Home / Cryptocurrency / Is the safe commercial currency really safe? Here's what you need to know

Is the safe commercial currency really safe? Here's what you need to know

Safe Trade Coin (XSTC) wants to be a digital currency driven by the community. In this article, we take a look at the technical features of Safe Trade Coin, the future roadmap and more. And, let's try to assess whether Safe Trade Coin is or not sure use.

Safe Trade Coin Project Mission (XSTC)

According to the project website, the Safe Trade Coin community (XSTC) intends to launch a platform where its currency is integrated and usable. As of September 2018, there is not much information available on past achievements of this project. Although the project website states that the release date of the white paper was to take place in June 2018, the team still needs to provide a white paper.

Abandoned and brought back from the dead

According to the project roadmap, the original creator of Safe Trade Coin (XSTC) abandoned the project in 2017. The project website does not list the exact start date of the project; however, Cryptoslate states that the project was launched in November 2016. While many cryptocurrency projects have failed in the past, most have done so after receiving funding or unsuccessful ICOs in which no capital was raised. The secure commercial currency, on the other hand, seems to have no prior public or private fundraising efforts.

In the first quarter of 2018 the rebirth of the project began. This included the launch of the first Safe Trade Coin and block explorer website. In 2Q 2018, the project started a promotional campaign. This information and subsequent discussions can be found on the Bitcointalk page of the project.

Technical details

Safe commercial currency uses a sign-proof consent mechanism. What sets it apart from other PoS coins is its generous reward. All users can expect an annual reward of 25% from stakeout. This could very well incentivize users to HODL of this currency instead of trading it, perhaps creating greater stability in bear markets.

However, the downside of this may be that users would simply prefer to use XSTC as an investment asset, just like a blockchain bond, rather than using it for real P2P payments.

It is also important to note other details as confirmation for payments requires only two blocks. In other cryptocurrencies, this number is generally higher. For example, Bitcoin requires six blocks. Ethereum requires at least five. While this number may vary considerably, a larger number of required confirmations ensure that a transaction is not easily reversible. Basically, more confirmations usually equate to better security.

The circulating supply is 706,661.973 XSTC. The maximum supply is 840,000,000 XSTC. In other words, just over 84% of the maximum bid is already in circulation. This is a positive sign compared to projects that lack a maximum supply or those that have a small circulating supply compared to the maximum supply. Desktop portfolios are available for Windows and Linux operating systems.

photos of the characteristics of the XSTC coins from the project website

The characteristics of XSTC coins are available on the project website.

Features proposed

Safe Trade Coin (XSTC) assesses its identity as a community-driven project. This means that members of the community (especially those with exceptional programming and planning skills) can contribute to the early stages of project formation.

The project website also states "With an average transaction speed of 60 seconds, XSTC has a solid position in the market. Transaction fees are relatively low and reasonable. "The main technical feature seems to be the creation of a guarantee deposit feature, which will probably be a major component of the future Safe Trade Coin platform.

Team and Future Roadmap

Safe Trade Coin, like some other community-led projects, does not list the main contributors on its website. However, it is not clear who is exactly developing / contributing to the project and to what extent. The future roadmap does not even seem so ambitious. For example, towards the end of the third quarter of 2018, the white paper is not yet listed on the project website.

Furthermore, the Safe Trade Foundation should now be formed. Regardless of whether this organization was or has not been created, there is not much information about its purpose.

In the fourth quarter of 2018, the iOS and Android portfolios should be released. Finally, in 2019, we should expect the start of the development of the escrow platform. As of September 2018, we still have to see regular updates or community interactions on a par with what one would expect from a superior cryptocurrency project.

Photo of the XSTC roadmap

The XSTC roadmap does not include many details about plans for upcoming updates.

exchanges

For those interested in buying Safe Trade Coin (XSTC), there is only one choice. As of September 2018, XSTC is only available on Coinexchange. Furthermore, BTC is the only trading pair available on that stock exchange. Compared to most other cryptocurrencies, XSTC has no exchange availability.

Died again?

The fact that Safe Trade Coin (XSTC) was once an abandoned project is not a good sign. However, the worst news is that the project does not seem to show any sign of positive support in its second life. For example, there were no updates on Twitter of the project from May 2018.

There is some interaction on sites like Bitcointalk but this is also limited. Safe Trade Coin requires more frequent updates and interaction with the community to build a true community.

Notice that the hosting for the Safe Trade Coin blocker had expired.

This pop-up appears when you visit the Safe Trade Coin block explorer.

Conclusion: is safe currency really safe?

When it comes to cryptocurrencies, we have seen a number of exit scams and other crimes. So, is a cryptocurrency called a safe currency using the word "safe" as a way to attract unsuspecting investors? The answer seems to be no. However, the lack of progress of this cryptocurrency on technical updates and marketing efforts should be worrying.

Furthermore, it appears that contributors are late in providing the key updates mentioned in the roadmap. Once the project has published the whitepaper and mobile wallets, we will have a clearer idea of ​​the capabilities of this project and its potential role in the cryptocurrency landscape. For now, we are still waiting for answers to these questions.

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