About Origin Protocol

Origin Protocol Review: Mining Guide, Price & Analysis of the Origin Protocol Cryptocurrency

Origin Protocol is a blockchain project that allows users to launch e-commerce platforms. Users can sell anything they want on such platforms. It doesn’t matter whether it is a product or a service.

The goal of this blockchain is to remove the need for central institutions from online stores. This way, users are free to control their activities on the network. Moreover, they do not have to pay excessive fees charged by central institutions. 

This is an easy way for sellers to launch their online store. Additionally, buyers receive price benefits of competition. The Origin Protocol model is a revolutionary approach. It comes with many economic and social incentives.

On Origin Protocol, users launch decentralized e-commerce applications. Therefore, this blockchain is an indirect competitor to Ethereum. However, it has a few twists that make it different. Moreover, this blockchain mainly focuses on e-commerce platforms. Hence, competition from Ethereum may not affect it that much.

How Origin Protocol Operates

Origin Protocol borrows from other existing technologies in its operations. Specifically, it borrows the technology of Ethereum smart contracts to power transactions. It runs on the reliable and secure Ethereum blockchain.

Therefore, users do not need a central institution to process transactions. Instead, smart contracts facilitate everything. More users are growing trust in Ethereum smart contracts with time. Hence, the Origin Protocol blockchain is very appealing. Additionally, the adoption of Ethereum gives it high accessibility.

Additionally, it borrows from file storage technologies. Here, it borrows the Interplanetary File System as a data storage mechanism. Also, it applies the Proof of Replication and Proof of Space-time algorithms. This helps the blockchain gain elastic storage.

Further, Origin Protocol has a suite of tools to help developers quickly develop applications. It provides developers with a convenient JavaScript library. This allows developers to launch applications in minutes. Additionally, it consists of open-source protocols useful in applications. They help in user identity, publishing listings, and peer to peer transactions.

The applications launched on this blockchain are user friendly and decentralized. Users can communicate and transact on the same platform.

Can Investors Mine OGN Tokens?

No, it is not possible to mine on the Origin Protocol blockchain. This blockchain does not have any specific consensus mechanism. In any case, it does not support mining.

However, it does support staking. Staking is a great way to help secure a network. Stakers receive rewards for helping to protect the network. They protect the network by proving that they have a stake in it.

This way, there is no worry that such users will attack the network. If they do, they stand to lose their assets in the process. Therefore, it becomes expensive for them to attack the network. Thus, the network is immune to 51% attacks and double spends.

Currently, Origin Protocol runs Origin Nodes that validate transactions on the blockchain. However, in the future, users will be able to stake their coins to become validators. The developers claim that staking models are in an active research state. Therefore, it will only be a matter of time before they launch the models.

The Team behind Origin Protocol

Perhaps the best part of Origin Protocol is the diverse and experienced team behind it. The two founders of Origin Protocol are Josh Fraser and Matthew Liu. Josh has excellent experience in programming. He started coding when he was just ten years old. Josh was also the co-founder of PriceSlash, LLC.  Additionally, he co-founded Din. Hence, he has excellent experience in spearheading tech companies into success.

Matthew Liu also has immense experience. He was the third Project manager at YouTube. He was also the VP of Qwiki and Bonobos. All of these companies are very successful at this time. Matthew is an impressive individual with a great track record.

Therefore, it is safe to say that this project is in safe hands. Moreover, it has great partners and funders. One of the critical funders is Steve Chen. He is the founder of YouTube. It is refreshing to see reputable companies and individuals have faith in this project.

Privacy and Security

The Origin Protocol blockchain has excellent security features. It runs on the Ethereum blockchain. This is one of the safest blockchains that exists. Hence, users do not have to worry about security breaches when using Origin Protocol. 

The only issue that experts identify is with smart contracts. However, over the years, Ethereum smart contracts continue to prove to be reliable. Moreover, regular audits help ensure there are no vulnerabilities.

Further, the blockchain plans to use the Proof of Stake validation consensus. This is a great way to keep out 51% attacks and double spends. Validators cannot attack a network in which they have a considerable stake.

The OGN Token

The OGN token is the native token of the Origin Protocol network. It helps power transactions and the staking process. Additionally, this token serves as the governance token. Holders of this token experience great benefits on the network. For example, sellers that hold the OGN token are featured prominently in search results.

Further, holding this coin gives users an ownership stake of the network. Hence, they gain voting rights. Users can vote on the development updates to launch on the network. Additionally, they can submit proposals for updates.

Even better, users can stake this coin to receive rewards. This process helps maintain the security of the network.

Our Take on Origin Protocol

Origin Protocol has a unique approach to e-commerce. Using this system, users can quickly launch decentralized online stores. This has excellent social and economic incentives. Users have full control of transactions and the development process. 

Further, they do not have to pay hefty fees charged by central institutions. Moreover, centralization creates a monopoly. This monopoly does not let the users enjoy the price benefits of competition.

Although this network competes with Ethereum, it is unique. It focuses specifically on e-commerce platforms. Hence, the developers can concentrate on perfecting the services.

Advantages

• Origin Protocol offers a lot of freedom to users.
• Launching applications on Origin Protocol is very fast and easy.
• Origin protocol helps users save a lot of money.

Disadvantages

• Origin Protocol is yet to see mass adoption.

How to Buy and Store OGN Tokens

It is clear that the OGN token has excellent benefits. Luckily, you can easily add this coin to your portfolio. You can do this by buying from various exchanges. The best exchanges to use include Huobi Global, Binance, Bitfinex, BitZ, and BiKi. The price of one OGN token stands at $0.119643 at the time of writing this.

You can easily store this token to sell at a later date. It is an ERC-20 token. Hence, you can use any Ethereum supported wallet. Some of the best wallets to use include Ledger, Trezor, MyEtherWallet, and Exodus.

Final Verdict

The Origin Protocol has a very appealing value proposition. The blockchain still has a long way to go. But that is not to say it does now have potential. This network could see mass adoption in a short time. Users and developers only need to see the benefits it holds.

All in all, it currently ranks 359th in market cap share. However, it is showing a steady rise in value with time.