On May 7, the Singapore KuCoin cryptocurrency exchange informed customers about a temporary suspension of tradingTrading
– is an economic term that means the process of independent trade, independent analysis of the market and the conclusion of trade transactions.Details, withdrawals and deposits of RChain tokens (RHOC).
"Deposits, withdrawals and trading of RHOC are temporarily closed. Upon request from the RChain project, we decided to immediately suspend deposits, withdrawals and RHOC trading. We apologize for any inconvenience. Relevant follow-up events will be announced separately." – Exchange Twitter.
Interesting in the section: Potential and Outlook of KuCoin
The ambitious RChain project and the RHOC tokenToken
– is an accounting unit that is used to represent a digital balance in an asset.Details are under scrutiny of the crypto-community. They plan to push Bitcoin and Ethereum back, increasing the bandwidth of their blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details first to 500 and then to 10,000 transactions per second. For ICOICO
(Initial Coin Offerings) is an acronym, which means a primary currency offer. Details, the RChain project raised $ 10 million.
Recall, on March 11, the KuCoin exchange already stopped RHOC trading. After the negative information about RHOC attracted everyone's attention and the RHOC project was defined by KuCoin as a high-risk project based on special processing rules (ST). Therefore, to protect the interests of users, KuCoin excluded the RHOC.
KuCoin Exchange reported stopping the RHOC cryptocurrency trading. KuCoin continues to monitor the situation of the platform and, if necessary, appropriate actions will be taken, as well as further notification of customers.
Editor: Yuliya Soroka