European Crypto Developers Have Created “CoronaCoin” That Will Let Users Bet on Coronavirus Deaths

European Crypto Developers Have Created “CoronaCoin” That Will Let Users Bet on Coronavirus Deaths

By Tokenhell.com | Tokenhell | 4 Mar 2020


The number of deaths that COVID 19 has caused is over 2600 in China and 50 in other 46 countries

CoronaCoin

This newly developed cryptocurrency will let people earn profits, what they have to do is to predict the number of deaths or people that get infected with the coronavirus epidemic.

According to its official website, the supply of CoronaCoin depends upon the rate of new cases. So, every two days, its supply will decrease on the basis of the rate of new cases. It means that if more people get killed with the Coronavirus epidemic more the price value of the coin will move higher.

Also Read: US Authority Charged Two Chinese Officials With Laundering Cryptocurrency worth $100M

The coronavirus epidemic is getting worse day by day. It has become global and almost six new countries reported their first cases on Friday. According to the report of the World Health Organization (WHO), there are around 87,000 people worldwide who have been infected by the Coronavirus while the number of deaths that COVID 19 has caused is over 2600 in China and 50 in other 46 countries. It clearly indicates that 87,000 tokens have burned till now.

A user named Sunny Kemp who identified himself as one of the developers stated in a chat on Telegram:

“Some people speculate a large portion of the supply will be burned due to the spread of the virus, so they invest.”

Further on, Kemp revealed that the team behind CoronaCoin consists of seven developers and said that many more on-board are coming. However, he did not disclose the names of other developers but he did unveil the location of these developers and said that they are located in Europe.

Also Read: Bitcoin settles above $8,800, the recovery stalls

Nevertheless, according to Kemp, around 20% of the tokens have been allocated for donation and will be given to the Red Cross on a monthly basis with the help of a cryptocurrency payments processor.

Several Reddit users have criticized CoronaCoin. One of the users asserted, “Frankly, this is amoral.” Similarly, other users passed such kind of comments while criticizing this token.

Also Read: Once Again, Ripple Has Unlocked One Billion XRP Worth $226M From Its Escrow Wallet

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Tokenhell
Tokenhell

Tokehell is a Google News Approved Blockchain & Crypto News Agency Where You Can Discover News About Cryptocoins, Technical analysis, Blockchain Events, Coin Prices Marketcap And Detailed Reviews on ICOs, IEOs. STOs.

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