Ouagadougou, Burkina Faso – The Strong Child African Mining coin debuting today on a number of different currency exchanges has a novel approach to generating coins. Most coins use a proof of stake or proof of work model for generating new coins, SCAM coin uses actual children to do the mining.
The SCAM coins are the brainchild of Burkina Faso’s Excelsior Mining Company’s head of research Ardjima Diallo. “We would prefer if you didn’t use the acronym and just used the full name of the coin,” said Diallo. “Also, our children are very strong, so you really shouldn’t consider them minor miners.”
How the new coins work is that investors in the coins are designated a child or a group of children each day depending on how much they invest. Those childrens will be thrown into the mining hole, and at the end of the day if those children return with anything valuable, a new coin is generated. Investors are given NFT images of randomly generated cartoonish children to represent the actual children doing the mining as a bonus for investing early.
Diallo continued, “Unlike proof of work models like Bitcoin which are harmful to the environment because of the energy consumption used to produce new coins, SCAM coins are great for the environment as the children are a biodegradable and renewable resource.”
The cryptocurrency market which has been struggling recently was excited by the new opportunities that SCAM coins present. “I think SCAM coins are the future,” said investor Todd Smiley. “I don’t know where Burkina Faso is, but it sounds like it would be a real place in Africa. To the moon!”