E-Coin (ECN) has soared over 2,399 percent today (9 February 2018) and this follows on from a 4,900 percent rise just a few days ago. There’s little information online regarding this rise in value, most investors are looking at it as a “pump and dump” type deal, so it could be advisable to sell at this price today, if you should happen to own any.
E-Coin was launched in February 2017 and prices soon dropped to far below those reached within the first few months. A number of price spikes have been occurring since December 2017 although none of them have been as significant as the spikes seen in the past few days. The 4,900 percent spike of Tuesday this week was soon followed by a significant drop in value, only to rise significantly again today.
The E-Coin was launched by Ecoinsource.com, although their website is currently unavailable for access. Information provided at launch included the following details. E-Coin is a proof-of-stake cryptocurrency which is algorithm based. ECN coin makes use of a specialised POS algorithm to secure the network. From the moment ECN coin is acquired it starts to become an interest bearing asset and is reckoned to provide returns of 120 percent per year via PoS minting.
PoS (proof-of-stake) is a form of algorithm that aims to achieve a distributed cryptocurrency block chain network consensus and is not similar to bitcoin which is a Proof-of-Work based cryptocurrency. There are several more benefits to PoS when compared to Proof-of-work algorithms. For example, there is no requirement for hardware mining and this saves time and energy while also cutting costs. Furthermore, PoS provides staking rewards.
The E-Coin ECN coin is a peer to peer, open source and community driven type of decentralised cryptocurrency which will allow owners to store and invest wealth in a currency which is not controlled by any government, while also earning substantial sums of interest on their initial investment.