Moonshot Week 4 – Finding a Pearl: Oyster Protocol (PRL)
To read the third part of our Moonshot series, which focuses on Dragonchain, click here.
Each week BTCManager and the JaketheCryptoKing intend to explore a new moonshot opportunity. We are on week four of this moonshot experiment! With markets as low as they are currently many coins in the coming months will yield significant returns because of the rebound. However, the goal is to find an altcoin that can truly “moon.” Two to three hundred percent returns are great but what about ten times your money in six months? These coins exist in the cryptocurrency marketplaces; they solely need to be found. Week 4’s Moonshot: Oyster Protocol – PRL.
The Condition of the Crypto Markets
The cryptocurrency markets are the perfect atmosphere to have the possibility of attaining returns more than 100 percent. Many who have been in the space had returns well in excess of 1000 percent last year. All of the major coins (BTC, LTC, ETH, etc.) from the beginning of 2017 to the end attained returns over 1000 percent. Even in a technological space that is getting more crowded daily, there is still the needle in a haystack find that can yield these massive returns. The last three moonshots were DBC, TNC, and DRGN all of whom shall continue to return above market averages as BTC rallies back.
Currently, bitcoin (BTC) has just suffered one of its greatest corrections in history having fallen more than 70 percent since it’s high of almost $20,000. Since, BTC has rebounded nicely which generally precedes a bull run following the Chinese New Year. To take advantage of this bull run make sure to hold DBC, TNC, DRGN, and now the newest moonshot PRL!
What is a Moonshot?
A moonshot is a coin that you believe is undervalued significantly with a great likelihood of achieving returns far higher than market alternatives. Prior moonshots included; DRGN, DBC, and TNC. DBC was a coin based on the NEO blockchain specializing in lowering the cost of artificial intelligence computing. While TNC is a scaling solution for NEO, similar to Raiden Network for Ethereum. DRGN was the newest addition to the Moonshot List Week 3. DRGN, the brainchild of Disney, specializes in helping existing companies implement the blockchain through either an ICO or an internal blockchain.
Incorporating a balanced portfolio with a few moonshots is an important aspect of diversification. Moonshots and ICOs are the riskiest aspect of the cryptocurrency markets and should only appeal to those investors that seek the highest risk, highest return investments. Moonshots are not the part of your portfolio that requires daily attention nor should they be day traded. This is technology and a team you believe in for the long haul. Until they take you to the moon.
It is always exciting when a cryptocurrency jumps over 100 percent. When the market is bullish small cap moonshots tend to rally producing much higher returns than BTC, however, during a correction they will also lose a much higher percentage than BTC. Moonshots should never be one’s entire portfolio but if you are choosing to invest/gamble in the cryptocurrency space, having a few moonshots creates a very exciting aspect to your portfolio. This week’s Moonshot, PRL, is a favorite for multiple reasons!
What is Oyster Protocol (PRL)?
To be a moonshot the cryptocurrency needs to have more than a cool name and ticker symbol. Oyster Protocol with a symbol of PRL seems to be off to a great start regarding their marketing; Oysters have pearls, seems logical. However, before predicting future value, an in-depth analysis of PRL and upcoming calendar events must be performed to determine its likelihood of producing exceptionally high returns in the coming months. What truly puts PRL on the map for March is their upcoming airdrop of the Oyster Shell (SHL). Their airdrop coupled with their business model makes PRL a solid March play with true mooning potential in the short term.
PRL is a cryptocurrency that incorporates IOTA Tangle and the Ethereum network. Its goal is to address the current standoff between advertisers and ad-blockers. The issue is that website hosts are losing significant revenue as ads are being blocked. The user is then faced with a choice, turn ad blockers off, or pay a monthly fee for no ads. PRL came up with an ingenious fix to the problem.
While the user is visiting the website, there will be no need for advertisements as a minuscule portion of the user’s processing power will be used to run “proof of work” for PRL’s encrypted secure data storage network. PRL has created a protocol where the user does not see ads but provides a revenue stream through unused processing power, while the website host receives revenue and pleases customers with no advertisements.
According to PRL’s press release, “Oyster’s primary operation is based off of the storage and is the first asset to be pegged to a known market value without a reserve or a centralized guarantor. Additionally, the operation of the core Oyster network inadvertently creates…the perfect environment of fostering decentralized communications.” PRL is in the perfect place to implement a new token for their Oyster meshnet. This new token will be airdropped for free to all PRL holders at a future date in March. This new token will be called the Oyster Shell (SHL).
