Trending $ETHnftsdefi$SHIBairdrops$ELONbabydoge$KISHU$MONA$LEASH$DOE$FLOKI

SafeMoon’s CEO Now Wants to Tackle Wind Turbine Nanotechnology and a Web3 Telecommunications Network – Wait, What?

SafeMoon (SFM), a coin that operates as a BEP-20 token on the Binance Smart Chain (BSC), remains in focus amid the ongoing transition toward the coin’s second iteration, dubbed SafeMoon V2.

As we detailed in our previous post, SafeMoon is a coin designed for HODL-ers – a term that means Hold On for Dear Life and which refers to the propensity of a community of investors to stick to their original investment thesis even amid adversity. As an illustration, the project discourages short-term speculation by charging a 10 percent fee on all token sales. From the resulting cash pool, around half is reverted to the long-term holders of the coin in a move known as reflection, while the residual half is sent to liquidity pools such as PancakeSwap, where the SafeMoon coin is converted to Binance coin (BNB) in order to bolster the liquidity of the SFM/BNB pair. Given this unconventional structure, some critics have dubbed SafeMoon a glorified Ponzi scheme – a charge that is vehemently contested by the token’s managing team.

Samsung joins forces with IBM to advance breakthroughs in semiconductor chip design

SafeMoon V2, an entirely new iteration of the coin, went live on Sunday. The upgrade brings a number of changes, including an updated contract that will entail a 1000:1 consolidation, thereby reducing the supply in circulation by a factor of 1000 without affecting the overall user balances. At the time of writing, there are 115,769 unique wallet addresses that already hold SafeMoon V2, with this number expected to increase as the general user migration continues.

This brings us to the crux of the matter. SafeMoon’s CEO John Karony, who goes by the Twitter handle @CptHodl, held a Q&A session with the SafeMoon community as part of the ‘SafeMoon Sunday’ event on the 12th of December. While most of the discussion centered around V2 migration, a snippet of the conversation did catch our attention:

EVGA GPU Firmware Boosts GeForce RTX 3080 Ti Crypto Mining Performance By Up To 21%

As is evident, SafeMoon’s CEO used a couple of buzzwords to detail a number of projects under the ambit of the “Area 32” initiative. Apparently, Karony’s dedicated team is working on using nanoparticles to streamline the flow of wind over turbine blades, ensuring minimal friction and reducing the attendant erosion in the process. Some users compared this initiative to a “giant lube” for wind turbines, pardon the crude pun. However, an even stranger initiative deals with the creation of a Web3-based telecommunication network. As a refresher, Web3 refers to blockchain-based internet applications. We do not know what Karony means when he talks about a Web3-based network. Is he trying to host user-generated messages on a blockchain? Predictably, SafeMoon’s CEO refused to divulge any pertinent details regarding these supposedly world-changing innovations.

We will withhold judgment on Area 32 initiatives until we are afforded a bit more clarity. Should SafeMoon’s CEO succeed in revolutionizing wind turbines, more power to him. However, we would urge our readers to exercise caution whenever someone throws around buzzwords without providing a solid scientific backing. In the meantime, you can be sure that we will continue to follow this story with a laser focus.

Buy and sell cryptocurrency on Coinmama

Source link