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Why ActumCrypto isn't a startup (and why other cryptocurrencies shouldn't be one either)

By Ryan Shane on 2018-03-30

Several people have already assumed that ActumCrypto is a startup. While that is wrong, it's not their fault, as many cryptocurrencies are startups. So, why is it that ActumCrypto isn't a startup, and why do I think that other cryptocurrencies shouldn't be startups?

To explain this, let's go back a couple steps. Cryptocurrencies were created to be faster, more secure, and separate from traditional currencies. They also tried to be decentralized, meaning no one body controls the currency.

Of course, if you have a company, a startup, that "runs" the blockchain, then they are the central force.

That doesn't sound too bad. Why do we want to avoid this?
A central company in control of the blockchain can do a variety of things to the users. They can collect data more easily, stop certain transactions, and charge more/less transaction fees. (Even though ActumCrypto has no fees)

Can't a large enough group of miners do the same thing?
Not as easily, because they need to be a much larger group and start at a disadvantage. While this would still be a possibility, one method of centralization would be eliminated. (Also the round-robin mining used by ActumCrypto makes that harder as well!)

But how can the developer(s) be rewarded for their work? They would have no reason to develop a cryptocurrency.
They can still make money off of the initial offering, from trading their cryptocurrency and from mining their own cryptocurrency.