The ever-expanding digital currency and financial ecosystem is heading towards chaos, due to the sheer number of cryptocurrencies that are entering the market every other day. While most of these cryptocurrencies have their own value, their use is limited to certain applications and user groups, which has resulted in a digital divide hampering widespread usage of cryptotokens for personal as well as business use.
Internet of Coins is a project that is working on creating a unified ecosystem where all the different cryptocurrencies can co-exist making it possible for the public to use them for personal finance seamlessly. Internet of Coins, using the hybridd network interlinks all digital forms of value on the internet, enabling peer to peer trading of digital assets and currencies while offering participants an opportunity to earn rewards for participation in the upkeep of the network and community development.
The Internet of Coins’ network is designed to work with existing blockchain structures without requiring changes of any sort, which will allow the platforms to continue with unhindered development without any technical limitations. The Weavechain ledger is built over Metaverse protocol and uses HYBRID cryptotokens to fuel the transactions on the platform.
In order to enable further development of the platform and turn it into a reality, the Internet of Coins team recently organized the crowdsale campaign. The crowdsale offered participants a chance to be part of the revolution. It also allowed the platform to raise the much-required funds without relying on traditional venture capital or other forms of fundraising methods.
The Hybrid tokens themselves are cross-blockchain assets that can be easily used to transfer value between different cryptocurrency ecosystems.
The Internet of Coins project is now on solid ground, working in partnership with the Federated Blockchains Initiative and the NLnet Foundation. Bitalo has also contributed at the crucial time by providing a seed donation during the initial period.
With the continued development of Internet of Coins and rising adoption of Hybrid tokens. It is only a matter of time before the usage of multi-blockchain platform becomes widespread.
Disclosure: Deepak Bharadwaz, Crypto Data Analyst for BlockStreet.info, was paid for his cooperation with NEWSBTC in preparing this content. Deepak provides Bitcoin Price Analysis & Trading Intelligence.