Ink (INK)

Posted by

Ink has been born from a company called Ink Labs Foundation. The parenting company run a marketplace designed for users to credibly buy and sell unwanted goods using in app credits.

Our Joke Name

Ink = To the bone

Basic Intro

Link to the main website

Link to price/market cap

Exchange Ticker (INK)

Coin or Token

Circulating Supply (463 Million)

Max Supply (1 Billion)

Block time (under 60 seconds)

Market Cap Ranking

Review

Ink has been born from a company called Ink Labs Foundation. The parenting company run a marketplace designed for users to credibly buy and sell unwanted goods using in app credits. And this is where Ink finds its market. Ink Tokens are designed for use as the transactional method with in market places, with its own inbuilt review and trust system the ERC20 based token has some very real use cases.

Key Features

  • Inbuilt trust system
  • Intermediary parties

Inbuilt trust system

The Ink token is build using the Ethereum blockchain and in turn uses an Ethereum address, This address is effectively the identity for the users when they register for any market place that is adopting of Ink and the address is verifiable since all purchases will be received and sent by that address.

Users of a market place that adopts Ink are able to leave reviews with every purchase which is stored within the transactional information as part of the smart contract.

Another attractive appeal about Ink coin for developing marketplaces is that any marketplace that adopts Ink Tokens as form of payment will already have a prebuilt trust and review system.

Intermediary parties

Ink Tokens are kind of like getting a $20 voucher as a present, Those tokens can only be spent on marketplaces that have adopted Ink as a method of payment. Where as $20 can be spent anywhere that accepts fiat currency making it way more useful. Ebay and Amazon will always have fiat in exchange for goods and in doing so it makes the purchasing process easier. While it’s not a huge con since it is currently a minor player, I would assume that upon seeking larger adoption a few things might need to be changed.

Key Team Members

  • Tsukikawa Yuu
  • Walter Komarek
  • Choi June

Summary

Ink is a promising coin, With active adoption in a 10 million user marketplace it shows a working product and has a strong road map ahead. It may face some problems with larger markets but what it’s got going right now is working.

Pros

  • Developing marketplaces
  • Free market

Cons

  • No physical or digital backing (asset, profits, commodity)
  • Needs larger adoption