What Is Pinkcoin?
Pinkcoin describes itself as a PoS/PoW hybrid with emphasized staking features allowing developers to build donation based platforms on PINK’s network. Staked rewards can reportedly be donated to as many as 100 wallets on the network instantly and free of transaction fees. Wallets with 100,000 PINK coin blocks are able to participate in Flash Staking (FPoS 2.0), benefiting stakers with increased rewards periodically for 4 hours each day. According to the team, Flash Staking periods feature a block discovery rate that is 6x the normal PoS rate, benefiting all users with faster transaction times. The most notable platform built on the PINK network is Donate4Life, whose main goal is helping people in need by facilitating fundraising for charities and individuals via staking reward sharing platform. The is a blockchain-based digital asset designed to support Charities and Non-Profit organizations, and encourage community participation.
Pinkcoin Storage Key Points
|Circulating Supply||430,462,355.15 PINK|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
The Inksnations Blockchain: Inksledger
The Pinkcoin Coin inksledger is the blockchain of Pinkoin. This blockchain is not built upon any other existing blockchain technology. The blockchain plans to use a mechanism of consensus know as proof of love instead of the commonly known proof of work mechanism.
Is Inksnation (Pinkcoin) A Scam?
Yes, inksnation is a scam. It does not follow the characteristics of a typical cryptocurrency project. It is neither decentralized, trustless, immutable, and transparent. The Security and Exchange Commission has warned people against investing with Inksnation because it is not registered or regulated by the commission.
Reasons Why Inksnation Is Not Legit
- For those familiar with cryptocurrencies, you will know that the level of demand and supply determines the value of a cryptocurrency. The native cryptocurrency of Inksnation known as the Pinkcoin (PKN). Pinkoin is not available on any known cryptocurrency exchange meaning the crypto is untradeable. This is why it is a mystery how 1 PKN (Pinkoin) is worth over $500 as they claim.
- Also, the platform claims to offer a form of a debit card called Pinkard, which they claim can be used to withdraw and carry out transactions anywhere. Still, this card is not issued by any financial card company and is just printed in the form of an ID card, making it practically useless.
- The platform’s deadline for the beginning of their poverty eradication project was in the August of 2020. Since then, they have been postponing the date from August to November 12 and now to 2021 without any tangible reason.
- Inksnation claims that they want to eradicate poverty from Nigeria, and everybody, including a newborn baby, will be paid a monthly salary of N120,000 by just registering with a minimum of 1000. How is it possible to earn N120,000 monthly with N1000 without doing anything. This makes no financial sense and is similar to how financial scams operate.
- Recently Inknation claimed to have made an upgrade to the website and requested their users to verify their account by inputting their BVN and paying a sum of around N200 using their debit cards. The platform claimed that the money will be refunded after updating. However, there is no evidence that those that paid the money requested were refunded.
Pinkcoin Like they earlier said, the SEC has already issued a warning stating the following “The general public is hereby warned that any person dealing with the said entity and others in the same business in any manner whatsoever does so at his/her own risk. Inknation has been able to play on the lack of knowledge of thousands about cryptocurrencies. It is clearly a scam and has no elements of popular cryptocurrencies like Bitcoin, Ethereum, and Tron. It is therefore risky for anyone to invest their money in this scheme. There is a general saying that business is all about taking risks. However, it is essential to take sensible risks and do adequate research about fraudulent platforms like Inknation.