Some of the most interesting kinds of coins that are now available in the cryptocurrency market are those that allow users to run masternodes. A masternode is a cryptocurrency node that keeps the full copy of the blockchain at all times, helping with security and ledger uptime—and in doing this work, the owner of the masternode is often rewarded with coins and bonuses. GINcoin is no different—it’s a coin that pays our masternode owners. It just has one unique thing about it: it’s a masternode coin made to support other masternode coins.
What is GINcoin?
The team behind GINcoin wants to allow virtual currency investors to create and deploy their own masternodes in a very user-friendly way. With it, individuals will be able to democratise the way masternodes are created.
Nowadays, it can be a techncial nightmare to set up and deploy a masternode. Those who lack the technical knowledge would not be able to do that by themselves. But GIN wants to change that.
The company has updated its roadmap with the latest information and progress.
- Once-click GINcoin masternode setup
Now it is possible to deploy a GINcoin masternode easily and without having technical knowledge.
- One-click 3rd party blockchain masternode setup
The project can be extended to many other coins allowing masternode investments much easier.
- Masternode setup and Administration UI
Now it is possible to stop relying on console whizz-kids and savy developers.
- Shared masternodes UI
This is the next step in GINcoin’s Roadmap and a very important development in the platform. At the moment there is no specific information on the matter but it is a very awaited release.
GINcoin is one of the ‘Tier 1 Masternodes.’ This is very important to mark because it means that the coin is part of a group of projects with existing products that have a clear use case and have proved to be resilient to different situations.
In this group we find GIN, SmartCash, MCT+, Bulwark, Syscoin, Phore, ZCoin, PIVX, ionomy, Blocknet and Dash. Dash and PIVX are the most known virtual currencies in the masternode ecosystem that are part of this group. Dash has been in the top 10 and PIVX in the top 50.
There are Tier 2 and Tier 3 masternode coins as well. Most of these currencies have already disappeared, the price dropped substantially, or their projects are still being developed.
GINcoin in the Cryptocurrency Market
At the moment, GINcoin (GIN) is the 340th coin in the market. It has a market capitalization of $12.5 million dollars and each coin can be bought for $4.93 dollars.
In order to have a Masternode it is necessary to have 1000 GIN which are worth $4,930 dollars at current market prices.
Back in June the price of this virtual currency skyrocketed up to $15 dollars per coin and reached a market capitalization of over $25 million dollars.
In the future, if the project is able to gather attention from investors the price could reach new highs. For the moment, the virtual currency market is in a bear trend and it may keep in this way for some more time.
GINcoin is a project that wants to help individuals and investors deploy and run their own masternodes without having to rely on technical knowledge. Masternodes virtual currencies have proved to be a good investment tool that worked in the case of PIVX, DASH and many other coins in the market.
If the next products developed by GINcoin capture the attention of those interested in Masternode coins, the currency may reach new prices in the near future.