The spread of the coronavirus continues, and more countries appear to take serious measures for its containment. Amid the tragic effect on people’s health, the cryptocurrency space recently saw the birth of the CoronaCoin – a coronavirus-backed token.
The Creation of CoronaCoin
Earlier today, the discussion of the new coronavirus-backed coin was published in a Reddit post. It informs that CoronaCoin (NCOV) will be an ERC-20 token.
Its primary purpose, according to the website, is to spread awareness across the board. Interestingly enough, the total supply is based on the world population, which means that for each living person, there’s one NCOV. Yet, the token will be burnt once every 48 hours, depending on the number of casualties and infected people from the virus.
The post also indicates that investors will benefit when the virus continues spreading. Most of the community seems somewhat skeptical regarding this feature. They commented that investors would have to hope for more infected people; in this way, their NCOV value will rise.
The CoronaCoin website states that “portion of funds will be donated to Red Cross for nCov relief.” However, it doesn’t specify how significant that portion is.
At first, the new token will be distributed by an airdrop. Later on, the developers behind the CoronaCoin will launch a game that will allow people to accumulate NCOV while playing.
Potential investors can also purchase the new token mostly from decentralized exchanges. One of them, according to the website, will be John McAfee’s McAfeeDex.
The Corona Virus Developments
The deadly virus is well outside the Chinese borders. Most recently, new cases came from cruise ships.
Firstly, the NY Times reported an American woman carrying the virus in Malaysia. She tested positive when her ship docked in the Asian country.
Furthermore, the total number of Japanese carrying coronavirus has increased to over 355. This came as a result of another cruise ship where 70 of the passengers were infected.
In China, the epicenter country of the virus, a report informed for 2,009 new cases and 142 more deaths. The total number of infected in the nation is above 68,000, and the death toll is at 1,665.
Despite the high numbers, China has announced a significant drop in new cases from the virus for the third consecutive day. The country’s Foreign Minister Wang Yi outlined this, adding that “overall the epidemic is controllable.”
The post The Birth Of The CoronaCoin (NCOV): An ERC-20 Cryptocurrency ‘Backed’ By The Coronavirus appeared first on CryptoPotato.