It is difficult to define the acceptance of blockchain technology in different countries. All the different currencies in blockchain technology that works differently according to their algorithms. Similarly, Eric Adams happens to be the mayor of the “New York” city who has come forward into the support of the NYCcoin. This coin gives the liberty to people to use it more freely. The mining of several coins is very difficult and requires special types of skill or hardware to be mined. In contrary to these requirements, any individual can mine NYCcoin. The holders of this coin also get the power to grab some cryptocurrencies using the protocol of stacks.
The launch will be supported by the Mayor
The support by Mayor will prevent any form of restrictions that can be imposed by the existing regulating authorities. The NYCcoin is being launched by ‘City Coin’ which are another type of cryptocurrency that investors and traders use to support their respective cities. While supporting the launch of these coins, the Mayor also mentioned the similarity between Miami coins and NYCcoins.
The issued funds will be used to support the New York City and the fund for Mayors
Every launch raises the question of the use of the funds that will be collected by the coins. Similarly, these coins also come with the pre-determined use of the funds. The funds will be divided between the support to the city and support for the Mayor’s fund. Therefore, all of these networks are being used for the betterment of the city and supervision.