The Sequence Coin: A Token Against Inflation, Deflation and Devaluation
The Sequence Coin cryptocurrency (SEQ) is the investment token associated with the Duality platform. Designed to protect the value of the Dynamic coin (DYN), Sequence coins should also ensure Duality’s market independence. The protective role also enables new types of interaction between SEQ and DYN.
Sequence coin is a proof-of-stake (PoS) token that features low, controlled levels of inflation. The current total of 45 million tokens and an annual increase of one million aim for a return of investment of 2.2% per year. This projection excludes additional possible price gains due to broader user acceptance.
Dynamic Coin and Blockchain Services
Primarily, Sequence is for investments and to ensure the independence of Duality and the Dynamic blockchain. Additionally, Sequence was developed to prevent the redundancy of information. In particular, this role is filled by Dynamic coin, which provides blockchain-as-a-service (BaaS).
The theoretical platform speed of 64 seconds per block is particularly impressive. The system can confirm new transactions every 64 seconds, allowing comparatively fast processing. Each block has a size of 4MB, which is four times larger than Bitcoin and, therefore, stores more transactions.
The Duality Platform
Sequence coin supports the Duality platform, a community project created in 2014 in response to the Altcoin boom. Finally, in 2017, the platform became known as Duality Blockchain Solutions LLC.
Duality’s developers believe that people who want to break existing paradigms are those who are the most likely to initiate innovation. They also tend to discover better solutions and implement effective solutions to problems. The innovative Duality platform is intended to be a socially conscious project, which stays true to its roots.
An Open-Source Network
In principle, Duality should ensure the development and provision of BaaS on a public network. This aspect differentiates Duality from companies that host their digital currencies on expensive private servers. Consequently, those companies have to pass on high costs to the end users.
In addition, the platform encourages new users to invest in dynodes (second-tier network nodes), to boost Duality platform performance. The distribution of a large number of services also means that all costs incurred are equitably distributed to the users.
The open-source feature allows third parties to use the platform to claim or provide customized services. In addition, the platform can be used as a medium to back up data. In conjunction with Duality, BaaS should be particularly safe, secure and straightforward to use.
The Technical Specifications of Sequence Coin
Sequence coin and Dynamic coin are the two cryptocurrencies used in the Duality platform. The Sequence coin is a PoS currency, designed to hedge the Dynamic coin. The PoS algorithm is used to create a consensus within the network.
In order to function as a node and verify transactions, a corresponding coin asset must exist beforehand. During the associated verification processes, the system re-sends coins to a user’s wallet. This extra measure verifies the corresponding total number of coins.
Sequence Coin Block Size and Processing Time
Other specifications also distinguish the Sequence coin. These include the original proof-of-work (PoW) algorithm entitled Scrypt that processed the first 10,000 blocks. The block time of 60 seconds resulted in rapid transaction processing. An adjustment of the difficulty level of the calculation took place once every ten blocks.
After completion of the digital currency’s pre-mining phase, the algorithm changed to a PoS version known as Blake2b. Block processing time increased to 64 seconds, while recalculation of the difficulty level continued unchanged.
For each successful completion of a block, the platform then guaranteed an additional reward of two sequence coins. The size of a block remained at 4MB to maintain transaction verification speed and prevent data congestion.
The Team Behind the Development of the Sequence Coin
Duality Blockchain Solutions develop the Sequence coin as part of the Duality platform. The team’s long-term goal is to add value to society by providing BaaS. Their vision is to secure end users’ purchasing power, through blockchain technology. Other values of the developers include a belief in financial freedom and improved social circumstances.
Currently, the team consists of thirteen members. Clayton Saliba is the CEO, with overall responsibility for further development of the startup. Mike King is CFO. Spencer Lievens is responsible for the operational development and Remeo Demurashvili is the Chief Community Integration Officer.
Luis Bustamante supervises marketing. Other team members include Mark Sanders (COO), Sven Kercher (CQAO) and Amir Abrams (CTO). Finally, Denis Yourchisin, Ahmad Kazi and Michael Harkess support Chris Driesbach (CCO) and Matthew Langdon (CDO).
Growth and Market Capitalization
On 24th September 2016, the Sequence token traded on the markets for the first time. However, as a consequence of pre-mining, it was not possible to quantify total market capitalization at that stage. Nonetheless, on 10th October 2016, market capitalization reached $157,336 US dollars.
This increased steadily until 9th January 2018 when it reached a peak of $49.5 million US dollars. Subsequently, the currency value experienced a setback of $7 million. In daily trading, the token is worth approximately $30,350.