ICO Particl - The journey of Shadow Cash
I'm sure you've heard of the Shadow Project and their Shadow Cash
. Their plan was to create a completely decentralized and anonymized marketplace based on ShadowCash. The cryptocurrency had a bit of a communication debacle earlier this year when they announced that the development of their project would be discontinued and the Particl foundation would be created in its place.
They offered a way of getting in on the ground floor for the new Particl project that was basically a re-branding of Shadow but more professional and a little less dubious. However, the time period they posted wasn't too long and so a lot of people have been left hanging. It is now up to the community (with a little help from Particl) to allow the people who still hold Shadow Cash to graciously give them some of their bonus money or donations.
It turns out however, that the new Particl foundation has kept their promise so far. The first block was mined (or rather staked) a few days ago and the currency PART hit bittrex yesterday. The price is currently stable around $6-7 and the development team seems going well.
I only pity the schmuck who set the price of the first PART to 1BTC so that for the first 24 hours, the price loss is at more than 99%.
Considering that the initial price for the ICO was at around $2.50, I'm quite happy with the development and am looking forward to what's to come.
Every coin - or almost every coin - starts with 1 btc
That's good to know. Maybe, bittrex should consider changing the algorithm then because the cosmetics of "losing" 99% of value within the first 24h doesn't look great from the outside.
I don't think you can do anything about that. It's a free market and investors think that making the buy price high might boost the value of the token.
Great article!