A new altcoin that’s designed to be a digital goldmine for miners and miners of cryptocurrencies is going public this month, according to an article on CoinMarketCap.
CoinMarketCap, a site that tracks cryptocurrency prices, has listed the new alt coin as being worth around $2.3 million.
The name steatits is a reference to a type of gold known as steatitic gold.
It is the second cryptocurrency that’s going to debut this year, joining bitcoin, which is currently valued at around $1.7 billion.
The announcement comes after the cryptocurrency’s developers released a whitepaper in November detailing its design and goals.
The platform also has a plan to support the cryptocurrency as a store of value.
The new coin is currently in a beta phase, but it is expected to be launched as a fully-fledged product sometime next year.
Coindesk, CoinMarketcap’s sister publication, noted in the article that the company is the first to release a product in the cryptocurrency space.
Steatites, which was named after the mythical world where the ancient Greek city of Atlantis was supposedly built, was designed to help miners who are mining cryptocurrencies earn a steady stream of coin that is worth a fraction of the price they are currently earning.
The company is currently focused on providing the tools and services that will allow miners to mine cryptocurrencies with minimal risk and with minimal effort.
CoinmarketCap notes that steatit’s developers have stated that they plan to release more cryptocurrencies to the market within the next few years.
It’s not clear if the new cryptocurrency will be a direct competitor to bitcoin, but the company has made efforts to help cryptocurrency miners in the past.
In June, the company announced that it had reached an agreement with the largest bitcoin miner in the world to become a partner in the steatiterium network.
That deal, which CoinMarketMarketCap has reported on before, allowed the bitcoin network to use the blockchain to manage and distribute the mining pool’s mining fees.