A financial report released earlier this week announced the launch of another cryptocurrency into the market. This time the coin is LGBTQ-focused and its goal is to “fight against homophobia.” The coin is called the maricoin, which Reuters reported, is derived from a Spanish language homophobic slur.
There is certainly plenty of competition in the crypto market, but the founders hope their kind of niche token will survive. Even if these tokens actually have real-world value, many are still hesitant that they will golf the values. This is because some tokens can be reproduced infinitely, which blockchain mathematicians say they can.
The supply of any coin may be limited by the algorithm that makes the tokens like bitcoin. However, there are other coins that act similar to bitcoin, according to experts interviewed by CBC News. According to CoinMarketCap, there are 16,394 different crypto tokens trading on 451 different exchanges, valued at over $2.2 trillion US.
For more information about the source click HERE