Noah Coin is ranked just below the top 100 list as the 102nd-best currency in accordance with its market capitalization of 65.2 million dollars. NOAH might not be the most trending coin these days, however, it gained momentum with the recent rise against the fiat.
Once the market started to show signs of rebound, Noah Coin started to spike up reaching the amazing 70% of gains in the matter of a single day. Up until the recent case of events, NOAH resided among the top 100 coins being ranked as the 96th currency in the official ranking list, however not many people are familiar with this blockchain-based project.
Moreover, the team behind the project has most recently shared a press release on Medium, stating that the team is planning on bringing “cryptocurrency utopia” to life.
Noah Project is Building a Crypto Utopia
The latest rise spotted in the value of Noah Coin doesn’t appear to be much of a surprise once you digest the fact that Noah Project is planning on building a cryptocurrency city-wide blockchain-based ecosystem.
Correct, Noah Coin is taking on a project of, maybe, the largest proportions, aside from TRON’s “Decentralize the Web” project, by presenting the idea of creating a large physical ecosystem that would be running on blockchain-based assets, blockchain technology, and distributed ledger.
As the team representatives stated, the majority of cryptocurrency projects has a single main objective mirrored in the use case they are planning on bringing with blockchain technology.
Other blockchain foundations and startups are focusing on entire industries, like Ripple being focused on the financial and banking industry, aiming at becoming the top blockchain product/service/project in that area.
Noah seems to be planning n going beyond targeted industries and use cases by proposing a city-wide utilization of blockchain-based technology in order to create “cryptocurrency utopia”.
The team further added that the mentioned project is already underway and is in progress, being produced by Noah Foundation and Noah Project, neatly called Noah City.
Noah City will actually represent a cryptocurrency-driven real estate located in Manila, and Sol City, which is a crypto community in San Juan Puerto Rico.
New York Times also covered the news regarding Sol City, presented by the foundation as Noah City, claiming that there are already men selling their real estate and packing their bags in order to start a new tax-free life in cryptocurrency city.
The native currency of the city would be Noah Coin as described by Noah Foundation in the official post, while the team also provided the vision of how the city is supposed to be functioning.
Noah Coin to Become the Native Currency of Sol City “Noah City” Project
In the announcement regarding the cryptocurrency driven city, Sol City, otherwise known as Noah City, the foundation also described the way the city would be functioning, stating that Noah Coin will be the native currency of the city.
Moreover, the people living in the crypto-driven ecosystem will have a chance to use fiat and crypto, however, citizens using Noah Coin will get discounts on their transactions.
In the description of the blockchain city, the foundation added that the majority of operations will be deployed and executed with smart contract operations, as Noah Coin originally completed its token sale via utilization of smart contracts on Ethereum platform.
Smart contracts in Noah City will be used for most legal, administrative and financial transactions, while the team further added that the utilization of tokens in this city will further incentivize the network, as the offered token-based discounts should attract more community members to use Noah Coin and other cryptocurrencies.
It seems that the major reason behind the recent price pump behind NOAH definitely has something, if not everything, to do with the announcement of starting a cryptocurrency paradise.
Noah Coin in the Market
Noah is definitely gaining momentum with the latest rise in the market, probably caused by the announcement of Noah City (Sol City) on August 28th, the cryptocurrency utopia.
In the course of a single day, NOAH managed to climb up by 70% against the fiat, now being traded at the price of 0.0021$ per one unit. Noah Coin also showed an amazing progress against the fiat in the course of the last seven days with nearly 99% of gains, also scoring 130% in the period of the last two weeks.