April 14th, 2017 – Version 1
Definition from the Latest Medium Update April, 2017
We will be incorporating multiple distributed ledger instances as sidechains within COVAL’s “Circuit Jumper” system in order for ₡OVAL to traverse in and out of other blockchains such as Ethereum and networks like Loyyal among others. But our base ₡OVAL currency is best suited to have presence on the most secure Bitcoin Blockchain while we innovate on how to move and materialize ₡OVAL elsewhere.
Now we can focus on the aforementioned interoperable strategies in addition to making traditional API based connections for practical redemption paths that everyday people can benefit from. We are actively working on integrations with popular services such as Zapier and IFTTT to let ₡OVAL owners spend normally as if using a credit card or loyalty points. This is low hanging fruit stuff that should be done without question for any project that wants to make a digital token useful and have utility for the people who possess it.
Community Enthusiasm – 2 out of 5
- The Slack is Regulary active with 225 members… high for a coin this obscure.
- The Bitcointalk thread is out of date and unused.
Active Development – 3 out of 5
- The devs are working in the background.
- The devs are providing updates using Medium as progress is made.
- The devs currently have no detailed Roadmap or Whitepaper published.
Exchanges – 1 out of 5
- Trading reestablished on Bittrex April 1, 2017.
- Price fluctuating between 100 sats and 150 sats since.
- The link above is an Online wallet currently for BTC, XCP & COVAL.
- IE worked for me, Opera did not. Try a different browser if issues.
- Website – https://coval.cc
- Slack Invite – http://synrgslack.herokuapp.com
- Blog – Best Place To Go For Info – https://medium.com/coval
- Bitcointalk – Out of Date – https://bitcointalk.org/index.php?topic=1594565.0
- Block Explorer – https://coval-explorer.mybluemix.net
- Roadmap – None
- Whitepapers – None
- GitHub – None
April 14th, 2017 Summary
If you have been around Crypto a while, you might remember RBR, or RibbitRewards, from the past. COVAL is the rebranded version of RBR. For a long time there was no news and the wallet on Bittrex, the only remaining exchange, was inactive. Late in 2016 there began to be rumors of a reemergence, and now in early 2017 we have seen some activity.
While very few actual details have been made public, one of the first steps is to make a multi-coin wallet and to have COVAL be able to transverse between chains. The following statement comes from their April 2017 Update.
“We will strive to achieve our goal of making ₡OVAL a useful currency that can be transformed in ways that allow it to permeate into apps, services, games, reward programs and many other incentive based and value transfer systems.”
Guess who found out about this coin too early? Yep… we did. With a billion coins and being so incomplete, I am surprised it is already over 100 sats. BitBay, with approximately the same number of coins, but years ahead project-wise, hovered around the same price until just a month ago.
At the moment investors are desperate to find any new low priced coin to make a quick buck, and the price of COVAL is certainly benefiting from that. At some point when there is a roadmap and other projects are building around COVAL, it may be worth over 100 sats, but I think even the developers would tell you there is a lot to do before the basics are completed.
Can you make money from COVAL? Sure, if you become familiar with the pumps and trade short term you can take advantage of the volatility. I am not sure I can recommend this as a long term hold at the moment though. It would make sense for the price to come down at some point when investors are not so desperate.