What is Crown (CRW)?
Future of CRW Cryptocurrency and know how to buy CRW

#1: Crown (CRW): The Basics

What is Crown?

  1. Crown was first launched as Crowncoin in the year 2014 as a European centric payment and investment vehicle. Bitcoin had consumed that market at that time. That’s why experts didn’t expect it to succeed.
  2. The team then realigned their vision and revamped the method of operation to build Crown not only as a leading digital token (known as CRW) but also a self-sustainable blockchain platform for building and running new economy applications.
  3. As a Bitcoin-based and inspired digital token Crown(CRW) can be used to pay for a wide variety of products and services. It can also be traded against other altcoins through various online exchanges.
  4. Crown Platform can be used as a payment service, for proof of data integrity and as a support structure for projects ranging from cloud businesses to various applications.
  5. The Crown blockchain platform uses several secure servers or incentivized nodes to provide scalability and fault-tolerance for new economy applications.
  6. The members of the Crown Community can establish their own incentivized nodes to earn CRW tokens while helping to maintain the network.
  7. The team behind Crown believes that it was built on two guiding principles that influence every aspect of how the platform is run: integrity and transparency. The network carries a vision to build a community of dedicated users with one unified motive of having a free and open-access decentralized sandbox economy powered by blockchain technology.

Crown Development

  1. The Crown network was founded by Filip Major and Jan Brody in mid-2014.
  2. The team comprises of Artem Brazhnikov as the lead developer and Chris Kabble as the test manager among several other developers, designers and advisors.
  3. The team at Crown works with 1229 Tron Masternodes, to design its concept according to the self-government concept, which guarantees development and independence.

 

#2: What are the benefits of Crown?

Crown Features

  1. The key features of the Crown network and coin are as follows:
    1. Fostering Innovation: A small fraction of each Crown block is added to the Crown Proposal System. This system is a pool of CRW tokens that community members can use to fund new businesses, applications, or projects to develop and grow the platform. To do so, one has to submit a proposal and convince enough community members to approve it post which the project will receive the funding and support it needs for success.
    2. Safety and Security: The Crown blockchain doubles up as a payment service along with a secure storage space for sensitive, immutable information. This feature can be used to provide maximal security for storing any private data or even keeping key internal assets safe yet accessible.
    3. Decentralization: The self-regulated economy built by Crown, empowers the community with stake to vote on prospective network changes, projects and community practices. Every member in the network who is running a Systemnode or Masternode, plays an integral part in how a major decision is implemented on the platform.
    4. Transparency: The Crown Platform employs various democratically elected agents who provide identification verification for its services. The network also has an open blockchain to ensure that the funds are not misused by any organization or individual.
    5. Legal Compliance: The Crown platform places utmost importance on compliance with legal regulations by providing the necessary infrastructure for legal contracts to take execute on the network. However, these are not the only type of transactions that can take place on the network.
    6. Self-funding: Crown’s Proposal System enables the network to support multiple applications, businesses and projects financially. These projects garner user support and can grow using the funds collected in the proposal system, thus fostering innovation and progress through community collaboration.
    7. Financial Benefits: Using incentivized nodes, the network can validate CRW transactions and host applications. A user can receive a portion of the block rewards for maintaining the network by setting up and operating one of these servers.
  2. Crown supports multiple operations like mining, trading and building applications.
    1. Mining: Crown can be mined through the traditional Proof-of-Work (PoW) algorithm. It is “merge mined” with bitcoin, which means it works on the Auxiliary Proof of Work (AuxPOW)[1] algorithm to establish a relationship between two blockchains. Here, it is a prerequisite for one chain to trust the other's work as its own and accept the AuxPOW blocks. By mining Crown, a user can help the network confirm transactions and assist in maintaining the Crown blockchain by solving complex mathematical puzzles. One can earn a portion of CRW tokens for each block of transactions that the machine processes.
    2. Trading: A user can trade Crown tokens against Bitcoin and other cryptocoins through multiple online exchanges that support the digital currency.
    3. Application Building: Enterprises and individuals can volunteer to build and operate new economy applications with the Crown platform. These applications are operated on highly secure and decentralized servers that provide both scalability and fault-tolerance.

