Introduction on the Crown Coin
Crown Coin is a comparatively old cryptocurrency that was established in 2013 and founded by four Bitcoin enthusiasts who dreamed of creating their own cryptocurrency. In 2014, the token was placed on international financial markets. In the marketplace, the developers used a fair distribution, so no pre-mining or initial coin offering was performed.
In 2015, innovations were then implemented, which distinguished the coin from competing cryptocurrencies. These were BTC merge mining, name stamping and time stamping the tokens. Subsequently, in 2016, a so-called “Code of the Knights of the Crown Coin” was published and anchored with a timestamp in the blockchain.
As a result, many well-known developers of the crypto community joined the development team and implemented the functionality of the master nodes.
At the same time, the currency was renamed and simply referred to as Crown. This step was taken to prepare the token for global deployment. Subsequently, a governance system was introduced to support the democratic financing of development.
The Vision of the Crown Coin
Crown is a decentralized, community-driven platform that allows individuals and businesses to register their identities on the Crown blockchain. This means that their values can be safely stored and traded without any barriers.
This will help make possible a world of cryptocurrencies without the sharing of computational resources. Above all, the legal framework will be adhered to and thus, legal trading of the tokens is enabled.
In the process, several characteristics are named by the developers, which should distinguish the service from competing products. While Crown was initially considered a pure cryptocurrency, it is now planned to move to a blockchain and cloud computing platform.
In addition, Crown is intended to act as a fast trading venue for cryptocurrency so that the master nodes can process and release all new transactions very quickly. Furthermore, an API payment infrastructure is used, which allows the expansion of the business model using normal nodes.
As part of the API, the identity registration is carried out, so it is possible to conclude legally binding contracts on the blockchain. Due to the high involvement of the community, the entire blockchain can be managed by users and a sustainable system can be achieved.
A consensus is also reached within the blockchain, whereby the master nodes play a crucial role. The development of the cloud platform also makes it possible to host applications.
Which Functionalities Will be Implemented in the Future?
Crown is a community-oriented cryptocurrency, so all improvements to the blockchain are designed solely to increase acceptance. To give the community a transparent overview of upcoming updates, the developers have published an update roadmap. This makes users aware of intentions, such as the plan for a new Crown website to be published during the first quarter of 2018.
In addition, a new concept for a registration infrastructure will be presented. The master and system nodes should switch to their own Crown Wallet and thus, ensure better performance. Also, all wallets should be updated automatically. Finally, differentiation from Bitcoin should be intensified by removing SegWit from the blockchain source code.
During the second quarter, the registration infrastructure will be fully integrated into the platform. This includes identity, application services, legal contracts and governance improvement. In addition, Crown agents are to be introduced, although there is currently no further definition of this role.
To increase security, a virtual vault will also be implemented to make users' deposits invulnerable. The third quarter puts a clear focus on the APIs. Here the processes of registration, payment and administration are to be improved.
In addition, the latest version of the Crown platform will be distributed to users and a scalable consensus principle will be published. There are no updates planned for the fourth quarter.
Who is the Team Behind the Development of the Crown Coin?
The Crown Foundation is behind the development of the Crown Coin. Within the foundation are developers, consultants and brand ambassadors. The chief developer of Crown is Artem Brazhnikov. He is particularly well-versed in the areas of cryptography, security, software architecture and programming.
His programming team is complemented by C++ developer Ashot Khaachatryan, developer Volodymyr Shamray, app developers Hypermist and Luke Bettles, web developer Inigo van Dijk, test manager Chris Kibble, and Zendesk support leaders Jose Herranz and Alexander.
The consultants also include the founding members. Dan Ames assumes the role of strategy consultant and is assisted in this task by Jan Brody. Defunctec is responsible for the coordination of development and consulting in the field of finance. Fabian Olesen advises the team on system architecture and is supported by Ivan Labra.
New to the team, but also responsible for strategic issues, is Filip Major. The brand ambassadors will be Joe Connors, Jerry Ruiz, Alex Hoogerbrugge, Roderic, Victor Martin and Alex Bohoslav, who cover various regions of the globe.
How Has the Market Capitalization of the Crown Coin Developed?
The Crown Coin is traded under the symbol CRW and has been officially trading since 2014. On the first trading day, November 8, 2014, a market capitalization of $23,125 US was achieved. By February 2017, market capitalization showed slow but steady growth, decreasing to $182,269.
On January 13, 2018, it peaked at a market capitalization of 73 million US dollars. Here, the trade was realized by 17.1 million tradable tokens, with a maximum limit of 42 million tokens. The average daily trade amounts to 180,000 US dollars.