I've watched the Obsidian project for a long time, traded it, staked it, and finally bought back in. It's a good concept that fell on hard times with the team basically splitting in two and wanting different things. This isn't that unusual in the crypto space so they are (unoffically as of yet but pretty much officially) hard forking ODN and creating ODIN it's a 1v1 all the details haven't been set it stone yet.
Personally I think this is a good opportunity to buy into ODN and 2 for 1. The price is way way down from the all time high of ~ 2.65, it's currently at 0.10 cents. They are also both proof of stake coins. So they are perfect to hodl for awhile and let them build up extra coins. (POS secures the network by keeping your wallet online and rewarding you with stakes based on how many coins you have in your wallet).
The low market cap along with the beta ODN platform and getting 2 for 1 makes this a coin worth taking a look at imo. Below is an article explaining a bit more about Odin. With a link to its original website along with the subreddit links to ODN and ODIN for people to take a look into these two projects if they find them interesting.
http://odinhypo.com/2018/05/08/what-is-odin-anyways/
https://www.reddit.com/r/OdinBlockchain/
https://www.reddit.com/r/ObsidianProject/
Many of you are probably wondering the same thing–what exactly is ODIN? Most of the info given thus far has been through the Obsidian discord’s #announcement channel. For those who don’t know, there was ongoing internal conflict between Obsidian’s CEO (Pete) and the former Lead Developer for Obsidian (Claus).
The new ODIN core-team member Irssi had this to say:
“Simply put: A new coin is made, existing coin holders receive an equal amount of Newcoin holdings in addition to their ODN coins. Pete moves to a new chain, Claus gets a soft launch on the existing chain which already comes with exchange listings, brand recognition, existing communities and Claus already has a strong and positive reputation. To use a roulette analogy, instead of betting all in on red (foundation) or black (Claus), the ecosystem gets to “magically” double its bet and bet the original all-in sum on both red (Pete) and black (Claus). We intend to lead to the recovery of the project and to the future prosperity of a reputed and successful project and we intend to carry ourselves accordingly.”
From the information gathered, we can assume we are receiving one Odin for every Obsidian we own in a 1:1 ratio. Although a fork has been rumored, there is no concrete decision on how the new coins will be distributed. Now that we have a brief understanding of how we got to this point, let’s discuss what we know so far about Odin.
ODIN Features
In its current state, Odin is a mystery to most of us, but it’s clear that much progress is being made behind the scenes. Certain parties wrongly publicized negative discussions and negotiations which was detrimental to the project and its community. Therefore, technical details haven’t been revealed yet to maintain the integrity and value of this new project.
The Obsidian/Odin CEO Pete “superquaid” included this in his announcement on 04/14/2018:
“Today, we begin this new journey with more a frequent release of information and announcements over the coming days and weeks, leading to a relaunch which will include the goals of the original whitepaper, but be expanding far beyond this.
The earliest public whitepaper for Obsidian can be found here. From Pete’s remarks we can assume Odin will replicate the original goals of Obsidian whitepaper. Knowing this, Odin will be a platform for storing, forwarding, and routing messages between P2P clients at the very least.
Another feature could possibly be a messenger that offers end-to-end message encryption with perfect forward secrecy. There’s more information on this laid out in section 3. a) of the original whitepaper. Below is an info-graphic of how the Obsidian Messenger would stack up against the competition. It’s safe to say if Odin decided to also make a messenger it would likely have many of those features.
In addition to the goals of the original whitepaper, we know that the following is planned or is currently being worked on:
Testnet
Masternodes
Staking rewards
ODIN wallet
New feature releases
Community events
Consensus decision-making
Decentralized Applications
As of now, Irssi mentioned that the ODIN testnet is up and running. It’s being secured by staking and masternodes. Tests are being ran to ensure the blockchain is running smoothly and block creation is stable.
The core-team already had a community event for Odin, which was to submit name ideas for features regarding the coin. Entries that won the competition will be awarded $ODIN once coin goes live.
Consensus decision-making is a group decision-making process in which group members develop, and agree to support a decision in the best interest of the whole. Consensus may be defined professionally as an acceptable resolution, one that can be supported, even if not the “favourite” of each individual.¹ If the Odin team follows this flowchart we can expect great results from their decision making process regarding the future of Odin.
Final Thoughts
With personal privacy being a hot topic around the world, many are worried about what is happening with their personal data online. People simply want their data secure, and what Odin brings to the table will cause it to be in high demand. If Odin stays true to what Obsidian was supposed to be, I believe great success will find this project. The moment the internal conflict is officially behind the Odin Team and the Community, there’s really nothing holding them back.