What is GIN coin?
By: Crypto Unveil
Tags: Crypto, Node For Begginners, Cryptocurrency, Crypto Interviews, Bitcoin

Today, I have interviewed the GIN team to learn a bit more about their coin and future projects. GIN aims to provide cryptocurrency investors with an easy way of creating and deploying their own masternode(s) — regardless of their technical abilities. A masternode is a computer (server) with a publicly available IP address. A Masternode is simply a cryptocurrency full node or computer wallet that keeps in real-time the full copy of the blockchain. Masternodes are active members in a coin’s transaction network that meet certain criteria, the most important of which is a set amount of collateral capital locked in a dedicated wallet (More info at GIN WP).

1) What problem are you solving and what are the main pillars of GIN that differentiate you from your competitors?

In a nutshell, GIN is making MasterNode deployments easy and accessible to anyone and everyone interested in crypto. 30 days ago, when we launched our platform, we had no direct competitor. In the meantime, a few have appeared.

2) What value are you adding to your industry value chain and which are the main obstacles to the success of your token and platform?

We’re helping increase the adoption of MasterNode-ready coins. This in turn should diversify the opportunities available to crypto investors and, because all our coins are community vetted, clean up the crypto space a bit.

We do not endorse or support coins that are bent on scamming people, so we try to keep our list as clean as possible. Just this weekend we removed one such coin.

3) What value does the coin deliver to the customer/ ecosystem?

The GIN currency is the utility currency of the GIN Platform. Payments for services like hosting now and masternode shares in the future will be done in GIN.

4) How does your coin function within the platform and why is it needed? How did you decide the total supply and distribution among stakeholders?

Ultimately the GIN platform will evolve in a network of different blockchains’ masternode holders. As Naval said: https://twitter.com/naval/status/877470634678247424

(more information available here: https://medium.com/the-naked-founder/naval-ravikants-36-tweets-on-cryptocurrencies-f9b2b64106c1 )

Ultimately, the utility of the coin will be to ensure secondary market liquidity for masternode shares without disbanding shared MNs.

Deciding the total supply and distribution was… well, it wasn’t easy. We looked to a model that steadily produces new coins with decreasing speed allowing for both adoption and value appreciation as adoption grows.

5) Where do you see the value of your coin in the medium to long term and the ultimate benefit for the token holders?

I guess the market will tell. Our mission is to create the tools that consume GIN to offer services. The value will be given by how much those tools are actually used.

We’re firstly product people, then a very small drop of finance people, so we plan to do what we do best (product) and let the price grow naturally.

6) Thinking about the future, what are your plans for the future? Are you afraid that the volatility of the cryptocurrency market might affect the economy of your project in any way?

Market volatility can and does obviously pose problems to our investors, but not directly to the project. We’re committed to build something useful and price changes should not hinder our end-game by too big a margin.

We think long term and these market crises tend to wear off and then slowly let new investors that are much more careful than the ones before them steadily grow back the market.

We have been around the crypto world for a while to see a few of these cycles and are fairly confident in the future prospects of what is one of the most innovative industry in the world right now.