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Pieta – ICO Detailed Information


ICO Pieta
Pieta Since they originally appeared almost 11 years ago, cryptocurrencies have been promising a change that would make the world a better place for everyone. They offer a number of benefits over traditional finances, including lower transaction fees, decentralization, as well as the ability to reach everyone, whether or not they have access to the bank.
Start July 3, 2019
End September 30, 2019
Rating 3.9
Status
KYC No
Founded
Categories Mining
Whitepaper No
Discussion

Pieta Overview

ICO description, Technical Details and Documents

Pieta: Solar Mining With New Algorithm


Pieta is a Saudi Arabian startup that strives to make crypto mining substantially more cost-effective through the use of renewable solar energy. To that end, the Pieta team designed a blockchain ecosystem that exploits a new algorithm named X20 that significantly expedites the process of mining, minimizes the expenses on electricity and equipment cooling, and makes this activity much more eco-friendly in general.

To obtain the funds, sufficient for further realization of this ambitious, yet challenging, project, Pieta is presently offering the native ERC-20 tokens, named PITC, for sale within the framework of the ICO.

The solar mining algorithm


At the core of the Pieta’s mining solution sits the X20 algorithm, which significantly reduces the time required to verify a transaction, thanks to the use of the so-called 20 rounds of hashes. In addition, it lowers the probability of the processor overload in Pieta’s mining equipment, allows for better cooling properties and reduces transaction fees to a negligible amount.

Moreover, this algorithm helps to mitigate the risks associated with the volatility of cryptocurrencies, which leads to more stable mining profits and easier adoption of PITC tokens by businesses. The project paper doesn’t specify which mining equipment will be used, but it is safe to assume that it would be standard mining rigs of some scale.

PITC comes in the form of loyalty tokens which serve as a reward for users who contribute to the development of Pieta; they are also accepted as means of payment for various services and can be exchanged to Ethereum.  

The Pieta team


Rawi Alsayed. The founder of Pieta. After graduating from King Faisal University with a degree in sociology, Alsayed worked for 10 years as a general manager at Alraabihin Co and Ajiel Tabah. Pieta is his first serious experience in the area of blockchain.

Mahmoud Ramadan. The CEO and Lead Blockchain Developer. Holds a BA degree in computer programming from Alexandria University. Worked together with Alsayed at Ajiel Tabah until 2017, then joined Pieta as a leading tech specialist.

Roadmap implementation


The founding team began elaborating the concept of the Pieta platform in January 2018. By September of the same year, the startup had already recruited a team, studied the market, and designed the Pieta Coin as a fork of Bitcoin. From that time till present, Pieta had released the whitepaper, carried out a pre-ICO sale of PITC, and opened the project head office, which consumes solar-based electricity. After the completion of the ICO, Pieta wants to construct several solar plants in Africa, and then release a fully-featured digital wallet and mobile application, due to happen by November 2019.

Social media presence


Pieta is particularly active on Facebook, where the project has gathered an audience of 8,431 followers, though the response rate to their publications, which appear on a daily basis, is very low. Same applies to Twitter, where Pieta has 2,092 readers, and Telegram - 3,153 group members.   

The ICO details


The token sale of PITC is scheduled to last till November 14, with the softcap being established at $6 million and the hardcap - $25 million. 9 million tokens were allocated for sale - the price of 1 PITC established at $1.5, which includes the 100% bonus. The project accepts Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Dogecoin. The list of restricted areas features only the United States.

Author: Alex Paulson for Crypto-Rating.com

Pieta Milestones

* Crypto Rating accepts no liability for any errors in the Pieta ICO information and Rating. For the most up-to-date information please visit the ICO's official website.

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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 90.8% 9 $27 072.74 -0.31% -0.57% $524 998 864 858 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 90% 5 $1 894.87 -0.29% 2.21% $227 827 686 185 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 95.6% 1 $1.000237 -0.01% -0.01% $83 172 174 121 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 91.2% 3 $306.06 -0.12% -0.96% $47 701 185 151 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 96% 1 $0.999884 -0.01% -0.02% $28 901 071 500 USDC 7 days price change
6 XRP (XRP) XRP XRP predictions 74.4% 45 $0.522198 -0.25% 10.27% $27 147 495 980 XRP 7 days price change
7 Cardano (ADA) ADA Cardano predictions 90% 5 $0.378860 0.52% 1.56% $13 220 010 862 ADA 7 days price change
8 Lido stETH (STETH) STETH Lido stETH predictions 96% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
9 Dogecoin (DOGE) DOGE Dogecoin predictions 90% 10 $0.072655 0.32% -0.38% $10 144 189 079 DOGE 7 days price change
10 Solana (SOL) SOL Solana predictions 83.6% 26 $21.27 0.60% 3.64% $8 443 365 511 SOL 7 days price change
11 Polygon (MATIC) MATIC Polygon predictions 85.6% 24 $0.903134 0.55% -2.81% $8 380 602 516 MATIC 7 days price change
12 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 74.8% 41 $0.081699 -2.02% 5.66% $8 306 858 508 WTRX 7 days price change
13 TRON (TRX) TRX TRON predictions 78.4% 46 $0.081792 -2.14% 5.52% $7 377 081 997 TRX 7 days price change
14 Litecoin (LTC) LTC Litecoin predictions 76.4% 43 $95.39 0.78% 5.98% $6 970 331 292 LTC 7 days price change
15 Polkadot (DOT) DOT Polkadot predictions 92.4% 7 $5.34 1.40% -0.79% $6 358 029 850 DOT 7 days price change

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