Introduction on the Oyster Pearl Coin
Oyster Pearl Coin is a crptocurrency. While the Internet is experiencing exponential growth, this development is not yet valid for web content monetization mechanisms. Advertisements intervene in users’ personal rights and distract attention from their content.
They also cause a break in the design of a website. In particular, a general lack of understanding, as well as the negative attitude towards online advertisements, ensure that ad-blockers gain in popularity and have become mainstream.
Ad blockers are already so familiar that many websites prohibit the use of these tools, and drastically reduce their performance. Due to this situation, operators lose a lot of money, because ad blockers prevent advertisements or deter customers from sites where ad blockers cannot be used.
These conditions have made the entire advertising industry ineffective and inefficient, which is why there isn’t a holistic solution currently offered to customers.
In addition, there currently is no storage service that is user-friendly and anonymous. When it comes to user-friendliness, the solutions of established cloud providers are currently being used; the anonymous solutions are not very comfortable and more expert-oriented.
What is the Oyster protocol?
Oyster is an approach that provides a focus on the merger of content provider services and user services. In particular, the cooperation between the two parties is a special aspect, so that everyone can save and load data into a functioning browser.
A decentralized, anonymous, secure and trusted protocol is used, which is referred to as the Oyster protocol.
Which roles are differentiated in Oyster Pearl Coin?
The developers distinguish between the functions of the different users. Storage users must transfer the correct number of tokens to two so-called broker nodes. All transactions will automatically expire, but the appropriate node must be determined.
In addition, the data must be encrypted and transmitted in pieces to the node. Subsequently, the contracts of the node are shared with the system, so that a renewed retrieval of the data is possible. A key is generated for security, which must be specified for retrieving the data.
Website operators, on the other hand, must provide content, goods or services to become part of the network. In addition, the Oyster log must be attached to the HTML site so that the site becomes an integral part.
In return, the operators receive Oyster Pearl Coins. Furthermore, a function as a web node – a browser that retrieves a web address – is also possible. These nodes take over the task of mining. In doing so, they rely on a proof-of-work algorithm by visiting the website. In contrast, these mining nodes get free access to the web content.
The IOTA Tangle
In addition, there is a broker node, which maintains the connection to the so-called Tangle and blockchain. Its task is to distribute access rights so that users and operators have full access to all services. To accomplish this important function, tokens are distributed and treasures containing additional tokens are discovered.
An important function is also handled by the IOTA Tangle. This is an interface that collects all mining information. Geographic analyses are also carried out and irrelevant information is eliminated.
To ensure high performance, the entire network is managed and capacity is distributed as in swarm intelligence. This makes the network immune to enemy attacks and reduces the time to complete transactions.
The last ingredient is the Ethereum blockchain. This is the functionality of the smart contracts required for Oyster Pearl Coin. The smart contracts also determine the value of Oyster Pearl Coin. Miners of blockchain also receive rewards, which are paid exclusively in Ethereum.
How did the market capitalization of Oyster Pearl Coin develop?
Oyster Pearl Coin was officially launched on November 20, 2017, and placed on the market under the acronym PRL. The issue price on the first trading day was only 0.032784 USD. Just one month later, the currency was trading at a token price of $0.04, resulting in a market capitalization of $1.27 million.
By January 12, 2018, Oyster Pearl Coin was in a sustained upward movement, peaking at $230.8 million in the market. In addition, a trading price of $3.65 was quoted. Since then, the token is in consolidation, but has encountered resistance at a level of $70 million.
Trading of Oyster Pearl Coin
Furthermore, around 65.7 million tokens are in circulation. According to the developers, however, a maximum token number of 108.6 million tokens is provided, so there is still enough growth potential. In daily trading, around $1,725 million is being transacted.
The most important trading site is KuCoin, but Cryptopia also plays a relevant role. Furthermore, EtherDelta and CoinExchange are supported as trading venues, but no relevant volume is recorded here.
The most important currency in PRL trading is Bitcoin, which accounts for more than 57 percent of daily trading. Ethereum also plays an important role, with 41 percent implemented here. The rest of the trade is realized using NEO.
The verdict on Oyster Pearl Coin
Oyster aims to re-regulate the generation of revenue on the Internet and create available storage space. Decentralization plays an especially important role, so that user anonymity is key. However, the protocol should also ensure usability and address a broader mass of users. In particular, the various user roles are designed to regulate behavior within the network and maximize efficiency.
Alexander Weipprecht is the managing partner of Provimedia GmbH. As a trained IT specialist for application development, he has been advising leading companies on the following topics for more than 10 years: online marketing, SEO and software. Cryptocurrency is becoming increasingly important to businesses and investors. Through Coin Report and Krypto Magazin Germany, Alexander wants to give all people easy access to the subject matter.