What is Substratum (SUB)?
Currently, the internet relies on servers that transfer the information between the server and the personal computer who wants to access that particular website. These servers are in the possession of big web hosting companies, who acquire more and more servers as they grow, which means that this whole network is becoming more and more centralized as these companies become monopolistic. The two main issues with this are:
- The price will continue to go up as we are getting closer to a monopolistic competition
- The freedom of users is limited – you can see this first hand in countries like China or Iran; this includes things such as having to use a certain web browser to access the internet.
For these reasons, there is an increasing need for a decentralized web and this is what Substratum is planning to achieve. As it stands at the moment, this is a unique project and they do not have any competitors for decentralizing the internet.
How does Substratum work?
The technology at the core of Substratum is the SubstratumNode. This would allow everyone to become a web host on the decentralized internet – you don’t have to be a company owning thousands of domains, you can do this as an individual who was access to a computer and internet. If you decide to become a web host, you will be rewarded with SUB tokens which you would be able to exchange for money if you wanted to.
Another important concept at the core of Substratum is CryptoPay. This is an API that will allow you to deploy any website and also to use your cryptocurrencies on shops and commercial websites on the internet.
ICO and supply
The ICO took place in August 2017, with a price of 1 ETH for 3,000 SUB tokens. Substratum was listed on Bittrex and Bitfinex in September and is currently trading at a price of $0.26 USD, with a total supply of 352 million tokens and a circulating supply of 226 million tokens. This is a low circulating supply (in the range of hundreds of millions) so it has the room to grow a few times. Additionally, Substratum will burn any excess tokens which will help keep the supply low.
The ICO raised $13.8 million dollars, which will be invested as follows:
According to the roadmap, the version 1 of the network will come out in December 2017 so the price is expected to rise after that. Version 2 is expected in early 2018.
In terms of the community around Substratum, this project seems to have a very strong community. SUB won the Community Coin of the Month on Binance, which is a major exchange platform.
As with any cryptocurrency, if you decide to invest in it, I highly recommend reading the whitepaper here. Also, look at the members of the team and their profile on the internet.
This is a solid project which I am personally invested in – I bought in at $0.14 and it currently sits within the $0.25 – $0.30, with an all-time high of approximately $0.38. This coin does not seem to have a great deal of short-term potential, but considering the roadmap and that 2 versions of their product will come out late 2017 and early 2018, I believe there is potential for SUB to grow in the next few months.
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