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PIRL Coin Developers Announce Poseidon

In Alt-Coin, Cryptocurrency, PIRL
pirl poseidon features
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PIRL.io developers announced today they are working on a new All-In-One platform that has numerous features related to the alt coin. Some of the features I am absolutely excited to see coming. So what’s the big deal with Poseidon anyways? Let’s check it out.

Pirl’s Very Own Marketplace

Staff member Mr. Fawkes (as known by on their discord) states:

“Poseidon will be host of the unique Marketplace where you will be able to do p2p trades in 100% safe environment. All trades will be utilizing an automated smart contract which will act as an escrow agent in all trades.”

So what does that mean for the average PIRL holding Joe? Think of it this way, something like Ebay or Fiverr, but with PIRL as the currency. The possibilities for this type of setup remain to be seen but you could speculate that one could offer physical products or services in exchange for PIRL.

According to Mr. Fawkes each seller will have the ability to create their own online store to sell their goods and services from. As with some of the other bigger names that have this capability, users will  have the ability to rate and leave feedback for sellers.

My concerns regarding the marketplace is, who moderates? Is the PIRL team readily staffed to make sure certain services or products are blocked from being sold on their marketplace. Being a skeptical individual, I see many areas where this system could and very well may fail if not done correctly.

Skepticism aside I do think this is an exciting opportunity for PIRL and hope they make the best of their marketplace.

The Payment Gateway

This is another feature of Poseidon that I am really excited about. It’s something that I wish would of worked for another cryptocurrency who just happened to bottom out recently. However, vendors moved away from them when the transaction fees became too unbearable.

You go to the store and use a debit or credit card for your purchase. What if you could use PIRL instead? While this may be an unlikely case in PIRL’s infancy, what excites me is the ability to use the currency for online purchases.

The hurdle with both this feature and the marketplace will be having the traction to get people to use their PIRL for these transactions. While PIRL is a stable currency thus far, there’s too much left unseen in the future to justify using these services from the start until the community see’s a larger influx of users.

Smart Contract Creator

Another feature of Poseidon is the smart contract creator that is said to be a “user friendly process” that walks you through the steps of creating the contract. PIRL hopes to work with the current developer team and the ever growing community to evolve this feature further in the future.

Decentralized Apps! (dApps)

PIRL will allow the creation of decentralized applications such as chat and cryptokitty alternatives on the PIRL platform (do we really need another cryptokitties!?). I look forward to seeing what other developers have up their sleeve when it comes to decentralized applications.

Currency Exchange

With all of the features thus far, PIRL says they will also offer an exchange on the Poseidon platform. In this exchange, persons with PIRL will be able to exchange for other cryptocurrencies. There is no word yet on which cryptocurrencies will be listed on the exchange. According to sources cryptocurrency additions will be based on a community input system.

To me, this is fantastic and should be a key thing any dev team should take away from this. Always, always, ALWAYS listen to your community.

The Poseidon Wallet

This is a quintessential part of the platform. As I understand from reading about the platform, you will need to create a wallet directly on the platform to use its features. There is a set 1% fee for withdraws from the wallet.

Masternode Control panel

I purposely left this as the last feature for a couple difference reasons. While Poseidon will allow the creation and offer the ability to manage a masternode. The average PIRL users will not ever need to know how these work or need the ability to create one.

To get a little better understanding of what a masternode is, you can read about it here.

To finalize my brief talk about masternodes, with every feature listed here, there is a fee to be paid. The masternode takes 50% of the fee and the other 50% is burned (poof!).

If you would like to setup a masternode do note that there’s a cool fee of 20,000 PIRL (which is essentially collateral) that is frozen in a wallet until the destruction of the masternode.

So, What do you think?

Let us know what you think about PIRL’s developments so far on this platform below. What are your likes and dislikes about this upcoming roll out?

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