• Market Cap
    $397.207B -0.15%
  • POW Market Cap
    $308.161B -3.04%
  • POS Market Cap
    $19.091B -2.01%
  • Masternodes Market Cap
    $1.185B 0.32%

The turnkey MasterNode coin. GIN review.

By Rafał - 2018-10-14

GIN is an open-source decentralized digital currency which aims at delivering secure decentralized financial solutions and making masternode investing experience easy and hazzle-free while enabling them to solve real world problems.

Coin Specs

Ticker:GIN
Algorithm:X16RT
Block time:120 sec
Max supply:10 500 000
Premine:420 000 (4%)
Masternode collateral:1000
GIN Coin emission schedule
GIN Coin emission schedule

About

GIN is a masternode-based Platform which has been created with a vision of delivering an effort less way to the investors for creating and deploying of masternodes without requiring any technical knowledge or abilities. GIN has also created its own native cryptocurrency called ‘GINcoin’. GIN platform allows its users to create cold wallet masternodes for GINcoin and other masternode coins, without having to deal with servers, terminals or Linux. Therefore, reducing the entry barriers and making masternode investment much simpler for people holding no technical knowledge base of the same. In the long run, GIN coin envisions GINcoin to be as efficient and user-friendly as paper money.
Other than features such as InstantSend and PrivateSend, GIN also offers some distinguished and unique features such as:

GIN Freighter Network

A freighter is a GIN masternode adhering to the GEA protocol (explained below). The decentralized Freighter Fleet (Subset of the GIN network formed by Freighters only) under the governance of GEA protocol will enable the distribution of workloads and apps or jobs. Thus, making them resilient to single points of failure and enhancing censorship resistance. In simple words, the GIN Freighter Network will enable GIN masternode to work even on networks other than its own network, thus generating more value to its platform and creating number of use cases such as data mining, machine learning, decentralized networking services, creation of distributed and decentralized supercomputers etc.

GEA Protocol (GIN Ecosystem Apps Protocol)

The GEA Protocol will act as a connecting medium for decentralized Freighter Fleet, DAMs (Distributed Apps Marketplace) and SINs (Supplier in Need - entity needing a workload to be ran). GEA protocol defines the set of rules based on which creation and monitoring of a decentralized Freighter Fleet and running Cargo (continuously running job) takes place and also facilitates information exchange between all the above functionalities. The protocol is still in the alpha stage and its implementation is set to be tested both off-chain (stage 1: Centralized DAM for masternode hosting) as well as on-chain (stage 2: Decentralized DAMs).

Multiple income streams for GIN Freighter masternode

Through GEA protocol, GIN Freighter masternode opens the gate to number of income streams other than just GIN Masternode rewards, such as: payment from GEA customers for the service offered, availability subsidy (30%) and service subsidy (70%). For more information on the same, visit: https://docs.gincoin.io/announcements/gin-foundation-funding.

GIN Platform

GIN platform allows its users to host masternodes of multiple coins (such as PIVX, Zcoin, Dash, Syscoin etc) by creating a cold wallet storage for the collateral amount without them having to deal with servers or any other technical requirements. The platform offers competitive hosting rates in the market and the prices vary from blockchain to blockchain and length of contract. At the time of writing, the platform has 4787 active masternodes which accounts to an approximate amount of $5 Million (468.27 Bitcoin). The hosted blockchains on the platform have been divided into two tiers based on the vote of GIN masternode holders. First tier consists of coins with innovative ideas, growth potential and real world applications. The platform is well-designed, highly automated and easy to use.
GIN tutorial
Masternode setup on GIN Platform

Team

GIN team
GIN Team
GIN Platform was founded by Emil Muthu (Inspiration Instiller), Alexandru Andreescu (Tab Trader), Dragos Badea (Development Distiller) and Alexandru Stanescu (Libation Legitimator) in the year 2018 with a vision to offer technically unexperienced investors an automated tool for building and managing masternodes. The rest of the GIN team or as people prefer to call them ‘the Ginies’ comprises of individuals holding expertise in various fields such as software, accounting, infrastructure, Marketing etc. The team section has a professionalized outlook holding legit names, photos and short description of every team members and also link to their LinkedIn profiles. Overall, the team looks experienced and legit. To have a peek at whole GIN team, visit https://ginplatform.io/team.html.

Max Supply and Premine

GINcoin does not have a set max supply, but the coin supply will hit the mark of 10.5 Million by 2040. Therefore, the value 10.5 Million is considered as its total coin supply. Presently there are around 6.45 Million GINcoin in circulation around the globe.
The GIN foundation is primarily supported by two sources of funds (Premine and Block Subsidy) for its development and progress. GINcoin was launched with a premine of 4% to be utilized for the purpose of its improvement and expansion. 71,250 GIN were set to be released from the premine by the founders for the four consecutive years after the launch. These funds from premine and block subsidy facilitates network and protocol enhancement, payment of its team members and other accounting, legal and miscellaneous expenses.

Roadmap

GIN roadmap mostly comprises of the tasks they have already completed and very less information on what they are planning for the future. This shows that GIN team is focusing on what they presently have on the plate rather than making any future commitments and promises. Although a little information on what they plan on achieving in the coming months/year wouldn’t have hurt as the investors would know whether the project has some development strategy and if it plans on expanding its use case periphery in the future. The team needs to update their roadmap and try to keep it up to date with latest information and future planning. To have a glimpse at GIN’s Roadmap, visit https://ginplatform.io/roadmap.html.

Exchanges

Livecoin

Masternode

GINcoin was specifically created to ease the procedure of masternode investment by providing the unexperienced investors with an automated tool for building and managing of masternodes with high quality and security. GIN Masternodes offer stability and security to its network by making the transactions theoretically anonymous and untraceable. Also, they provide passive income to their owners for each validated transaction.
To host GINcoin Masternode, staking of 1000 GIN as fixed collateral amount is necessary. At the time of writing, one GIN masternode costs around 181$ and offers an approximate ROI of 35%. 50% of the generated block reward goes to the Masternode owner and the other 50% goes to the Miner. There is no reward percentage allocated for treasury or network development purpose, instead the funds are made available by a monthly superblock consisting of 2 transactions, 21,900 GIN each.
A step by step guide on how to setup a GIN masternode can be found here https://mnguide.online/list/gin/.

Useful links

gin logo
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