What Is Tau? - My Only Other Crypto Investment
It's important to clarify which "Tau" cryptocurrency you're referring to, as there can be some confusion in the crypto space with similar-sounding projects or tickers.
Based on the information available, the most prominent cryptocurrency associated with the ticker "TAU" is Lamden (TAU).
Here's a breakdown of what Lamden (TAU) is, its features, and some considerations regarding its investment potential:
What is Lamden (TAU)?
Lamden (TAU) is a cryptocurrency project focused on providing developer tools to simplify the creation and deployment of blockchain-based applications. Its goal is to make blockchain development as easy as using established programming languages like Python.
Key aspects of Lamden:
Developer-centric: Lamden aims to create a suite of tools and frameworks, including a blockchain development platform, a smart contract programming language, and deployment/testing tools.
Simplifying dApp development: The project seeks to make it easier for developers to build and deploy decentralized applications (dApps) and for organizations to leverage blockchain technology.
TAU token utility: The TAU token is the native utility token of the Lamden blockchain. Its primary use is to pay for transactions and interactions within the Lamden ecosystem, including with Lamden dApps.
Key Features of Lamden (TAU)
Lamden's vision revolves around addressing challenges in existing blockchain architecture, such as slow transaction rates and high resource consumption. Its proposed solutions include:
Saffron: A generator tool for deploying private chains on an internal network.
Flora: A central repository for smart contract templates, packages, and private chain naming services.
Clove: Handles payment channel swaps between chains and facilitates decentralized communication between blockchain apps.
Focus on ease of use: The project emphasizes providing an accessible environment for developers, similar to popular programming languages.
Investment Considerations for Lamden (TAU)
When considering any cryptocurrency as an investment, it's crucial to do your own thorough research (DYOR) and understand the risks involved. Here are some points specific to Lamden (TAU):
Market Status: As of current data, Lamden (TAU) appears to have relatively low trading volume and its data is sometimes marked as "Untracked" on major crypto data sites due to inactivity or insufficient data. This suggests limited market interest and liquidity.
Circulating Supply: The project reports a circulating supply of around 142 million TAU tokens out of a total supply of around 248 million.
Price History: Lamden (TAU) reached an all-time high of $1.73 in January 2018, which was over 7 years ago. Its current price is significantly lower, indicating a substantial decline since its peak.
Development Activity: While the initial goals were ambitious, it's important to investigate the current development activity, community engagement, and progress on their stated roadmap. A lack of consistent updates or active community presence can be a red flag.
Competition: The blockchain development tools space is highly competitive, with many established and emerging platforms offering similar or more advanced features.
Unverified Data: Some sources indicate that CoinMarketCap has not verified the project's circulating supply, which can make it harder to assess its true market capitalization and value.
In summary, if your only other crypto investment is TAU, it's crucial to understand its current position in the market. While it had an ambitious vision for simplifying blockchain development, its current market activity and price performance suggest it's a very high-risk investment. It's advisable to thoroughly research the project's current status, community, and any recent developments to make an informed decision.
Please note: This information is for educational purposes only and should not be considered financial advice. Cryptocurrency investments are highly volatile and carry significant risks. Always consult with a qualified financial advisor before making any investment decisions.