Cryptocurrency Expanse (EXP): advantages and disadvantages

Expanse (EXP) is the first stable fork of the Ethereum network.

The blockchain of this cryptocurrency makes it easy to connect to it and create your own projects.

Platform Features

Tokens are generated in accordance with the Proof-of-Work protocol. For each block found, the user receives a reward of 8 EXP, with the total amount of Expanse being 11 million coins.

The project developers decided to provide coin holders with the opportunity to conclude Borderless Technology smart contracts. A special feature of the platform is its democratic approach, which allows all community members to take part in voting. People can defend their interests regarding the further development of cryptocurrency.

Interesting fact! The high decentralization of Expanse completely eliminates the possibility of interference in the operation of the service of government agencies.

Advantages and Disadvantages of Expanse

The advantages of the token include:

1. Using the principles of decentralization, which avoids control by government agencies.
2. Despite hacker attacks, the system demonstrated a high level of stability.
3. Cryptocurrency is in high demand among investors. Coin holders can easily sell or buy tokens on exchanges.
4. Expanse's liquidity is not only maintained by buyers. Interest in the token is shown by miners who mine it independently or with the help of pools.

However, the developers were unable to completely get rid of the shortcomings that the fork inherited from Ethereum:

1. Cryptocurrency buyers face sharp fluctuations in the value of the token. Rapid drops and rises in the value of Expanse lead to serious losses.
2. Security systems do not guarantee the complete safety of funds in user wallets. The cryptocurrency holder risks losing money if the software is hacked. To avoid losing access to the wallet, clients should keep the password in a safe place.
3. It is quite difficult for investors to predict the price of cryptocurrency.
4. To make money, miners are forced to buy expensive equipment due to the high complexity of mining.

Prerequisites

The consistently high popularity of the Ethereum platform leads to significant congestion. This fact, coupled with strict requirements for potential ICO campaigns, is the reason for the creation of lightweight but stable forks, the first of which was the Expanse ecosystem.

The continuous progressive development of the parent blockchain simplifies the functioning of derivative systems, since it provides them with easily integrated functionality through the adaptation of ready-made code.

What apps support Expanse?

Users can use the Expanse Rewards platform as a cold wallet. Coin owners are paid a profit, which depends on the amount in the account.

The system accrues a certain percentage on the balance of funds, provided that the client does not withdraw money for at least 6 months. Users' money will be invested in promising projects.

There are 2 applications: Votelock and Borderless Identity Management, which are designed for voting. To launch an ICO, you can use the TokenLab program.

You need to know this! With Expanse Rewards, users can earn passive income in the form of interest. The amount of profit depends on the amount in the client’s account.

Future of the project

The future of Expanse is predicted by the crypto world community to be positive. The general trends in the growth of cryptocurrencies, coupled with advanced technologies, rapid development of equipment, and the use of the Ethereum base, leave a positive outlook. There are many statements from miners regarding the serviceability of payments, the well-established technical side of the process, and the high-quality interaction between links.

Ordinary users of IT technologies can afford to become part of the Expanse world and have virtually passive income from mining, with additional prospects for growth on the course. And most importantly, they have the opportunity to choose among many cryptocurrencies that are expecting great growth, among which Expanse occupies its niche.

How to make money from mining

Expansa mining technology is practically no different from Ethereum. Users can use the Ethminer application, which will only work on Nvidia graphics cards. Moreover, the profitability of mining is constantly decreasing and people have to look for more promising projects in terms of mining.

There are 2 types of accounts in the Expanse decentralized system:

• external (requires private keys for authorization);
• contract (you need to enter a code to gain access).

The developers introduced the concept of “gas”, which is necessary to pay commissions. It is used as a unit of account. It is also the fuel for smart contracts; calculations are paid for in gas.

The miner's profit depends on the amount of reward that the pool pays, dividing the reward for the found block. For each transaction, the user is charged a certain amount of gas.

You can calculate efficiency using a calculator that estimates the user’s potential income.

The following parameters are taken into account:

• hashrate of the video card used for cryptocurrency mining;
• cost of the found block;
• pool commission.

You need to know this! Experienced users recommend using EXP ETH Miner or Claymore Miner for mining.

Cryptocurrency Expanse Prospects

The developers did not completely manage to eliminate the weaknesses that were identified after the release of Ethereum. High volatility attracts speculators who make money from operations with Expanse. Investors who use tokens for long-term investments have a completely different attitude towards price jumps. A sharp drop in prices can lead to serious losses.

Miners note a constant increase in the difficulty of token mining. To make a profit, users are forced to buy more modern equipment. Profits from coin mining are decreasing due to increased energy costs.

