Cryptocurrency Gram by Pavel Durov: at What Stage is the Project Development?

New digital coins appear on the cryptocurrency market almost every day. Vast majority of them remain unnoticed by wide audience. There are still some rare coins, which become very popular even before their official release. One of these projects will be discussed in our today’s article. So, as you may have guessed from the title, this is a review of the cryptocurrency Gram.

Content:
(please, click the topic to scroll down to it)

  1. The history of creation and basic information
  2. What is known for today?
  3. Mining of the cryptocurrency Gram
  4. Advantages and disadvantages
  5. Conclusion

1. The history of creation and basic information

To begin with, Gram is the coin that will be started on basis of the TON (Telegram Open Network) platform. The creator and main ideological inspirer of this project is Pavel Durov. If someone does not know, Durov created the Russian social network “VKontakte”. After he sold his stake in VK, he switched to the new project Telegram messenger. By March 2018, the users base of this project amounted to more than 200 million people (there is no more recent official data).

From 2013 to 2017, performance and functioning of the messenger was carried out exclusively by the personal funds of Pavel Durov (about $ 1 million per month) and the issue of monetization of the project was still open. But after the appearance of information about Durov’s desire to create a decentralized platform on its basis, everything fell into place. Firstly, this became known not from official sources, but after a short period of time this information was confirmed. Durov`s team laid out the white paper project in open access. This document has 140 pages of detailed descriptions of the upcoming project.

Durov calls Gram the third generation cryptocurrency. The blockchain platform TON will be able to process hundreds of thousands transactions per second. This mark is several times more than that of VISA or Mastercard, not talking about other cryptocurrencies.

The project has become so popular that its creators did not even have organize a public ICO. As a result, two closed pre-ICO tours were held, during which the project managed to raise more than $1.7 billion. It is worth to note, that Durov had to refuse many willing investors, since the demand for tokens was huge.

2. What is known for today?

At the moment, there is not much information about this project. New official statements from the development team have not been received for a long time. To have a rough idea of what is happening inside the project now, it is possible to see its roadmap.

We want to remind you, that in mid-April 2018, the Telegram messenger was blocked throughout Russia. Of course, many users will be able to get round the blocking of Roskomnadzor without any problems, but such a policy of the Russian Federation will still adversely affect the users base expansion of the messenger.

By the end of 2018, all Telegram users should receive a Gram cryptocurrency wallet. But it is very important to understand, that this coin cannot be bought anywhere yet. There are many scammers in the Internet, who offer to purchase Gram cryptocurrency. This is absolutely wrong to trust. Its output and, accordingly, listing on major exchanges will happen not earlier than 2019.

3. Mining of the Cryptocurrency Gram

The blockchain Gram will work on the protocol of consensus Proof of Stake. It is possible to mine this cryptocurrency, but the developers have come up with a number of rules which have never been encountered before. Let’s take a closer look at the main features of the Gram coin mining process:

  • Multitasking. The miners will be responsible for not only mining new coins, but also checking transactions, supervising the emergence of new blocks, etc.
  • Random 1,000 miners per month. Each month there will be a new selection of miners, in which all users of the Telegram messenger can take part.
  • The system of bonuses and fines. In case of the conscionable fulfillment of their duties, the miners will be rewarded with an additional amount of coins. This pattern will work in both directions, and in case of disregard for their duties, the miners will be fined.

4. Advantages and disadvantages

The project of Pavel Durov has aroused heightened interest among the entire cryptocurrency community. Since more than a half year passed after the ICO, let`s objectively evaluate all the pros and cons of the TON platform. Let’s start with the benefits:

  • Cosmic transaction processing speed. For comparison: the Bitcoin blockchain can process 7 transactions per second, Ethereum – 17, Visa declares support for 24 thousand (but in fact processes about 1,700), Gram`s indicator is hundreds of thousands, and in theory even millions of transactions per second.
  • Convenience and usability. The whole platform will be implemented on the famous Telegram messenger basis. All operations with cryptocurrency Gram can be carried out directly from Telegram account application. Against the background of modern cryptocurrency wallets with their inconvenient and not always logical interface, the Telegram will look much more attractive.
  • Wide functionality. According to plans of Pavel Durov, it will be possible to pay by cryptocurrency Gram not only in digital, but also in real world. The VPN function (for getting round blocking), which is built in the messenger, is a good answer to Roskomnadzor. To understand the whole functionality of the future TON platform, it is needed to read the white paper of the project. It consists of 140 pages of text.
  • Investment tool. Just in the near future, cryptocurrency Gram will be able to show a crazy growth. It was not for nothing that many rich people invested in this project, the Google company even sent a blank check to Durov, saying that he could enter the required amount on his own.

