August 24th, 2017 – Version 1
Definition from http://unifycryptocurrency.com
Unify is a cryptocurrency that successfully launched on June 14th, 2017. Unify aims to create a network that can be easily used by anyone, regardless of their understanding of cryptocurrencies. Our goals include a marketplace for buying and selling Unify with your credit card, trading to fiat currencies, a vast marketplace where you can buy digital & physical goods by paying with Unify and much more. And although this all takes time, to date Unify has done in months what many cryptocurrencies have taken years to do. This can be attributed to extremely dedicated dev who have spent endless hours making sure Unify not only continues to grow but improve along the way.
Community Enthusiasm – 3.5 out of 5
- There is a Telegram Channel with 245 enthusiastic members who told me they were worth more than my original score of 2.5, so I bumped them up a point.
- Bitcointalk thread is Very active.
Active Development – 2.5 out of 5
- The project is looking for developers to do some work.
- There is a responsive Team Lead available to the community.
- There is a Roadmap with future plans.
Exchanges – 2.5 out of 5
- UNIFY has historically hovered between 500 & 800 sats
- BTC Price briefly popped over 2000 sats in July 2017.
- Website – http://unifycryptocurrency.com
- Telegram – https://t.me/joinchat/FYtJO0Ls6GxxJSvdXxjIeQ
- Bitcointalk – https://bitcointalk.org/index.php?topic=1969629.0
- Block Explorer – http://unifywebwallet.com:5559/
- Roadmap – Posted in the Bitcointalk main thread above
- GitHub – https://github.com/SBDomains/unify-source
August 24th, 2017 Summary
UNIFY is just about complete with the initial setup of their coin. They have working wallets, are listed on a couple exchanges, have working mining pools, and have an active community. There is a new nearly complete website released, and the quest for being listed on more exchanges is in progress.
The coin plans to move from the current PoW mining to a PoS platform in the near future. The devs are trying to get that accomplished, but need development help to make it happen. If this is something you can help with you may want to contact them. They seem to actually be a bit ahead of their Roadmap dates, which is unusual in crypto.
The real challenge for this coin is the marketplace they have scheduled to be worked on in Q2 2018. From working closely with BitBay, I know the challenges they face. It could take a long time to get it right. The main issue any crypto marketplace will need to contend with is how to create a steady currency to use that is not up 25% today (causing buyers to stop buying) and down 30% tomorrow (so sellers stop selling).
The marketplace segment of crypto is becoming crowded. UNIFY will be competing with many projects years ahead of them. One feature they are promising which would make them a desirable place to shop is the ability to buy UNIFY with a credit card. The crypto community is always looking for non-exchange ways to make currency purchases.
The current price around 500 sats for a coin with a total supply of just 18 million coins seems reasonable. Even though the BTC price is similar to BitBay, there are over 50x more BAY coins, so remember to use the Market Cap when comparing the value of any other competing currencies.
I think it is worth watching to see where Unify goes from here. The project is in the very beginning stages and has ambitious goals. The community associated with a marketplace coin is critical. They will be the foundation… the first ones to use the application. If they continue to attract more people enthusiastic about the project as it matures, and successfully keeps things simple, the project may catch up to the competition.