Sterlingcoin is a cryptocurrency designed for use in the United Kingdom and the British Isles. After an initial high price and flurry of trading activity provoked by a strong and fast implementation debut, Sterlingcoin has leveled off and maintained a fairly consistent value and market cap for most of its history over the past two years. It received a significant bump in both during a resurgence at the beginning of 2016.
Cointelegraph spoke with Steven Saxton, a developer for Sterlingcoin, about the cryptocurrency’s path forward.
Cointelegraph: What prompted the creation of Sterlingcoin?
Steven Saxton: Sterlingcoin was my colleague Spencer Lievens brain child more so. He felt because there was no coin around at that time with a public team nor a coin that was UK centric, he felt it was time for a coin with a public and honest team.
CT: What target user did you have in mind?
SS: Merchants and consumers that were reluctant to accept or have faith in a currency that the developers of hide behind aliases. People that were ready for true accountability in the payment technology that had emerged.
CT: How was the initial response?
SS: The initial response was amazing. As it should have been. SLG hit the ground running from launch with unheard of "at launch" services, merchants, exchanges, tipping, payment gateways, APIs, web wallets with 2fa. At a time when other cryptocurrencies were launching without so much as a block explorer. We wanted to show the alt world what a launch of a true 21st century currency could be with dedicated developers behind it. Spencer, Matthew, and myself did do just that. We didn't need to pay for marketing or advertising. Marketers and advertisers came to us because they wanted to be the ones presenting Sterlingcoin to their consumers before their competitors did.
CT: What has interest/momentum been like recently?
SS: Momentum is definitely on the upswing lately, as is the price, Joel. Admittedly, about a year ago, we had lost some forward progress because of financial short falls and the fact we needed to hard fork our code so that PoS was calculated more accurately. When we discovered the small miscalculation in PoS, we knew what we had to do to maintain our integrity and word of 5.5%. That is the disadvantage of not being some scammy ICO or not pre-mining the hell out of a coin and giving an honest and fair launch as we did. The money has to come from honest sources. But that would be disadvantage of honesty and accountability in the alt world is our strong suite. Through that, with the support of a long standing community, Sterlingcoin has persevered and will continue its purpose to be an honest currency and dev team both merchants and consumers can trust while in time all the scams are pumped and dumped to the side and out of the way.
CT: Where do you realistically see the project going from here?
SS: We are working hard to retain Sterlingcoin on the pedestal of the altcoin world and so is our community. While the price will rise with our forthcoming developments and restoration of services, I see Sterlingcoin doing as it always has. Maintaining a relatively consistent value in this volatile industry is another thing merchants and consumers can depend on Sterlingcoin for. And that is what one needs from a store of value. Stability. I see that stability and hard work to maintain it carrying Sterlingcoin right through the horizon. Sterlingcoin will always be a contender in the altcoin arena.