Clams project purpose and description
What Is Clams?
Clams is an innovative payment network and a digital coin that is based on Litecoin, Dogecoin, and Bitcoin. Unlike many digital coins that are designed on the Bitcoin platform by copying the basic structure, Claims considers itself as an innovative variation meant to advance the blockchain network.
The blockchain network has been growing steadily as the need for more advanced technology in different areas grows.
The pioneer networks such as Litecoin and Bitcoin only demonstrated that it is possible to run transactions on a peer2peer basis. The new platforms are now building on the original crypto networks to deliver higher value to users.
- The creation of the Clams platform
Clams was developed in early 2014 and launched in 2014. The cryptocurrency took the initials CLAM which stands for Caritas Libertas Aequitas Monetas that translates to Freedom Fairness Equality Coins.
The philosophy of the coin was aimed to mean the first truly decentralized peer2peer value transfer network without centralized points of failure. The focus was to introduce a new method of sending value that every person could use and associate with.
The coin was introduced as an airdrop to the Litecoin, Dogecoin, and Bitcoin network. This implies that all the people who had some Bitcoins, Dogecoins, or Litecoin by the time of Clams release received a share of Claims.
- The price performance of Clams coin
The price of Clams has been impressive over the years. Between launch in August 2014 and nearly October 2018, the price of the coin grew with about 200%. The price started at $0.5 in August 2014 and grew significantly to $2.5 by December the same year.
By August of 2015, the price of Clams had grown further to reach $3.49 before sinking to $0.3 in November the same year. Then, the price stabilized at around $0.7 between February 2016 and February of 2017.
From March of 2017, the price took an upward trend that culminated to $13.6 on January 9th, 2018. This was the highest mark in the Clams’ history. But the top performance did not last.
Like other coins such as Bitcoin and Loopring in the industry, Clams value took a bearish trend that culminated to the $1.6 mark late in October 2018.
The community is optimistic that the value of Clams will finally take a positive trend because its system is an improvement of top performing coins such as Bitcoin and Litecoin. However, this is only speculation because growth is dependent on the prevailing market forces.
What is the problem that Clams Solves?
Clams platform was created at a time when cryptocurrencies were facing serious threats from both the cybercriminals and administrations. Here are some of the main problems that Clams addresses.
- Centralized mining through the use of ASIC equipment
While the decentralization approach used in the early networks was impressive, the advantages did not last. The development of ASIC mining equipment meant that only the people who could afford them would be able to mine, confirm transactions, and receive new coins.
The concept that founding portraits of blockchain technology had worked so hard to achieve was under threat. A new method of addressing the issue had to be sought promptly. The Clams developers opted to use a different consensus algorithm.
- Centralization of financial services
If you want to send funds using a common system such as banking or use of credit cards, services are centralized.
This implies that the system or data is managed through a central point that makes it is an easy target for attackers and other dangers such as the risk of failure.
The centralized system also implies that the process of sending funds is lengthy and expensive. Every cash transfer request has to be reviewed to ensure that the sender and recipient do not have criminal records related to fraud or terrorism.
- Poor scalability
Even after Bitcoin and Litecoin adopted a fully decentralized model to facilitate peer2peer transactions, the problem of poor scalability cropped up. Because the platforms require every transaction to be verified by majority nodes, the consensus takes long pulling the number of transactions that can be supported every second very low.
The Bitcoin platform can only support 7 transactions every second while Ethereum handles a slightly higher number of 20ntransatcions/ second.
When these figures are compared to what industrial leaders handle, it indicates that there is a lot of work that needs to be done. For example, Visa can handle more than 20,000 transactions per second.
- Poor adoption of the blockchain network
When many people talk about the blockchain niche, one might be tested to believe that the niche is progressing in the right direction. But that is the wrong perception. The truth is that many people find the process of joining and using cryptocurrencies very complex.
To buy cryptocurrencies, people are required to join the exchanges, open trading accounts, and fund them. Then they have to create cryptocurrency pairs before executing orders to buy Clams. This is very complex for many people.
How Does Clams Solve The Problem
Clams was created by borrowing the best points from Bitcoin, Litecoin, and Dogecoin so that it could effectively address the above issues. Here are some of the methods used to counter the myriads of problems facing the crypto niche.
- The proof of concept consensus model
A closer look at the above problems indicates that most of them arise from poor or lack of decentralization. To address them, Clams opted to deviate from the common proof of work (PoW) and proof of stake (PoS) consensus protocols to a new one referred to as proof of concept (PoC) model.
