BlackCoin’s Black Shield : Whale Dumping Defense System

After its recent downward trend, things seem to have stabilized for BlackCoin (for now anyway). In order to ensure further stability, as well as looking at options to further increase the value, the developers have come up with something new, called Black Shield.

The idea behind BlackCoin’s Black Shield would be to make sure that “whales”, people who hold massive amounts of BlackCoin, can’t dump through all of the buy orders & crash the price, which is exactly what happened a few days ago.

There will be a Black Shield Defense fund, where people who are mining on the BlackCoin Multipool, can donate some of their shares to the Black Shield Defense fund wallet. The funds collected in this wallet will be used to create buy walls on a predetermined exchange.

These buy walls will be publicly listed, so everyone can see them. You can look at these buy walls as a sort of “warning cluster”, which will send out a message throughout the BlackCoin community in the form of a Tweet, IRC message and e-mail.

In order to receive this notification as an e-mail, you can choose to opt-in on a mailing list. Regardless of how you receive the message, it will hopefully cause the community to spring into action and respond to people who are trying to dump their BlackCoin.

It’s an interesting idea, but from what I can gather, the BlackCoin community is sort of split on this. About half of them see its usefulness, and the other half doesn’t like the idea all that much. But as not all information is available yet, we’ll have to wait and see.