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Nasdacoin
Nasdacoin is a decentralized digital currency developed as a way to provide entrepreneurs and investors with an opportunity to store their wealth in an asset that is not controlled by any government or another centralized structure. Nasdacoin provides a versatile approach to the earning of the coins. Besides being exchanged or sold, it can be both mined and staked with built-in network algorithms. Nasdacoin can be mined using ASIC mining, CPU, GPU and through Nasdacoin mining pool - Nasdapool (nasdapool.com).
At the time of writing this article, the official site of the project offers to download an application for cryptocurrency exchange between Bitcoin, Litecoin, Dash and Nasdacoin, but both the link to the download of the Android app and the link to get an iOS app are leading to the website main page itself.
Nasdacoin price online via CoinMarketCap:
Specifications
Specifications of Nasdacoin according to the whitepaper:
| Specification | Value |
|---|---|
| Coin Algorithm | Scrypt |
| Format | (PoW/PoS) |
| Maximum Supply of Coins | 84 Million (NSD) |
| Pre-mined | 15 Million (NSD) |
| Base Maturity of Currency | 60 Blocks |
| Reward per Block PoW | 25 NSD |
| Block Spacing | 2 Minutes |
| Minimum Stake Age | 15 Days |
| Maximum Stake Age | 90 Days |
| Block Reward Halving Rate | 1,380,000 |
| Network Confirmations | 6 |
Affiliate program
One of the key features of the Nasdacoin is its affiliate program. However, it is also the most controversial point of its business structure. Nasdacoin offers 7 levels of indication. Users that bring new users into the network will gain 1% commissions for it. It also provides so-called Binary Bonus. It is a part of the Affiliate Program that has an ability to pay up to infinity, but with a maximum receiving ceiling. In order to be able to achieve this outcome, user should provide a network with a team of affiliates. For the creation of a team there is an established bonus of 10% of the investment volume of the smallest team, that will be paid daily, limited to the maximum ceiling of $10,000.
The controversial part of the project is that it has nothing but the affiliate program that makes it in any way standout. The project’s technical specifications look similar to a large number of altcoins that existed long before Nasdacoin. The project has no new technology or product and does not provide any unique functions, which is fine by itself as cryptocurrency projects can provide advantages other than new products. For example, the project can provide continuous and robust development or even small things like especially convenient mobile app. However, the lack of new vision, combined with an affiliate program makes it suspiciously similar to multi-level marketing structure and a Ponzi scheme. Another factor is an infamous supposed connection of the project’s co-founder John Baptist to the famous crypto scam BitConnect.
Sources:
- Nasdacoin Whitepaper
- Nasdacoin official website
- Coinchoose.com: What’s In Store For Holders Of Rising Crypto Nasdacoin (Nsd)?
- BitcoinExchangeGuide: Nasdacoin ICO NSD
