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What is DEP token? Is it good or bad? Continuing reading our article to find out the answer.

About DEAPcoin (DEP)?​

The DEA Project will provide the “PlayMining Platform” which is a blockchain based multimedia digital entertainment platform featuring digital arts, games, and various other forms of entertainment.

The “PlayMining Platform” is composed of three elements, namely the “DEA Bank,” the “Digital Art Auction,” and the “Game.” All three of these elements are linked with the Digital Entertainment Asset (hereinafter Digital Asset) owned by the user of the platform (hereinafter PlayMiners), and the platforms are designed to operate in an interconnected manner. Below is the description of each element.

The DeapCoin platform gives room for PlayMiners to earn in the Game Zone. There are specific settings and scenes in a game that rewards the player a specific amount of DEP tokens if won as directed by the smart contract. These scenes and special conditions include winning a quest or an in-game card, passing a task, or beating an existing record.

Who are the Founders of DeapCoin (DEP)?​

Naohito Yoshida founded the DeapCoin network. He is the Chief Executive Officer and established this development at the age of 28, alongside an anime company called GLAMS Co., Ltd. Although he is regarded as one of the pioneers of the animation industry in Japan, he was unfortunately diagnosed with cancer at 32. Tragedy struck again as he went bankrupt at 34; he bounced back by establishing three startups that offered human resources, content creation, and media ads to the public.

Alongside Naohito is Shigeru Shiina, the Co-founder who is profound for his works on AI research at NEC Central Research Laboratories. Another notable mention is Shinya Kiriu, the COO and attended the University of Tokyo.

Taishi Sato is the CPdM and Kozo Yamanda, the Co-founder and CSO.

Is DEP safe?​

The DeapCoin network is secured as there has been no evidence or recorded case of theft. They have several measures put in place to ensure the security remains intact and uptight, some of these measures include:

A system solely for receiving source code safety audits by a trusted external auditing organization. This is to ensure all boxes were checked to avoid any form of breach.

Like every consensus system used by Ethereum is the proof of work protocol that requires miners to compete to find a nonce for and the system only records blocks that have been successfully verified before they are later added to the existing blockchain. Although the Proof of Play has more effect.

However, this does not mean that it has been completely secure, hacks could happen anytime. There’s still room for improvement.

Pros and Cons of DEP​

Being a virtual currency, it still seems mysterious and untrustworthy to some. With so much hype around, you need to do your research and be fully aware of the pros and cons of investing in DEP before making any decision. Let’s learn about both bitcoin’s strengths and weaknesses, so you can make an informed decision.

Pros of DEAPcoin
  • They are fully decentralized
  • A lot of investors are ‘flocking’ to invest
  • It is listed on coinmarketcap
Cons of DEAPcoin
  • The coin is still under research and developments
  • Multiple issues with its synchronizations between ledgers
Is DEP a scam? Do you think it would be wise to invest some amount into DEP or are you better off investing elsewhere? Leave your impressions about DEP at the comment section down below.

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