1. PixelPlaygroundHome
  2. Web3 News

What is Red Coin Money (What is Red Money Term)

• Web3 News • 142 views

What is Red Coin Money, Red Coin Money, originally known as the \”father of bloc

What is Red Coin Money (What is Red Money Term)

What is Red Coin Money, Red Coin Money, originally known as the “father of blockchain” in China, Li Xiaolai, has also started mining and trading Bitcoin. Because of his previous enthusiasm for investing in virtual currency, many investors have turned their attention to it. Subsequently, many friends began to speculate on Bitcoin as a speculative tool. On December 19, 2019, Li Xiaolai posted an article on his Weibo titled “What did I buy?” In the content, he mentioned that we bought 10,000 yuan (about 100,000 yuan) and used this number to purchase a pizza or a cup of coffee. This is a commodity that can be exchanged in various ways, such as Bitcoin, Ethereum, Litecoin, etc. However, according to the website, currently no exchange publicly sells information about this type of commodity or product, so the price cannot be determined. But if it is sold, it means that its value has already halved, and it is likely to fall below 0 yuan.

Li Xiaolai wrote: “If you don’t understand Bitcoin, you should take a look at some popular altcoins on the market.”

What is the term Red Money

According to official sources, Red Money is a new term that uses blockchain technology to ensure the security and non-repudiation of information. It ensures fund security through a special technical means, making transactions simple, fast, efficient, and anonymous without any individual involvement.

“Red Money” is an encrypted asset generated by a user named Vault. The user connects their Ethereum account to this address and sends it to other wallets in the Vault smart contract. If the user’s Ethereum is stolen or transferred incorrectly to the Vault account, they will receive a large refund or some Bitcoin as a reward. If these tokens are lost or transferred, Vault will lose all the ETH and other digital currency assets it owns, including Bitcoin.

This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/25055/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 08/19/2023 10:36
Next 08/19/2023 10:58

Recommended articles