Crypto Trust Network Review
The Crypto Trust Network is abbreviated as CTN. It is a platform that will be helpful to add another level of trust in the world of cryptocurrency. However, all the services offered by it will have the Trust Rating that will let the users to make informed decision. With the help of this network, wallets, exchanges, merchants, debit cards and merchants will be able to trace and block the transactions having high risk based on the fact that their wallet have been connected to the fraud activities.
What Is CTN?
The infamous tech company Crypto Trust Network announced the launch of ERC20 token which is the most anticipated token sale. The main goal of the company is to reduce theft and frauds that are happening in cryptocurrency. They offer various tools of wallets, exchanges and merchants. These tools are helpful to reduce introduction to risk by adding an additional layer of trust for transaction like identity verification, trust rating, blacklisted currency trading, and data analysis for transactions and wallets.
Well, fraud and theft have always been an issue when it comes to cryptocurrency and a huge increase in the thefts was seen in 2017. 1 BTC was valued at $969 in January 2017 but the same Bitcoin was valued at $17,000 just after eleven months. There are altcoins that are also exploding in this marketplace, people that are having less than honest intentions have also crowded this space by adding even more risks in this marketplace.
However, the token sale for CTN was opened for the public at 6:00 pm GMT on 22nd January, 2018 and it will be completed when either the hard cap of 10,500,000 CTN issued will be reached or it will be opened at 6:00 pm GMT on 22nd February, 2018.
The value of CTN token is $1 USD and it will be minted once they are sold. However, the participants will be able to buy their tokens with the help of Ehtereum. The rate of tokens per ETH will be determined one hour before the sale. However, this network also confirmed that the first 2,000,000 tokens will be sold with a 20% bonus.
Team Behind This Network
Will Finlayson and Jim Dowling are the founders of this network. However, Dowling is the CEO and he deals with the partnerships, visions and growth of this network. Finlayson is the CTO and he works with the technology, scalability and infrastructure of this network. However, other members of their team are Daniel Whyte who is in charge of systems integration. Well, the in charge for accounts and administrations is Nash Varghese. Warrick Walter works for the machine learning. However, Allan Walker is responsible for the data visualization. The in charge for data analysis is Dylan Erskine and the blockchain specialist is Billy Barrow.
Why Is It Necessary?
The team behind this project has been involved in the world of cryptocurrency for a long time. However, the members find some downfalls in this system, like the ease of fraud. Well, the website indicates a figure that only in 2017, fraud, theft and phishing led to a loss of huge amount of $300 million in the market.
Almost $300 million is lost in cryptocurrency only due to fraud, phishing and theft only in 2017.
CTN has a goal to provide a tool that will let users quickly figure out if theft, fraud or phishing is going to occur and it dramatically reduces the risk of its users that are being part of similar figure in 2018. However, in the long run this system will hopefully be used by enough users to even bring the scam figure down.
How Trust Rating Works?
The Trust Rating is the major tool that is offered by this network. This is importantly a “risk rating” which can be calculated by the engine automatically and it is backed by the machine learning. It provides a metric with leading information from the industry that provides users with the data they need to make decisions easily. However, the trust rating is determined by different factors which include the verification process for CTN; insight engine of CTN, transactions for wallets that are linked to frauds, receiving blacklisted funds, the reports of destination wallet for scam, fraud or malware.
Who Can Take Advantage of CTN services?
In the beginning, the services offered by this network, such as Trust Rating will be helpful for the companies that are focused on blockchain. It will be really helpful for the industries having various regulations, those who are willing to add protection and help their users and people who want to target more users into cryptocurrency. However, the list of potential users include, debit card platforms, exchanges, wallets and cryptocurrency sale sites.
As the use of blockchain technology grows, the businesses that can take benefit of CTN will also grow. It doesn’t matter if a company is in the public sector, accounting, health care, law, ecommerce or anything else, it will take advantage from the Crypto Trust Network as it changes into technologies or assets that are backed by the blockchain technology.
Why Token Is Important?
The CTN token is the selected method in order to pay for CTN’s services and access to data will be the only way to perform as such. However, possibly there will be an exchange service within this platform in order to make it easier for the persons who want to get benefit from the services to get the tokens. Well, these exchanges will be helpful for both buying and selling the tokens. However, they will also be traded independently and on various exchanges.
