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Gems: The new crypto social currency network

Altcoins, News


 

A new altcoin with a pretty unique concept is the main talk lately. Gems is not your ordinary altcoin , it provides a unique social messenger application which we could say is pretty much comparable to whatsapp in term of use but there is more to it. If we remember whatsapp has been purchased by facebook for a net worth acquisition of 22 billions. Who would believe such an app could be worth this much?

Now what if Gems app messenger would be worth this much eventually? Why would you care? Simply because Gems app messenger is owned by the users and that means users are going to profit from the revenue generated trough gems platform only by using it. This is the main concept behind this app and in my opinion is a great one.

How does the whole concept work?

If you are well aware of how facebook and google generate their revenue then you already have a good idea of how the revenue trough social network applications is generated. The difference here is that this time we are rewarded for using and referring people to use the app. As it becomes popular, advertisers will eventually opt in and pay for their advertisements to be shown on the app. How much revenue will be shared is yet to be determined for each individual user but the simple fact which allows users to possibly earn from doing what they have always done should be enough to give it a try.

Factors of Distributions:

  • Every day, 245,000 gems are taken from the reserve and distributed directly to users according to a public and fair algorithm.
  • The total number of new, active users that the user invited during the time period. This calculation is directly related to the active-user counts (total of active users per original inviter).
  • The total number of gems that the user currently holds in his account. This means that users with large reservoirs of gems will be rewarded more generously than users without gems. 

Some facts

Gems is a new 2nd generation cryptocurrency powered by Counterparty. The platform is built on top of Bitcoin.
Gems is The First Social Currency Network.
Gems is a social messaging app bringing crypto-currency to the masses.
Gems is designed from the ground up with this goal in mind.
Gems relies on a Public Sell for initial distribution of the supply. The total amount of Gems in existence is 100’000’000 (100M).

Some features

Fun Keep in touch with friends. Free unlimited instant messaging.
Simple Your passphrase is your wallet. Fully functional in under 30 seconds.
Secure. Be as anonymous as you desire. Communications are always encrypted.
Profitable. Be rewarded for introducing new users to the network.

To be able to stay anonymous is a missing feature in any app messenger right now, Gems app doesn’t ask you to link your phone number or any personnal details in order to allow you to use their application

Gems, unlike other networks, allows users to choose the level of anonymity and privacy with which they feel comfortable. User data is never shared with third parties, unless the user consents. By default, a Gems account only contains an anonymous alias—a chosen username. This username does not have to reflect a user’s real identity in any way.

The Pre-Sale

It has officially been announced, Gems pre-sale will be hosted by http://koinify.com/ 

It will consist of around 50% of the coins supply since the other 50% will be shared amongst users on a daily basis.

According to Koinify, investors are going to be able to use any crypto-currencies trough their multi-sig wallet.

In partnership with our friends at BitGo, we’re proud to be the first crypto funding platform to adopt a true multi-sig wallet for all funds accepted, which significantly increases accountability and security.


To stay updated about Gems development and pre-sale here are some links to keep track of:

Forum: https://bitcointalk.org/index.php?topic=758004.0

Koinify announcement: http://koinify.com/blog/say-hello-to-gems/

Twitter: https://twitter.com/getgemsorg

Website: http://getgems.org/

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