Russia's Vkontakte stops VK Coin mining, says the project moves to the next stage
- Users report that the mining functionality is not available.
- The platform officials confirmed the information, saying that the total capitalization reached 2.8 trillion coins.
The popular Russian social network VKontakte launched its own cryptocurrency VK Coin on April 1, however on April 10 the platform stopped the coin mining.
According to the announcement made by VKontakte’s managing director Andrey Rogozov, the coin’s capitalization reached 2.8 trl coins, while the total number of VK Coin users exceeded 10 million people in just ten days after the launch. At peak time about 1.1 million people used the dedicated mining app simultaneously, leaving behind such popular online games as Dota 2 or CS GO by a number of simultaneous users.
The management did not explain why the mining was stopped. They said that the project had moved to the next stage. From now on the coin owners may send them to their friends and acquaintances and spend them to get bonuses and discounts from the network partners. At this stage.
A team of VK Coin developers Happy Santa wrote that the project was not dead, but transformed to something new. The mining app is now the virtual wallet where the users can keep their coins. They promised to fill the platform with new special offers and provide new ways to earn the coins.
Apart from that, the Happy Coin team said that they lived a totally awesome ten days and hoped to repeat the experience someday, maybe in a year.
Author
Tanya Abrosimova
Independent Analyst
