BlitzCash (BLITZ) confirmed to be the first side-chain on Stratis - Steemit competitor too???

News from the Stratis ecosystem: The first side-chains are coming on the Stratis blockchain, and BlitzCash (BLITZ) will be the first sidechain to move to Stratis. BlitzCash appears to be an existing cryptocurrency, with a market cap of $11 million USD, currently ranked 345 on Coinmarketcap.

This news comes from communitymember Khilone who has close contacts with the Stratis team. He tweeted an excerpt from the Stratis Slack with some comments by the CEO of Stratis:

As a holder of STRAT this is of course very interesting to me, so I had a look at BlitzCash to see what it is. It currently has about $11 million market cap. It's actually tradeable on Bittrex, and only on Bittrex according to www.coinmarketcap.com.

It is, of course, a payment method first and foremost as the name BlitzCash implies. But it actually has a lot more under the hood as well, like a Steemit competitor, it seems, called 'The Viral Exchange' which (in their words):

"aims to be the industry standard in increasing social media presence and driving users to websites. It allows for businesses and individuals to increase their social media exposure and following by giving users an incentive to view, like, share, and follow their accounts, pages, videos, and websites."

Essentially it's a market place where you are shown social media, and you can earn rewards participating in the viewing and sharing of content. It's not Steemit per se, because The Viral Exchange applies to multiple social media sites already in existence. They claim that users will be able to earn Bitcoin, NXT and Blitz by using their existing Facebook, Twitter, Google+ and Youtube accounts.

In addition to that, it also mentions 'Fitalize' on the Blitzcash site. Fitalize allowed users to earn BlitzCash by walking/running with a GPS enabled device. It seems like this service is no longer available today (which seems smart to me.. I think a programmer could make the GPS run infinitely if they wanted to). Other disabled services also appear on their site: Something called BlitzPay and BlitzMM but both are no longer available.

BlitzCash itself is not too bad of a currency for hodlers. It has PoS rewards of 10% a year, and they also have something called Blitzrewards, which are payments that you can receive for locking up 15K coins. Blitz rewards currently receive 20% of the payments from The Viral Exchange.

It looks like BlitzCash is a project with a long history, and now they are moving their project to the Stratis blockchain. The Viral Exchange project is an interesting one actually, and it appears to be already online and working although I have yet to try it out myself.

I am not sure what to think of the apparant flipflopping of BlitzCash though. First being a NXT token, now switching to STRAT is one thing, but when I see a multitude of previous projects that have been abandoned it does not inspire much faith in the current project. Regardless, I am excited to see BlitzCash come to the Stratis blockchain as the first official side-chain. It looks to be an actual project with some merit, too, which is a great thing. Let's just hope they don't abandon this project too!

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