The crypto market has undergone a lot of highlights this 2022. To say that it has been a roller-coaster ride is definitely an understatement. In spite of this, many still believe that the crypto community has yet to reach its full maturation.
For example, many people will associate this year with the rise of meme coins such as Dogecoin (DOGE), Shiba Inu (SHIB), and Feed Every Gorilla (FEG). A lot of other wild cards such as SafeMoon (SAFEMOON) and Internet Computer (ICP) also made interesting entries into the market. But another crypto project that is slowly getting the attention of some people is Centric.
What is Centric, and is it a good investment in 2022? In this Centric Review, CNL will take a look at Centric history, the two Centric tokens, and Centric (CNS) price prediction.
What Is Centric (CNS) ?
Centric is a cryptocurrency project that offers a “dual-token digital currency”, as well as a “decentralized blockchain protocol”, according to its website. Simply put, Centric focuses on offering a sound cryptocurrency-based alternative to money.
The project’s two crypto tokens are Centric Rise (CNR) and Centric Cash (CNS). We will discuss more of these two tokens in the latter part of our Centric review article.
Helping the Centric community roll out its vision is Centric Foundation, led by Joel Clelland as the CEO. Clelland is joined by COO Thomas Butcher, CTO Nikita Ryabuhin, and CMO Atma Degeyndt.
Now that we know what is Centric all about, let us proceed to our Centric history to find out a short explanation of how the platform came to be.
Interestingly, Centric began during the bull market period of 2017. It was the time when Bitcoin reached its all-time high (ATH) price of $20,000 — a price which only got broken three years later.
It was in May 2018 that Centric’s native asset got its first crypto exchange listing. Later during the same year, Centric launched its token on the TRON blockchain, thus converted into the TRC-20 token standard.
In July 2019, Centric struck a partnership with an i-gaming platform named Moolah.bet. Through this collaboration, members could mine Centric tokens as they played games on the platform. Four months later, Centric Foundation came into existence as an organization aimed at expanding the Centric network and realizing its vision.
Come February 2020, Centric upgraded into a dual-token ecosystem, namely Centric Rise (CNR) and Centric Cash (CNS). After a couple of months and a series of testings, Centric lifted restrictions between the trading of one token with each other. It also saw multiple crypto exchange listings at that time.
Recently, Centric Foundation announced that it will migrate from TRON to Binance Smart Chain.
Now that we are done with Centric history, let’s now proceed to Centric network’s features.
Centric has a number of features to offer its users. Some are already available, while some have been announced, and are expected to come in alignment with Centric’s roadmap. Without further ado, let’s proceed to the features in this Centric review 2021.
One of the most unique features of Centric is its so-called two-token system. As mentioned above, these tokens are CNR and CNS. At face value, they are worth the same, but as we delve deeper, we will find out that each token has a unique function. We will discuss more of these in the Centric Review 2021: Token Specifications section.
Staying true to its vision of providing a better currency alternative than fiat money, Centric has developed CenPay, a blockchain payments solution backed by the network’s native tokens. This platform will play a pivotal role in attaining Centric’s goal of creating a crypto-based marketplace. The team expects CenPay to go beta by the end of 2021.
Aside from crypto-based payments, Centric also plans to support non-fungible tokens (NFTs) on its CenPay platform. Specifically, the team intends to issue purchase receipts and enable the creation of digital products through the app.
The Centric community also has its own specialized wallet for storing cryptocurrencies, particularly its native tokens. Appropriately called Centric Wallet, the platform allows members to swap between CNR and CNS.
At the moment, Centric Wallet is only available via its Web version. Its mobile version will follow soon.
If you don’t want to use Centric Wallet to swap between CNR and CNS, you can also use Centric Swap. This is a decentralized platform that provides a quick swap service, with a modest fee in TRX, and possibly BNB once the Centric ecosystem has migrated to Binance Smart Chain.
Moolah.bet is an online betting platform that has provably-fair games. Through Centric’s partnership with Moolah.bet, players can stake Centric tokens and receive profits daily. Aside from staking, members can also earn Centric tokens as they wager in the games available on Moolah.bet.
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