Cryptocurrency Vault - What is going on with VeChain (VEN) & Achain (ACT)?
by cryptomagic
https://steemit.com/cryptocurrency/@cryptomagic/cryptocurrency-vault-what-is-going-on-with-vechain-ven-and-achain-act....Achain (ACT)
I already gave a very brief introduction to Achain just over a week ago HERE, so I'm going to move on from first impressions and cut to exactly how I'm seeing this product as it stands today. I will consider making up a specific post to share the due diligence I've collected at a later time, but for now, let's get into what I think the opportunity is.
First things first, there are what I feel are two considerable risks with Achain.
I can't secure it on a hardware wallet, so has to be paper wallet for max security (meh, had a few of those thrown in the bin by accident already)
Although everything points to it being well established, adopted and far from a lemon (something of no actual value), it is just very difficult to find the types of information you would normally like to see to get truly comfortable with it. (That is probably why it's currently so undervalued). GitHub doesn't have an awful lot going on, but I'm aware that it's possible to have other repositories outside of this.
I won't mince words, I think Achain offers similar products as NEO, ARK, Ethereum, Qtum, ICON and any other platform doing the rounds right now and it looks like a very convincing contender. One of the main differences however is that Achain is actively encouraging Hard Forks and although Asia seems to know a lot about it, us in the west are just waking up asking "what the hell is this and where did it come from?".
It trades at the time of writing for $0.45 with 300 million ACT in circulation and has a maximum supply of 1 billion. That gives it a market capitalisation of just $136,924,200 which I think is pennies for a crypto platform that is working product and does what most do in the billionaires club!
It runs the same transactions per second (TPS) as Neo and has more dApps than any competitor apart from Ethereum. It also facilitates side chains to avoid congestion on the main chain (I bet Vitalik is kicking himself he didn't think of that one...)
If you hold ACT, you will receive forked currency each time the platform is used to create a new chain and currency. I tried my very best to find out if you would earn passive compound interest for holding ACT outside of the fork bonus, but unfortunately came up relatively blank.
It looks like the RDPOS mechanism puts the validation onto the creator and user of the side chain rather than allowing the main chain to become bloated with transactions (similar to how Ark plans to put their VM on side chains for the very same reasons), so there is no fee for running a node to be had. (I will continue looking into this though as I'm really unclear on how RDPOS works).
If correct, what that means is that the benefit to holding ACT is that you will get random drops of forked cryptocurrencies along with the potential price upside if it happened to gain wider attention and adoption in the west.
For all I see, it is basically a hybrid that fits somewhere between Ark and Neo and appears to be doing everything it should except for climb in price and ultimately market capitalisation.
I particularly like one of the Achain partners Pundi X. Definitely check out what they are doing HERE. Kcash, another partner also doesn't look too bad!
As you'll see from the 8hr ACT/BTC chart below, the recent ABTC hard fork airdrop to holders of Achain encouraged some serious buying action to claim the coins, then a dramatic selloff afterwards. Personally the selloff is perfect because I was completely unprepared for this beforehand. In the short-term, this might be ok to flip occasionally, but longer-term it looks like a really strong product you can get a decent stake in now, and that will continue to keep giving after each fork.
At $0.45, I'm seeing a lot of potential upside, so I think this is one that has been badly misunderstood, underrated and undervalued by the western markets it's now penetrating into. There is another review of it HERE that gives an overview and assesses the potential upside.
