SpankChain (SPANK) is a blockchain project aiming to disrupt the adult entertainment industry. SpankChain uses payment channels to facilitate low fee payments directly from consumers to performers, cutting out the extortionate fees typically charged in the adult entertainment industry as well as removing the necessity to use banking networks which discriminate against adult performers as well as compromising privacy.
The SpankChain technology infrastructure is based on payment channels - a technique for building scalable decentralized applications - allowing the majority of transactions to be moved off-chain, where they take place instantly and cost no gas.
As of November 21, 2020, SPANK has been delisted from Bitfinex. While withdrawals remain open until December 04, 2020, at 12:00 AM UTC, trading and deposits will cease by November 23, 2020, at 12:00 PM UTC.