Introduction
Let's go to continue this blog with other project. First of all, for who missed previous entry, what's a cryptomoney? To be fast and concise, it is a digital medium of exchange. And the next question would be... What's your use? It is also easy to guarantee the security, integrity and balance of your financial statements by means of a network of agents (segmented file transfer or multisource file transfer) that verify (untrust) each other called miners, which are, for the most part, general public and actively protect the network (the web) by maintaining a high rate of algorithm processing, in order to have the opportunity to receive a small tip, which is distributed randomly.
Today there are thousands of coins on the market, already in operation, such as Bitcoin, Ethereum, Ripple, etc., but there are many thousands more that are about to leave. The former are called cryptocurrencies and can be purchased on many websites such as Coinbase, Localbitcoins, Kraken, etc. The others are the so-called ICO's (Initial Coin Offering), which can be obtained with significant discounts and price runs through small contracts and transfers through Ethereum. But there exist others those that have just been born, which are not even in the ICO phase, which launch campaigns to attract the public attention, these are the Airdrops. With this, we can get thousands of coins for free. I emphasize these because it's a way to win cryptocoins even if the market is as it is. Through this way you never lose money.
However, not all of them are worth it. We have to read well what each project is dedicated to, what is its whitepaper, its qualified advisors, etc. As we all know, blockchain technology has gained popularity due to the hype about cryptocurrencies which has shaken many startups to launch their own cryptocurrencies even without convincing fundamentals. This trend has emerged because new entrants have been more agile in adopting emerging technologies compared to incumbents who are hampered by legacy systems. However, this competitiveness and this advantage enjoyed by the new players may be short-lived, as no economies of scale are taken into account. For this reason, that is why I choose the best of them through an exhaustive study of the main characteristics.
Today, the project I am going to present you is the GN Compass, a peer-to-peer lending platform for Cryptocurrency-Backed loans.
Today, the project I am going to present you is the GN Compass, a peer-to-peer lending platform for Cryptocurrency-Backed loans.
Presentation
Definition
As I said before, GN Compass (https://www.gncompass.com/) is a peer-to-peer lending platform for Cryptocurrency-Backed loans capable of solving both lenders and borrowers problems. It is created to obtain constant liquidity in the loan market by allowing lenders to sell portions of loansor or all of their protfolios, while borrowers can acces funds in a fraction of the time compared to banks and can pay lower interest rates.
How it works
The platform consists of two parts: one for inverstors and another for borrowers.
In the first one, inverstors should sign up and create their profile and investment portafolio in order to be able to make an investement. In the same page, they will input the amount they are looking to invest and the interest rate they are looking for before make the investment. Once the profile is complete, the investor will be required to add their banking information to secure payment system. Then, the investment will be sent to a loan pool to fund loans and once being repaid, the GNCT backing the loans will be adjusted accordingly.
Into the borrowers one, the first step is the same, sign up and create a profile. Once completed, a risk assessment will be done and borrower will receive a risk rating. Approved borrowers will fill out a loan application that will ask how much they want to borrow and like inverstors page, loan requests will be sent to a pool of other loan requests with the same credit rating.
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| How GN Compass platform works |
Features and advantages
Advisors
Airdrop
Going into a little more detail about the airdrop, the project gives the opportunity to earn GN Compass tokens (GNCT) performing some social media tasks and doing simple steps from the bounty program explained into Bitcointalk webpage. Here (https://bitcointalk.org/index.php?topic=2708667.0) you can access to the link in order to see what are the conditions to become an early GN Compass contributor and start acquiring tokens. They send your earn tokens within two weeks.
Doesn't that sound interesting? If you are, you can read their whitepaper here (https://www.gncompass.com/wp-content/uploads/2018/01/GN-Compass-whitepaper.pdf) and you can also stay tuned in their official Telegram group (https://t.me/joinchat/HCRV1gzp81kwL3OwkHttJw). I hope you liked the post and soon I'll send you new ones.
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| Steps during Airdrop phase |
Extra details
Bitcointalk username: adriaparcerisas
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1870482
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