oyster cover 800x403 - Hidden Gems of Cryptocurrency #2

Hidden Gems of Cryptocurrency #2

Have you ever wished that you had purchased something in the past which after a few years skyrocketed significantly in value? Maybe a piece of land in what was then an unpopular
neighborhood which is now worth twenty times more? We all feel it often; that strong feeling
of regret when we see the skyrocketing price of something.

The rise of bitcoin’s value has made millionaires out of many of its early adopters. Kristoffer Koch, Erik Finman, and Jay Smith are some of the ordinary people who woke up one day and found themselves sitting on over $1 million worth of Bitcoin.

If you had invested $10 in bitcoins back then, your investment would be worth millions of dollars today. However, it is not too late to jump onto the bandwagon. There are a few new coins that have great potential in the near future.

Oyster PRL, first of its kind, is one of the new cryptocurrencies that, in our opinion, is worth keeping an eye on.

Oyster PRL is currently ranked number 347 on CoinMarketCap. It is trading at $0.151522 with a market cap of $12,876,020. The current total supply stands at 98,529,692 billion PRL. Its circulating supply is estimated at 84.90 million PRL.

So what exactly is Oyster PRL?

Initially referred to as Oyster Pearl, Oyster PRL is a relatively new blockchain project. Basically, Oyster PRL is an ERC20 token that is built upon IOTA’s Tangle and Ethereum’s smart contracts. The goal of the project is to bridge the gap between content creators (blog owners) and content consumers (readers).

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Web users hate annoying ads. On the other hand, many website owners want secure decentralized P2P storage solutions. So that’s where Oyster Protocol comes in. It seeks to mediate the conflict between advertisers and ad-blockers.

The project attempts to offer website owners a completely unique revenue generating model through a single script of code. It also provides a reliable decentralized peer-to-peer data storage solution that aims at improving the security of your data as well as reducing the cost of cloud-based storage solutions.

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Nearly all of us hate ads on websites. A good number of people worldwide use ad blockers when surfing the web. There is no denying that ad blockers create a better user experience. They eliminate annoying pop-ups, flashing and privacy-intrusive ads.

However, ad blocking tools deny blog owners and content creators a source of income. Most website owners and publishers rely on advertisements to generate revenue. The users install the ad-blockers, and the content owner cannot do anything to disable them. The only thing they can do is to deny access to users with ad-blockers.

Oyster Pearl provides a fix for this problem by just adding a line of HTML code on a website. And it generates revenue in the same way a traditional ad would. Apart from this, it offers a safe and secure storage on a decentralized blockchain.

Visitors give some portion of their CPU and GPU power to allow users to store files in a decentralized and anonymous way. In return, users indirectly pay the website for the storage of their files and data – without being interrupted by ads.

Anonymous file storage pricing

Anyone wishing to use the Oyster service to save their documents (in an encrypted and anonymous format) pays a fee. The price due must be paid in “PRL” or the project token. The reasons users pay for the storage as opposed to the free options out there is due to the high levels of security and novelty involved with Oyster protocol. Files that are uploaded through Oyster are typically stored on the IOTA’s block-less ledger Tangle. IOTA is fast, quantum secure and is built upon an exotic technology.

Since there are no usernames, passwords or anything similar to that used, no second or third party will know about what you have stored in it. This means whatever data you store can only be accessed by you and you alone.

Similar to Bitcoin and Ethereum, the Oyster protocol is entirely built upon a community-driven model. There are no centralized entities. All the source code of Oyster is “open” and available on Github.

The role of PRL Tokens in the Oyster network

oyster pearl - Hidden Gems of Cryptocurrency #2The Oyster Pearl whitepaper was published on September 18th, 2017 and the ICO took place in mid-October of the same year. Those who participated in the Oyster ICO earned PRL (the Oyster’s official token).

PRL tokens can serve different functions. Blog owners will be paid in PRL. Those who want to store data on Oyster platform pay a fee in PRL. Visitors to a site integrated with an Oyster code will donate a small portion of their computing power to help power the sophisticated data storage that Oyster provides.

As you can see, this revolutionary blockchain project works quite similar to conventional internet marketing in one way or another. It is more efficient, streamlined and offers a cutting-edge website monetization mechanism.

The team behind Oyster’s success

A person using the pseudonym “Bruno Block” is credited as the mastermind behind Oyster and PRL token. Bruno and his entire team have chosen to remain anonymous. Even so, the team frequently publishes updates, interacts with community members on Reddit and maintains an active GitHub.

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For those without a site: How to make money with Oyster

Oyster is a good opportunity to make money not only for webmasters but also for users who
do not have a website. The latter do not have to do anything but buy the PRL tokens on an
exchange, keep them a few months and then sell them when they have increased in value.
The symbol to search for is PRL.

Choose which cryptocurrency exchange you would like to use. There are many exchanges to
choose from. For example, Coinbase, Coinmama and Cex.io accept debit and credit cards.
To learn more about Oyster PRL, you should check their whitepaper and website, both of
which offers a great starting point for understanding the Oyster Protocol.

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