Advertise
CoinTrust
BTC
ETH
BCH
SOL
DOGE
SHIB
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • VPN Friendly Casinos
    • New Crypto Casinos
    • Offshore Online Casinos
    • Best Crypto Casinos Reddit
    • Bitcoin Poker
    • Bitcoin Betting Sites
    • Bitcoin Bingo
No Result
View All Result
CoinTrust
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • VPN Friendly Casinos
    • New Crypto Casinos
    • Offshore Online Casinos
    • Best Crypto Casinos Reddit
    • Bitcoin Poker
    • Bitcoin Betting Sites
    • Bitcoin Bingo
No Result
View All Result
CoinTrust
No Result
View All Result

Home » New York City Gets its Own Cryptocurrency

New York City Gets its Own Cryptocurrency

Kelly Cromley by Kelly Cromley
Nov 10, 2021
in Market News, News
Reading Time: 3 mins read
0

As the most populated city in the United States, New York will receive its own digital token in the coming months. NYCCoin, the city’s digital token, is expected to be launched soon, thanks to the support of incoming mayor Eric Adams, who hopes to become New York the world’s next major cryptocurrency center.

The interest in incorporating Bitcoin into the curricula, as expressed in an interview with CNN, went hand in hand with Adams’ desire to see it become a part of the curriculum. Adams had previously stated that he would accept his first three paychecks in Bitcoin, which is presently the most valuable cryptocurrency in the world, after being elected mayor in a landslide victory.

RelatedPosts

GIBO Launches USDG.net to Boost Blockchain Payments for Creators

PREH Launches $100M Fund to Tokenize U.S. Real Estate

Big Hair Unveils $BGA Token to Bridge Beauty and Web3

Sony and Bandai Namco Launch Gaudiy to Drive AI and Web3

Adams’ choice to accept Bitcoin payments is one of a kind, and it has fueled the establishment of NYC’s own digital token as a result of his action. The following are some interesting facts regarding NYCCoin: This initiative is being spearheaded by CityCoins, which is a community of civic-minded individuals and an open-source system. This provides investors with an opportunity to help their towns by increasing the size of their crypto treasury.

This can be accomplished while also generating money for themselves. According to the CityCoin website, the cryptocurrency performs three primary functions: activation, mining, and stacking of coins. People can now support New York City and help it expand its crypto treasury while earning Stacks (STX) and Bitcoin (BTC) with NewYorkCityCoin (NYCCoin), the project’s website says.

According to the website, there is further information.

The company stated in a release that mining for NYCCoins would commence “after 20 separate wallets signal activation following contract deployment,” which would occur “shortly after contract deployment.” In addition, the corporation indicated that NYCCoin would only be activated through the process of mining. There will be no initial coin offering, pre-sale, or pre-mine. It went on to say that Adams’ comments influenced them to chose New York City as their next mining target. ‘We had a vote on which city should be the next one,’ said Patrick Stanley, a CityCoins community leader, according to reports.

“We’re delighted to welcome you to Web3’s worldwide headquarters,” Adams had responded to the message on Twitter. In the meantime, according to CoinmarketCap data, the value of NYCCoin on Wednesday was $0.0001152 at the time of writing this article. The digital token’s market capitalization was at $17,006,086 on its first day of trading, with the volume of traded coins increasing by $222,9671,912.62 percent throughout the course of the day. CoinMarketCap, on the other hand, published a disclaimer on NYCCoins.

“We have received information that Yobit has disabled NYC withdrawals, which we are investigating. It was written on the website. It is currently ranked #3943 on CoinMarketCap, with a live market capitalization of not provided. It appears that the circulating supply is not available, and that the maximum supply is also unavailable.” The website provided additional information on the token.

Anyone can mine CityCoins, specifically NYCCoins, because they are open source. To accomplish this, STX must be forwarded into a CityCoins smart contract running on the Stacks network. As stated on the CityCoins website, 30 percent of the STX that miners send forward will be transmitted straight to the city’s reserved wallet, in this instance New York.

It is also programmable, which allows developers to enhance the city from their keyboard by using NYCCoin to construct web3 applications, mint NFTs, or otherwise upgrade the city’s digital infrastructure.” “According to a statement by CityCoins. The city of New York is not the first in the United States to accomplish this achievement. The move comes on the heels of the debut of MiamiCoin, a cryptocurrency created specifically for the city of Miami. Since its introduction in August of last year, this digital token has generated more than $21 million in revenue for the city.

Former Miami Mayor Francis Suarez, who was instrumental in the creation of MiamiCoin, had previously stated to The Washington Post that it is likely that citizens of Miami will no longer be required to pay taxes in the future because MiamiCoin will generate enough output to support the city’s operations.

