What is Obsidian (ODN) – Crypto Beginner’s Guide
Private data and privacy are part of the rights available to everyone living in the European Union. According to law, this personal right cannot be tampered with by the state. With big data analysis finding applications in more areas, it is easy to access data via various channels. This implies that citizens’ right to privacy is steadily phasing out.
Obsidian Coin hopes to provide a huge impact in this situation. To grant users the privacy they require, a messaging service is available from Obsidian Coin is completely anonymous. It is available on Windows 10 and will soon be available on other platforms to serve more individuals both in the crypto community and outside.
Obsidian Coin – The Cryptocurrency
The Obsidian Coin works as a Proof-of-Stake coin which utilizes Masternodes. Hosting a masternode will require a collateral of 10,000 ODN while there is an estimated annual return of 10%. To carry out messaging functions, the platform uses service nodes to create a decentralized app which is secure for its users.
To provide complete privacy to its users regardless of any possibility of data release to the government, Obsidian Coin does not collect any data on its platforms.
Using the decentralized network, private communication is available while a secure chat link is made with the Obsidian Coin.
To assure users of the security of the platform, there is no central server available for hosting communications. The option of hosting is provided to users on their personal network for which they gain Obsidian Coin.
By using communication systems which are already in existence and also incorporating the blockchain technology in developing these systems, the network is a lot more secure from attacks and interception.
Obsidian Coin – The Company
A diverse group which includes Jordan Schneider who is in charge of sales and marketing while Peter McClory handles public relations and management runs the Obsidian Coin Company. Software development is in the hands of Raides J. Rodriguez who is also responsible for software development. Further software development is handled by Alan Sheston, Karl Markov, and Lester Chad.
Obsidian Coin – The Vision
Whatsapp and Facebook Messenger are two of the largest messaging apps with more than 60 billion messages sent on a daily basis.
The goal of Obsidian is the use of the blockchain in creating a completely anonymous means through which users can communicate.
To achieve the goals of the platform, using C# as the basis of its development, the Obsidian Secure Messenger was developed. The messenger also follows the NBitcoin standard in its functions.
Obsidian Coin – Market Capitalization
On October 2, 2017, the Initial Coin Offering of the Obsidian Coin took place during which the market capitalization of the cryptocurrency was at USD 8.6 million. The coin currently has a market capitalization of USD 21.8 million and trades under the ODN abbreviation.
The limit of the cryptocurrency has been put at a value of 98 million with a total of 24.4 million coins already in circulation. A higher percentage of trading, 97% to be precise, is an exchange between Bitcoin and ODN.