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Exotic digital assets series 2

This is a continuation of the previous article: exotic digital assets series, and in series 2 I'll discuss some of the many exotic digital assets in the crypto asset space that were left out in series 1. There Some of the exotic digital assets which will be discussed in this series include Safecoin, GENERcoin, Agoras, NXT, Synereo. It is important to note that while some of the exotic digital assets might be technologically interesting it does not necessarily mean they will make sense from a dividend income investor perspective. It is also important to note that you do not expose yourself financially in the crypto space unless you're prepared to lose your investments, because these are high risk and highly speculative.

That said, if you're prepared to take the risk and you've made it this far from the previous article then you also may understand that many of these exotic digital assets have a political component. Many people buy them because they believe in the political aspects, or because they want some sort of freedom or civil liberties to be enforced in the code. The political aspects will not be explained very much as that is not the focus of this series of articles but it is worth mentioning in order to understand the motivations behind the creation of some of these platforms and the associated exotic digital assets.

Safe Network

Safe Network is being developed to be a decentralized autonomous network which uses Safecoin tokens as fuel. Each Safecoin represents the resources of the Safe Network. Safe Network uses a concept they call Proof of Resource where every Safecoin can represent storage, computation, or even bandwidth. Safe Network is a lot like Storj but is perhaps a bit more ambitious. Safe Network offers privacy as a service, with the goal decentralize the web and the political priorities to promote the values of privacy, security and freedom.

Safecoin

The Safecoin is an interesting asset which right now remains theoretical. MAID is the asset which can be traded and which is promised by the developers to be redeemed for Safecoin. This makes MAID an intermediate asset specifically to be traded and speculated upon until the actual Safecoin exists. Safecoins are to have value based not just on the resources of the Safe Network but also potentially on the apps and content, which will give Safecoins even more value if the Safe Network and it's network effect continue to grow. There is a cap at around 4 billion for the total amount of Safecoins to ever exist.

GENERcoin

GENERcoin is an asset which is backed by renewable energy contained in fuel pellets. The idea behind GENERcoin is similar to the idea behind Solarcoin (the DeKo Thesis). Solarcoin unlike GENERcoin is not actually redeemable for anything so it's not backed, which makes GENERcoin something unique in that it can be redeemed. Electricity is a necessary commodity for artificial intelligence, for computation, for any of the resources which are utilized by a DAC, by Safe Network or others. So the GENERcoin may act as a very reliable long term store of value. The flaw in GENERcoin may be that it's not fully decentralized like we would need it to be. Arterran Renewables is the company behind GENERcoin and they specialize in making biofuel pellets.

Agoras

Agoras is the primary token of Tauchain. In order to understand the purpose behind Agoras, it is important to understand Tauchain. Tauchain is a unique project which is attempting to act as a sort of world super computer like Ethereum, yet it also has much greater security and flexibility than what is offered by the approach taken by Ethereum. Ethereum takes the virtual machine approach where it attempts to isolate different processes while Tauchain takes an entirely different approach.

Agoras is the token which will function as the market token for Tauchain. Originally the project was called Zennet but due to a change in direction the name was changed to Tauchain. A clear distinction between Tauchain and Ethereum is that Ethereum offers Turing completeness while Tauchain doesn't. While Tauchain is not Turing complete, the fact that it is not Turing complete is a feature which allows for deterministic behavior, decidability, and this is necessary for distributed computation markets.

The distributed computation market allows for anyone to rent their computation out over Agoras. Agoras is the market built on top of Tauchain which allows anyone to not just rent computation but rent, buy or sell any services, including human labor such as programming. The fact that Tauchain is decidable and due to it's design, a programmer can be hired by Tauchain itself, and after the programmer has fulfilled their obligations, after the tests have been passed, the programmer is paid Agoras.

This means Agoras will be able to have value in terms of the resources that people can rent to Tauchain and this include the human labor. Agoras is a unique exotic digital asset but considering that Tauchain is not complete and the development of Agoras is not complete, at best there are intermediate tokens which have only speculative value. The true value of Agoras is currently unknown and difficult to measure but it is likely that it will not be entirely worthless.

NXT

NXT is promoted as being a second generation blockchain. NXT contains an asset exchange, market, voting and private messaging system. NXT is comparable to Bitshares 0.9x in terms of it's features but it is not yet as polished or as scalable as Bitshares 2.0. The current NXT protocol said to be transitioning onto Transparent Forging as a basis for it's consensus technology which should go very far in improving transaction time, scalability and security. Because NXT is based on Java it also has a wide and expansive developer community.

Synereo

In order to understand Synereo it is important to understand what the attention economy is. The attention economy is the basis behind where Synereo gains it's value. The value of human attention is the basis behind how advertisements are valued in a market, in that the advertisers want to capture human attention to bring that attention to their website. The developers of Synereo recognize that while on the one hand free speech is important, it is also a situation where attention is scarce. In a situation where attention is scare and humans have to compete for attention, to be heard, the network effect brings value to the AMPs token. So just as Facebook is able to monetize the network effect and auction human attention, in the Synereo model human attention is monetized and auctioned by algorithm, with Synereo being a DAC and the human beings who use it being the owners.

AMPs

AMPs allow for the monetization of the network effect. Attention because it is scarce has value and this value is contained within every human being within the network. AMPs allow for the Synereo decentralized social network to pay every human, and it rewards content contribution.

GetGems

GetGems is an instant messaging app similar to Synereo. It is similar in that it pays the users in Gems which have some monetary value such as for example 1 penny or a fraction of a penny. GetGems is based on telegram and is a private encrypted messaging app so it offers privacy while at the same time paying the users who grow the social network. In some ways it is similar to Synereo but it is not nearly as powerful as the code base is based on telegram and it is merely modified to have a wallet built in.

Gems

Gems is a very speculative asset to hold and whether or not it is ultimately world acquiring and holding is currently unknown. It is possible that GetGems could fail and in that case the Gems could be worthless. In addition it has to compete with the official Telegram which could easily put in a Bitcoin or Telegram wallet into their app if they haven't already done so.

Game assets

In the previous article series I discussed the concept of virtual real estate. The idea that land within a virtual world could be tokenized, turned into an asset, and sold. This is part of a broader development which seeks to create markets for game assets of all types. At this time the market for game assets on decentralized platforms are in their infancy, but there are centralized options available which will be discussed more in the next part of the series. For sake of being organized this series has focused mostly on decentralized technologies but it must be noted that you can currently buy and sell game assets across many centralized gaming world such as World of Warcraft or Diablo III.

DAC Play

DAC Play is an exchange based on Bitshares technology which is in the process of upgrading onto Bitshares 2.0/Graphene. The DAC Play technology is specifically designed to allow gamers to exchange gaming assets. DAC Play also has a gambling element in that it offers the ability to build provably fair blockchain games on top of the platform. It should be noted that gambling is of questionable legality, which can bring legal and regulatory risks depending on how your local authorities might react, so the risks are looming. On the other hand the potential for reward is great and for a dividend investor the gaming asset exchange is a very unique exotic digital asset. If you liked this article please continue on to exotic_digital_assets_series3.


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