The total number of Coronacoin coins available = 7,604,953,650, which is more than 7 billion inhabitants of planet Earth. The number of coins is set, which means it is a fixed delivery and can no longer be mined. As you all know, the COVID-19 virus that originated in China is now spreading rapidly around the world. The coins essentially follow the number of infected people and the number of deaths on the Ethereum blockchain.
Coronacoin is an ERC-20 token. As the number of infected people increases and the number of deaths increases, the tokens burn proportionally. So if one person gets infected, one NCOV token is burned. So, to get rich, you have to expect that many of them will still be infected or die. In this way, a large number of tokens will be burned and the token deflationary nature will increase the price!
Something positive? Reason of origin?
The coin is based on the fearsome PROOF OF DEATH (POD). Every 48 hours, tokens are burned based on how many people get infected or die. They also mentioned that 20% of the money will go to the RED CROSS, which is a little comforting. As the number of infected people increases, so does the size of this “gift”. Anyway, it is a weak argument, it could work differently and not in such a brutal way. Developers should try to take a different path, such as starting a charity and then applying for a donation to the Red Cross. Why create a coin and expect people to buy it and get richer because of higher deaths? Uff…
The CoronaCoin price today is $ 0.00034937 with a 24-hour trading volume of $ 884.82. The price of NCOV fell by 31.5% in the last 24 hours. See the price graph.