After Paying People To Write On Their Bodies, A Vegetable On The Blockchain Startup Exits The Market
The word of cryptocurrency business is funny. It is full of good, juicy, and at times bad stories. You might wake up to an ICO starting up. The following day, you read in the news of how a particular major exchange is making lots of revenue each year. Still, you may read in the same journal of how a certain digital coin startup or a cryptocurrency miner is using the heat to produce vegetables. These are juicy stories. They are interesting, and everybody wants to hear such stories. But there are also sad incidents. An example of such an event is when you read that a specific reputable digital currency platform was hacked. In the process, millions of shillings were lost.
Why Did The Blockchain Startup Exit The Cryptocurrency Market?
These are just some of the news you are likely to read regarding digital currencies. But there are other incidents though. Prodeum, a new startup that claimed to revolutionize the world of cryptocurrency has gone offline. The company went offline on Sunday. When it did, there was no note left behind. In many cases, when a site goes offline, it is either to work of an upgrade or even a temporal technical hitch. Whenever there is a hack or something like that, at least the company communicates. Communicating through the site may be hard.
Prodeum Scam And Tech Issues?
But there are social media platforms. The company can decide to use these platforms to communicate to its clients about the hack, scam, technical issue or even an upgrade. Sadly, Prodeum did not do any of these. Instead, the company went ahead to delete its entire social media accounts. They were eliminated as if they never existed in the first place. Imagine how devastating that can be. The site is down, the social media platforms have been deleted, and now, there is no communication.
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This cryptocurrency company even claimed to have arranged for trial sessions in the U.S and Lithuania. It is now off the market.
Startup Using Ethereum blockchain technology?
What is funny, the startup is doing all these after it paid people to write on their bodies. How much does the world know about Prodeum? According to the company’s press release, this was a startup that was based in Lithuania. The aim of the company, as per the press release, was to revolutionize the fruit and vegetable industry. The startup would use Ethereum blockchain technology. During the time of talking to the press, the company claimed that it had already initiated discussions with IFPS. Discussions with the International Federation for Produce Standards were to help the startup have the legal rights to perform their functions.
So, is blockchain technology the new Internet? Well, not really but many people ask the same question. If you are wondering “What is Blockchain Technology”, we will try to explain it to you in simple terms. Have you ever heard of Bitcoin? Blockchain technology is the system that processes and verifies Bitcoins transactions. Actually, there are thousands of smaller cryptocurrencies that use Blockchain technology to process and verify their transactions. These smaller cryptos are known as altcoins or alternative coins.
Originally blockchain was referred to as block chain because its purpose was to grow, process and verify records and transactions in “Blocks”. These blocks link together as a processing and verification process using cryptography. Each block in the Blockchain system has a unique hash or hashblock. These hash blocks serve as a transaction approval and content transaction data, which are represented as merkle tree root hashes.
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