The sphere of digital money does not stand still developing with amazing speed. Most of the developers study and analyze the already existing platforms in order to make improvements and get their part of fame and success.
The fame of the very first cryptocurrency projects excites the minds of many developers. Analyzing and studying their prospects, they try with all their might to create their own innovations, eliminating the mistakes and shortcomings of the first ones. Despite their efforts, the result stays the same – Bitcoin and Ethereum are the leaders of the digital currency market.
Earlier attempts have been made to create projects similar to Ethereum such as: Lisk, EOS. All of them were supposed to become direct competitors for ETH, but it didn’t happen.
Another hope for developers in the field of decentralized platforms is Expanse (EXP) cryptocurrency.
Expanse – just another fork or cryptocurrency of the future?
This cryptocurrency is a platform of programs, decentralized data and smart contracts.
The method of this project has the same basis as the Ethereum technology. The creators of the project are a small group of people who decided that this platform should be managed by miners, at least the majority of them. In this regard, the need to make major or most important updates to the system is done with the consent of each miner and user. This is one of the differences between Expanse and other cryptocurrencies.
The development of this digital currency took place in the autumn of 2015. In the same year, it was presented to the world. And as mentioned earlier, the main advantage of this system, compared to Ethereum, is that this system is managed by users and miners. This means that no third parties are involved in the system.
Where and how to buy this digital currency?
You can buy cryptocurrency on 3 crypto exchanges. The first is the Bittrex exchange, which accounts for 98% of all transactions. Other exchanges with very small volume are Graviex and BTX Pro. On these platforms, it is possible to buy a coin exclusively for Bitcoin. Expanse e-currency is not supported by online currency exchanges.
The main advantages and benefits:
- Reliability – as all decisions are made by miners and users of the cryptocurrency, the possibility of any influence from the outside is excluded.
- Relatively good prospects for growth and realization.
Where to store EXP
Since exchanges provide storage services, it is quite possible for a user to leave all their coins in exchange accounts. Let’s see why you should not do that. First of all, the crypto exchange is one of the major vulnerable places for hackers to steal funds. Secondly, when user leaves his funds on exchange, all client’s funds are in exchange accounts and, from a legal point of view, it is the exchange who owns those funds.
Based on two good reasons why you should not trust the storage of coins to exchanges, it is worth talking about the services for storage, which can provide protection of funds. The main methods of storage – software and online.
There are a lot of software wallets on the market, which are full of great features and promise the user a secure storage. But quantity does not imply quality, because the more functions a wallet performs, the harder it is to understand and more difficult it is to manage.
That’s why online storage attracts most users. You can use EXP online wallet by following this link. It is a user-friendly and intuitive service and it won’t take much time to deal with it.
And remember, no matter which wallet you choose – never share your secret keys with anyone and keep them in a safe place.
Expanse mining
Year after year, mining cryptocurrencies is getting harder and harder, because you need at least a couple of graphics cards for quality mining. As an option, you can consider the so-called cloud mining, but this method reduces the profitability of mining even more.
Nowadays, many miners are in search of new promising coins, for the mining of which they can get a relatively high reward. This is due to the fact that the reward for mining popular coins is decreasing every year. Expanse may be a good option in this regard.
Prospects for Expanse cryptocurrency
Expanse essentially has the same code as Ethereum, that is a copy of it in some way. In this regard, this cryptocurrency has adopted the flaws and vulnerabilities of Ethereum. The weak point is hacks of decentralized networks. And this is the only disadvantage of this system.
The main drawbacks of the system are also:
- Unstable rate of the coin, which depends on the market fluctuations.
- Lack of popularity among large crypto investors.
- Decrease of Expanse mining efficiency. Mining this cryptocurrency requires equipment with high performance, which is quite expensive. Today, due to the lack of demand for Expanse and the high level of volatility, mining this coin does not bring good profits
Conclusion
The Expanse digital currency was designed to compete with existing decentralized networks, but it didn’t work out that way. Investors did not see anything promising in Expanse that would bring more profit than Ethereum. The system has remained a middling one, with transparent hopes for the future. And it is unlikely that new updates can change the situation in the near future and generate interest from large investors. As a result, the coin remains interesting only for miners and a narrow circle of users who occasionally pump Expanse.
