and exchange tokens. Open Collectors Network already supports such non-interchangeable tokens as CryptoPunks, CryptoKitties, Decentraland etc.

As it is stated on the webiste, Open Collectors Network “will conduct the first exchange where non-interchangeable tokens can be sold and bought.

The token of the Open Collectors Network platform is the ECTO tokens. All the operation are carried out with the help of it. It is required in order to eliminate the users that abuse or spam on the Ethereum network.

You can benefit from ECTO, the advatages include discounts for all of  the Open Collectors Network functional, the right to vote for certain components on the platform that should be created in the future, and airdrops which are related to your activity on the platform and the amount of ECTO tokens.

Who Created Open Collectors Network?

The founders of Open Collectors Network are Dan Andrei Singeorzan (Developer) and Ion Cosmin Grigore (Developer).

Singeorzan is a programmer and developer from Bucharest, Romania who worked for BitDefender, Stefanini, and Ivanti before creating Open Collectors Network; Grigore was also born in Bucharest, Romania and previously worked as a software developer at RES Software, Fullscreen Digital, and Libra Internet Bank.

The Open Collectors Network ECTO ICO

ECTO tokens will be issued during the Open Collectors Network ICO. A private sale will go on in February and March of 2018, a public sale will launch in late March 2018 (go to https://opencollectors.network/sale for the schedule and details).

During the token sale, the price of the ECTO will be as follows: 1 ECTO = 0.000166 ETH, or 1 ETH = 6,000 ECTO.

65% of the token supply is assigned to the ICO, 10% goes to advisors, 10% goes to founders, 13% goes to company, and 2% goes for bounty campaigns. Overall, there are 150 million tokens.

Open Collectors Network ECTO Sum Up

Open Collectors Network is first cryptocurrency exchange in the wotld which concentrates on creating exclusive tokens, including non-interchangeable digital assets like CryptoKitties etc. There are millions of ways to use the tokens, ranging from property transactions to music collections.

If you want to find out more about Open Collectors Network and its future ECTO ICO, go to OpenCollectors.network

The Coin Shark does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. Readers should do their own research before taking any actions. The Coin Shark is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the article.

The Viewers of Adult Videos on Pornhub Will Receive Cryptocurrency Rewards 929

Pornhub

The company Tube8, owned by the popular adult entertainment site Pornhub, is planning to move onto blockchain and tokenize the platform completely. To do so, it will be cooperating with Vice Industry Token.

The visitors of the Tube8 will soon get a chance to receive tokens for performing certain activities on the platform.

The purpose of this upgrade is mainly keeping the viewers. The representatives of Tube8 believe that a regular viewer just watches a couple of videos and leaves, whereas if he/she can potentially be rewarded for doing this, it will be encourage the person to register an account or at least return to the site afterwards.

We would like to remind you that Pornhub has recently started accepting crypto as a payment option for its premium account.

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Are Nasdaq and Gemini More Than Partners? 669

nasdaq and gemini are uniting

The representatives of crypto exchanges Gemini and Nasdaq had a closed meeting during which they discussed the possible cooperation in the future.

However, it turned out that the cooperation is too weak of a word in this situation, the exchanges might become a joint venture. This will be beneficial for both of the exchanges, since they will become more liquid and will be able to list more digital coins.

The information came from an anonymous source. He/she stated:

Nasdaq and Gemini have gotten very, very comfortable with each other.”

We would like to remind you that there were rumours that the Winklevoss brothers tried to bribe authorities to get an approval for Gemini.

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Ripple Is Partnering Up With Bittrex and Two More Exchanges 714

ripple adds three crypto exchanges

The project Ripple has recently been very active in terms of cooperation. Not so long ago it invited Bill Clinton as a speaker for their conference and helped Madonna with her charity campaign. This time it announced about the partnership with 3 crypto exchanges.

Bittrex (The United States)

– Bitso (Mexico)

– Coins.Ph (The Philippines)

https://twitter.com/CoryTV/status/1030093091410247680

According to the chief marketing strategist of Ripple, those exchanges were chosen due to the efficient amount of XRP tokens on their accounts.

