New people to cryptocurrency may think of Bitcoin as the sole currency in existence – contrary to popular opinion however, many currencies are increasing in popularity. Populous is among them, and has had a quick rise in popularity since its 2017 debut.
What is Populous?
An online platform launched in 2017 by Stephen Williams (a commercial data expert), it allows for the peer-to-peer (P2P) invoice payments. It is actually the first sole Ethereum platform that caters specifically to trade finance and invoices.
It has a profit-sharing token, which introduces conducive trading environments for both invoice sellers and investors on a global scale. The founder of the platform chose to launch a pre-ICO to develop the platform, and it gained widespread support from the community, setting its complete development in the space of a week.
Why is Populous different?
The creators and development team of the currency claim to set their sights beyond the boundaries. This is particularly evident in some of the projects that the platform is pursuing:
Since sporting events are about competition, sports facilities are to enhance the overall experience of the events. The platform has a project, eSports, which happens to be a live experience that comes with unique requirements. In light of those requirements, a new venue develops and caters to the audience that is growing rapidly.
Airports are the gateways to a country, and therefore the experience needs to improve to the highest standards. The design team examines the arrivals curb (a largely overlooked area) and combines physical as well as digital infrastructure with mobile technology and ridesharing. This in turn, eases travellers’ pain and presents more opportunities for operators.
Regardless of the focus, the technology research is essential to the design of the platform. This means that all designers begin R&D, instead of specific departments. Other industry leaders like Nielsen sports are also involved in the research, particularly predicting the changing expectations of the users on the platform.
Alternative coins to use
Populous has the potential for increasing popularity even further with time. However, other coins provide viable alternatives, and we have put a list of some of them.
Ripple/XRP – based on open-source internet protocol currency, and formed in 2012.
Lisk – founded in 2016, it aims to simplify development of blockchain technology, therefore allowing for faster transactions.
Bitcoin/XBT – the most famous cryptocurrency, from 2009. It is similar to Populous because of the proof-of-work system, though Populous uses a different mining algorithm for cheaper costs.
Cardano – thought to be an open-source digital currency, and constantly evolves itself from research and scientific philosophies.
Ethereum/ETH – this is a 2015 decentralized software platform allowing smart contracts to operate without interference from third parties.
NEM – this is another blockchain currency from 2015, and utilizes Java script in its coding.
How Populous mining works
Although Bitcoin was the first currency to use blockchains, but Populous takes it to a new level entirely. Not only does it use shrewd contracts in its blockchains, but also utilizes XBRL information that pegs tokens having a specified end goal to make exceptional exchange conditions for both receipt dealers and speculators.
This has two benefits:
It makes it better for you to enlist any of your money-related exchange and store it securely
It makes sure that the higher part of the benefits you set aside is transparent and you can get enough security rights.
An interesting aspect the currency has is allowing the idea of custom receipt suppliers, and this enables you to plan how you will get your business debts instantly, instead of waiting for long periods to pass by.
Because the tokens (Pokens) are ERC20 compliant, this will allow you to use the smart contracts on the Ethereum blockchains. It also allows for support of multiple world currencies without using third parties.
Trading in Populous currency
Pokens distribution is the basis for the platform. Once investors finance invoices, invoice sellers (borrowers) will get the pokens. You can then change these pokens into fiat currency or you can move them into an Ethereum wallet.
The tokens use ERC20 token standard as a basis. There are three parties in the ecosystem – the borrowers, administrator and investor. Administrators approve the actions of the clients, the borrowers sell invoices, while the investors bid on the available invoices.
These parties will interact with the three technologies of the system, which include banks, auction, and external tokens.
Populous prices and trading history
Similar to other cryptocurrencies in price volatility, Populous has a current market value of over$1 billion, and individual tokens are at $35.93 currently. In fact, the coin’s value has fluctuated by more than 100% within the last four months, with its highest value being $61.52 in February.
Is it worth trading in the coin?
This question is complicated, since even experts generally see investing in cryptocurrency as a risky venture with low returns. The reasons given usually cite the highly fickle nature, and the unpredictable rises and falls in value.
The success of investment will depend on the uptake by individuals and businesses since it favours them the most. The currency will give you a nice return in investment, as well as a whole DOGE coins that you can sell when the value increases.
Cryptocurrency tends to be unpredictable in value, but this should not stop you from investing in Populous. It promises to make a difference in the financial world, but only invest in it if you are not afraid of possible losses.