BitBay BAY to Game.com GTC Exchange

Crypto Pair Details: BAY to GTC

BitBay BAY

BitBay is a free, decentralized marketplace for buying and selling goods and services on the blockchain. You can connect directly with peers and transact without the need for a middleman like Amazon, eBay, or Craigslist. Transactions are secure and anonymous. They’re also guaranteed by escrow. The project aims to be the new standard for eCommerce, allowing individuals to trade one-to-one at scale. As a result, BitBay claims it will revolutionize global trade. It’s seemingly a great solution for other niche applications as well, where groups of people aren’t served by existing marketplaces. In the beginning, BitBay got off to a rocky start. In 2014, the original founders raised capital in bad faith and quickly abandoned the project after fundraising, leaving the lead developer holding the bag. It seemed like BitBay was finished, but the developer continued working on the project out of a sense of duty to the original investors, without access to the capital raised in the fundraising round. The BAY token is the transactional token in the marketplace. You use it to buy and sell, and it can also participate in freezes, escrow, bets, swaps, etc. The token itself operates like Bitcoin and is secured by the network. Although you can use BAY for transactions, you don’t have to. You do, however, have to use BAY if you’d like to take part in token staking. BAY’s price cratered after the original founders left and stayed low until March 2017 when it took off. It has been through several cycles of bull and bear runs, with a max price over 30 cents in January 2018 before retreating to its current value. BitBay supports all kinds of privacy and security measures. It’s easy to create a multisignature wallet for added security. There are integrations for Tor and other proxies that help anonymize your connection to the marketplace. An on-screen keyboard allows for password or key entry without using your keyboard and being susceptible to keylogging. Additionally, you can create images with your private key embedded, so that finding a stored key is more difficult for a hacker. The marketplace also has functionality for time locking contracts and swapping currencies. This enables all kinds of cross-chain transactions and financial implements. The time lock and other smart contract elements make it possible to create bets, escrow, futures and options trades, or any number of other financial transactions. The idea and implementation by BitBay, of a decentralized marketplace and trading platform is brilliant and shows further promise of expansion.The rocky beginning of the cryptocurrency and its subsequent comeback as a promising platform indicate that the developers are in it for the long haul and don’t plan on abandoning the platform after all these years.

Game.com GTC

GameCoin (GMC) is a digital currency targeted towards the gaming community. GMC tokens go on sale at the end of September through the GameCoin ICO. GameCoin aims to increase the revenue of the gaming industry by 3 times – or 300 billion dollars per year. It aims to allow players to earn money from their hobby. And, within a year, the developers claim the capitalization of GameCoin will “exceed and billion dollars and will continue to grow rapidly.” GameCoin is being proposed as a way to monetize the world of free gaming. The GameCoin whitepaper explains that the majority of gaming revenue comes from 10% of users. Today, developers are struggling to monetize the remaining 90% of users. GameCoin claims to have found a way to do that using blockchain technology. Basically, GameCoin’s idea is to allow each game developer to create their own cryptocurrency. This cryptocurrency is used as in-game money. The developers can create this cryptocurrency at virtually no cost to themselves – it’s just a digital token that has value in the game. However, by the time it circulates through gamers, the token will have value because it can be used to pay for in-game items. In more straightforward terms, GameCoin plans to make it easy for developers to create a secure in-game currency. It appears that these cryptocurrencies will operate as forks on the GameCoin blockchain. Each developer will be able to make their own fork – so gamers can easily apply their GWC tokens to any game of their choice (the GameCoin wallet will support all forks).

SOURCE: COINGECKO

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