• Crown (CRW) Price

    The bitcoin community is thriving with new projects and cryptocurrencies. As of May 2018, there are more than 1,600 digital currencies in existence, all of which have been developed with the help of blockchain technology. For a majority of these projects, the inspiration has been to create a blockchain-based decentralised economy. Bitcoin was the first cryptocurrency to do so and others soon followed suit. In the long list of projects which came after Bitcoin, Crown is definitely among the most reputed ones.

    What is Crown?

    Crown is a digital token (popularly known as CRW) and a blockchain platform that is capable of developing and running economy applications. Crown infrastructure supports a variety of blockchain-based projects, ranging from applications to cloud businesses. Additionally, Crown tokens can be used to pay for a variety of goods and services and can be exchanged for other coins on a cryptocurrency exchange.

    The focus of Crown is to develop a decentralised economy with the help of participation from the members of its thriving community, comprising developers and users. You can think of the Crown Platform to be similar to Ethereum - a network that can be utilised to build various blockchain application services by the users, but with extra emphasis on the participation aspect.

    The Crown Community is definitely one of its kind in the cryptocurrency space as it focuses on the joint effort to leverage blockchain technology. As more and more people join the network, the potential of Crown to innovate grows dramatically. Not only this, but the community members can also participate in the decentralised governance of the network and have a say in how the network should operate.

    To understand how the Crown Platform works, you need to understand the three functions that go with it:

    • Hosting applications on its network
    • Performing transactions instantly
    • Verifying and storing transactions in the decentralised ledger, also known as the blockchain

    In addition to providing the aforementioned functionalities, the Crown Platform is also responsible for protecting the network and keeping it up and running. These tasks are delegated between two classes of nodes - Masternodes and Systemnodes. Before we proceed, let us understand the concept of nodes.

    Nodes are essentially the servers that connect to a blockchain network. These nodes enable instant payments, validate transactions, and host applications for the parent network. For their efforts, these nodes/servers are rewarded with the native cryptocurrency of the network.

    On the Crown Platform, Masternodes are tasked with the responsibility of providing continuous security to the network, along with validating and updating transactions on the ledger. The Crown Masternodes have copies of the ledger and they provide a substantial chunk of the computing power needed by the platform. Owing to the importance of Masternodes in the Crown Network, the systems that run these nodes receive a vote in the network’s decentralised governance system.

    As for Systemnodes, they are tasked with functionalities other than verifying transactions. They are the servers which host economy blockchain-based applications created by the community members. They essentially act as the interface between users and the blockchain and therefore, they are more flexible than Masternodes. In other words, Systemnodes are mainly responsible for hosting blockchain applications on their highly secure servers.

    In order to run these two nodes, you need to have a certain number of CRW tokens in your wallet. For Masternodes, the minimum requirement is 10,000 CRW coins while for Systemnodes, it is 500.

    Furthermore, unlike other blockchain projects which emphasise on anonymity, Crown is 100 percent dedicated to transparency. Its system of Masternodes and Systemnodes ensure that there is an absolute decentralisation, which is in fact, the core essence of a cryptocurrency. The Crown Platform has been developed by keeping in mind the laws that all businesses in the real world must follow. This legal compliance, in conjunction with smart contracts, has definitely given a new heading to the blockchain industry.

    According to Coinmarketcap, the total supply of CRW is capped at 42 million. As of May 2018, a little over 18 million CRW tokens are in supply.

    Where to buy Crown (CRW) tokens?

    Crown is an altcoin and therefore, it will have to be traded against Bitcoin or Ether. Some of the leading cryptocurrency exchanges which support this are Bittrex, CoinExchange, and CryptoBridge.

    Crown Wallets

    The team behind the development of Crown tokens has designed wallets suitable for storing CRW. These wallets are available on desktop and mobile platforms. Apart from this, paper wallets can also be downloaded, all from the official Crown website.

    You can also look into cold storage options like Nano Ledger S and Trezor.

    Crown (CRW) Mining

    It is possible to mine Crown tokens. It is mined through the traditional proof-of-work algorithm and is merge-mined with Bitcoin. To get started, you need to download the wallet client from the official website. You can set up Masternodes/Systemnodes to contribute to the network and in turn, earn CRW tokens for your efforts.

    Crown Price Trends

    As of May 22, 2018, the value of 1 CRW token is approximately $1. The token has witnessed a dramatic appreciation in its value just like every other cryptocurrency in the months of December and January. The price of the coin rose by more than 400% and managed to surpass the $4.50 mark. When the bubble burst, however, the coin lost its recently-made gains and went back to its previous levels. Through the months of February and March, the price of the coin was in a state of decline. In April, CRW tried to stage a recovery but failed to move past the $2 mark.

    DateOpenHighLowCloseVolumeMarket Cap
    5/30/20180.8953160.9531410.8834140.9030581664810042985
    5/29/20180.8644940.9403930.851790.8947111606430034643
    5/28/20180.8877680.9447290.8537380.8648241648590034172
    5/27/20180.9083090.9167190.876610.8975531685610017275
    5/26/20180.9155920.9684670.9008790.9081361697990023655
    5/25/20180.9579290.9808010.9055530.916761775320028499
    5/24/20180.9665830.981940.8950920.9563041790170028019
    ViewMoreLess

    Risks Associated with Investing in Crown

    Despite the extra emphasis on transparency and participation from the community, Crown is still a cryptocurrency that is subject to high volatility, regulatory hurdles, and massive competition in the crypto space. Therefore, from an investment point of view, buying CRW tokens may not seem like a feasible idea, unless it is for the purpose of running a node in the network. Even in that case, the monetary value of the rewards earned will depend on the market price of CRW token and its acceptance across the world.

    In such a scenario, we advise you to look into other investments like mutual funds. They are far less volatile, legal, and if chosen wisely, can generate excellent returns in the long-run.

    Disclaimer:

    "The Reserve Bank of India (RBI) and Ministry of Finance has frequently cautioned the users, holders and traders of virtual currencies regarding the potential economic, financial, operational, legal, customer protection and security related risks associated in dealing with virtual currencies. RBI also further clarified that it has not given any licence/authorisation to any entity/company to operate schemes or deals related to Bitcoin or any virtual currency. RBI has also barred its regulated entities from dealing or providing services to any individual or business entities dealing with cryptocurrency. The Ministry of Finance has also officially stated that virtual currencies are not legal tender or coin.

    A&A Dukaan Financial Service Private Limited (“BankBazaar”) does not endorse investing or dealing in virtual currencies in any manner. The information provided on our website is solely for illustrative purposes and should not constitute investment advice or assistance in investing or dealing with crypto currencies. If you decide to invest or deal in cryptocurrencies, you should be aware that you will be dealing with the respective individuals or business entities dealing in cryptocurrency and BankBazaar has no role in any manner in such transactions or dealings. We strongly advise our visitors to invest in legally recognised financial instruments rather than risking their capital on virtual currencies which are unregulated instruments."

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