The Internet of Coins is a promising project cryptocurrency enthusiasts need to keep an eye on. This decentralized environment serves as an optimal financial network while interlinking digital forms of value. Users can trade digital assets and currencies in peer-to-peer fashion. Now that the project’s crowdfund has begun, the team prepares to bring this service to the entire world.
It has to be said, the Internet of Coins project has been in development for over two years. Creating an innovative financial network agent to link crypto-ledgers is no easy feat. As a result of all this hard labor, the team successfully created an autonomous decentralized network. The project allows anyone to store their cryptocurrencies in a secure manner, as well as trade them.
Moreover, the IoC platform supports powerful blockchain applications. While it is true there will be a wallet service for users to manage coins and assets, Internet of Coins is so much more. The platform is a direct interface to smart contract systems, among other things. Removing the need for intermediaries is the top priority for the team, Internet of Coins is compatible with every currency available, making it quite unique.
A working command-line client for Internet of Coins and the alpha wallet front-end are currently being tested by a select group of users. Deployment of the testnet will follow later this year. Moreover, the weavechain feature is still in development, which will make the Internet of Coins platform even more powerful. All things considered, this is one platform to keep an eye on moving forward.
Internet of Coins Crowdfund Is Live
As of today, it is possible for investors to partake in the Internet of Coins crowdfundd. Individual investors will receive one token for every USD worth of investment. As more time progresses, the cost per token will increase, resulting in less Internet of Coins token being distributed. Users can receive their tokens on the blockchain of their choosing. All tokens are scheduled to be released to investors on July 1st of 2017.
Some people may be wondering what the value of these tokens is. The hybrid tokens issued by Internet of Coins provide a store of value across multiple blockchains. Additionally, they also allow users to swap value between different chains when needed. These tokens are the reason why there is no intermediary involved when exchanging value with other users. After the July 1st deadline, tokens will become freely tradeable.
Investors can use different cryptocurrencies to partake in the crowdfund. Bitcoin, Ethereum, Bitshares, NXT, XEM, Counterparty, and Waves are all supported. By supporting these different currencies, Internet of Coins displays their plan to bring different cryptocurrency communities closer together. The team aims to raise at least 1m EUR during their crowdfund, with a maximum target of 7 million EUR.