Occasioned by the increasing adoption of cryptocurrencies, the virtual asset sphere has continued to go global. With the consistent expansion rocking the industry, more crypto projects are emerging. Today, the crypto industry has cemented its place as one of the leading industries across the globe. According to findings, there are over hundreds of crypto protocols, each possessing native crypto. Apart from serving as an investment instrument, investors adopt native tokens of these protocols to pay transaction fees incurred for using the platforms and, in most cases, to enjoy governance rights. For instance, Conun crypto, for instance is the native crypto of the Conun protocol, serving as an instrument through which users of the network pay fees for using the network.
Generally, the crypto space, despite its prospects is highly volatile, thereby mandating investors to be on their toes. However, despite the market volatility associated with the sphere, its level of popularity and adoption still grows daily. As of today, investors explore cryptocurrencies in almost all the countries of the world. Although, the method by which investors explore these assets differs and is determined by their respective priorities. Irrespective of how investors harness cryptocurrencies, their most popular function is to serve as a medium of payment and investment. Just like other forms of cryptocurrencies, the Conun crypto remains one of the available crypto assets available for investors to explore within the sphere. With this article, new and existing investors will learn about the rudiments of Conun, its background, and its potential.
Conun crypto: A general overview
Just like other cryptocurrencies, conun crypto (CON) runs as the native token of Conun protocol, distributed computing network. Built on the Ethereum blockchain, Conun crypto serves as the major means of payment on the protocol. Additionally, the crypto offers robust value to the protocol. With the crypto, requesters on the protocol are able to obtain computing resources using CON. Meanwhile, suppliers of the computing resources earn the Conun crypto for availing their computing resources to the requesters. Furthermore, users of the protocol harness the Conun crypto to facilitate on-chain operations within the network.
Notably, the native protocol of Conun crypto runs as a blockchain-based service platform. As designed, it consistently avails computing resources to its scores of users. According to its whitepaper, Conun protocol emanated owing to the increasing demand for huge computing resources by firms and individuals. According to its website, the protocol posseses “computing nodes that control the CPU, GPU, memory and storage of personal computing devices.”
More so, the whitepaper of Conun revealed that the protocol plans to “create a horizontally distributed computing system to help users manage projects that demand high-performance computing resources.” As revealed, the protocol aims to combine the computing resources of phones on the network. Notably, Conun runs by linking a personal computer with a “peer-to-peer network.” This, thus paves the way for computing resources to be distributed seamlessly.
For instance, when a requestor needs a computing resource, Conun provides a link through which he gets the supplier. Conun, according to the whitepaper “wishes to execute complex applications like scientific calculations and machine learning in less computing time.” Conun usually explores decentralized apps in identifying “data-intensive applications and less costly computing processes.” This, as reported, helps to ensure a consistent sharing of computing resources.
According to its website, the protocol remains a “super-computing platform and horizontal revenue ecosystem on a private blockchain.” It says the protocol aims to unveil a crypto exchange as part of its efforts towards contributing value. Additionally, the protocol plans to offer a reliable, speedy, and cost effective blockchain services.
Worth noting that Conun posseses a native crypto wallet, Metacon. This wallet allows users to secure exclusive access to the products available in Conun’s ecosystem. As designed, Metacon acts as the “mediator,” connecting users to applications dwelling on its ecosystem. Additionally, it allows users to seamlessly swap and transfer cryptocurrency.
According to Conun’s website, “any transactions made on METACON will be peer-to-peer without an intermediator.” Furthermore, Metacon allows details of every transaction to be “transparent to the public.” As programmed, Metacon integrates with Ethereum wallets easily.
Worth noting that Conun posseses a mechanism, called Drive. Conun drive, according to the website, works as a “unique desktop platform that connects and allows users to share digital assets worldwide.” More so, the drive helps to store “data separately instead of storing all data on one centralized server.” This thus means it runs as a decentralized data distribution mechanism.
One of the prominent features of the ecosystem of Conun crypto is that its uses CPU, GPU, and storage share between network providers. This is made possible because it’s based on desktop grid computing technology. Therefore, this feature makes it possible for the ecosystem to offer high-performance computing resources to its users all over the globe. Through the Conun crypto ecosystem, users can now access cheap high-performance computing services.
It’s imperative to note that CON is the actual name of the native coin of the Conun network’s ecosystem. However, in the cryptocurrency space, it’s prominently referred to Conun crypto. As the native currency of its ecosystem, users of the platform use the crypto as a means of payment within the platform. Through Conun crypto, users of the network can lease computing resources. Also, Conun crypto supports users to carry out on-chain actions. Overall, the crypto is created to add value to the distributed computing network.
The crypto has a characteristic that is highly worthy of emulation. The whitepaper of the project sets aside about 5% of the coin generated to push for the popularity of Conun crypto. This implies that the more Conun crypto grows in value, the more the efforts to popularize the project gets more financial backing. Consequently, this feature makes the crypto distinctive among its peers. More projects are gradually following suit to emulate the model of finance for their initiatives.
Popularity within the crypto space
According to Coinmarketcap, Conun crypto is ranked 359 on the list of cryptocurrency. This ranking illustrates how the project is way behind in terms of prominence and popularity. Obviously, the low popularity can be attributed to the weak utility level of Conun crypto. Similarly, the Conun system is still growing, which is very understandable why Conun crypto is struggling for prominence.
However, tech enthusiasts still use some advanced workstation computers to surf the internet, and perform basic tasks. Therefore, making the larger part of the computing resources become idle and unused. Conun networking work aims to tackle this issue by using idle resources to at high-performance computing services at a cheap price. Despite offering such lucrative opportunities, the network hasn’t attracted enormous attention. This is due to the refusal of users to embrace Conun solutions properly.
Meanwhile, there are plans by the Conun team to dive into other forms of business. As revealed, the team indicates that its long-term goal is to establish and run a cryptocurrency exchange. This business distraction could possibly hinder the growth of the project. Currently, the market cap of the crypto is at $52 million, which implies it hasn’t attracted much investment attention.
Considering the extreme attention that establishing a cryptocurrency exchange would take as well as financial restrictions. Conun crypto might become a shortfall of attention from the Conun team. So this causes the growth of the project to remain stagnant due to a lack of adequate funding. Furthermore, setting aside 5% of the value of Conun crypto to promote it also has its wrong sides. There are indications that Conun crypto is short of adequate funding and it relies on an influx of investment to strive. Unfortunately, it’s not getting the expected investment at the moment and could spell doom for Conun crypto.
Utility and use cases are other significant issues for Conun crypto. For now, it’s limited to usage on the platform thing might change soon with the launching of other projects the team intends to roll out. Without that, the crypto will likely continue to struggle for relevance and popularity among its peers in the cryptocurrency space. Further, it Is imperative that the team continue to forge ahead in its quest to intensify liquidity for the project.
The Future Of the Project
Though this might look tricky in regards to the future of Conun crypto at the moment. Nevertheless, the future remains bright for the token. Meanwhile, the future in question is subjected to the Conun team are the ability to achieve a more significant part of their plans. If they do, the crypto will grow remarkably and yield good returns for investors. So it’s safe to say that the future of Conun crypto seems subjected to possible achievement of other proposed projects in the Conun ecosystem.
Nonetheless, the solution the Conun system offers could prove decisive for the token. At the same time, it looks highly unattainable for Conun crypto to dispatch well-established projects like BTC and ETH. The project has a huge opportunity to find its feet on a good ground in the market if its ecosystem flourishes.
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