New Cryptocurrency CLAM Rising Without a Hitch

By February 18, 2015Bitcoin Business
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New Cryptocurrency CLAM Rising Without a Hitch

In this over-populated cryptocurrency sector, only few altcoins manage to grab the users’ attention. Throughout this article, we will spot the light on one of these few newbies that are promising a stable and steady investment option for small-time investors. Meet CLAM, a new cryptocurrency which has been steadily rising ever since it was lauched.

CLAM/BTC CHART

CLAM cryptocurrency chartCLAM cryptocurrency chart

As we can conclude from the above chart, CLAM’s market cap is displaying uninterruptible flux of investments since the day it entered trading. It’s market cap, which initiated from a mere $816,447, today has peaked to over $1 million — in just over a month. The price meanwhile has jumped from 655,135 satoshi to 773,656 satoshi.

The best thing however to note here is the absence of manipulations. We could see how the CLAM’s market cap, alongside the value, has been surging organically — thus giving it a pinch of stability a majority of other altcoins lack.

Background Check

As we researched into this cryptocurrency, we found that its developers started by sending CLAM tokens to 3.1 million unique addresses pulled from Bitcoin, Litecoin and Dogecoin blockchains. At the end of initial public offering, each address received an average of 4.605 CLAM.

New Cryptocurrency CLAM Rising Without a Hitch

The developers meanwhile launched a P2P CLAM network — something that reminded us of NXT network — that runs a native software and interconnects the computers that are running it. “The purpose of this network is to independently and collaboratively verify the transfer and creation of CLAMS,” as stated on their website.

As we dig further, CLAM turned out to be a Proof-of-Stake (POS) cryptocurrency which is used to randomly pay rewards to network’s active users. “Approximately once per minute, the network automatically selects one running unlocked client to process recent CLAM transactions, rewarding them 1 CLAM,” the website reads.

“This process happens entirely in the background. If the network selects you as a client, then all you’ll notice is that you’re 1 CLAM richer! This POS system is the heart of the CLAM network, providing security and stabilizing the price over time.”

Trading Exchanges

Many of CLAM’s existing users are calling it a “clean” cryptocurrency — a reason why there has been a collaborative effort to list it on multiple cryptocurrency exchanges. Recently, CLAM users also approached Bittrex. The exchange, which recently got rid of 36 altcoins, was in no mood to integrate CLAM initially, but later agreed to give it a look.

Meanwhile, the POS coin is already available to trade on small exchanges, which include Poloniex, Yacuna and most notable Cryptsy.

Image from ClamClient

CLAM cryptocurrency chart As we can conclude from the above chart, CLAM’s market cap is […]

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