CoinGecko and Masternodes.Online rank AXEL as the 8th largest Masternode Project by Market Capitalization
Las Vegas, NV, January 16, 2020
Concluding an already eventful year, AXEL, the company behind the AXEL Network, made the list of Top 10 Masternode projects in the CoinGecko Yearly Report for 2019. AXEL held the eighth spot with a $16.8 million market cap. This is the third Yearly Report released by CoinGecko and the second year in a row they have collaborated with Masternodes. Online to add insights on masternode projects specifically.
“Our team worked hard to build out the AXEL Network,” says President and CTO of AXEL, Ben Ow. “Being recognized by Coingecko and Masternodes.Online as a Top 10 masternode project is a testament to those efforts.“
CoinGecko, a premier cryptocurrency statistics and ranking website, was founded in 2014 and has steadily grown to become one of the most trusted crypto services available. Known for its accuracy and impartiality, CoinGecko lists over 6,500 cryptocurrencies on its massive index and displays only the data, such as circulating supply, which its team has been able to verify
Masternodes.online, the most popular Masternode project monitoring site, was created in 2017 and is the authoritative source of information on Masternodes. It currently tracks data for over 340 Masternode projects and is a valuable tool for potential Masternode operators.
Masternode projects have differentiated themselves from other cryptocurrency projects in the way they incentivize people to participate and add value to a project or network. They only require the participant pledge hardware, usually in the form of a server, and a predefined quantity of the project’s tokens. The hardware provides value to the project, while the requirement of a set number of tokens allows anyone to participate on an even playing field. Participants typically receive rewards for their efforts in the form of the project’s token. In AXEL’s case, AXEL Token rewards can be used to transfer data through the AXEL decentralized network privately and securely.
“The AXEL Network becomes more powerful and more decentralized with each new participant who operates an AXEL masternode and they are rewarded with AXEL Tokens for doing so. AXEL Tokens are what provide the ‘fuel’ to move data across our global network,” notes Ow. “Essentially, these participants help build a stronger network that they can then use to store and share their own data by using the AXEL Tokens they’ve earned.”