SnowGem (XSG): A Crypto Diamond In the Rough, Now Legally Backed
One good thing about the ongoing crypto bear market is that several crypto projects which were originally not built to last have died a natural death. The previous bull market led to an influx of half baked crypto projects designed to raise funds and vanish eventually.
When it comes to finding out if a project is for real, being up to date with its road map and consistent updates are the two key factors to consider.
Going by this, one of the few crypto projects which have maintained the zeal it started with right from the launch to this moment is SnowGem (XSG).
Not only the project has done exceedingly well as regards to its overall technology, but also the project’s community has also grown into an active one with thousands of followers across several platforms.
Recently, the 51 percent attack on the Ethereum Classic Network raised several questions regarding the security level of a low capped crypto project like SnowGem. In response to this, the team behind the project swung into action and developed an anti 51% attack mechanism which it named—Thor‘s Hammer. With this in place, the network is protected from the 51% attack. Mind you, SnowGem was one of the few projects which put such measures in place. This is just another proof that the project’s team is a dedicated one, with a real vision and long term goal.
As getting listed on exchanges and masternodes, the SnowGem (XSG) outperforms most coins in its market cap range. So far, the project has been listed on top crypto exchanges such as:
These are top-ranking crypto exchanges in terms of trading volumes.
The SnowGem Foundation
One thing common with the most established crypto project is that they are almost always backed by a registered business entity with a license. To further prove that the SnowGem is the real deal and not an attempt to scam hard working people of their money. The project has been able to secure itself a license. As from now on, the project will operate under the name SnowGem Foundation. A legally registered entity based in the Czech Republic.
Nothing makes a business more legitimate than getting licensed by a country. This move by the project is in line with its vision of absolute transparency in the industry. It is, however, important to note that the SnowGem Network and its Blockchain will always remain independent and separated from the SnowGem Foundation. This is to ensure that the project remains decentralized like it originally set out to be.
Through the foundation, the project will be able to offer its products to individuals without fear of legal repercussions. The registration gives the project legal backing.
With the Foundation in place, SnowGem will be able to do the following:
- Develop and launch a SnowGem Credit Card, a payment system and fiat to crypto exchange, etc.
- Registered as a verified and official developer on Google Play and the App Store. This will also make it possible for the project to launch a multi-asset wallet on Android and IOS.
- The Foundation will make it easy for the coin to get listed on major exchanges globally.
- Through the foundation, the project will be able to hire a dedicated team and improve its workforce, thereby advance the technology quickly and easily.
The SnowGem (XSG) Masternode
SnowGem which officially launched its blockchain on the 25th December 2017 after 72 blocks had been timestamped is now the only Equihash coin that offers Masternode ownership. Masternode payment on the network was activated on15th April 2018.
Currently, there are 936 active masternodes on the network, with a Minimum time before first payment 40.56 hours. For those interested in learning more about how to set up the coins’ masternode, here is a well-detailed guide on how to go about it https://snowgem.org/resources/masternode-setup/masternode-windows-linux
The project also offers one of the best crypto mining plans you will find on the market right now. The SnowMine mining platform supports many popular coins and is always improving. Currently, miners can only control as well as get system statistics for there rigs via Telegram/Discord.
The SnowGem has proven itself to be a diamond in the rough.