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What is the Red Sweet Potato Coin? (What does “Red Sweet Potato” refer to?)

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What is the Red Sweet Potato Coin? According to official announcement, the Red S

What is the Red Sweet Potato Coin? (What does Red Sweet Potato refer to?)

What is the Red Sweet Potato Coin? According to official announcement, the Red Sweet Potato Coin, also known as “Red Sweet Potato” or “Hongshu” in Chinese, was launched on the Huobi Ecosystem (Heco) on May 15, 2018. Its highest increase on the opening day reached 1000%, and it has already mined a total of 40 trillion coins.

It is understood that “Red Sweet Potato” is a way of transforming the production factors of the Internet into data assets through blockchain technology. According to the whitepaper of the Red Sweet Potato project, “Red Sweet Potato is a digital currency based on blockchain technology.” According to information on the official website, “Red Sweet Potato” is a project initiated by HuobiGlobal, established in 2013, and started development at the end of 2017. It was officially launched in early 2019.

What does “Red Sweet Potato” refer to?

“Red Sweet Potato” refers to “Dogecoin”, a term that is easily exploited in the blockchain field. Generally speaking, it refers to a kind of meme species (non-fungible token) called “candy” or something similar. The meaning of “sweetness” (redce) refers to something that people believe can bring them value (figuratively speaking).

And this thing is actually a great name – Doge. It is the same as what foreigners say: Dogecoin is a niche concept, but it has no practical utility or purpose. For example, when you want to buy some dog food, you can buy a bag of potatoes to eat with others, and then create a frenzy and generate income. But there is a certain connection between these two things, because these foods were not invented by Musk, but created and formed by community contributors, so many people are buying them as well.

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