What is GlobalToken? In-depth look at GLT
GlobalToken (GLT) was added to coinmarketcap.com on the 20th of June and immediately thereafter saw its price soar from $0.00132 to $0.02902 (2098% increase) in the matter of days. Currently it is finding its grounds again and is floating at a steady $0.008757 region. So what makes this coin so special? Why is it so interesting? These are some of the questions this post aims to look at in a bit more detail.
GlobalToken is PoW
GlobalToken is a PoW coin, (Proof of work) which means that the coin can be mined. This makes the coin particularly interesting for anyone speculating on its price more long term and whether or not to dedicate their hashing power towards it (another separate post will cover mining on GlobalToken in more detail).
GlobalToken Coin Supply
The total GLT supply will be 168,000,000 coins. From past trends, we can deduct that this gives the coin the potential to be worth tens of dollars in the future – its exact price however is of course not only dependent on its supply, but also on other factors such as; consumer confidence, mining adoption and investor confidence. All these are in turn are dependent on the prospects of the coin, which also is further impacted by the trust in the development team behind and their long term vision of the coin.
Their Vision and Value Proposition
The developers behind the coin emphasise speed of transaction and low fees. They pride themselves on being ten times faster than Bitcoin – although in all fairness, that is not a huge feet any longer, as Bitcoin is struggling with its transaction times as the blockchains grow more complex. Having said that though, its simplicity may well work in its favour long term, as merchants look to incorporate more cryptocurrencies into their payment options. What is most important to merchants are exactly two things: the speed at which the coins are transferred and the fees for transferring the coins. The lower both of these are, the better it is for merchants – especially physical brick-and-mortar merchants who need customer transactions processed as fast as possible and as cheap as possible.
The Development Team
I do say development team, but the wider team is just as important. However, their website currently provides very limited information on the team, which makes it difficult to evaluate the expected performance long term. I do wish that there was more transparency on this from their side – but they still have time to make up for this as the coin is still rather young. They may very well be protecting their every day careers as I doubt that they are working fulltime on the coin yet. Privacy may therefore be their way of protecting their real-world careers and jobs. I expect that if the project ever becomes a fulltime job for them, that they may be more open regarding who the team really is behind the project.
What we do know at this stage however is that there are two dedicated programmers on the project with extensive experience in programming – which is of course a necessity for building the project out. Judging from the bitcointalk posts they have made since launching the coin in late 2016, they also do appear to be releasing regular updates for the coin and appear to be genuinely enthusiastic about their project.
Besides this there are also the creator, a social media manager and a webdesigner and community manager connected to the project.
GlobalTokens Long Term Roadmap
Their website indicate that a roadmap is in the works or already planned out – this will be shared with the public on the 3rd of July 2017. This should give more confidence in the project for investors and miners alike and hopefully should position it to become more interesting for a wider network of exchange sites.
Where can I buy and sell GlobalToken coins?
The coin is currently available on two exchange sites, although only one of them appear to have any worthwhile volume. I strongly recommend if you are interesting in trading the coin, to stick to CoinExchange.
Where can I follow the value of GlobalToken?
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