In the growing market for cryptocurrency, new alternate coins, or “altcoins,” have trouble rising to the top. One new contender that hopes to overcome these obstacles is Sling, an online currency with a plan for success. Their six step plan for success aims to succinctly summarize their goals for investors and lay out the foundation for a successful cryptocurrency.
The first step was developing a novel open ledger to allow users to view transactions. “Block Explorer” uses a sorting system based on the top balances, network difficulty, and network hashrate to bring users the most important transactions on the network. Their next step is creating a secure method of communication between users of their currency, a process that is still currently underway. The purpose of this is to provide a useful service to current users and to grab the attention of internet consumers that could be potential Sling users. Their third step is writing and coding a website to be the center of all Sling news and operations. To act as an efficient hub, the website will link users to exchanges, show the current Sling price, and provide a look at Sling in social media.
The fourth and arguably most important step in the plan is developing the Sling market, Slingroad. The plan is for the market to be decentralized with no main servers and highly encrypted, in order to increase the currency’s cybersecurity. Escrow, the holding of money by a third party, will be done by two different parties in order to further increase cybersecurity. Finally, the service will be entirely peer-to-peer, which creates a more open-source environment and encourages participation from any user.
As part of the open-source goal, Sling is encouraging new users to create masternodes to assist in Sling transactions, with payments to each operator of a masternode on the network. To make the offer more appealing and easier to complete, Sling gives precise instructions on how to set up a masternode in their chart below.
The fifth step is refining and fixing the system wherever necessary. This process will be expedited by the open-source nature of Sling, which allows for users to make fixes and report bugs much more easily than other currencies. The sixth and final step of the plan is announcing Sling on the cryptocurrency market on May 11th, where prospective users will gain interest and invest in Sling.
Whether or not this new project will succeed depends entirely on the investments placed in the company by the community, and those depend on the efforts made by the creators of Sling and the quality of the service they provide. If Sling really comes out to be the coin that is promised in the plan listed previously, it could be a very fruitful currency, but if the coin falls short of the goals, it could be just another failed altcoin. You can see if you would like to support their coin by researching their project and considering investing. Just like social media and online gaming this is a community project, and it requires internet users like yourself to participate for it to be successful.
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