But like any company on the planet, the TON project has its disadvantages, which we will discuss now:

  • This is just a concept. Many experts and skeptics believe that the existence of the TON project is possible only on paper. Durov and his development team have put almost impossible task (too wide functionality), the implementation of which can cause a number of difficulties.
  • The lack of official statements throughout the 2018 is alarming. The lack of news still does not mean anything bad, but indirectly, this may confirm existence of difficulties with the implementation of the platform.

5. Conclusion

The cryptocurrency Gram is one of the most high-profile events in the industry throughout 2018. In theory, the successful implementation of the project will be able to bring the cryptocurrency market to a qualitatively new level. Cryptocurrency Gram is predicted a great future. The investors of this project are group of the richest people on the planet. But the development team has not yet represented a really working product to a wide audience, so it’s too early to talk about the future of the TON platform. We can only wish good luck to Durov and his team, as well as intently follow the development of events.

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How Is a Schoolboy Millionaire Doing: A Story About the Youngest Bitcoin Richer

Erik Finman’s life is like a dream. He is the youngest Bitcoin millionaire in the world. His digital wallet stores more than 400 BTC, which at the rate of $20 thousand per one coin was equal to $8 million.

From a schoolboy to a Bitcoin Millionaire

The story of Erik Finman began in 2011, when he was 12 years old. Young man received from his grandmother $1 thousand for college. However, the guy decided to invest them not in education, but in Bitcoin. He was confident that the digital currency has a great future and therefore he will have it, if he buys BTC. A schoolboy purchased Bitcoin on all the money that his grandmother gave him, with the rate of $12 per one coin.

The first million Erik earned at 15 years. Before that, the future millionaire, argued with his parents that he would not go to college if he earned his first million before the age of 18. When the Bitcoin rate first increased in the summer of 2017, Finman became a millionaire. After that, he went into business.

In 2013, Erik’s capital was valued at more than $100 thousand. This fortune pushed the guy to drop out from high school, in order to start his own business. Moreover, the young man was convinced that the secondary school provides with low-quality education.

“I had these teachers that were all kind of negative. One teacher told me to drop out and work at McDonald’s because that was all I would amount to for the rest of my life. I guess I did the dropout part.”  – said Erik in CNBC interview.

The young entrepreneur founded his own online educational platform Botangle, which helped the young people to find suitable teachers for class via video chat sessions.

January 2015 has been a remarkable for the guy. He sold Botangle for 300 BTC, whose rate at that time was $ 200 per coin. The buyer also offered the guy $100 thousand in exchange for the business. However, Erik was convinced that it was much more promising to make a deal with cryptocurrency.

“My parents asked ‘Why don’t you take the more cash? But I thought of it more of an investment.” –  Finman explained.

You may ask, what’s the catch? And the catch really is. After all, the guy for $100 thousand could buy 500 BTC instead of 300 BTC. But he chose cryptocurrency, because the official transaction is accompanied by certain difficulties with which, the underage wouldn’t not cope.

Today, December 2018, Erik has about 400 BTC at his disposal, and the Bitcoin rate varies within $4,000 per coin. That is, Erik’s fortune does not exceed $2 million. Despite the fact that experts like Warren Buffett are confident that the cryptocurrency is a bubble that is about to burst, the young man says:

“Personally I think bitcoin is going to be worth a couple hundred thousand to a million dollars a coin”

Some believe that the young millionaire suffers from paranoid syndrome. After an increase of popularity and capital, Erik is obsessed with the security of his assets. For example, he divides his capital into various super secured wallets.

Bitcoin millionaire lifestyle

Erik bought a house in West Hollywood, where he neighbors with young YouTube stars and IT elites. Well, and as usual it happens, the guy had his head turned by his fortune. The first evidence that Finman “went off the rails” was the reusable rental of Lamborghini sports cars.

The insanity did not last long. During this dizzying period, the guy did not insert the diamond teeth, did not fill the wardrobe to the full with clothing. By the way it is half empty. The millionaire dresses very inconspicuously: T-shirts, shorts and jeans.

Erik hated the school so much, that when he bought a car, it was indicative that he chose a number with his average grade of school certificate – 2.1GPA.

All of Erik’s relatives have a higher education, so they really want their children to get a higher education. But, a bet’s a bet,and besides, the guy is not going to college under any circumstances:

“The purpose of that would be to get another education level and get a job. I had to learn through running a business. Instead of writing essays for English class, I had to write emails to important people.” – said Erik. “The way the education system is structured now, I wouldn’t recommend it,It doesn’t work for anyone. I would recommend the internet, which is all free. You can learn a million times more off YouTube and Wikipedia.”

