Are you the kind of person who does not wear a mask or use antibacterial gel? Is the coronavirus wreaking havoc in your country? Coronacoin (NCOV) might be the cryptocurrency you were looking for. The new ERC-20 token backed by the coronavirus itself, promises to be a suitable investment.
The World Health Organization (WHO) declares an alert for a possible pandemic. And while the world population falls, a company has decided to launch a non-mintable and deflationary token. Most people are locking themselves in their homes, waiting for the cure to the virus. Coronacoin allow those users to bet on the coronavirus pandemic.
The Coronacoin Project
The project, which has its own website, will issue a total of 7,604,953,650 NCOVs on the Ethereum blockchain. This number represents the current world population. Tokens are burned every 48 hours. It depends on the number of people infected and killed by the virus in the past two days. This is due to a mechanism created by its founders, called “Proof of Death” (PoD).
The rate of contagion and mortality of the coronavirus is precisely what sustains the value of the token. The more the virus spreads, the more valuable the Coronacoin NCOV token becomes. This is very convenient for its investors. Taking into account that the cases in South Korea and Japan have exploded in less than a week. Likewise, in China, the number of cases exceeds 70,000 and approximately 2,000 deaths. The lack of a vaccine or medicine to counteract the virus also works in favour of the token’s price.
The Users NCOV
Firstly, users will be able to attend the official launch of the Coronacoin token on their website. As well, they will be able to acquire it at exchanges such as Saturn and ForkDelta. Another interesting fact about the crypto asset is that its founders promise to donate 20% of their tokens to the Red Cross. This mainly to help contain the epidemic.
The cryptocurrency is already registered in CoinGecko, with a price of USD 0.00389575 per unit, a value that has increased in the last 24 hours by 195%. The developer company says its main purpose of this cryptocurrency is to raise awareness.