Safex (SFX) cryptocurrency eCommerce has skyrocketed in price over the past month, up 107.8% over the past 30 days.
Currently, the price of the currency is $ 0.019273, according to data from CoinMarketCap. The coin, which functions as a proof-of-work digital currency, currently has a market capitalization of nearly $ 1.3 million.
SFX is a privacy coin running on the Safex blockchain. It hopes to provide eCommerce solutions by revolutionizing the way data is collected.
The idea is that when goods are bought, the market using Safex’s blockchain doesn’t know who the buyers are. This is different from e-commerce giants like Amazon or Alibaba, which collect data from their customers.
Like many other cryptocurrencies, there is no “middleman”, so sellers get the money right away and no one takes a cut or has access to the transferred funds.
The asset uses hidden addresses and ring signatures, just like the largest privacy coin by market cap, Monero.
“Safex helps online merchants break free from being stuck at the mercy of centralized platforms that charge high fees and even leverage their data to compete with their customers,” the company says. “The network is based on every sale of every online store.”
The coin attracted attention due to the profitable mining rewards. Right now, SFX mining is 101% profitable, according to Skypool data.
not sure why people suggest it @Safex the market is expected to accept other cryptocurrencies
most cryptocurrencies have no privacy, so why should we compromise security.
and second, unless $ SFX it was uselessly structured, which I don’t think so, so we would just undermine its value.
– Daniel Dabek 🚢ᵀᵂᴹ SFX ⛏️ (@dandabek) November 15, 2020
To mine the coin, no expensive rigs are required and everyday computer hardware can be used.
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