Russian social media giant Vkontakte launches virtual currency "Mineable & # 39;

Russian social media giant Vkontakte (VK) has reportedly launched its own virtual currency, called VK Coin. Currently, it is unclear whether it is a cryptocurrency based on a chain of blocks or simply a digital currency used on its platform.

The launch follows information suggesting that the social media giant founded by Pavel Durov was

will launch its own cryptocurrency

, which could be integrated into its own payment system called VK Pay.

According to local media

Tbad

VK's new digital currency can be "exploited" by platform users via a mobile app game. After winning coins in VK, users can send them to others or accumulate them. The winners list of the game is based on VK coin credits.

The application would apparently be available on iOS and Android devices. VK coins can also be used to increase the speed of extraction and will be used to pay for services within VK itself. A

to post

memos from the company's VK Pay Company can also partner with external partners. The publication reads as follows:

And it's not an empty pleasure: in the "Store" tab of VK Coin, you will soon be able to exchange coins for partner offers. The first will be coupons available for discounts of 5 to 20% when ordering in the Delivery Club. Who knows, maybe there will be other lucrative promotions?

As of this week's date, the virtual currency of the social media giant would have been used by more than 4 million users, the richest having already extracted 890 million pieces. Some reports suggest that users have already started trading VK coins for services on VK.

Vkontakte is Russia's largest social media network, with more than 97 million active users per month and 6.5 billion messages per day. It was launched as a local competitor to Facebook, a social media giant who is about to launch its own cryptocurrency.

Some have suggested that Mark Zuckerberg's cabinet had already

reached out to the cryptocurrency exchanges

so that Facebook's pieces are listed on their platforms. According to a Barclays badyst, the launch of such a coin could

bring to Facebook more than $ 19 billion in revenue