Pandacoin is a name you may be familiar with if you’re a fan of altcoins.
In fact, up until recently, there were 3 different Pandacoins trading!
This particular Pandacoin that we’re talking about today (trading symbol PND) is led by a Dev Team that plans to unveil a major overhaul of their coin on August 30th. 2014.
Like many of its contemporaries, PND had a short-lived moment in the sun when it was first released in February of this year followed by a long slide into relative obscurity.
The coin has been a fully Proof-of-Stake coin since May 21, 2014.
Pandacoin boasts of a 12 member Dev Team. These team members will be responsible for technical advancement as well as for marketing. According to their ANN thread, Pandacoin plans on positioning themselves as ‘thought leaders‘ in the cryptocurrency space. That’s getting tougher to do each day as many teams now are working on coins that have advanced well beyond the current capabilities of PND. Their release will have to be a real blockbuster to keep up with some of the ‘big boys‘ in the altcoin arms race.
A brief review of Pandacoin’s github shows they have were busy on core development for the first few months of their existence. 118 contributors pushed over 3,000 commits. That showed a strong commitment to the developmental aspects of the project. This is a requirement in modern times for any altcoin project that plans on winning fans and gaining adoption. The commits all stopped 3 months ago. Despite that lull, their community has remained committed to the team.
A review of their official Twitter account shows many Tweets like this one:
Tweets for the month of August seem to follow this basic pattern. There’s not a ton of details about what their plan is. The coin price is rising based on accumulation before their announcement on August 30th. 2014. Speculation is the name of the game in a case like this.
People who are buying now have faith that the team will deliver. What they will deliver is anybody’s guess at this point.
“The inherent symbolism, underlying fundamentals and philosophies of Pandacoin (PND) allows it to serve as a gateway digital currency across multiple market segments and cultures (in particular South East Asia) that are unfamiliar with the fast paced and complex world of decentralized digital currency,” said the Pandacoin team in their announcement.
Naturally there’s no guarantee that this coin will undergo mass adoption in Asia. In the six months the coin has been around it has only garnered a 62 ranking on CoinMarketCap.com with a market cap of slightly over $262,000. With around 5 to 6 BTC of daily trading volume it seems safe to say that the coin has not met many of its objectives including the goal to be a stable and well-traded cryptocurrency that’s fit for every day use.
All of this could change with the new release. Some speculators obviously believe this will happen.
We’ll be watching for developments. Thanks for stopping by and reading. If you have any comments leave them below.