The team behind this network made the token a single payment options to enable flawless transition from fundraising to functionality. However, the team will need proper resources in order to run this system and the fundraising with the help of tokens makes it possible for the team to get them. In this way, all the funds that are raised from token sales will go directly to grow the team, develop the platform and scale the services.
How To Buy CTN Tokens?
At present, this network is in the token offering phase and the sale was started on Jan. 22, 2018. As a part of this offering, it will also offer a bounty program. It is designed for the people who help to promote this platform and they will receive a specific amount based on the type of promotion offered by them and its reach. However, this method will reward those who spread the word about this network and it will help more and more people to learn about what it offers as the team is quite confident about this platform.
Investors were able to contribute their ETH to receive CTN tokens immediately during the sale. In order to get is started, there will be around 630 CTN awarded per ETH and an additional 20% bonus will also be offered up to 2 million CTN. However, the number of CTN per ETH was locked at a place an hour before the sale begins.
Benefits Offered By CTN
There are many different benefits that are offered by blockchain and collectively they are also offered by CTN. However, there are various different benefits that are offered by this network. It is easy to make a transaction on this platform, it can be quick as transactions will be completed directly between two parties and there will be no intermediary.
Verified Address Book
The first service that will be offered by the CTN is verified address book. This service will be helpful for the users of cryptocurrency wallets to submit Meta data for storing in their wallet. However, once the data will be submitted, you will have to verify yourself in order to get access to the information and it will have a necessary process to prove ownership.
Once verified to the service, it will be helpful for the users to look up a wallet and seeing the verified associated company information.
Wallets To Store CTN?
There are various wallets to store cryptocurrency but you always need to find one that is secure to use and less open to the online scams and malwares. So, if you are looking forward to store your CTN tokens then you will need to consider the highly recommended MyEtherWallet to store you cryptocurrency. However, it is a free wallet for storing Ethereum and it is totally free to make use of this wallet.
Is It Safe?
You will always need to find an online platform that offers secure transactions and you won’t have to worry about being hacked or scammed for your assets. However, it is a safe platform because the team behind this platform guarantees that they have launched this platform to reduce online scams and phishing regarding cryptocurrency. It works on an algorithm which will offer you secure operations to process transactions.
Is It A Scam?
It is true that there are several scams and frauds that occur only due to online environment and internet. There are many different considerations that come into your mind while looking forward to invest in any business that is running online. I know it is not easy to predict anything about any online platform that offers many advantages to the internet users. Well, there are many fraudulent and scam companies that are working online to scam people around and collect money by scamming different people.
Well, if you are an investor and looking forward to invest in cryptocurrency then you will need to have enough knowledge about a platform before even spending a penny on it. Well, if you are looking forward if CTN is a scam or not then you will need to read this. Crypto Trust Network is a new platform for the users and it hasn’t launched its tokens in the market yet. However, many people are spreading a word about this new exciting platform. Well, you will need to know that it offers security for the users in the world of cryptocurrency. It is the first company to announce that they will reduce the frauds and scams that are happening on the internet around the world.
Is Crypto Trust Network a scam? Honestly, I don’t think that it is a scam because it offers different advantages to the users and all of them are the advantages that are helpful to enhance your security online. Therefore, I don’t think that it is a scam because the network has provided clear information about the team behind this project. However, this network seems to be transparent for the users to know how it works and how they will get benefit from this platform.
There are mixed expressions from the users on Reddit. You will see that people are showing different reactions regarding this new platform. There are various people who are happy with the concept and services offered by this network. However, there are few people who think of this platform as a spam. According to my research, it is a new platform for the users and it will need a little more time to gain reputation from people around the world. However, it is a decent opportunity to invest in this ICO. It offers services that are not offered by any other platform. It offers transparency for the users to know whom they are working with. Therefore, it can be assumed that it is a trustworthy network for various users who are looking forward to escape from online phishing and scams and want their crypto funds to stay secure.
Once this platform will get completed, the Crypto Trust Network will need to be a welcome addition in the world of cryptocurrency by protecting people who are making use of crypto, as well as their clients. It will allow the users to determine if a transaction is offering high risk. However, CTN will also lower the amount of money that was lost in the past due to theft or fraud. However, it will also need users to use it. In the same time, it will also reduce the risk for every single user of platform. It will be helpful for the users to make secure transactions without getting scammed by hackers.
Websitte – https://cryptotrust.network/