VkCoin, a Russian Facebook competitors token is mined by 4M users in 4 days

11 Apr, 2019
by Colin Hawkins
VkCoin, a Russian Facebook competitors token is mined by 4M users in 4 days

VkCoin, a token made by social media company VKontakte, announces suprising statistics for the new token. The Facebook competitor announced that 4 million miners have flocked to the token, in just 4 days.

With Facebook possibly having plans on the horizon for a stablecoin that their users can use to facilitate payments between each other, they are not executing like their social media competitor based out of Russia. VKontakte, serving Russia, Ukraine, and the Baltic States, has the same ambitions as Facebook, although unlike Facebook they are executing what they plan to accomplish.

Vkontakte has developed its own crypto called VkCoin and although the coin is still in its infancy and only serves the purpose to cash its value for certain purchase and cash advances, users are flocking to the idea.

Those who use VkCoin can visit the “store” to exchange their tokens with other users or for certain discounts. According to Vkontakte, with the crypto only being 4 years old they have amassed over 4 million new miners, and have one VkCoin holder that has 890 million coins. These tokens as of now are only redeemable within the Vkontakte platform, there is no news on the horizon about their availability for trading on an exchange.

Read more: VK: Russian alternative to Facebook looks to launch its own cryptocurrency

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