DO NOT INVEST IN GIGA
The developer of GIGA has been scamming his community. He had over 10 masternodes installed, raked in the majority of the rewards and sold this immediately on Crypto Bridge. Apparently he has been using the pseudonym Jesse77 on CB. He holds a large portion of all the GIGA coins. Currently do NOT invest in GIGA. Even if it would fork, it would need to make sure that the developer’s wallet have been removed… or he would still financially benefit from his scam.
GIGA Coin is a payment coin with cheap transactions and optional privacy options. The network is community driven and powered by masternodes and stakeholders. The developers pre-mined 10% of the coins to invest in development and marketing.
GIGA Coin is build on the Bitcoin, Dash and Pivx chain, and that’s why it offers Zerocoin technology. XG is build on four fundamentals: large supply, lightning fast transactions, private transactions and decentralization. Their goal is to build a currency for every day use, without people getting insight on each others spending.
Facts & Numbers
Proof of Stake (PoS) – locking coins away gives users interest and increases value of the coin. 20% Rewards per block.
Masternodes (MN) – just like PoS a masternode locks coins away, but it also helps to run the network. 80% Rewards per block.
Proof of Work (PoW) – 100 million XG was pre-mined. This is for development, marketing and exchange listings. There’s no more mining.
- Launched September 2018
- 1 billion coins within 2 years
- 30 second block time
- 100 million pre-mined
- 1.020.975.390 coins max.
- MN collateral: 100.000 XG
- Rewards: 80% MN / 20% PoS
Block 201 – 100.000 = 50 XG
Block 100.001 – 200.000 = 1250 XG
Block 200.001 – 400.000 = 1000 XG
Block 400.001 – 700.000 = 800 XG
Block 700.001 – 1.000.000 = 600 XG
Block 1.000.001 – 1.500.000 = 400 XG
Block 1.500.001 – 1.700.000 = 250 XG
Block 1.700.001 – 1.800.000 = 150 XG
Block 1.800.001 – 1.900.000 = 50 XG
Block 1.900.001 – 2.000.001 = 10 XG
Block 2.000.001 and beyond = 5 XG
- Positioned as payment option from the start.
- Coin limit reached within 2 years. Creates scarcity relatively quick.
- Road map until June 2019.
- Plans for the next 12 months are promising, including Shopify integration, mobile apps, brand partnerships and implementation into Trezor and Ledger hardware wallets.
- Strong – but anonymous – presence on Discord and other social media.
- Not the only coin aiming to do the same thing. Approach is not unique.
- Dependent on partnerships, community implementation, adoption among commerce and retailers.
- Only available on Crypto Bridge and Crex24.com, not getting lots of liquidity at the moment. Price going down, current MN market for XG reaching saturation.
- This is a community powered privacy coin, and the development team is not publicly known by name. So invest with caution!
The success of GIGA depends strongly on the adoption of the coin outside its inner circle. However, it’s inner circle – even though anonymous – is communicating openly with coin holders on platforms like Twitter and Discord. By implementing GIGA in existing crypto payment structures, the coin has a good change of reaching mainstream usage. The team will need to come up with ways to provide liquidity in order to increase demand for GIGA.