Cryptocurrency review 3: SHIELD
Welcome everyone to crypto review.
Here you can read about various cryptocurrencies, learn about them in depth. What they're trying to do, team, development etc.
The purpose of this post is to help every crypto enthusiast with investing.
Today we will be reviewing "SHIELD" , we will take a look at what they aim to do, team behind it, roadmap, general crypto info etc.
General Cryptocurrency information:
Name: SHIELD (XSH)
Metrics (Block size, algorithm, fork, supply etc.):
Fork: Verge (XVG) (They're moving to BTC Core 0.16)
Algorithm: Multi-Algorithm
PoW/PoS: Multi-Algo PoW (Moving to PoS soon)
(Algorithms: Scrypto, 17x, Groestl, Blake2s, Lyra2rev2)
Block time: 45 seconds
Transaction confirmations:
Masternodes: 200,000 per masternode
Transaction fee: 0.05 XSH/kB
Market cap: Market Cap: $15,796,246 USD (at the moment of writing this post)
Circulation Supply: 512,973,375 XSH
Total Supply: 660,000,000 XSH
Daily volume (as of now): $14,624 USD
30 Day avg. volume: $1,391,685 USD
Rank on Coinmarketcap: #399 (as the moment of writing this post)
All time high: $03878 USD | 2445 Satoshis
Vision/Problem it solves:
The SHIELD currency is aiming to provide its users with fast, secure, and anonymous transactions. With implementations such as: Masternodes, Proof of Stake, RSK Smart Contracts, Sharding, and Quantum resistance protocols. What they have on their Roadmap is very intriguing. "Social Media Integration" basically means that for example if I want to tip a cryptocurrency Youtuber like DataDash, we (me and DataDash) can install Shield extensions in our browsers, and I will be able to tip him with just a click. Which is what ReddCoin is also doing, it's pretty interesting.
They also have Masternodes coming up, anonymity upgrade and so on. The 'Shield Marketplace' seems too vague. Every cryptocurrency today is developing a "marketplace" where you can buy stuff with their currency, and so I don't give any value to this part, even if my favorite cryptocurrency did it. It has no value to me, because everyone is doing it and it's nothing special.
Moving from PoW to PoS is really good. It's more environment friendly and everyone can stake, which increases the security of the network.
Smart Contracts, Sharding and Quantum proof would be a bit far stretched to discuss it now. They're all good, but that's more long term.
What's Project Integrate?
Project Integrate aims to provide extensions/bots for the users, which can be used to transfer cryptocurrency (in this case SHIELD XSH) on multiple platforms, such as: Facebook, Youtube, Twitter, Discord etc.
Although another project exists which already has a working product (not really, since it's with commands), I think if Shield can get it down first (easy UI/UX, 1 click option to easily send crypto without typing commands) then SHIELD will be the first one to do it, and it will benefit the project a lot.
How does it work?
You will install a plug-in/extension which will be linked to your account, for example Facebook or Youtube. That way, you can tip Youtube creators, or send SHIELD easily to one of your friends as a gift.
It's pretty easy.
What's Project Perdu:
Project Perdu aims to make SHIELD currency more private, with using various technologies.
SHIELD claims that it's more anonymous than a lot of the cryptocurrencies that exist today (if it's true, then they're way ahead of the game) but they are always trying to make it more anonymous and safe.
How does it work?
In their Medium Post, it says they still don't know how they will make it more secure. So, that puts it into question. If they don't know, we don't know it yet.
But I'm sure to this date, they have figured out something.
What's Project Boo?
Project Boo aims to integrate PoS (Proof of Stake) into the SHIELD currency.
There's no explanation needed for this, I think.
What's Project Smart?
Project Smart as you might already have guessed from the name's 2nd part, is about Smart Contracts being implemented into the SHIELD currency.
What's Project Sharding?
Project Sharding, again aims to integrate Sharding into the SHIELD currency. Which was presented as a scalability solution to Ethereum. Sharding will help with scalability, which is a big problem today for both Ethereum and Bitcoin.
How does it work?
"Sharding is a method of splitting and storing a single logical dataset in multiple databases."
(Alright, alright. Enough with the "Project..."-s, even I'm a bit tired :D)
Partnerships:
LINE (WhatsApp Japan Version Not partnership, they used LINE API)
UniMining (Mining pool)
QPool (Mining pool)
PowerMining (Mining pool)
WhopperCrypto (Provides Cold Storage Cards)
Social Media:
Their Twitter account is very active, they also 're-branded' their Reddit, looks pretty nice. Their activity is very, and I mean very big. Their Twitter has multiple if not 1 Tweet a day. They're also very active on Discord and Telegram, also they post good in depth posts on Medium.
Team:
Only their developer team consists of more than dozen members. They also have Japanese based team. They're very friendly and also answer your questions fast. Overall, it has a very strong Team.
Product:
Oh boy :D They have a lot of "Projects", but at the end it boils down to RSK Smart Contracts, PoS, Masternodes, Quantum Proofing and Sharding.
What I didn't mention is that, they have an Android wallet, and IOS is coming up. Their plug-in/extensions are also coming up, and I'm excited for it. Would be nice if I could quickly send my crypto over to my uncle in my home country.
Exchanges:
You can trade other cryptocurrencies for SHIELD on the following exchanges:
StocksExchange (Shady Exchange, not recommended)
Rating:
Total 10/10 (2 each)
Product 2/2
They're trying to make everything better. They don't need Smart Contracts, Sharding would be a better example. Because it doesn't have any problems with scalability. It's also very anonymous, and they're also working on making it more anonymous. This tells me, that the team is very dedicated to this product and is trying to implement everything best from each world.
Team 2/2
I give the team 2/2, because it consists of dozens of people from all around the world. They also work very hard to develop what they have on their Roadmap. Good communication, activity, marketing etc.
Social Media 2/2
They write a lot of Medium posts, are active on Twitter, Discord Telegram. Overall, good activity on the Social Media side.
Partnerships 0.5/2
Not a lot of partnerships tbh. Maybe they could have partnered with marketplaces, 3rd party exchanges, wallet providers etc. That would boost this project.
They did use LINE's API (Japanese WhatsApp), not a partnership but these kinds of moves will help this project grow. More of that SHIELD!
Exchanges 1/2
I'm giving 1 because they're listed on many exchanges, but they're not that high volume or quality. If it were on Kucoin as well (you guys know how much I love Kucoin) then that would definitely be 1.5/2! 2/2 if it's on Binance or Bittrex :D (Let's not float away too much now)
Total: 7.5/10
If you liked my review, please give it a thumbs up and drop a follow! Also, comment down below what you think about SHIELD, their vision, team. Are you invested in it?
Have a great day everyone!