Previous Post

Cryptocurrency Exchange Huobi Stops Services in Singapore

Next Post

Shiba Inu Outshines Bitcoin, Ether, and Dogecoin as Most Popular Crypto on Twitter

Related Posts

gibo launches usdg.net to boost blockchain payments for creators

GIBO Launches USDG.net to Boost Blockchain Payments for Creators

by Kelly Cromley
May 13, 2025
0

GIBO Holdings Ltd., a key player in Asia’s AI-generated content (AIGC) streaming sector, has introduced a blockchain-based payment engine, USDG.net—also...

preh launches $100m fund to tokenize u.s. real estate

PREH Launches $100M Fund to Tokenize U.S. Real Estate

by Kelly Cromley
May 13, 2025
0

Patel Real Estate Holdings (PREH) has initiated a $100 million fund dedicated to tokenizing real estate assets on the Chintai...

big hair unveils $bga token to bridge beauty and web3

Big Hair Unveils $BGA Token to Bridge Beauty and Web3

by Kelly Cromley
May 13, 2025
0

Big Hair, a well-known name in the beauty industry, has officially stepped into the Web3 arena by launching its native...

sony and bandai namco launch gaudiy to drive ai and web3

Sony and Bandai Namco Launch Gaudiy to Drive AI and Web3

by Kelly Cromley
May 13, 2025
0

Sony and Bandai Namco have jointly launched a new startup named Gaudiy, with a focus on harnessing emerging technologies such...

bitget and superteamcan boost web3 innovation in toronto

Bitget and SuperteamCAN Boost Web3 Innovation in Toronto

by Kelly Cromley
May 13, 2025
0

Bitget has joined forces with SuperteamCAN to invigorate the Web3 development landscape at the ongoing Solana Startup Village in Toronto,...

gate.io unveils alpha to streamline web3 token trading

Gate.io Unveils Alpha to Streamline Web3 Token Trading

by Kelly Cromley
May 13, 2025
0

Gate.io has introduced a significant upgrade to its MemeBox feature, rebranding it as "Alpha" in a strategic move aligned with...

Next Post
Shiba Inu Outshines Bitcoin, Ether, and Dogecoin as Most Popular Crypto on Twitter

Shiba Inu Outshines Bitcoin, Ether, and Dogecoin as Most Popular Crypto on Twitter

  • blackrock invests in colle web3

    COLLE: Pioneering AI Web3 Platform Receives Investment Boost from BlackRock

    by Kelly Cromley
    May 13, 2024
  • Central Bank of Saudi Arabia Teams Up with Ripple to Transform Cross-Border Settlements

    by Kelly Cromley
    Aug 17, 2023
  • Router Protocol and OpenWorldSwap Partnership to Revolutionize DEX Market

    by Kelly Cromley
    Aug 6, 2024
  • GameStop’s Digital Transformation: Embracing Blockchain and NFTs

    by Kelly Cromley
    Feb 2, 2025
  • XRP Ledger Embraces Precious Metal-Backed Stablecoins with Meld Gold Partnership

    by Kelly Cromley
    Oct 2, 2024

Recent News

gibo launches usdg.net to boost blockchain payments for creators
Market News

GIBO Launches USDG.net to Boost Blockchain Payments for Creators

by Kelly Cromley
May 13, 2025
preh launches $100m fund to tokenize u.s. real estate
Market News

PREH Launches $100M Fund to Tokenize U.S. Real Estate

by Kelly Cromley
May 13, 2025
big hair unveils $bga token to bridge beauty and web3
Market News

Big Hair Unveils $BGA Token to Bridge Beauty and Web3

by Kelly Cromley
May 13, 2025
sony and bandai namco launch gaudiy to drive ai and web3
Market News

Sony and Bandai Namco Launch Gaudiy to Drive AI and Web3

by Kelly Cromley
May 13, 2025
bitget and superteamcan boost web3 innovation in toronto
Market News

Bitget and SuperteamCAN Boost Web3 Innovation in Toronto

by Kelly Cromley
May 13, 2025

Categories

  • Altcoin News
  • Analysis News
  • Bitcoin News
  • Blog
  • Cardano News
  • Ethereum News
  • ICO News
  • Legislation News
  • Market News
  • News
  • Ripple News
  • Solana News

Cointrust

  • About Us
  • Contact Us
  • Correction Request
  • Our Team

Legal

  • Disclaimer
  • Terms & Conditions
  • Privacy Policy
  • Cookie Policy

Popular

  • ICO Listings
  • Knowledge Base
  • All about Mining
  • Cryptocurrency Exchanges
  • How and Where to buy Cryptocurrency

Sitemap

  • News section
  • Sitemap
  • XML Sitemap

© 2024 CoinTrust.com.

CoinTrustCoinTrust

* DISCLAIMER: All information provided in CoinTrust is merely for informational purposes, we are not an investment advisor and not affiliated with any companies or ICO/Cryptocurrency Projects. To use this website you must accept our cookie policy, Disclaimer and Privacy Policies.

No Result
View All Result
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • VPN Friendly Casinos
    • New Crypto Casinos
    • Offshore Online Casinos
    • Best Crypto Casinos Reddit
    • Bitcoin Poker
    • Bitcoin Betting Sites
    • Bitcoin Bingo

© 2024 CoinTrust.com.

We use cookies to ensure that we give you the best experience on our website.
If you continue to use this site you agree to allow us to use cookies, in accordance with our Cookie Policy.
I Agree