What is Leida Coin (Lei’s coin plummeting)
What is Leida Coin? Leida Coin, also known as \”Mining Machine\” in abbreviation,
What is Leida Coin? Leida Coin, also known as “Mining Machine” in abbreviation, is a digital currency based on blockchain technology. It generates income through mining rewards and repurchase, without the need for any transaction fees. Leida Coin is jointly issued by the China Software Industry Association and the China Internet and Information Security Industry Alliance. Before June 15, 2018, multiple internet companies such as “Leige” and “Xiaohuangche” (Lei’s team) joined Leida Group and became one of the first batch of settled companies. In January 2020, Leida Company announced receiving an investment fund of 30 million RMB. However, due to its undisclosed financial data, it cannot be accessed by investors.
Lei’s coin plummeting
Editor’s note: This article is from BlockBeats (ID: BlockBeats) and authorized to be reprinted by Odaily Star Daily.In the past week, Leida Coin has plummeted by over 60%. Since June 1st, the project has been in a continuous decline. “I have sold all the products, but haven’t sold anything.”Leida Coin is a globally renowned blockchain company and one of the largest cryptocurrency exchanges and mining machine manufacturers in China. In October 2020, Leidian Network announced its establishment and launched the main network. Leiyar is supported by Leidian Foundation, Leishen Mining Pool, and Ant Node. It is reported that over 300 Ethereum addresses have received this reward. Leida’s official plan is to use the mined bitcoins for community governance.According to BitcoinTreasuries data, Leida’s digital assets have accumulated about 300 million US dollars since the end of July this year. Approximately 15 million US dollars were obtained through the trading platform TronLink. Since the beginning of May, the number of new nodes on Tron network has dropped by nearly 30%.Apart from “accidents” and “theft,” there are some other problems that need to be solved, such as hacker attacks and security vulnerabilities. There are many reasons for the plummeting of Leida Coin:First, due to the lack of technical background and operating costs, investors find it difficult to acquire suitable assets; Second, due to the lack of legal risks, investors find it difficult to find suitable investment targets; Third, due to the lack of liquidity, many people cannot participate in the early stage investment of the project. The token price of Leida has also been affected.At the end of September last year, Ripple founder Li Qiuwei wrote: “Recently, we have discovered a new fork point – Litecoin (LTC)!” At that time, the price of Leida Coin soared to around $2.Then, in mid-August, Ripple launched the test version. However, in late November, it suddenly encountered a very niche problem. In an interview, he said that the team had never really used the coin. He explained that for developers, they only know that they don’t know how to build this protocol. But now it seems that Leida Coin does have certain limitations, and it is more like a trust mechanism based on algorithms rather than truly decentralized.However, it is worth noting that Leida Coin has not had a positive impact on any market. Similar situations have occurred as early as April this year: First, during the peak of the bull market in 2017, some people attempted to replace Bitmain with Leida; Second, because Bitmain needed to develop faster, it lost its competitive advantage and turned to companies focusing on mining businesses; Third, it was caused by the increase in user demand, making Bitmain more powerful. If a coin with a lot of hype but little substance can continue to rise, it may bring great pressure to the entire industry.
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