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Buterin, Winklevoss and Others: The Future of the Digital Currency World According to Major Crypto Personalities 1212

experts opinions on crypto

The crypto world has entered the new stage of its development, it has always been volatile, but these couple of weeks have been absolutely crazy: coins are jumping up and down, Bitcoin ETF is on its way, blockchain is taking over the world.

No doubt, crypto specialists and financial experts have a lot to say. Today we came up with a compilation of sayings from the stars of the cryptocurrency universe that we found particularly interesting and important.

The CEO of the crypto exchange Gemini, Tyler Winklevoss believes that the acceptance of cryptocurrency in the world as a means of payment equal to fiat will not happen in the next couple of years:

The vast majority of Wall Street firms are still not participating in the cryptocurrency market, which remains primarily a retail-driven market. This will change over time, but it will take time.

Pantera Capital’s CEO is way more optimistic on this issue. He sees great potential in the blockchain technology, and digital coins, according to him, are “superior form of currency.

Ethereum’s founder Vitalik Buterin wants cryptocurrencies to become more user-friendly and common in the everyday life. He also thinks it may become possible only in case the proper regulatory framework for crypto is developed by the state governments.

I want to be able to walk into a convenience store, get a card and pay a small fee to start using Bitcoin Cash,” he said.

The last, but certainly not least, is the CEO of BitMEX, Arthur Hayes, who has some serious doubts concerning Ethereum. According to his calculations, the price of the world’s #2 coin will drop lower than $100.

It is this moment,” he added, “that Ether goes from a 3-digit to a 2-digit shitcoin.

Although we are sure that experts know what they are talking about, the crypto world is way too unpredictable. We can only wait and see whether the abovementioned predictions turn out to be true or not.

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Andreas Antonopoulos Criticized Bitcoin ETF 732

opinion on bitcoin etf

The well-known author of books about Bitcoin and the founder of his own Bitcoin-business Andreas Antonopoulos published a Youtube video where he expressed his opinion about Bitcoin ETF and explained why they cause so much sensation.

I’m going to burst your bubble. I know a lot of people really want to see an ETF happen because ‘too the moon’ and ‘lambos’ and all that. I think it’s a terrible idea. I still think it’s going to happen… I’m actually against ETFs,” he said.

Antonopoulos explained that he understands why many people are so impressed by the idea of Bitcoin ETF:

Everybody’s so excited about ETFs because what we’ve seen in other markets is that when an ETF becomes available—as we saw in gold—the price really increases dramatically as suddenly that commodity becomes available to a lot more investors and these investors pile on. But the other side of it is that there’s always these claims that the commodities markets are heavily manipulated and opening up these exchange-traded instruments only increases the ability of institutional investors to manipulate—especially [in the case of] large market makers—the prices of commodities, not just in the markets where it’s traded as an ETF but more broadly,” he clarified.


We remind you that the SEC postponed the decision upon Bitcoin ETF until September.

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The Former CEO of Paypal: Bitcoin Is Eventually Going to Go A Whole Lot Closer to Zero 707

bitcoin's future is not bright

The ex director of Paypal Bill Harris is known for his scepticism and harsh comments aimed at Bitcoin. He even called it “the greatest scam in the history”. This time CNBC interviewed Harris to find out whether his opinion on the world’s #1 digital coin has changed.

According to the businessman, Bitcoin is supposed to be “instant, free, scalable, efficient, secure, globally accepted and useful”, and it fails to fulfill all of those characteristics. Harris believes that there is “no value” in BTC.

He has also mentioned that there is no need in solving the problem of Bitcoin scalability, because we don’t need Bitcoin at all.

Look how difficult it is to get money from one country across the border to another. It’s slow, it’s expensive, it’s all those things. Agree. You don’t need Bitcoin, you don’t need XRP, you don’t need any of that to solve that problem. What you need is faster networks.

Unlike many of his colleagues, Bill Harris has way more trust in conventional fiat currencies due to their relative stability which cannot be said about Bitcoin.

In conclusion he summed up his thoughts by saying:

Bitcoin makes no revenue, no profitability.

Frankly speaking, the current CEO of Paypal Dan Schulman agrees with Harris on this issue, although Paypal might change its opinion on BTC if it becomes more stable.

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