What is Gravitational Wave Coin (Is Gravitational Wave a scam)?

08/16/2023 09:47 • Blockchain Briefs • 58 views

What is Gravitational Wave Coin? Gravitational Wave Coin is a type of cryptocurrency powered by Bitcoin’s lightning network. It can be issued and traded in various tokens on the Ethereum blockchain and circulated and exchanged in various ways. It is referred to as “elastic supply”. According to Bitcoinist, over time, the price of Bitcoin will continue to rise. Due to its volatile price and vulnerability to external factors, investors will need motivation to generate liquidity for certain assets, such as purchasing LTC with BTC or ETH.

Is Gravitational Wave a scam?

What is Gravitational Wave?

Why do people say that? Can it deceive money?

The founder of Gravitational Wave, Zhang Nangeng, stated that during the ICO boom in 2017, the price of Bitcoin rose from $20,000 to around $40,000. However, after the market crash and the hype and speculation surrounding Ethereum 2.0 and other hot topics, the price of Gravitational Wave experienced a sharp decline in 2019 while Bitcoin did not follow the bull market trend. At the end of 2017, the price of Bitcoin reached a peak of about $4,000, but later dropped to around $1,000. It then continued to fall, reaching a minimum support level of $5,000. So far, many investors have questioned its fraudulent activities. In the second half of 2019, the cryptocurrency exchange Coinbase also announced the launch of Gravitational Wave (Tronlink) trading pairs.

So what is Gravitational Wave?

Simply put, it is a “one-click mining” function. This application, called the transfer function, allows users to automatically generate the transfer amount through smart contracts. When assets are transferred to others or companies after a successful transfer, this application will send funds to the user’s address as a reward. These services are usually operated and supported by a node. Therefore, as long as anyone on the network can use these tokens, transfers can be made.

For many blockchain developers, “transfer” is not a true transaction or operation, nor is it the fundamental aspect of blockchain itself. It is the need to verify the correctness of transaction information and confirm the type of user identity to complete the payment. Therefore, “transfer” is a special function that can be implemented and compatible with existing systems using new technologies.

If you want to become an important part of blockchain technology, you must first find a chain: the so-called “gravity block”. This process does not require trusting any party. Only participants know that their signatures have reached consensus in a specific period of time and have sufficient validity to execute such operations. Because this method cannot solve complex problems and is prone to failures, the “gravity block” is as important as the daily work of many people on the Internet.

Gravitational Wave is a sidechain issued by the BitTorrent protocol, used to introduce Bitcoin and other digital assets into the DeFi field, and allows users to build decentralized financial products and services on it, including derivatives, loans, collateral management, and synthetic assets. It uses multi-party computation and zero-knowledge proof technology to expand DeFi.

However, due to the different approaches adopted by blockchain, some applications cannot fully rely on these solutions. For example, Ripple is creating a new cross-chain exchange that aims to improve the efficiency of blockchain swaps and keep every transaction unchanged. In addition, Ripple plans to launch another stablecoin based on the ERC-20 standard, called XRP.

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What is Gravitational Wave Coin (Is Gravitational Wave a scam)?

Is Gravitational Wave a scam?

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