ChainCoin (CHC)
Node Profitability
At the time of this review, 2/1/2018, Chaincoin’s masternode requires 1,000 CHC, costing only $475 dollars. This is a very affordable masternode for everyone. With a ROI of approximately 60% there is not a lot of risk to this coin. There are approximately 2,200 masternodes in existence for CHC and as this number continues to grow the ROI will continue to drop.
Chaincoin is ranked in the top 600 cryptocurrencies and today had a volume of under $25,000. Being listed on only Cryptopia makes this coin lack volume and exposure. Chaincoin will benefit greatly from being listed on more exhanges
Chaincoin’s website has a setup video and also a link to their discord with a dedicated masternode channel. I have been seeing reports of their masternode not paying out and that is a big red flag at the moment. I have been told that it is being looked into and should be fixed soon. I visited their discord and noticed a lot of people talking about the masternodes not paying out with the developers saying they are working on it and getting a bit defensive. I tried messaging a developer on discord and was not getting any response from them.
Chaincoin’s long term value is going to depend on getting their masternodes fixed and paying out their owners and also getting listed on other exchanges. As of right now I do not see the long term value of CHC. It has been a subject of a pump and dump in July 2017 where it went from .00002 btc to .002 in less than 2 week. The price has continue to fall back to .00006 btc area. Nothing in the past few months have showed me any growth and since the coin has been around since 2014 and not gain any real value the outlook is bad.
Total Score: 2/5
Product & Technical Information
The purpose of Chaincoin seems like a good idea but they are just not able to do anything with it. They are wanting to function like a bank where you can deposit money and you would get an ATM or debit card to spend. Unfortunately there is no whitepaper and the road map does not give a clear direction.
When asking about a white paper and the vision of the company on their discord this is the response I received from a developer and the creator .
DEV: “we are kind of at a weird spot now – we rallied the community together to try and turn this shitcoin into a real project but things are more complicated than we thought”
Creator : “Way more so than we thought”
Total Score: 2/5
Communication Channels
Coinchain is making use of twitter, discord, and an unofficial Reddit. Their twitter has not had a tweet in approximately two weeks but before that they were semi active. CHC’s discord seems like it is sometimes used but seems like it is used more for support than it is for people being excited about the product. CHC’s Reddit has few post and many of them are complaining about stuff not working and calling the coin dead, which I am starting to agree with or at least its on life support at the moment.
Total Score: 2/5
Personnel
I was unable to located any information about their team and advisers.
Total Score: 1/5
Professionalism
CHC’s website seemed ok. Had no link to advisers or team. It did link to social media and how to setup a masternode but was just average.
CHC’s social media does seem to stay focused but lacks the outreach that I would like to see a small cap coin do in order to grow.
Total Score: 3/5