The proof of concept model is a variation of the proof of stake consensus. Under the system, the node to mine the system is selected randomly from the active nodes. This implies that holding the coins is not enough to give you an undue advantage over others. You need to be active in securing the network.
- A highly simplified CLAM blockchain setup
The process of joining many networks is very complicated. In some cases, people are required to run complex computing procedures that easily keep off non-technical people. However, joining the Clams network is simple and fast.
The interested user only needs to download the light client and install it on a computer. The client synchronizes with the entire network and links with other nodes so that users can start to mine or send value. It is because of this simplicity that a lot of users have been trooping into the platform and enhancing its good performance in the market.
- The CLAMspeech
The decentralized platforms are surrounded in mystery. In many cases, the network users only hear that there is a development team but there is no way to reach it. The CLAMspeech is a unique way of communicating on the network which helps the nodes to send custom messages or select from the list of messages to accompany new blocks.
What makes Clams better than it’s competitors?
When Clams entered the market in 2014, it had to fight for space with other giant cryptocurrencies of the time such as Bitcoin.
This competition has been growing progressively and the development team at Clams had to redefine its operations to outdo competitors. Here are some of the things that make Clams better than competitors
- The platform is completely decentralized
Unlike the centralized financial systems that operate as high risk entities, Clams relies on a network of nodes spread in the entire globe. The focus is ensuring there is no single point of failure. The decentralization has also helped to make the platform more secure, cheaper, and reliable.
- The platform has effectively addressed the problem of centralized mining
Centralized mining is referred to as the killer of blockchain projects. By adopting the proof of concept consensus algorithm, Clams has managed to evade the dangers associated with centralization such as the risk of 51% attack.
- The network allows users to use and own the platform
If you use a bank to send funds or save cash, there is a disconnect because the decisions are made by a separate party. In most of the cases, the goal is to optimize profitability either through add new rules. However, the Clams system does not belong to any one individual. As far as you have some stake and remain active, you will be called upon to help confirm transactions or vote when major decisions are being made.
- The Clams network has been in operation for years and its system proved to be stable
Because cryptocurrencies are operated as fully decentralized platforms, the only way to tell that the features in them are working and reliable is seeing them work.
This requires a period of more than three years so that pump and dump schemes will have faded off.
The Clams network has been in operation since 2014 and its features have been tested and proven to work. Therefore, you can join the network and operate without worrying about losing your Clams coins or getting attacked.
How can Clams be categorized
Clams can be categorized as a truly decentralized network that is helping to shape the blockchain niche. Starting from 2014 when the founders created the core code, the development team appears committed to progressively work on new features to help the industry grow.
For example, the platform was prompt to use the proof of concept consensus algorithm and CLAMspeech. The enthusiastic team that is keeping the innovation wheel running is part of the reason why Clams’ popularity has been rising steadily.
What’s Clams’ vision on Security?
The Clams’ vision of security is to run the platform in a completely decentralized and secure manner. The development team was cognizant of the threats from interested hackers who wanted to take advantage of the rising demand for crypto coins. Here are some of the methods used to keep the Clams secure.
- Advanced encryption
- Proof of concept consensus algorithm
- Regular update of the b Clams’ core code
Examples of Clams’ use cases / applications
The primary goal of creating cryptocurrencies was to ensure that as many people as possible can join and use them like the conventional currencies. This is only possible if the cryptocurrencies can be applied in multiple niches. Here are the main use cases of Clams.
- Use Clams coins to pay for goods and products in the market.
As more stores come out to support cryptocurrencies, people with Clams coins will be able to make direct purchases. Note that even in the event that only a different coin is supported, it is still possible to make a purchase by converting to the accepted token.
- Pay for transaction charges in the Clams network.
If you are sending value on the Clams network, a transaction fee is paid using the native coin. This is a very small fee used for supporting the development and motivating the miners in the Clams system. Note that this fee is very small compared to what the credit cards and banks charge.
- Stake the native coins to mine more coins.
If you want to mine more coins in the Clams network, you are required to buy some stake and keep your node active. Therefore, you should start by purchasing the Clams coins and then keep the computer running while waiting for your turn to mine next block.
- Use the coin to pay for government services.
Governments are changing their negative perceptions about cryptocurrencies. If you reside in a jurisdiction that supports cryptocurrencies, it is possible to pay for services with Clams coin. One good example is Arizona.
In April 2018, the Arizona government passed bill HB 1091 that allows users to pay for taxes using cryptocurrencies. When you pay taxes using Clams coin, they are converted to USD and credited to payer’s account.
In Singapore, you can also pay for government services after the administration indicated that there is no law that prevents sending of value using digital money. The primary goal is sending value.