What Is WEMIX Crypto? | Explanation for beginners
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What Is WEMIX Crypto? |
What Is WEMIX Crypto? | Explanation for beginners
00:00 WEMIX 3.0 (Mainnet) Explained
WEMIX 3.0 mainnet is a decentralized blockchain protocol designed for web 3.0 platforms. It utilizes the GHOSTDAG protocol and operates as a high-performance Ethereum Virtual Machine (EVM) compatible open-source network. WEMIX3.0 is secured through the Stake-based Proof of Authority consensus mechanism. It prioritizes security via decentralized on-chain governance through its 40 Node Council Partners while maintaining high transaction throughput. The consensus mechanism is expected to evolve towards complete decentralization through a multi-phase democratized governance process.
00:56 Understanding WEMIX
WEMIX is the native cryptocurrency of the WEMIX mega-ecosystem. It serves as a medium of exchange and payment for gas fees within the ecosystem. New WEMIX coins are minted with each subsequent block creation, and a Permanent Minting Reward is distributed among Node Council Partners (40%), stakers (10%), the ecosystem fund (25%), and maintenance (25%).
01:25 Founders of WEMIX
WEMIX was established in 2018 by WEMADE TREE (now Wemix PTE. LTD.), a subsidiary of WEMADE. The project aimed to create a blockchain gaming platform that connects in-game and real-world economies through tokenomics. In August 2021, WEMADE launched the successful title MIR4 on the WEMIX platform, marking a significant milestone in the gaming industry. Since then, WEMIX has been a pioneer in the Play-to-Earn (P2E) market. In October 2022, WEMIX released WEMIX3.0, its independent blockchain network, to further strengthen the mega-ecosystem.
Unique Features of WEMIX
WEMIX's mega-ecosystem consists of various platforms and components that contribute to its growth:
WEMIX Play: This platform hosts a wide range of multi-genre games from around the world, integrating the "pay" aspect into the gaming experience for global players.
NILE: A DAO-powered community platform that enables project creation, facilitation, and management through the Neith Protocol, promoting collective potential.
WEMIX.Fi: The official DeFi platform offering secure and transparent services such as swapping, staking, pooling, borrowing, and bridging with high throughput and low gas fees.
WEMIX$: A stablecoin protocol collateralized by on-chain and off-chain secure assets like USDC and fiat currencies, designed to promote the growth of WEMIX.
WEMIX Wallet: A decentralized wallet providing users with control over their funds and crypto-assets without relying on custodianship.
WEMIX Explorer: Comprising the Macroscope and Microscope, this tool analyzes data and transactions within the WEMIX blockchain network, serving as a blockchain explorer.
Papyrus: A token-based communication tool connecting users based on the tokens and NFTs they hold.
40 WONDERS: Also known as Node Council Partners, this group represents the interests of the WEMIX community and secures the network through governance.
03:47 Security of the WEMIX Network
WEMIX operates on a high-performance EVM-compatible open-source protocol secured by the SPoA consensus mechanism. It relies on 40 decentralized authority nodes (40 WONDERS) operated by global partners. The network also implements a variable total gas fee formula to enhance security, inspired by EIP-1559. This dynamic gas pricing mechanism makes malicious network spam attempts prohibitively expensive, adding an extra layer of security.
04:26 Where to Buy WEMIX
As of now, WEMIX can be purchased and traded on well-known exchanges such as KuCoin, Gate.io, Huobi, Bybit, Bitget, Crypto.com, MEXC, and more.
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My chanel @cryptofanatic
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#cryptocurrency #cryptofanatic #wemix
00:00 WEMIX 3.0 (Mainnet) Explained
WEMIX 3.0 mainnet is a decentralized blockchain protocol designed for web 3.0 platforms. It utilizes the GHOSTDAG protocol and operates as a high-performance Ethereum Virtual Machine (EVM) compatible open-source network. WEMIX3.0 is secured through the Stake-based Proof of Authority consensus mechanism. It prioritizes security via decentralized on-chain governance through its 40 Node Council Partners while maintaining high transaction throughput. The consensus mechanism is expected to evolve towards complete decentralization through a multi-phase democratized governance process.
00:56 Understanding WEMIX
WEMIX is the native cryptocurrency of the WEMIX mega-ecosystem. It serves as a medium of exchange and payment for gas fees within the ecosystem. New WEMIX coins are minted with each subsequent block creation, and a Permanent Minting Reward is distributed among Node Council Partners (40%), stakers (10%), the ecosystem fund (25%), and maintenance (25%).
01:25 Founders of WEMIX
WEMIX was established in 2018 by WEMADE TREE (now Wemix PTE. LTD.), a subsidiary of WEMADE. The project aimed to create a blockchain gaming platform that connects in-game and real-world economies through tokenomics. In August 2021, WEMADE launched the successful title MIR4 on the WEMIX platform, marking a significant milestone in the gaming industry. Since then, WEMIX has been a pioneer in the Play-to-Earn (P2E) market. In October 2022, WEMIX released WEMIX3.0, its independent blockchain network, to further strengthen the mega-ecosystem.
Unique Features of WEMIX
WEMIX's mega-ecosystem consists of various platforms and components that contribute to its growth:
WEMIX Play: This platform hosts a wide range of multi-genre games from around the world, integrating the "pay" aspect into the gaming experience for global players.
NILE: A DAO-powered community platform that enables project creation, facilitation, and management through the Neith Protocol, promoting collective potential.
WEMIX.Fi: The official DeFi platform offering secure and transparent services such as swapping, staking, pooling, borrowing, and bridging with high throughput and low gas fees.
WEMIX$: A stablecoin protocol collateralized by on-chain and off-chain secure assets like USDC and fiat currencies, designed to promote the growth of WEMIX.
WEMIX Wallet: A decentralized wallet providing users with control over their funds and crypto-assets without relying on custodianship.
WEMIX Explorer: Comprising the Macroscope and Microscope, this tool analyzes data and transactions within the WEMIX blockchain network, serving as a blockchain explorer.
Papyrus: A token-based communication tool connecting users based on the tokens and NFTs they hold.
40 WONDERS: Also known as Node Council Partners, this group represents the interests of the WEMIX community and secures the network through governance.
03:47 Security of the WEMIX Network
WEMIX operates on a high-performance EVM-compatible open-source protocol secured by the SPoA consensus mechanism. It relies on 40 decentralized authority nodes (40 WONDERS) operated by global partners. The network also implements a variable total gas fee formula to enhance security, inspired by EIP-1559. This dynamic gas pricing mechanism makes malicious network spam attempts prohibitively expensive, adding an extra layer of security.
04:26 Where to Buy WEMIX
As of now, WEMIX can be purchased and traded on well-known exchanges such as KuCoin, Gate.io, Huobi, Bybit, Bitget, Crypto.com, MEXC, and more.
---------------------------------------
My chanel @cryptofanatic
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#cryptocurrency #cryptofanatic #wemix
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