Expanse is a cryptocurrency that is the first stable fork of Ethereum with an identical data encryption algorithm. Its main purpose is to provide an ICO tool available to anyone. There is no strict project selection mechanism, anyone can organize fundraising for a promising idea in a few clicks at his/her own discretion.
The project also offers VoteLock, a decentralized voting platform characterized as a transparent application that protects the vote counting process from fraud and deception.
Important note: The lack of algorithms for selecting proposed ICOs is both an advantage and a significant disadvantage of the system, as it opens access to fraudsters and undertrained specialists who are unable to soberly assess their strengths. This fact undermines trust in Expanse, which significantly limits the pace of platform development.
Agreements regarding platform development activities are reached through a vote of all miners and users of the ecosystem. This ensures that the principle of decentralization is respected and that it is stable.
Smart contracts allow community participants to evaluate innovations and maintain the network automatically. Managing the resource without outside influences and preserving its identity.
Expanse’s pros and cons
Pros:
- Fidelity to the principles of decentralization and free choice of the cryptocurrency market, as well as the absence of control by the authorities.
- Stability of the network, high level of reliability and data protection.
- Ability to maintain a sufficient liquidity ratio.
- Stable operation of the ecosystem due to its demand among miners.
Cons:
- The need to spend electricity and use significant power to mine the cryptocurrency.
- Hacker attacks can be carried out even with a high level of security, resulting in the loss of funds for the platform’s users.
- Complicated forecasts for the demand for Expanse cryptocurrency and its rate on the market.
- The risk of negative impact of digital currency exchange rate fluctuations on miners’ profits, which may cause them to withdraw further support from the ecosystem.
The steadily high popularity of the Ethereum platform leads to significant congestion. This fact, coupled with stringent requirements for potential ICO campaigns, has led to the creation of lightweight but stable forks, the first of which is the Expanse ecosystem.
The continuous progressive development of the parent blockchain simplifies the operation of derivative systems, as it provides them with easily integrated functionality by adapting ready-made code.
Tokens
The total number of coins is 100 million EXP, they are gained in the process of mining. To develop the project, a reserve (pre-mine) was created, a large share of which is blocked by a smart contract until the emergence of a decentralized autonomous organization – DAO Expanse.
The issuance of new tokens isn’t expected, the owners of EXP will automatically become members of the EXP.DAO ecosystem.
Purchasing and storing EXP
You can purchase EXP coins on exchanges designed for cryptocurrency trading. Wallets for them function on Windows, Linux, Mac OS or have a form of online service.
The official wallet is available for download on the developer’s website, and online solutions can be found on the net, for example https://expansewallet.net/.
Cryptocurrency in very small amounts is acceptable to keep on exchange accounts. Wallets from the official website of the coin are recommended as reliable wallets for the purpose of coin trading, in other cases it is better to store EXP on online wallets.
EXP mining
EXP cryptocurrency generation is based on the Proof-of-Work algorithm, which makes it available for mining by leveraging the computing power of computer equipment.
You will need a specialized application called Ethminer to do your mining. The installation software package includes all the necessary files for the work. The process will require at least two powerful Nvidia graphic cards. To speed up the procedure of mining coins, it is useful to work not alone, but as part of the mining pool for Expanse.
In addition, the cloud mining service allows you to rent other people’s computing power and earn cryptocurrency by paying a small rent.
It is important to keep in mind that when following the parent platform, it may be necessary for EXP to switch to a different operating algorithm, PoS. This situation is typical for many cryptocurrencies that have passed the stage of functioning on the PoW algorithm, for example, Experience points.
Project history and team
The company developing the Expanse cryptocurrency is small.
- The platform was founded in the fall of 2015 by Christopher Franco, a specialist in the production of DApps of all kinds. According to his views, it was positioned as a basis for the creation of any decentralized online projects for the empowerment of all people on the planet.
- James Clayton is the co-founder of the project and the founder of CCC (Cryptocurrency Collectors Club), the largest association of people involved in the cryptocurrency industry, on Facebook.
- Dan Conway, a blockchain developer, is also one of the founders of the Expanse site, but he joined the project a little later than the others.
- The team of participants interested in the development of the platform grows through related and partner projects. The invitation form is available for filing on the organization’s website.
The Expanse platform was created without an initial coin offering, with the blockchain community serving as the backbone for its development. Freedom from ICO status means for all project participants both the freedom to search for and implement creative ideas in the future.
Prospects and forecast
Expanse development process isn’t characterized by high speed. The cryptocurrency EXP is far from being the best in terms of capitalization and doesn’t show an upward trend in value.
The development of the platform will be determined by the same factors that affect other similar cryptocurrency projects:
- the presence and “volume” of interest from investors and miners;
- the successful launch of promising ICOs based on Expanse;
- changes in the legislative regulation of the digital assets market.
At the moment, despite the reliability and high liquidity ratio of the platform, no significant projects have been implemented on its basis.