August 17th, 2017 – Version 2
Definition from https://www.creativechain.org/whitepaper/ Web Site
Creativechain is a decentralized platform for the registration and distribution of content that certifies the authorship and license of any work or creation making them indelible. A tool for the empowerment of artists and all kinds of creative people who produce, share and distribute digital content. The platform applies the power of attorney of the revolutionary Blockchain technology in the process of registering content to create incorruptible time stamps that certify the intellectual property of any digital work.
Creativechain incorporates all the advantages derived from the innovation of crypto coins. In this way, without the need to use bank accounts, purchases, micropayments or donations can be made to the authors of the registered contents.
For the platform, creative chains are the ability of art and culture to interweave any kind of intellectual creation. When it is decided to use a copyleft licensed image to complete a new work of art, an invisible link is created that unites these two works forever.
Community Enthusiasm – 2.5 out of 5
- There is no ‘active’ Slack.
- The Telegram channel has 495 current members.
- The Bitcointalk thread is Regularly active.
Active Development – 4 out of 5
- The devs are working in the background.
- The devs are making progress and updating GitHub.
- There is a Roadmap & Whitepaper.
Exchanges – 2 out of 5
- CREA is a new coin with an ICO price between 2000 & 2500 sats.
- The price has moved up and down erratically between 5k and 9k since.
- Price spiked to over 16k sats in mid-June.
Wallets – https://www.creativechain.org/project/
- Windows wallet
- Apple wallet
- Linux wallet
- Android wallet
- Website – https://www.creativechain.org/project/
- Telegram – https://telegram.me/CreativeChain
- Bitcointalk – https://bitcointalk.org/index.php?topic=1809920.0
- Block Explorer – https://search.creativechain.net/
- Roadmap – https://www.creativechain.org/roadmap/
- Whitepaper – https://www.creativechain.org/whitepaper/
- GitHub – https://github.com/creativechain
August 17, 2017 Summary (v2)
When I first read about CreativeChain I immediately thought about Steem and LBRY. It appears to serve the same function of distributing Music, Literature, Video and Artwork using the Blockchain and giving you the ability to purchase or tip your favorite contributors. Where CREA goes a step further is to also effectively prove ownership of these works permanently on the Blockchain using the power of attorney to lawfully record contributions. This eliminates the centralized government’s assertion that they are the only ones who can lawfully decide who owns intellectual property. The Blockchain is an ideal place to store intellectual rights. It is cheap, permanent, and cannot be altered.
Creativechain has regular updates to their code on GitHub and are using the 2016 Bitcoin core code. Most other coins are still using the 2012 code. For me, this adds legitimacy to the project. There are many illegitimate coins using the 2012 code because it is easy to copy from other working projects. Using the 2016 code shows they are interested in using the latest technology and are experienced enough to work with it.
In addition, they are adding improved security, which shows they care about the future where hackers using quantum computers will be working hard to find a way to break into blockchains. 99% of coins, including Bitcoin, are using SHA-2 hash, developed in 2002, for encryption. CREA is implementing SHA-3 Keccak, the next generation of encryption recommended by the NSA.
So let’s review…
BCT thread, check
Priced right (unpumped), check
Roadmap & Whitepaper, check
What is missing? This is a new coin, and two important pieces will need to be added. First, the community is small with no ‘active’ Slack channel, which seems odd. Second, it needs to get added to Bittrex or a couple more small exchanges… however, if it was on Bittrex, the price might be higher, so at the moment I can appreciate the low price, even if it means I have to use Cryptopia to buy.
CREA is new without an established price, and with the volatility in the crypto market at the moment, you may be able to get some at a discount with patience. It is similar to LBRY and Steem in many ways, and if you follow those coins you know they have been beaten down and built back up over and over. Creativechain may experience the same turbulence. Be careful when you buy and don’t try to catch it on the way down. I would wait for a strong bottom with lots of support to buy. It is not too far up from its ICO price so you are not likely to have a lot of people dumping their ICO coins like you sometimes see with new coins.