Opal Coin, a coin which I had the chance to talk with the team behind it. With both Coins Source trust verification as well as Crypto Asians Proof Of Developer, Opal is a coin that first went through a X13 POW phase and is now in its POS stage, with 5% interest annually. Opal now is in the works of releasing their own market, where users can buy and sell goods as well as services for Opal.
1. What is Opal?
Opal is a cryptocurrency focused on security, anonymity, and usability. This has led the development team to integrate specialised technologies for the benefit of all Opal users. The centerpiece of the development teams achievements is Opacity, an encrypted messaging system that uses public key encryption of Opal addresses to secure communications.
2. What makes Opal different from other cryptocurrencies?
Opal caters to people of all skill levels, to operate its technologies without baffling those less familiar or restricting power users. It allows everyone to use it with a simple and elegant point-and-click system while offering extensive command line interfacing for those developing software around it. A good example of this is the beta release of Opal Marketplace.
Opal’s Proof of Stakes system encourages longer term investment, rather than the pump-and-dumps that plague your common or garden alt-coins. Along with the Opaque address system which allows users to obfuscate their private transactions through complicated mathematical computations, Opal continues to work tirelessly to stands out from the crowd of under-developed coin startups, by providing it’s community with regular updates, and transparency in it’s development process. Along with this, Opal is very open to community feedback and works to develop to the needs of its users.
3. How will the release of the market supplement Opal?
An issue with every alt-coin is that their existence and value is dependant on Bitcoin. We want to change this for Opal, we want to give it physical value, and by having a competitive marketplace where users decide Opal’s worth outside of the world of cryptocurrency exchanges.
Want to buy something? There’s no need to fuss around with exchanges, Ebay or PayPal and their excessive fees and charge-back risks, the Opal Marketplace enables the buying and selling of goods directly with Opal – securely and easily!
4. What can one do in the market?
Whether someone is looking for: music, programs, or software keys, or if one wants to earn Opal off of ones own intellectual property, the Opal Marketplace is the place to do that. The Marketplace is run by the same devs of Opal itself and is the safest and easiest way to go about making such transactions.
As a buyer, users are protected by internal systems that make sure all goods are ready to go when the users are, preventing overselling and other malicious activities. All files are also comprehensively scanned for virus and malware. Sellers who have not achieved trusted status will have their listings moderated before they are available for purchasing.
As a seller, you’re guaranteed payment. No charge backs are possible and the Opal is deposited within minutes of the buyer purchase. There are also tools available that allow sellers to set dynamic pricing for their products, so as to keep with any overheads they may have in producing the goods.
5. How is Opal in its current stage?
Opal is stable and secure. The devs are continually updating and adding to its plethora of features, making it such a unique and special coin. The team has an HTML based wallet in the works and the Marketplace is getting great reviews from the beta testers that are working with us.
The value is continuously increasing with each development push forward into the coin from a team of dedicated people working on it.
6. What can we expect in the future?
We have many projects in the works for Opal and new ideas are being debated everyday. Some have been publicised in our development roadmap, others remain confidential while we decide on the best path for Opal’s future as leader in digital: transactions, security, and stability.
As the anonymous file transfer project finishes it’s first stage of development, we expect to move the Marketplace into a more decentralised system, this will add further security and accountability to the Marketplace’s structure as well as strengthening Opal’s plethora of features.
We have ambitious plans for Opal’s future, and have no doubt that it will continue to grow as we do.
Photo Source: Opal Coin
For more information:
BTT Thread: https://bitcointalk.org/index.php?topic=778720.0