What is Ziftcoin?
Ziftcoin is a cryptocurrency that was launched in 2014 by Ziftr, a company that provides online shopping solutions. According to its website, Ziftcoin aims to be the coin for mainstream cryptocurrency adoption by enabling consumers to use it at their favorite online merchants. Ziftcoin also claims to have a minimum redemption value of $1 when spent in Ziftr’s retailer network.
However, Ziftcoin has a very low market capitalization and trading volume, and it is not listed on any major cryptocurrency exchange. According to CoinMarketCap, Ziftcoin has a current supply of 452,773,629.71088 with 12,773,629.71088 in circulation, and a last known price of 0.00061111 USD. It also has a very low activity on its Reddit community.
Therefore, Ziftcoin seems to be a very obscure and inactive cryptocurrency that has not achieved its stated goals of mainstream adoption and merchant acceptance.
Is Ziftcoin a scam?
Ziftcoin is a cryptocurrency that claims to be the world’s first decentralized social media platform. However, there are some signs that it might be a scam, such as:
- It has no white paper or technical details about how it works or what problem it solves.
- It has a poorly designed website with spelling and grammatical errors.
- It promises unrealistic returns and rewards for investors and users.
- It has no verifiable team, partners, or advisors.
- It has been accused of plagiarizing content from other projects and using fake testimonials.
These are some of the common indicators of cryptocurrency scams, which can take many forms and target unsuspecting victims in various ways. Remember, always do your own research before investing in any cryptocurrency and never share your private keys or passwords with anyone.
This is how it works
Ziftcoin does not provide much technical details about how it works or what problem it solves. According to its terms and conditions, Ziftcoin is a digital currency that can be used to purchase goods and services from participating merchants, or exchanged for other currencies at certain rates. Ziftcoin also claims to have a built-in loyalty program that rewards users for spending Ziftcoins at merchants.
However, Ziftcoin does not explain how it secures its transactions, what consensus mechanism it uses, what network it runs on, or how it ensures its minimum redemption value.
Amount of information is scarce
The only information available is that Ziftcoin is based on the Bitcoin protocol and uses a proof-of-work algorithm to generate new coins. Ziftcoin also does not provide any white paper, roadmap, or technical documentation to support its claims.
Therefore, Ziftcoin does not seem to have a clear or innovative vision of how it works or what value it provides to users and merchants.