What is Pareto Network (PARETO)?
Future of PARETO Cryptocurrency and know how to buy PARETO

#1 – What is Pareto Network?

Pareto Network: The Basics

  1. Pareto Network is a platform which allows in users to post actionable and reliable financial information about digital currencies in return for Pareto tokens.
  2. It aims to increase investors’ knowledge about market inefficiencies and keep them up to date with the happenings around any given cryptocurrency.
  3. Content creators are rewarded for their efforts with Pareto Network’s native ERC20 tokens, PARETO based on the reliability of the intel they provide, and users are expected to pay tokens in order to access this information.

Pareto Network Development

  1. The Pareto Network website shows a team of 12 members, including the core management, advisors, analysts and others.
  2. The CEO and founder Eric Lamison-White is a cryptocurrency veteran, being involved in the crypto space since 2013. A former FDIC investigator, he has over 8 years of experience in software development and engineering management.
  3. Co-founder and CSOO Ted Lanpher is an entrepreneur and an experienced startup CEO, who has dabbled in varied fields including software apps, fintech, enterprise blockchain consulting and cybersecurity, among other things. Prior to Pareto, he worked at IBM Satellite Business Systems.
  4. Other members include Chief Economist Chiara Longo, who has 15 years of experience in the econometric modelling of commodities and currencies, Content Chief Chris Eberle who has over 2 decades of experience in digital marketing and content development, and others.
  5. Advisors include Ian Balina who has worked with IBM and Deloitte, Henok Tekle who has done IT Enterprise and Compliance work with Goldman Sachs, Deutsche Bank and Deloitte, Thor Technologies founder and CEO Brian Young and others.

 

#2 – What are the advantages of Pareto Network?

Pareto Network Technology

  1. Pareto Network distributes information which is meant to be useful to investors in making decisions regarding cryptocurrency and related digital assets.
  2. The information includes analyst reports covering new and existing tradable tokens and also returns on investment/mining, sector reports on storage, prediction, etc., technical trading reports and alerts, code vulnerability and security assessments, and much more.
  3. Content contributors could be anyone and have been added to the network in two phases. At first, Pareto recruited qualified contributors to start the flow of intel which was made available to users immediately. These initial contributors are compensated by Pareto tokens as the incentive for their efforts. Contributors then grew organically, incentivized by the platform’s reward system.
  4. Content contributors are required to pay a fee to make their intel available to users, in order to ensure that spam and other irrelevant info has no place on the platform.
  5. Pareto has a ranking algorithm to decide the order in which users would get the information provided by contributors, i.e., users with a higher rank receive content immediately while users with a lower rank face a delay. The ranking algorithm’s outcome is similar to a leaderboard and called a “waterfall”.
  6. To achieve a higher position in the Pareto ranking system, users are expected to reward the content contributors with PARETO tokens and be active in the network. Users who do not spend their tokens or appear to own tokens only for speculation have a lower rank in the network.
  7. The reward, or the cost of content is decided by the contributors (and vetoed by the network). If users pay the full cost in PARETO tokens as requested by a contributor, they move up the ladder appropriately and have more power. If they give a smaller reward than requested, they move up in rankings proportionately.

 

#3 – How to buy and store Pareto Network tokens (PARETO)?

How to buy PARETO

Pareto Network tokens (PARETO) are available for exchange on only four platforms as of July 2018, which include DDEX, Idex, ForkDelta and KuCoin for other cryptocurrencies. All these exchanges accept Ether in return for PARETO, and KuCoin additionally accepts Bitcoin as payment.

Unfortunately, there are no exchanges as yet which accept any fiat currencies in exchange for the PARETO tokens.

  1. These are just platforms where you can buy or sell PARETO tokens, but help is often needed to decide which one to buy from. This help is what CoinSwitch, one of the best cryptocurrency exchanges provides, by displaying the prices at the exchanges it’s sold in, all at one place. It supports more than 140 coins and 45,000 pairs of cryptocurrencies. You can choose any pair you want with your PARETO token, and CoinSwitch will help you decide the best one for you!
  2. What’s more - with CoinSwitch, you need not rely on wallets on the exchange you’re buying from. Instead, all transactions can happen to and from your very own private wallets.