The young millionaire eats at Polo Lounge, In-N-Out Burger and other restaurants, depending on his mood. In his free time from work, the guy travels. He likes to have a rest on distant continents, especially Dubai.

Source: https://www.inverse.com

Now Finman is in charge of managing his own and family Bitcoin investments.

The young millionaire’s view of the future of cryptocurrency

The world’s first cryptocurrency by capitalization is not the only digital currency that makes up the capital of the millionaire. Litecoin and Ethereum are also in reserve.

If the young man believes in the future of Bitcoin, the future of Vitalik Buterin’s creation he doubts though. Erik believes that Ethereum’s growth depends on speculation on the crypto market.

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Cryptocurrency Prices Today, December 12: Cryptocurrencies Are Relatively Stable

crypto prices

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the online platform Coingecko, Bitcoin (BTC) remained stable over the past 24 hours. The price at the time of writing is $3412 per coin.

Cryptocurrencies are both in the red and in the green zone:

Bitcoin Cash lost 4% over the past 24 hours and costs $95 per coin;

Ripple added 0.52% and costs $0.30;

EOS grew by 0.04%, and its price is $1.91;

Litecoin dropped by 0.91%, and its rate is $24;

Cardano increased by 0.32%, and its value is $0.029;

Stellar lost 2.76% and costs $0.11;

IOTA fell by 7.31%, and its cost is $0.24;

Dash decreased by 4.83%, and its price is $65;

Monero became cheaper by 1.40% and costs $43.

Over the past 24 hours, Ethereum lost 1.59%. The coin rate is $89, according to Coin 360.

The total market capitalization is $109 billion. Bitcoin accounts for 54.9% of the total volume. In monetary terms, it is $60 billion.

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Tether Made It into Top-5 Cryptocurrencies

The king of stablecoins Tether (USDT) is now the 5th biggest cryptocurrency, according to the rating of CoinMarketCap. Although the coin did follow the overall downward trend, it is clearly doing better than EOS and Ethereum. The rating now looks like this:


Source: CoinMarketCap

Despite the jump in the rating, things are not particularly amazing for Tether. The coin is quickly losing holders, since its alternatives (like Gemini Dollar) have way more customer-friendlier conditions.

The crypto industry is turning upside down. Given the level of volatility, the top-5 newcomers might or might not stay there. We remind you:

Stellar Has Outrun EOS and Became the 5th Top Cryptocurrency

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Cryptocurrency Prices Today, December 11: Cryptocurrencies Are Once Again in the Red Zone

crypto prices

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the online platform Coingecko, Bitcoin (BTC) lost 1.8% over the past 24 hours. The price at the time of writing is $3425 per coin.

Cryptocurrencies are also falling in price:

Bitcoin Cash lost 3.52% over the past 24 hours and costs $99 per coin;

Ripple dropped by 1.43% and is $0.30 in value;

EOS minus 3.41%, and its price is $1.91;

Litecoin decreased by 1.50%, and its rate is $24;

Cardano lost 2.49%, and its cost is $0.029;

Stellar fell by 1.29% and costs $0.11;

IOTA added 2.85%, and its value is $0.24;

Dash lost 3.36%, and its price is $68;

Monero became cheaper at 4.77% and costs $43.

Over the past 24 hours, Ethereum lost 1.43%. The coin exchange rate is $90, according to Coin 360.

The total market capitalization is $110 billion. Bitcoin accounts for 55% of the total volume. In monetary terms, it is $60 billion.

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Top Serials Where Cryptocurrency is Mentioned

Who doesn’t like to relax on the soft couch watching a show after an intense day? The Coin Shark has made a compilation of serials about cryptocurrency, so that your rest will be complemented by benefits.

1. StartUp

This serial opens the compilation of crypto serials for a good reason. This is the first picture, that doesn’t merely deals with digital currency, but contain it in the heart of the plot.

Cybertriller about cryptocurrency, hackers, bankers and mobsters, who are combined in order to change the world. In the picture, instead of the well-known Bitcoin and Ethereum, a fictional digital coin called GenCoin is used.

TV series adviser Brian Stoeckert, expert in risk management and anti-money laundering, in the interview with CNBC said:

“People have heard about digital currency, but they really don’t understand how it operates. They just see it on the headlines,this is one way they can follow a story line and get a unique perspective on it”.

2. Mr. Robot

Sam Esmail created not just an American psychological TV show, but the whole iconic picture, which consists of 3 seasons. The serial is highly appreciated by programmers and those, who are interested in innovations.

