Just 2 months ago we made the bold claim that Saturn Network would break down the barriers that have been holding back cryptocurrency ecosystems and help businesses of all kinds enter the world of blockchain. We broke down each product in our toolkit and showed how they would not only help businesses enter crypto but also how we enabled them to flourish.
I thought it would be a great time to look at our performance so far before we start to scale onto more chains so that you can judge for yourself if our toolkit does indeed help blockchain businesses grow.
The question to ask would be, is Saturn's Toolkit creating growth? Has it helped users, businesses and developers enter Ethereum Classic?
To answer these questions we will have a look at how our exchange is performing & by taking a closer look at some of the newer projects being developed on ETC that have been made possible by our releases.
A Decentralized & Uncensorable Exchange
Undoubtedly the main factor that brings anyone in touch with our project is that with the release of Saturn Protocol (Mimas) on Ethereum Classic we now operate a true decentralized exchange where users enjoy seamless wallet to wallet trading in one transaction on a platform that is uncensorable. And also doesn’t it just look amazing?
Even if you are still waiting for our Ethereum release, I strongly recommend you give the exchange a browse beforehand! Remember that you are no longer required to log into a wallet to check orderbooks so you are free to check token prices at any time.
Okay, enough admiring let’s have a look at some numbers together! Since its release on October 13th 2018, we have achieved the following:
- Volume: 5000+ ETC
- Trades: 1040+
- Orders: 1500+
So in less than a month, while we are still in an alpha release phase, Saturn Network has seen over $50,000 USD in volume. Bearing in mind that no token marketplace existed on Ethereum Classic a month ago and that projects being developed on ETC were scarce, we feel this is an immense success for the ecosystem!
It shows that our toolkit is functioning as intended, allowing a streamlined approach for more businesses and developers to enter the world of blockchain(in this case Ethereum Classic) and that our blueprint for helping crypto businesses scale works.
Token Self-Listing With Zero Censorship
We now count 22 tokens that have used our automated self-listing process, immediately becoming tradable. No longer do developers have to worry about their token’s application for an exchange being refused or where they will find the funds needed to pass the process. This, as we suspected, has allowed developers to focus on what they do best: development. Many of the projects that you see being actively traded have been launched after our exchange went live. This shows that Saturn Network can be the attracting force that brings developers and therefore new projects to a chain. Another win for our toolkit!
Let’s have a quick look at a couple of these new ETC projects?
Bitcoin Classic Token (BCT)
The first mineable ERC223 token on a truly decentralized immutable blockchain, Ethereum Classic! Bitcoin Classic Token has been designed to be used as a “bitcoin-like” token, however, as it runs on ETC it also benefits from having faster transactions speeds and usable smart contracts. They have also recently launched a BCT mining pool, so no need to have a powerful mining rig, you can join in! Check out their website to learn more.
UNITS is a project that has focused itself on providing a free avenue for people to learn about crypto and the benefits of blockchain. Their ideology is that if we want to see the global adoption of cryptocurrency then there needs to be a way to educate people with a hands-on approach. This is why their project has elected to not have any form of ICO and decided to only airdrop their tokens. The project has proven to be such a success that there are now several different types of BitUnit tokens in circulation which you can learn more about on their homepage!
I suspect this one is more of a crypto game than an actual currency, but I thought it would be interesting to mention as their token ONE has a total supply of 1, which seems to be quite rare. The purpose of the token and its creation is shrouded in mystery, though their website is quite a fun read, the real question is what happens when someone does come to control the full supply?
If you are interested to learn more about some of the new tokens on Ethereum Classic, check out our forum’s cryptocurrencies section where many of them have announced their projects.
Our exchange now counts hundreds of traders using the platform. Numerous new projects that have leapt onto Ethereum Classic this past month, without the need of any aggressive marketing like paying for premium press releases or paying for listing on insecure centralized exchanges. This shows that Saturn's toolkit is helping the ecosystem grow organically from its own merits.
Furthermore, as seen by websites like DappDirect, Saturn Wallet has enabled dApp developers to migrate projects from Ethereum to Ethereum Classic as well as create new ones.
Future is bright!