1. PixelPlaygroundHome
  2. Blockchain Briefs

Why did Zerocoin stop (Zerocoin official website)?

• Blockchain Briefs • 87 views

Why did Zerocoin stop? The reasons are simple: first, the exchange system is no

Why did Zerocoin stop (Zerocoin official website)?

Why did Zerocoin stop? The reasons are simple: first, the exchange system is not perfect, and second, the market conditions are poor.

Due to a large number of trapped positions when the price fell below 9000 after the surge in Bitcoin, many investors suffered liquidation. Therefore, for many users, if there is no capital flowing back to the contract one day, it means being trapped. This problem is a complex and unavoidable phenomenon.

However, the phenomenon of “price manipulation” that occurred simultaneously with the surge in Bitcoin and the significant increase in other altcoins has become a normality. With the influence of plummeting prices and market panic, this situation gradually changes. Therefore, it has been in this state until the critical period ends, and it only truly resumes normal operation near the closing time. (Note: According to the latest news, the critical block height has dropped from around 1:15 am on September 10th to 2:22 pm this afternoon, with a minimum of 9288 EOS.) As of the deadline (Beijing time), there have been no significant fluctuations.

Why did Zerocoin stop? First of all, it is because of the project’s team running away. Many people believe that this time, raising the price will have a significant impact on the price of the entire digital currency. But actually, this is a good thing.

The reason why Zerocoin cannot be listed on the exchange is mainly to attract more retail investors to enter the market, in order to quickly gain profits. On the other hand, it is also to create certain value and make its investment portfolio more meaningful.

Zerocoin has a limited issuance of tokens and can only be incrementally invested on a small scale. This is what we call Initial Coin Offerings (ICO), aiming to raise funds for various purposes, such as purchasing real estate or stocks, earning profits by selling encrypted assets to third-party institutions or individuals. This type of activity is not suitable for special businesses and cannot help everyone to gain more profits.

The second reason is that the trading platform on Binance has been subjected to hacker attacks. It was reported that a domestic blockchain enterprise was accused of fraud and was assisted by the Korean police in the investigation. Subsequently, a Korean prosecutor arrested a man on charges of fraud and sentenced him to 20 years in prison with two years and six months of probation. Another suspect was accused of illegally operating virtual currency trading, and this case will involve the first similar case nationwide.

The last possibility is that there is a high possibility of exchanges manipulating the price in the market. For example, Huobi recently launched a centralized exchange based on the Huobi Global Station, claiming to be a decentralized exchange. But in fact, these platforms are centralized and have not undergone strict risk control inspections, nor have they obtained official authorization.

The third possible reason is that Huobi has been conducting frequent promotional activities related to IEO projects recently, and has been increasing its own technological investment and development efforts. In early 2018, Huobi announced that it would officially release the IEO white paper at the end of May 2018. At that time, before the IEO,

Zerocoin official website

The Zerocoin official public account released the “Public Solicitation Opinion Draft on the Zerocoin Platform Token” on March 31. The announcement stated that Zerocoin is a decentralized, non-profit ecological project mainly targeting community users. The total issuance of Zerocoin is 1 billion, with an initial circulation of 10 million. 50% will be invested in operation in the form of a foundation; 30% will be directly contributed to the exchange by miners; 15% will be allocated to the team; 20% will be used for incentive mining and trading activities by the foundation, and 5% will be used as technical research and development personnel joining the developer team; 5% will be destroyed through community governance mechanisms; 10% will be used to verify the consensus algorithm and initiate super node elections at the critical block height; 10% will be deployed on the Zerocoin blockchain; 10% will open deposit and withdrawal services after the Zerocoin blockchain network is officially launched; 3% will be distributed as rewards before the Zerocoin blockchain system is officially started.

This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/23579/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 08/13/2023 04:38
Next 08/13/2023 05:00

Recommended articles