The main character Elliot Alderson, played by an actor Rami Malek, leads a double life: by day, he is a cyber security engineer, and by night – a genius hacker. But the double life doesn’t end here!  Elliot has a split personality.

In the serial a fictional cryptocurrency Ecoin is involved, even the famous Bitcoin is mentioned. In one of the episodes, the president of E-Corp or “evil corporation” Philipp Price (the actor Christopher Michael) and a high-ranking official, whom serial fans compare to Jacob Lew, discuss the future of their cryptocurrency and Bitcoin.

“The problem here is hard cash is fading, rapidly, this is the way of the world right now and Bitcoin is spreading and it Bitcoin takes of the wheel all in a world of hell. It is unregulated,it’s already reached its transaction volume maximum and it is part plate control by Chinese miners”.

3. The Big Bang Theory

Popular comedy series, which wins our hearts with edgy sense of humor and thin sarcasm. Many believe, that the target audience of sitcom are just “techs”, since its main characters Leonard Hofstadter and Sheldon Cooper, who were played by Johnny Galecki and Jim Parsons respectively, are talented physics. Nevertheless, the humour doesn’t revolve around the science and the characters get into quite familiar situations for everyone.

The series creators were inspired by cryptocurrency so much, that in 2017 they have devoted the whole episode to it under the name “The Bitcoin Entanglement”. In the serie, the main characters recalled, that they had mined BTC and saved them on a Flash-drive, which was lost 🙂

4. The Simpsons

There is no person, who’ve never heard of The Simpsons. This yellow people are well-known around the world and head of the family Homer, voiced by Daniel Castellaneta, is often cited in comic public groups. And there is no wonder, because in this situational animated comedy you have everything you need in order to get inspired by positivity and get temporarily disconnect from worries.

The cryptocurrency in the serial is mentioned in an episode in 2013. In the serie Krusty the Clown tells, that he is broke, because “All it takes, is a bad luck with a ponies, worse luck in a Bitcoin market, heavy investment in a high and bookmark company”.

Also in the 7 serie, season 25, Bitcoin was depicted on the billboard near the school:

5. Almost Human

You must admit, that it would be weird if a science fiction TV show, events of which develop in 2048, didn’t concern Bitcoin. The creator, J. H. Wyman, wouldn’t make such mistake. True, Bitcoin in the series, is not what we are used to “not seeing”. Here, the first cryptocurrency of nowadays is presented in the form of a large flash drive.

6. The Blacklist

The cryptocurrency has not fully replaced the fiat and a certain percentage of humanity doesn’t even understand what it is. But, others are already bringing clarity to the public about the digital currency. The writers,of “The Blacklist” decided not to invent a new cryptocurrency, but to use the well-known Ripple.

We want to remind you, that recently Ripple has become the second cryptocurrency by capitalization on the market.

7. Billions

This serial is mandatory to view for those, who are involved in finance and closely linked to the economy.

Billions is a melodramatic picture with a dynamic plot. The action of episodes are develop around two largest players in the US financial world – successful businessmen Bobby Axelrod and the Prosecutor of the Southern New York District – Chuck Rhoades.  Chuck knows, that Axe’s fund is maintaining shadow activity, because of that he is constantly looking for and consequently finds compromising evidence. The cast characters – Damian Lewis and Paul Giamatti respectively.

Now Billions – is the best serial about finance. The heroes begin to use cryptocurrency in the third season.

Cryptocurrency also appears in the following series: “The Good Wife”, ”Person of Interest”, ”Blindspot”, ”iZombie”, ”Family Guy”.

We hope that you will not lose the compilation of crypto series from The Coin Shark. In order for this not to happen, share it on social network with friends. Enjoy watching! 🙂  

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Cryptocurrency Prices Today, December 10: BTC and the Rest of Cryptocurrencies Are Trying to Restore Positions

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the online platform Coingecko, Bitcoin (BTC) gained 1.7% over the past 24 hours. The price at the time of writing is $3484 per coin.

The remaining cryptocurrencies are also in the green zone:

Bitcoin Cash added 1% over the past 24 hours and costs $108 per coin;

Ripple grew by 1.47% and costs $0.31;

EOS plus 10.39%, and its price is $1.99;

Litecoin increased by 0.84%, and its rate is $25;

Cardano added 2.21%, and its value is $0.031;

Stellar gained 2.30% and costs $0.12;

IOTA grew by 2.44%, and its value is $0.24;

Dash added 4.90%, and its price is $72;

Monero became more expensive by 2.58% and costs $47.

Over the past 24 hours, Ethereum added 1.52%. The coin rate is $93, according to Coin 360.

The total market capitalization is $112 billion. Bitcoin accounts for 55% of the total volume. In monetary terms, this is $61 billion.

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