PARETO Storage

  1. Pareto Network tokens (PARETO) being ERC20 tokens are capable of being stored in any of the numerous Ethereum wallets.
  2. Hardware wallets are recommended for use as they are the most secure. Ledger Nano S, as well as Trezor, are hardware wallets compatible with Ethereum and tokens on its blockchain.
  3. Exodus and Mist are desktop wallets which store ERC20 tokens. They are both compatible with Windows, Linux and Mac operating systems.
  4. Jaxx is a versatile Ethereum wallet which is compatible with Windows, Linux and Mac PCs, Android and iOS smartphones, as well as Chrome and Firefox extensions.
  5. MyEtherWallet is its most popular Web wallet, and ETHAdress is one of the paper wallets storing ERC20 tokens.

 

#4 – What is the future of Pareto Network?

Also Read: Complete Analysis of Pareto Network | Live Pareto Network (PARETO) Price Charts And Predictions

Market Cap and Global Acceptance

  1. The ICO for PARETO was held from December 2017 to January 2018, selling 40 % of their total supply of 500 million tokens and earning a sum of $ 10 million through it.
  2. The total supply of Pareto Network tokens is 500 million PARETO, which is distributed as follows:
    1. 40% of the tokens were sold in the crowdsale
    2. 30% was kept aside as a strategic reserve
    3. 18% of the tokens went to the Pareto Network Team
    4. 8% was given to the early content contributors
    5. The remaining 4% were distributed among ambassadors and advisors of the network.
  3. The circulating supply of Pareto Network tokens is about 253.15 million PARETO as of July 2018. It also has a market cap of about 2.94 million USD and a value of about $0.0116 USD per PARETO token.

Price History

Date

Open

High

Low

Close

Volume

Market Cap

Jul 28, 2018

0.01121

0.011876

0.01079

0.011143

78,879

28,37,830

Jul 01, 2018

0.015941

0.01662

0.015151

0.016123

1,52,068

39,34,380

Jun 01, 2018

0.038421

0.044879

0.033822

0.044838

1,69,143

94,04,030

May 01, 2018

0.086596

0.088634

0.07423

0.083805

5,07,092

2,10,52,400

Apr 01, 2018

0.017907

0.018858

0.01444

0.017018

18,669

38,43,260

Mar 01, 2018

0.056828

0.060341

0.053704

0.054079

1,13,838

1,20,74,500

Feb 02, 2018

0.049522

0.073814

0.044729

0.05108

90,088

-

Trends so far

  1. The value of the PARETO token has not changed too much in the few months after its launch, with a maximum value of about $ 0.099 per token in mid-February 2018 and a minimum of about $ 0.011 in July 2018. At the time of its launch in the beginning of February 2018, it cost about 0.051 USD per PARETO token.
  2. The extremely low individual price of the PARETO token has caused it to have a low market cap and hence a very low ranking among cryptocurrencies worldwide, despite its moderately high circulating supply. Pareto Network holds a rank of 697 in global market cap rankings as of July 2018.
  3. Pareto Network’s rank among global cryptocurrencies is certainly discouraging, but the idea and implementation of a platform which gives reliable information about cryptocurrencies and related digital assets are invaluable in the crypto world in the current situation (as of July 2018). The currency seems to have a slow pick up, but it shows a promising future.

 

#5 – What makes Pareto Network different from other cryptocurrencies?

  1. Rather than conventional uses like a currency for transactions or identity verification, Pareto presents an altogether different use, which facilitates investment in other cryptocurrencies by elevating people’s knowledge of them.
  2. Moreover, the Pareto platform discourages its users from investing in PARETO tokens just in the hopes that its value may increase or for the sake of speculation. Instead, they claim that the tokens are only as valuable as the information itself, which makes the cryptocurrency stand out among its counterparts.

 

#6 – Should you invest in PARETO?

  1. Pareto Network’s low position in global market cap rankings is quite discouraging to investors, but it’s not indicative of the platform or its token’s immense potential and promise.
  2. In a world where information is power and money is a necessity, information about money has more value than anything else.
  3. Cryptocurrencies are known to be extremely volatile, and anything reliable which sheds light on the trends of these digital assets is sure to increase in demand in the future.
  4. Investing in PARETO tokens is as good as investing in the information the platform provides according to the team behind the platform, which makes it a good investment option in the short as well as long term.
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