B3 Coin – Hybrid Scrypt POW / Proof of Stake Cryptocurrency?
What is the B3 Coin?
B3 Coin is a Feeze Network Development Network but has been rumored to hoard the Masternode Rewards. There are a ton of cryptocurrency networks in the world, it’s next to impossible to keep track of all of them. Since there are so many, it’s difficult to know which one are to be trusted and which ones are not.
B3 Coin seams to be another shady company to watch out for. Let’s take a closer look to see why this seams to be such a fishy network. First of all, it’s been released that the developers of B3 Coin have frozen nearly all of the network nodes. It’s a shady tactic since all of the developers are running client transactions themselves.
How Does B3 Coin Work?
The currency works on a annual striking rate. They claim to have active developers and designers that are supporting the community, but as said before they have basically frozen the network. Even when you go on the website you can check the current block of the new cryptocurrency. They claim that rewards are at a massive 10,000% but it doesn’t seam to be that true.
The script uses an Algorithm Pos with a fast Algorithm Coin which is promised to be 12 times faster than Bitcoin and uses a secure Sha-256 secure Algorithm, but this isn’t important if the network is frozen. It seams to be another empty promise to get people in. They claim it’s a secure and decentralized open source blockchain that is fast and reliable but once again it doesn’t matter if the network is frozen. They claim it’s the fastest growing cryptocurrency the market has ever seen.
They use these current available exchanges like Cryptotopia, Coinexchange.io and Nova exchange. They claim on the company website to have the fastest and most secure scrypt. But the reality is that most people have never heard of the network. It’s not an actively traded currency either so it’s not very appealing to begin with. And since the developers have been actively banning individual IPs that says alone that it’s a scam run system.
Even on the website there is no real inclination on how the coin is traded. Other open source cryptocurrencies that are legit typically will at least show you how things the currency is traded.
They claim to use a SPV or simple payment verification to process payments and allows a lightweight client to verify the transactions. Also, it’s said it doesn’t have to be done where you have to download the whole blockchain.
They use a simple Android app that is said to let you receive funds while on the go.
They claim that in the first quarter of 2018 they will release B3 coin cods to help implement Segwit. Which is a new first POS that will work with the Masternodes.
This all sounds great but the fact that they are banning individual IPs and freezing masternodes, it’s not very impressive. From all reports B3coin seams to be a very untrustworthy site and cryptocurrency.
The B3 Coin ICO
The project was started with the launch of the Masternode in the final quarter of 2017. The dividends are in the form of B3 and updated on a periodic basis that help improve services and the company.
The chances of it actually being 12 times faster and more secure than the Sha-256 server is very doubtful. Especially without the actual data to back it up. You can connect with them on social media and join discussions to see what others are saying about the company.
Who’s Behind B3 Coin?
At this time, it’s hard to find out who the developers are. Sadly, this is another sign of a very serious scam. Basically, there is a lot of money frozen at this time and. It’s not a normal or acceptable development process by any company standards. The coins are considered lost at this moment and it’s basically just a scam like many other altcoins.
B3 Coin Conclusion
The masternode concept is highly popular among many altcoin companies. But they typically cause large amounts of funds to simply get frozen. B3 Coin’s situation is becoming all too common and showing us all why it’s such a risk business to jump into any brand-new altcoin companies.
Hopefully, B3 Coin will get the situation taking care of quickly, that would show some promising views on the quality of the company. If they can manage to get funds unfrozen and unfreeze the masternode as well as stop banning personal IPs, then maybe they can come back as a company that can be trusted.