Crown Technology

  1. The Crown Platform[2] employs highly secure servers called “nodes” for all their operations. These nodes are used to host user applications, facilitate CRW payments and provide cryptographic proof of data integrity.
  2. Nodes are dedicated servers that connect to a blockchain network and help grow by hosting applications, validating cryptocurrency transactions and enabling the blockchain to act as an instant payment service.
  3. Due to numerous continuously growing nodes on a platform, it becomes very difficult to manage application platforms like Crown. One of the most vital roles of a node is to provide peerless security.
  4. A user can help the community grow by creating and running one of these servers, while consistently earning Crown(CRW) tokens as a reward.
  5. The Crown infrastructure uses two primary types of nodes to build and protect its network viz. Systemnodes and Masternodes. Each of these dedicated servers are built in a unique way and perform vital operations.
  6. Crown Masternodes are specially designed servers that provide continuous security services and additional functionality to the network. They supply substantial computing power to the Crown Platform, and store copies of the ledger. These copies can be distributed to the network if required. Masternodes essentially stabilize the Crown network by keeping it secure and efficient. The masternodes do so by tracking the ledger and confirming transactions at lightning speed with “InstantX,” an extremely fast form of transaction. A Masternode requires 10,000 CRW collateral to run.
  7. Once can host the CRW masternodes on a PC uninterrupted internet connection with 512 MB of RAM and 20 GB of hard disk.
  8. Crown Systemnodes are empty-shell servers that perform the task of hosting specific services for the Crown network except transaction verification. The Crown Platform uses these Systemnodes to host new economy applications created by community-members. They are also used for connecting the applications to the Crown Platform through an API (application program interface).
  9. Systemnodes differ from masternodes in the way that they are highly flexible and act as an interface between users and the blockchain. A Systemnode typically requires 500 CRW collateral to run.
  10. To host Systemnodes, one requires significantly less CRW tokens than for Masternodes, thus, making them easier and less expensive to set up. Like masternodes, a systemnode can be easily hosted on any computer with an uninterrupted internet connection with 512 MB of RAM and 20 GB of hard disk space.
  11. Crown systemnodes provide a stable platform for various application services created by blockchain users. Members of the community can use these servers to host any legal economy application. Crown masternodes, on the other hand power InstantX. This feature allows Crown users to instantly send or receive CRW when transacting with others. Both Crown nodes work together to help verify all CRW transactions. This collaborative approach ensures the networks’ security even if a node operator attempts to manipulate it.

 

#3: How to buy & store Crown coins?

How to buy Crown coins?

  1. Crown coins can be bought in exchange of other cryptocoins like Bitcoin and Ethereum on a wide range of cryptocurrency exchanges like KuCoin, and Bittrex.
  2. CoinSwitch is the largest cryptocurrency conversion platform and aggregator which compares and gets you the best offers and rates from over 45,000+ pairs and 300+ cryptocurrencies. Transactions are private and guarantee high security.

How to store CRW?

  1. While the CRW coin can be stored on several wallets like MyEtherWallet, Blockchain and Coinbase, there are special CRW wallets that allow a user to store the coins in.
  2. Crown offers the wallets to be created as desktop, mobile or paper wallets across various operating systems.
  3. You can also backup the Crown wallet[3] to protect the owned CRW from theft, computer failure or system migration. These wallets also facilitate encryption that locks a user’s wallet to prevent any of the tokens from being spent without his/her permission.

#4: What is the future of Crown coins?

Also Read: Complete Analysis of Crown | Live Crown (CRW) Price Charts And Predictions

Month

Open

High

Low

Close

Volume

Market Cap

July 2018

$0.358728

$0.453579

$0.323587

$0.426853

184,694

6,955,070

June 2018

$0.515959

$0.660142

$0.477036

$0.503352

49,584

9,789,850

May 2018

$0.908309

$0.916719

$0.876610

$0.897553

17,275

16,856,100

April 2018

$1.50

$1.58

$1.50

$1.55

28,886

27,230,300

Future Trends

  1. Investment researchers and market players like Walletinvestor.com predict steady growth in the value and performance of the Crown token.
  2. If a user buys Crown worth 100 US dollars in July 2018 at the price of $0.399, they will be an owner of 250.579 CRW coins. Due to the predicted long term increase, price prognosis for July 2023 stands at 3.875 US Dollars.
  3. Hence, with a 5-year investment, the revenue is expected to increase by 870.9% approximately.

 

#5: How is Crown different from other cryptos?

  1. The Crown developers believe that the current blend of fundamentals running the Crown network is unique. The fact that Crown is an incentive-paying service network and has a direct relationship with the Bitcoin blockchain itself through merge mining, sets Crown apart from many other cryptocoins.
  2. The merge mining supported by Crown uses a feature called AuxPow (Auxillary Proof of Work) which enables a healthy relationship between two blockchains. This ensures that the Crown network can be secured and also, benefit from the vast mining infrastructure investment that Bitcoin has enjoyed. Miners on the other hand, can use this to mine Bitcoin and Crown at the same time at no increased mining costs.

 

#6: Should you invest in Crown tokens?

  1. As of July 2018, Crown coins[4] tokens have a total supply of 42 million coins, of which 19,404,091 coins are already in circulation.
  2. Multiple market analysts and enthusiasts believe that the CRW token will see an increase in the price along with an improved performance in the next 1 year till 2019.
  3. WalletInvestor pitches the CRW token as a good investment for the next year and expects that the Crown price can go up from the current price of 0.399 USD in July 2018 to 1.391 USD in the next 12 months.
  4. Moreover, the medium and long-term roadmaps of Crown aim to make it the first project to achieve universal mass appeal and usability of the blockchain technology.
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