Ana Sullivan

What is Connect Coin (CNN Token) and Is It Legit or Scam?

by Ana Sullivan May 14, 2018

The Connect Coin is the type of project which does involve a peer-to-peer decentralized blockchain which has been created to be based on a cryptocurrency which integrates e-commerce marketplaces for business to business and business to customer connections. The project has been made to minimize the gap and eliminate the middle men between shoopers, retailers and the end customer while in the same time assures that value is added throughout the process. This value happens via the “connect purchases” which are basically the transaction of funds which are immediately guaranteed via an inbuilt escrow-related functions that assure that all of the parties involved in an order, for example are fully secure against scams and phishing attemps plus other types of common types of intrusions. And while all of this is good, it still remains to be a general idea without Connect getting into much detail on the project.

CNN Token – More Information

 

At this point CNN Token is believed to start at 0.18 to 0.37 against the US dollar which is a bit high when we consider their hard market supply of 250000000 CNN in total. And while they accept Ethereum and BitCoin, they still havent disclosed many details as to how they will develop their idea into real-world application.

 

What Is Connect and How Does It Work?

 

According to their white paper, the ConnectCoin is part of the Connect project which aims to be able to be exchanged into all of the accepted cryptocurrencies in the market, icluding fiat currencies. Their ecosystem offers various services, like stock exchanges trading, cryptonisation of equity and it’s trading and management, cryptocurrency exchanges, cryptocurrency to fiat exchanges, e-commerce, inter-business transactions as well as commodity trading, so basically it is focused on the Forex market as it’s main goal. But while this endeavour to use crypto legally to trade actual assets is a good idea, it does tend to represent a lot of challenges for the Connect project:

  • How will they market the product and gain the community and popularity?
  • How will they ensure to pass all of the approvals by cryptocurrency regulators to make this token trustworthy enough to become an actual exchange for real assets.
  • How will they achieve a safe and secure exchange which is scalable enough to compete with the latest blockchain technologies that come in newer and newer generations.

The Connect currencies represent a value which is tied to the ecosystem and at the heart of this system is an ERC20 source code which uses, you guessed it, Vitalik’s Smart Contracts. And while this is a trusty method to do business, Ethereum still has a challenge to face regulators itself.

 

And while it aims to reduce transaction costs via POI – proof of importance which uses behavioral trust methods to verify transactions and secure them, the project still remains shady as the team has not stated what exactly will they unveil in terms of projects they are running.  So if you are an investor who is interested in this project, be advised to always follow Ethereum and ConnectCoin news on social media and their websites, so that you can form an opinion based on that. And if you aim to invest in CNN, do not put In more than you can afford to lose, because this may result in losses, since cryptocurrency trading is a high-risk operation to start with.

Comments 2

1. Guest
May 16, 2018, 09:50PM

Quotes debut exchange*. for more info contact me at telegram.me/WoodWilsonTrading

2. Guest
May 16, 2018, 09:48PM

Quotes there's so many wrong things with this article first of all I don't know what a shooper is, also the value of the coins are not 18 cents or 31 cents, they are 18 statoshis , which is not even worth a single penny, that's right a single penny. if you take a look at their debt exchange it actually has some useful information, such as the total supply and circulating amount. now to get the market cap you just have to do some basic math. this seems like a very poor written $cnn report. this is not a scam. check out the investors behind it as well Mike Arrington himself, YISHI888 stacked team.

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