Cryptocurrencies have been around for over a decade and have taken the world by storm. Bitcoin, the first decentralized cryptocurrency, has paved the way for other digital currencies to emerge, each with its unique features and use cases. SeekCoin (SEEK) is one such digital currency that has been gaining traction in the cryptocurrency market. In this article, we will delve into the details of SeekCoin and explore why it is considered the future of digital currency.
Fixed Supply and Deflationary Nature of SeekCoin
SeekCoin is a deflationary digital currency that operates on the Binance Smart Chain. However, its ability to be utilized within the SGN ecosystem provides it with utility and can potentially accelerate the adoption of the coin, which in turn can increase its overall value. Therefore, while it is not exclusively intended for use within the SGN ecosystem, the ability to utilize SEEK within it can benefit the coin’s overall value and adoption.
SEEK has a fixed supply of 500 million coins, with no additional coins ever to be minted, making it a scarce digital asset. The deflationary nature of SEEK means that the number of coins in circulation will gradually decrease over time as more coins are burned. To reduce the overall supply of coins in circulation, SEEK implements a strategy referred to as “coin burning,” where a specific percentage of coins utilized in transactions is taken out of circulation. This is typically accomplished by directing the coins to a smart contract address that is inaccessible.
Versatility of SeekCoin
SEEK holders are incentivized to hold onto their coins and participate in the SGN ecosystem to earn rewards and use the cryptocurrency for various purposes. SEEK can be used as a means of payment, reward, and governance within the SGN ecosystem. SEEK is designed to be used for a variety of purposes, including online advertising, crowdfunding, and e-commerce. SEEK holders can participate in the Seek Lottery, stake their coins to earn rewards, and trade on the decentralized exchange platform Seek Swap.
The deflationary nature of SEEK makes it an attractive investment opportunity. As the overall supply of SEEK decreases, the value of the cryptocurrency is designed to appreciate over time, assuming the demand for the cryptocurrency remains constant or increases. This is in contrast to traditional fiat currencies that are subject to inflation, where the value of the currency decreases over time as more money is printed, and the purchasing power of the currency declines.
Seek Global Network (SGN)
The Seek Global Network (SGN) ecosystem provides a robust set of use cases for SEEK, including e-commerce, online advertising, and decentralized finance. SEEK is a fast and secure way to transact on the SGN platform, and it provides benefits to both users and merchants who participate in the platform. SEEK can be used to pay for ad space, reward website owners and social media influencers for promoting products and services on behalf of advertisers, buy and sell goods and services on Seek Shop, participate in crowdfunding campaigns on Seek Gold, and trade on Seek Swap.
SEEK has also been designed to provide liquidity on the decentralized exchange platform Seek Swap. SEEK can be used as a trading pair on Seek Swap for example SEEK/BNB, which provides liquidity to the SEEK market and enables users to earn rewards for providing liquidity.
Conclusion
In conclusion, SeekCoin represents the future of digital currency with its deflationary nature, coin burn mechanism, and diverse range of use cases within the Seek Global Network ecosystem. With its unique set of features, SeekCoin is poised to become a major player in the world of cryptocurrency and offers a promising investment opportunity.
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What is Uniswap and how does it work?One of the most well-known decentralized exchange (DEX) protocols in the blockchain world is Uniswap, and it is no wonder, because this protocol has become one of the largest DEXs in the crypto ecosystem, with a blocked value that amounts to 5 billion dollars.
With this, Uniswap becomes one of the main opponents of centralized solutions, and leaves behind the belief that this type of technology could not become truly viable.But how has Uniswap achieved this?
This fact already tells us one thing: Uniswap works with Ethereum ERC-20 tokens .
It is precisely this point, which led Uniswap to its immense success: there is an immense community that needs this exchange functionality and, if you can make money with it, all the better.However, as Uniswap only works with ERC-20 tokens, it is severely limited in functionality.
To overcome this limitation, other projects have dedicated themselves to creating ERC-20 tokens that represent these other cryptocurrencies.
The creation of these markets is self-sustaining, allowing the protocol to generate income that serves to incentivize the injection of liquidity in exchange for a small interest to its investors.
And now the Chinese government is minting cash digitally in a re-imagining of money that could rock a pillar of American power.It may seem that money is already virtual, like credit cards and payment apps such as Apple Pay in the U.S., and WeChat in China eliminates the need of carrying money.
China is on the way to converting legal tender into computer code.
It has been observed that they have recently declared all crypto-currency transactions illegal in order to give a proper place to their digital currency.There could be another reason for this, cryptocurrencies such as bitcoin portend a possible digital future for currencies, but they exist outside the traditional global financial system.
On one side they are not legal tender like cash issued by governments and on another side, the government doesn’t have any control over them.
They can’t even access the transaction data and accurate holding details.As we are aware of the way the Chinese government operates, they like to have control over everything in their hands, and cryptocurrencies seem like a rebellion in their policy.
In this article, we will talk about some of the recent decisions taken by the Chinese Government on Cryptocurrency and their impact as well.
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