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What is CoinCodex (What does “coin” mean?)

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What is CoinCodex? According to Coindesk, CoinCodex is a digital currency tradi

What is CoinCodex (What does coin mean?)

What is CoinCodex? According to Coindesk, CoinCodex is a digital currency trading platform supported by blockchain technology. Its features include providing low slippage and high fees for users without affecting user privacy, user-friendly interface and wallet that are easy to trust and understand, and can be used for payment, storage, or exchange of encrypted assets and other decentralized applications (DApps). It is reported that on April 1, 2019, CoinCodex, an enterprise-level blockchain platform based in Singapore, announced the completion of a $50 million financing round, led by a16z.

What does “coin” mean?

What does “coin” mean? Coin is a blockchain project that allows anyone to participate and create a digital asset through it.

In a sense, it is the tokenization and transaction settlement system (DPOS) of cryptocurrencies such as Bitcoin and Ethereum. Its core is to use consensus algorithms to achieve a unit of account. Under blockchain technology, every transaction requires corresponding fees and confirmation time, thus ensuring network security and stability. This payment is also called “money”. That is to say, as long as everyone is willing to use this method for value exchange, they can obtain a considerable investment fund or a company’s equity. Of course, if you want to turn this idea into reality, it’s actually very simple. You only need to hold one thing to get another investment fund or a company’s stock… This is what we usually call tokenized currency. For example, the Bitcoin we are currently using is actually a virtual commodity priced in US dollars. However, as more and more mainstream investors start to pay attention to Bitcoin and some other virtual assets, the prices of these virtual assets will change dramatically.

When people discover the huge advantages of Bitcoin, they often consider it as an investment form rather than an asset. So Bitcoin is a new speculative tool, which makes it prone to price manipulation and illegal financial activities, and even leads to market fluctuations. But here comes the problem, since Bitcoin already has its own economy, where is its value? Because Bitcoin is not supported by a central institution and does not rely on government-controlled legal currency supply, and because Bitcoin cannot circulate like gold and cannot be used in international trade. Therefore, Bitcoin is not a real currency but a substitute for purchasing physical assets.

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