PRL is a fantastic short- and long-term play with a significant likelihood of mooning in 2018. This is due to their ability to replace the common advertisement while still providing revenue to website hosts. This is a great business model as it is a current unresolved conflict between website hosts and their users. Neither the user nor the website host is impacted by the solution and both benefit, a true win-win. Their business plan coupled with the airdrop of the SHL make PRL this week’s moonshot!
Oyster Shell Airdrop (SHL)
An airdrop, in essence, is a dividend provided to holders of a specific coin. In this case, each holder of PRL will receive one SHL. Each SHL will be used to pay for connectivity and Dapp operation across the Oyster meshnet. Pearls have a different use; their purpose is for static data retention on the tangle protocol. PRL is pegged to the value of storage and ads while SHL is not pegged to either. The future purpose of the SHL will be to access the decentralized web, by doing so the user would completely bypass ISPs and centralized infrastructure. Think of how truly revolutionary this concept is.
SHL and PRL are providing a way for ads to disappear from web hosting and eventually intend to lead to a world without ISPs, centralized web monitoring, and centralized infrastructure. Revolutionary is an understatement. If PRL and SHL are able to do 50% of what they are hoping to accomplish they will change the internet, which was one of the most significant communication revolutions of our time. There are many possible uses for the SHL token, and the Oyster Protocol press release highlights a few of these.
Imagine wanting to call your friend in a decentralized and a secure way. There will be an app on your phone where using peer-to-peer (Bluetooth and Wi-Fi) the user can connect to another phone running Oyster. The call is made over the meshnet, bypassing the ISP. SHL tokens will be used to pay for connectivity instead of your monthly ISP bill. Having a call on the meshnet ensures no third party can trace, block, or listen to the call.
Airdrop Details PRL and SHL
SHL will not be sold via an ICO or be available at a future date. They are solely being provided to holders of PRL during the time of the airdrop. Every 1 PRL held on the blockchain during the time of the snapshot will receive an airdropped 1 SHL. Therefore, the total number of SHL will mirror the total number of PRL. Oyster Protocol has announced their whitepaper will be available at some point this week with specific exchange information to follow. Following the publication of the whitepaper or the announcement of exchange support for the airdrop, expect to see the value of PRL rise exponentially. The Shell whitepaper will supposedly be published in the next few days detailing the blockchain snapshot height, and the airdrop event.
Coin Burn Event
PRL has a fantastic business model that can allow users to avoid having to access what we all understand as the internet while also providing website hosts the ability to have a source of revenue while removing advertisements. Beyond a great business model, PRL also has an airdrop which always provides significant hype leading up to it. On top of all the great news. The cherry on top, they are holding a coin burn event where they are removing 10 million PRL from the supply. PRL is reducing the total supply of PRL just before the airdrop. By reducing supply at the peak of demand the price of PRL should genuinely see significant gains, simple economics.
Great news is an understatement. There is a whitepaper detailing the block height of the snapshot and details about the airdrop coming out within days. When websites install the one line of Oyster code to monetize their website and remove advertisements, they will earn both PRL and SHL. PRL would be a moonshot without having an airdrop and coin burn next month, based on their business model. However, an airdrop and coin burn provide two driving catalysts for demand while decreasing supply right as demand is peaking. At a price of $1.35 per PRL and a market cap of $95 million, PRL should see a significant rise in value in the coming few days leading in to the next few months.
Prior recent airdrops speak volumes regarding what to expect with PRL. NXT increased to over a $2 billion market cap immediately preceding the airdrop of IGNIS. ZCL was trading at under $5 in December prior to the announcement of the co-fork with BTC, creating BTCP. Now ZCL is trading at a market cap of approximately $500 million and rising quickly. It wouldn’t surprise the King to see PRL surpass the $200 million market cap before the airdrop. A return of 100 percent in the immediate short term and well over 500 percent in the long term would be the low end of what the King expects. This conclusion is drawn from comparing recent airdrops, PRL’s business model, and their likelihood to achieve market penetration. The only way to attain SHL is to buy PRL, watch PRL provide 100+ percent returns in the next month with their being no cap on how high it can moon in the long term.
To read the King’s prior articles, to find out which ICOs he currently recommends, or to get in contact directly with the King, you can on Twitter (@JbtheCryptoKing) or Reddit (ICO updates and Daily Reports).
To read the entire Moonshot series, click here.