If 2015 is the year of blockchain technology, 2014 (at least the first half) was the year of the alternative cryptocurrency.
This year has been a slower one for these currencies, some of which have evolved, but many of which have encountered declining interest.
Recently, however, a number of interesting updates have crossed our desk:
Aten “Black Gold” Coin
This coin makes it abundantly clear to readers that libertarianism is not exactly its priority. We last covered this one in January when it was launched on the ANX crypto exchange- one of only a select few that are traded on it.
The latest press release sums this one up pretty well: “Aten Coin – Born for Anti-Money Laundering, Anti-Terrorism and Thief-Resistance.” The update discusses the development of the coin’s regulatory controls and mentions that the real identities of the coin’s users are kept in the systems of National Aten Coin (NAC) Foundation “with protection.”
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Nxt Announces “Project Tennessee”
The second generation cryptocurrency says that it is embarking on a “continuous and coherent marketing/PR campaign.” In addition, it is looking to develop new features/software, create user guides and start an incubator system for projects.
It is hoped that the campaign will rejuvenate the coin, which like most cryptocurrencies- even the “2.0” variety- has seen little by way of real-world adoption and is experiencing all-time lows in trading volume.
MasterXchange Shutting Down
One of the few venues where Mastercoin, one of the earliest Bitcoin 2.0 technologies, was available for trade. MasterXchange’s operators said that the cryptocurrency ecosystem has changed a lot since launching in December 2013. With growing competition and shrinking revenues, they have decided to move on to other projects. Users have until November 15 to withdraw their coins.
Ron Gross, co-founder of the Mastercoin Project, told Finance Magnates that the exchange was a critical component of the ecosystem for Mastercoin, Omni and Counterparty tokens. It was never hacked and funds were secure, “which is saying a lot.”
Acknowledging that times have changed for crypto trading- even in Bitcoin 2.0- he added, “Understandably with the current trading volume in Mastercoin and Counterparty and the recent challenges in the Bitcoin ecosystem with tx volume testing, they chose to close rather than provide their customers with bad service.”