Neutron (NTRN) is a project that enables developers to easily create cross-chain applications through the Inter-Blockchain Communication (IBC) protocol and brings the full financial security of Cosmos Hub to DeFi decentralized applications.
What is Neutron Coin?
Neutron is an unsupervised smart contract platform developed with Tendermint and Cosmos SDK. The platform is designed for inter-chain smart contract deployment and has native support for CosmWasm, Replicated Security (previously known as Interchain Security), and the Inter-Blockchain Communication (IBC) protocol.
The Replicated Security (RS) feature of Neutron brings the strong Proof of Stake consensus mechanism security of Cosmos Hub to developers. Cosmos Hub is a decentralized blockchain that provides vital ecosystem services for Cosmos through interoperability between different blockchains.
RS allows providers to create blocks for a consumer blockchain, in this case, Neutron, from a provider blockchain, in this case, Cosmos Hub. Node operators receive additional native tokens (ATOM) as incentives and can be penalized for failing to validate blocks for the consumer blockchain. Additionally, Neutron’s support for IBC, as well as Interchain Queries (ICQ) and Interchain Accounts (ICA), allows any smart contract deployed on the platform to seamlessly communicate with the rest of the IBC. It also enables complex operations such as cross-chain collateralization and cross-chain liquid staking.
ICQ allows smart contracts to securely retrieve information from remote blockchains without relying on third-party oracles. As a result, developers can create cross-chain applications in a very short time and at a very low cost using ICQ.
Smart contract developers generally need to choose a specific feature set and market based on the platform they choose to develop on. As a result, they create decentralized applications with limited potential determined by the features of the selected platform and the market. However, with Neutron, developers can access and use the feature sets of various chains through seamless interoperability features. They can also deploy to multiple markets simultaneously by deploying on Neutron. The platform sets itself apart from other smart contract platforms such as Juno and Evmos with its user-friendly interface and sophisticated trading tools.
NTRN Review
In July 2022, the Cosmos community voted on Proposal 72, accepting Neutron into its ecosystem and allocating 50,000 ATOM for its development. As a token of gratitude and to ensure good representation in the governance of the Cosmos Hub community, Neutron announced an AirDrop in which a total of 70 million tokens would be distributed to ATOM stakers. This corresponds to 7% of the total supply and 30% of the circulating supply at the time of writing.
To participate in the AirDrop at that time, participants had to have deposited at least 1 ATOM during the snapshot that took place at block number 12,900,000 on November 19, 2022. Those who voted on the Cosmos Proposal 72, whether directly or through a validator, were also eligible for the AirDrop. Please note that U.S. citizens, individuals subject to sanctions, and individuals residing in sanctioned countries were not eligible to participate in the AirDrop. In addition, validators and delegates affiliated with centralized cryptocurrency exchanges and custodians were also unable to participate.
The tokens will be distributed by opening their locks approximately nine days after the launch of the AirDrop on June 2, 2023, and will be distributed over a three-month period after being requested. Voting powers will also be activated during this period. The tokens were required to be claimed within three months after the launch of Neutron. Tokens that are not claimed will be returned to the Cosmos Hub community pool.
At the time of writing, NTRN is trading at $0.441 with a 24.56% increase in the last 24 hours. NTRN reached its all-time high (ATH) on October 10, 2023, at $0.5338 after being listed on Binance.
How to Buy NTRN Coin?
NTRN coin can be bought and sold quickly and securely through Binance, the world’s largest cryptocurrency exchange by trading volume. To buy NTRN coin, you first need to open an account on Binance (if you don’t already have one) and then deposit fiat currency into your account. After depositing a fiat currency such as Turkish Lira, US Dollar, or Euro into your user account on the cryptocurrency exchange, you can make a purchase through the trading pairs where NTRN coin is traded.
NTRN coin transactions are currently available on Binance in the NTRN/BTC, NTRN/USDT, and NTRN/BNB trading pairs as of October 10, 2023, at 15:00.
