This is the weekly “altcoin corner” article where we explore another project in the greater cryptocurrency ecosystem
Denarius (DNR) is a cryptocurrency that is only six months old and is looking to compete among the larger cryptos vying to become coins used for payment networks. Denarius features a new proof-of-work algorith called Tribus that is currently ASIC resistant developed by Carsen Klock, a 25 year old blockhain developer who has had experience working as a Dash coder. Denarius is also a proof-of-stake hybrid and is currently considering adding masternodes of 5,000 DNR each.
The Denarius community has been very active in promoting their crypto, and although the largest exchange they are currently available on is Cryptopia, they have been reaching out to other crypto communities and expect to be added to Komodo’s Barter DEX decentralized exchange within the next couple updates.
A host of built-in wallet features including stealth addresses and network monitoring
Their Qt wallet is feature rich, with their dashboard showing current market valuation in both Bitcoin and USD, as well as tabs that show the state of the network (proof-of-work and proof-of-stake difficulty and stake weight, as well as current hashing power updated in real time), a tab showing the proof-of-stake weight for all inputs, and a messaging tab. They offer stealth addresses for private transactions, and this crypto shows a lot of promise for a young coin. Whether they succeed as a payment crypto depends on the partnerships their young team can forge moving forward, but their Qt wallet syncs well with fast transaction times.
Proof-of-work phase-out plan and a small total supply
Denarius’ proof-of-stake will not fully kick in until block 3 million is reached, and will ultimately settle at 6% per year. The bulk of the coin production is currently produced by their Tribus proof-of-work algorith, and the coin supply has been capped at 10 million, making it a crypto that will tend toward a high coin valuation should they gain sufficient traction in the market. Their current market cap is around $5 million with a coin price currently around $2.40 USD. This makes Denarius a coin that is still speculative in value, although their planned inclusion in Barter DEX should cement DNR a solid small stake in the competitive sector it is currently seeking to break into.
If the enthusiasm of both their mining community and developers can be sustained, they could be a competitive crypto moving forward. Denarius is a small cap crypto worth considering when looking at new projects, a solid working Qt wallet with a dedicated young community and a solid brand that may resonate longterm with investors.