One thing is for sure; I’m hooked on masternodes. There’s been no shortage of affordable nodes, making it difficult to choose which to get into. I’ve been keeping my eye on specific segment of the market – emerging coins yet to be hyped, that have minimal active nodes on the network. If you’re able to find a solid project in its early stages (before too many nodes are online), it’s possible to capitalize on a rare opportunity to get an incredibly high ROI before masternode rewards are split amongst more and more peers.
Coins in this market segment are more risky than established coins. They’ve yet to find their market value and high ROI can force supply to quickly outpace demand – driving the price down. It’s hard to judge if development will continue after the first round of hype, as many are frequently abandoned in early pumps. However, if they’re well developed and continue to grow, they can also be extremely rewarding. Before you jump in, it’s important to weigh the possibilities and evaluate your acceptance of all eventualities.
Motion (XMN). is one of these coins. It’s a fresh coin being passionately developed with a growing community. I’ve mined this coin from the day it launched and have been following its progress closely. I’m excited to bring you my thoughts on XMN and hope you enjoy our review.
What is Motion?
Motion intends to provide individuals and corporations a platform to transfer assets, whether it be money, property, or shares from one party to another. They aim to do this by providing a platform to deploy RSK smart contracts which will allow users to perform these task at a much cheaper, safer and transparent way than traditional methods.
Motion is loosely based on DASH, a common starting point for masternode coins. Motion uses an ASIC resistant mining algorithm called X16R, which is actually a combination of 16 algorithms, ensuring its ASIC resistance for the foreseeable future. Rewards are divided 60/40 with masternodes getting a larger share than proof-of-work.
It’s essentially a brand new coin that launched in early May 2018. Its total supply is ~22m, a 4.8% premine of ~1m coins is going to the development team.
RSK Smart Contracts
Rootstock or RSK, as it is commonly referred to, was originally developed for the Bitcoin blockchain to utilize smart contracts on a side chain compatible with Bitcoin. Motion is adopting this methodology as a way to deploy smart contracts on its blockchain. This will allow Motion to provide its users with a host of services including: contracts, supply chain tracking, escrow services and asset tokenization.
Limited information is available on how Motion intends to deploy RSK and what features they plan to highlight. While it’s still in its early stages, it does have a promising future because RSK is an active project with broad goals for Bitcoin. Leveraging this open source project to serve as a backbone for Motion smart contracts limits the load on its development team and allows them to dedicate resources to the greater Motion ecosystem.
Motion’s masternodes require 1000 XMN as collateral and currently have an ROI of roughly 900%. Due to the age of this coin, I expect this number to decrease as more masternodes will inevitably be brought online. Currently, their masternode set up is a little clunky. They do have a script for installation which makes it less complex than compiling a wallet, but isn’t as easy as similar platforms.
There is some good news. They’re team is nearing completion on a much simplified masternode setup program that promises setup in 3 steps. Early screenshots of the platform have been released and I can’t wait to give it a shot.
Motion’s proof-of-work is on the X16R algorithm – which is actually a collection of 16 algorithms and is widely considered to be the leading edge for ASIC resistance. X16R constantly shifts between these 16 algorithms which makes it incredibly difficult to build an ASIC to mine it. Motion’s team is dedicated to ASIC resistance and will continue to evolve to keep it resistant if the need should arise.
In the spirit of decentralization, they’ve developed a one-click mining program. Inputing your address into the easy-to-use program is all that is required to start mining on most PC’s.
Due to the low supply and high demand of this coin, it seems to, at least recently, have a constant spot in the top 5 of most profitable coins to mine on whattomine.com.
XMN is currently trading on Crypto Bridge with a fair amount of volume for a coin this new. It also has a relatively low circulating supply. Seeing 4 or 5 BTC daily volume is quite impressive for a coin not listed on WorldCoinIndex or CoinMarketcap. The community doesn’t seem too eager to sell what little coins are available this early. This is causing the price to fluctuate wildly with an overall upward trend.
Development seems to be very active; their GitHub has frequent commits and they’re coming out with new pieces of software on a regular basis. They’ve released the one-click miner and have a drastically improved masternode setup system (due for release in the near future).
Smart contract and atomic swap development is slated for Q4 of 2018 and testnets expected to release Q1 2019.
The development team has chosen to remain anonymous and doesn’t openly volunteer information regarding the size or makeup of their team. This is generally a concern for me. With a coin this new, you’re really banking on the team’s ability to follow through on future development. Without information on their backgrounds, it’s hard to judge if they’ve got the talent or track record to follow through. Coins similar to this have been the target of developers who make a coin only to cash out on the first pump and abandon the project.
I can’t make up your mind for you on this front. I’d suggest jumping into the discord and getting to know them and make sure you’re comfortable with their skills and level of commitment.
XMN is brand new coin. With that newness comes a lot of opportunity as well as a significant amount of risk. Their goals are broad and appear achievable. Implementing smart contracts in conjunction with atomic swaps and masternodes is a segment of the market that could have numerous real world use cases. The dedication to decentralization is apparent and they’ve already taken steps to opening the platform to a wider audience through the one-click miner and simplified masternode setup. The community is growing quickly and is impressively active for a coin this new. Early adopters will enjoy a staggering *up to* 900% ROI but this will decrease as more nodes are added to the network.
There are some standard hurdles a new coin has to overcome to be successful long term and XMN is not immune. Exchange listings are getting more expensive, and competition is growing by the day.
The anonymous development team leaves some to be desired for confidence in the future of the project. While it’s common to see developers choose to remain anonymous, it tends to leave more questions than answers. Their early work has shown dedication. Time will tell if they’re in it for the long haul.
The ecosystem is coming together nicely, from the website to the wallet and software their is an intuitive contiguous theme. It’s rare to see a thoughtful detail to UX this early and I look forward to seeing the progress. Do yourself a favor and check out their website. Jump in their discord and ask questions. I think you’ll be impressed with you’re experience.
Cryptopatush’s Thoughts on Price History:
Motion is a really new project, it has been listed on Crypto-Bridge since May 18th 2018. There has been little of note about price action so far. One thin that has caught my eye is a beautiful case of resistance turning into support at exactly 15000 sat.
The Motion all time low (ATL) was 1300 sat and it had a nice run to its all time high (ATH) of 31000 sat. Price discovery for Motion has been interesting. It had a steady rise to its ATH. The price of XMN is reflected in it’s low supply. The current supply of Motion is low, paired with hard cap of 22,075,700 XMN. This puts XMN at on the lower-side of final coin supply when compared to the majority of coins in this class.
Predicting the future price of Motion is difficulty due to the limited history. One of the few assumptions that can be made is that XMN could consolidate above 15000 sat. That has already acted as a major support. I could see a higher price for Motion due to it‘s current market cap.
At the time of writing this review, the price per XMN sits at 19490 sat and has a circulating supply of about 422,720 XMN, which puts it at a marketcap of 633,405$ USD. Motion has many catalysts down the line which could be cause for price action, such as their 3-Step masternode setup.
This could increase the demand for Motion masternodes as it opens them up to a less technically savvy audience. This could benefit XMN demand in several ways, including more people wanting nodes and more of the supply being locked in masternodes.
Do your own research.
Visit their website: motionproject.org
Follow them on twitter: @Motion_Coin
This is not investment or financial advice, we are not financial advisers. This review is meant for educational purposes, independent research should be conducted as well as consultation with a financial adviser.
DISCLOSURE: We were compensated by XMN to write this review. Cryptopatush and I work to provide unbiased reviews and present projects in a fair way. However, in full transparency we will always disclose when we have been compensated to write a review.