To simplify the process of calculating personal remuneration, it is recommended to use a calculator.

Important! The drop in mining profitability affected more than just EXP. This trend is also happening with other cryptocurrencies.

On which exchanges can the token be exchanged?

About 60% of transactions related to the purchase and sale of a token take place on the Bittrex exchange. The coin can be purchased on Poloniex, Bleutrade and Cryptopia. The idea of ​​the developers was to create a decentralized organization. The Expanse community regularly pays out rewards to its members. All coin holders are interested in the development of the project.

The founders of Expanse decided to issue tokens without an ICO. Some users are still trying to mine coins on their own. But this way of earning money often turns out to be ineffective. To find blocks you need to use serious computing power.

Most users are forced to turn to pools that distribute profits between participants. Services charge a certain commission for their services.

Why shouldn’t you store all your funds on a wallet or exchange?

People should consider the risks associated with holding EXP cryptocurrency.

Hackers can withdraw funds from a user's wallet. The main goal of attackers is to obtain the key that provides access to the account. Cryptocurrency exchanges are not immune to hacking. Cases of theft of funds from service accounts led to legal proceedings.

If suspicion arises, exchange owners can block a participant’s account.

People lose their money due to fraudulent schemes carried out by other users. There is a possibility of a scam of the resource where the earned coins are located.

For authorization, cryptocurrency exchanges require you to specify a mailbox, which can be hacked. To deceive people, attackers create phishing pages. An inattentive user may confuse it with a real site and enter his username and password.

An example is the NiceHash pool, which was subject to a hacker attack. The attackers managed to withdraw a large amount from the service’s accounts.

Story

Expanse was founded by three well-known crypto enthusiasts in 2015.

Christopher Franco is one of the first and most experienced developers in the blockchain space.

He was assisted by James Clayton . He also created the Cryptocurrency Collectors Club, one of the largest and most popular cryptocurrency publics on Facebook.

This trinity is completed by another blockchain expert Dan Conway .

Expanse appeared as a result of the ethereum fork. The cryptocurrency expanded due to the efforts of the community itself. According to its developers, the main goal was the desire to build a stable and fast blockchain on which one could implement one’s own crypto projects and ideas. To do this, they used DAO - Decentralized Autonomous Organization.

3 years later, Expanse has grown into an entire ecosystem . The founders claim that the cryptocurrency has even surpassed its predecessor, ethereum, whose blockchain is constantly facing overloads.

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How to choose a pool for EXP mining

There are several factors to consider before registering:

1. The number of coins that a participant can mine depends on the power of the equipment. Mining using an old computer is initially an unprofitable activity. The profit gained from such equipment will not cover the cost of electricity.
2. Study the fees that the service charges users.
3. It is best to choose pools in which payments are made automatically.
4. New projects need to be assessed for reliability, as owners may refuse to fulfill their obligations.

The procedure for connecting to the Expanse mining pool can be divided into several stages:

1. First, the user must register in the system and download the mining program.
2. You need to create a wallet into which you can withdraw earned tokens.
3. After installing the client, you need to change the settings based on the selected pool.

2Miners

The project can be used for mining 14 types of cryptocurrencies. The minimum payout amount is 0.1 EXP. Beginner users can easily set up the system on their computer.

Instructions in Russian attract a large number of users from Russia. Technical support responds fairly quickly to problems that miners encounter.

The service commission ranges from 1% to 1.5% depending on the pool. The user can set 2 coin mining options in the settings: PPLNS and SOLO.

Dwarfpool

The owners of the service provide participants with the opportunity to mine 4 cryptocurrencies: Monero, Ethereum, Zcash, Expanse. The pool commission for miners who decide to earn EXP is 1%.

To become a full-fledged member of the service, you need to download a program that supports an Nvidia video card. People will not have to register on the site. The user's wallet is used as a login, which will be used to withdraw earned coins.

MinerPool

Many miners prefer to mine EXP using MinerPool. Clients will not have to waste time registering. You just need to specify in the program settings the address of the wallet to which payments will be made. The minimum amount that can be withdrawn to your wallet is 1 EXP. For its services, the pool will retain 1% of the amount earned.

Where to store

The team recommends several options for storing EXP.

For desktop wallets, you can use the official wallet, the installer of which is on the website.

When it comes to online wallets, it is better to use a universal solution and store cryptocurrency in wallets on Myetherwallet, Coinomi, MyCrypto.

There are also several hardware storages on which expanse is stored. These include Ledgerwallet and Trezor.

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