Crypto
Coinstore.com lists 11:11 token – A special cryptocurrency that is used within the Hyper Barter Exchange (HBE) platform
SINGAPORE, May 30, 2023 /PRNewswire/ — Coinstore.com, a leading global platform for cryptocurrency and blockchain technology, announces the listing of 11:11 token.
The 11:11 token is a special cryptocurrency that is used within the Hyper Barter Exchange (HBE) platform. It is designed to facilitate buying and selling of goods and services in the barter economy. The token operates on the ALLTRA Chain, which is the underlying blockchain infrastructure of the ecosystem.
The 11:11 token is backed by gold, which means it has a value tied to the price of gold. This backing provides stability to the token’s price and can make it a reliable form of digital currency within the HBE platform. Users can use the 11:11 token to conduct transactions within the ecosystem, similar to using traditional currency for purchases.
By utilizing the 11:11 token, participants in the Hyper Barter Exchange can engage in direct trade and exchange of goods and services without relying on traditional fiat currencies. It aims to create a decentralized barter economy that leverages surplus capacity and promotes commerce and innovation.
11:11 Token Overview
- Token Name: 11:11
- Token Symbol: 11:11:
- Total Supply: 100,000,550
- Circulation Supply: 18,290,807
Coinstore.com Listing
- Trading Pair:11:11 / ETH, USDT / 11:11, 11:11 / HYBX
- Deposit time：2023/05/25 12.00（UTC+8）
- Trade time：2023/05/18 22:50（UTC+8）
- Withdrawal time：2023/06/21 12:00（UTC+8）
What are the utilities of tokens?
The utilities of the 11:11 token within the Hyper Barter Exchange ecosystem can include:
- Medium of Exchange: The 11:11 token serves as a digital currency within the platform, enabling users to buy and sell goods and services directly using the token.
- Value Stability: The 11:11 token is backed by gold, providing stability to its value. This makes it a reliable medium of exchange and a store of value within the ecosystem.
- Barter Transactions: The token facilitates barter transactions by acting as a common unit of value for participants to trade goods and services directly without the need for traditional fiat currencies.
- Access to Platform Features: Holding and utilizing the 11:11 token may provide users with access to various features and services within the Hyper Barter Exchange ecosystem, such as discounted fees, exclusive offers, or additional benefits.
- Incentives and Rewards: The token may be used to incentivize and reward participants within the platform. This can include earning rewards for active participation, engaging in specific activities, or achieving certain milestones.
- Governance and Voting: Depending on the design of the ecosystem, the 11:11 token may grant holders voting rights or influence over governance decisions within the Hyper Barter Exchange community.
It’s important to note that the specific utilities and functionalities of the 11:11 token may vary based on the implementation and design choices made by the project team behind the Hyper Barter Exchange ecosystem.
11:11 Official Media
For more information about 11:11, please visit:
About Coinstore.com
Accessibility. Security. Equity.
As a leading global platform for cryptocurrency and blockchain technology, Coinstore.com seeks to build an ecosystem that grants everyone access to digital assets and blockchain technology. With over 2.8 million users worldwide, Coinstore.com aims to become the preferred cryptocurrency trading platform and digital service provider worldwide.
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SOURCE Coinstore.com
:focal(0x0:3000x2000)/static.texastribune.org/media/files/ab295039087efb8f48e708c4cde2a51d/Afton%20Crypto%20Farm%20TrT%20TT%2005.jpg "Crypto miners must register with state and reveal power usage under new Texas rule")
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Texas’ utility regulator on Thursday adopted a rule requiring cryptocurrency mining facilities connected to the state’s main electric grid to register with the state’s grid operator.
The rule, which was mandated by lawmakers in a 2023 bill, requires crypto mining facilities that consume more than 75 megawatts of power to tell the Public Utility Commission and the Electric Reliability Council of Texas, which oversees the state’s power grid, the facility’s location, ownership and electricity demand.
Crypto mining, which consumes vast amounts of power to run and cool its computers, has been growing in Texas, contributing to a surge in electricity demand across the state. The rule was designed to help the state see how much electricity crypto facilities will consume and protect the grid’s reliability.
“This is another example of the PUCT and ERCOT adapting to support a rapidly changing industrial landscape,” PUC Chairman Thomas Gleeson said in a statement. “Most importantly, we will always take the steps necessary to ensure reliable, affordable power for all Texans.”
Existing facilities must register by Feb. 1 and renew their registration annually. Companies must also provide each facility’s anticipated peak load for the next five years, in addition to the actual power the facility consumed in the prior year.
Failure to register could result in up to a $25,000 penalty per violation per day.
Crypto facilities are considered “large flexible loads” by state regulators, meaning they can adjust their power consumption quickly — such as powering off their computers when the grid is strained.
As of July, ERCOT estimated that crypto facilities on the main grid could use up to 2,600 megawatts of power — about the same amount of power used by the city of Austin. The state recently approved crypto mining facilities that are expected to use another 2,600 MW of electricity, and more are expected to locate in Texas soon.
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That growth, in addition to increasing interest in Texas from data centers, hydrogen production facilities and oil and gas companies that are electrifying their drilling operations largely concentrated in the Permian Basin, has driven ERCOT’s prediction that electricity demand in Texas could nearly double within six years.
Demand on the power grid hit a record of 85 gigawatts last year, which was the hottest ever recorded in the state. ERCOT experts now say demand could reach around 150 gigawatts by 2030.
Bitcoin, the flagship cryptocurrency, is on the cusp of a historic milestone: $100,000. Last week, it came close, reaching an all-time high of $99,645 before retreating slightly. As of now, Bitcoin is trading around $98,000, maintaining a strong position despite the minor pullback.
Crypto enthusiasts worldwide are eagerly watching, hopeful that Bitcoin will soon shatter the $100,000 barrier—a market milestone that would further cement its status in financial history.
The cryptocurrency has shown impressive momentum, gaining over 8% in the past week and continuing its upward trajectory.
Crypto
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