CoinMarketCap Academy takes a deep dive into Coinweb (CWEB), a platform that plans to solve the underlying problems in blockchain technology.
Coinweb (CWEB) is a platform that is dedicated to solving the present problems in the world of blockchain. It plans on becoming the world’s first ‘’general-purpose blockchain’’ that has real-world usage associated with it. The industries in which Coinweb (CWEB) is working and plans to make a big presence include e-commerce, supply chain, data protection, transportation, healthcare, and many other traditional niches to make sure that its platform provides true interoperability to conventional businesses worldwide.
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How Does Coinweb (CWEB) Work?
Coinweb (CWEB) works on a single purpose, which is to identify the key problems in blockchain technology and solve them. Key problems include the security issues in decentralized applications, smart-contract limitations, lack of easily programmable languages, and difficulties that arise when accessing and merging blockchain data.
The InChain architecture is the fundamental building component of Coinweb's unique approach. Coinweb dApps are able to give innovative solutions to fundamental issues. Thanks to the InChain design and with the InChain architecture, users can get the most out of blockchain interoperability while making fewer compromises.
The InChain architecture proves the state of a blockchain and this has major ramifications for the Coinweb platform and decentralized applications (dApps). It is feasible to keep the attributes of the underlying chains while greatly increasing the efficiency and utility of dApps using this new technique.
Comparison With Different Blockchains
The Coinweb (CWEB) platform shines the most when it is compared with other top blockchains in terms of interoperability, execution model, security, and other important features any blockchain should have.
When compared to blockchains like Bitcoin, Ethereum, Quant Network, Polygon, Polkadot, and many others, here are the advantages Coinweb provides to its users that most of these are highly-trusted blockchains don’t offer.
1. The data redundancy in the core chain is quite high. The calculated state may contain fewer features, but it can be algorithmically rebuilt in the event of data loss.
2. The Coinweb platform plans to solve common blockchain problems by providing a unique strong coupling of blockchains, indexing the data with high security, providing uniform deployment on all blockchains, and so on.
3. Data input can be done both on-chain and off-chain. Overledger Mapps are centralized applications that operate on top of many chains.
4. The universality of Coinweb, also known as interoperability, allows decentralized apps to mix a diverse range of features from several blockchains under a single consensus.
5. Coinweb mitigates dApp platform risk by offering an abstraction layer that avoids such a need to hard code dApps to certain low-level protocols. DApps enable bandwidth and usefulness to be horizontally scaled across current and new blockchains.
6. The parallel execution approach enables computing to scale across numerous chains. Avoiding gas fee bottlenecks considerably decreases platform risk. It also makes it possible to create more powerful dApps with high computational demands.
7. The Coinweb protocol enables decentralized apps to integrate the information, functionality, and features of many self-sovereign blockchains into a high-capacity computing framework, allowing dApps to greatly expand their solution space.
8. Relay chain block ordering is non-deterministic and is determined by a distinct consensus and relies on the timestamp and delay graph of the underlying consensus.
9. There is no order between blockchains which means a single chain binds a subgraph.
10. Cross-chain is not visible in this subgraph and can be seen by a client of The Graph.
For complete details of the comparison between Coinweb (CWEB) and other blockchain features, click here.
Unique Features of Coinweb (CWEB)
The Coinweb Digital Wallet
The Coinweb digital wallet empowers users to buy tokens through their Visa, Mastercard, Swift, and other payment gateways. Users can design and issue their own tokens on the Coinweb digital wallet.
They can communicate with secure encryption and make full use of the cross-chain naming system that eases the transfer of digital assets on the blockchain networks.
Highly Secure Interoperability
The intrinsic consistency model used by Coinweb protects the protocol against instabilities in linked chains while yet allowing full application usability. It enables developers to use a larger number of chains in their projects without sacrificing the least amount of security.
For even experimental or possibly unstable chains, this reduces the cost of blockchain interaction. It also decreases the bootstrapping threshold for new chains, allowing for more blockchain technology innovation.
Low-Fee and High-Performance DApps
Coinweb enables dApps to function indefinitely on top of a Pareto-optimal chain combination. If a chain is becoming less valuable or a better chain becomes available, the dApp will be able to quickly migrate functionality to the better underlying chain.
If one chain gets too sluggish or costly, dApps can more easily switch to another. dApps can be launched on multiple underlying chains inside the same framework. By adding chains, dApps can expand their functionality or switch to a new chain with different attributes and capabilities.
Demand for low-cost, high-performance decentralized computing is growing quickly. Coinweb's low-fee dApps are important for mainstream acceptance. They become a hub for cryptographic innovation, competitive computational resources, and the ability to execute system languages like C or Rust will make experimental concepts like zk-SNARK easier to integrate. Low fee dApps allow for the dispersal of more existing centralized infrastructure.
Smart Contracts With High Capacity
Even if triggered by the same smart contract, every transaction and calculation in Coinweb executes simultaneously. This implies that even if a single smart contract is used by the whole network at the same time, it will not cause an execution bottleneck.
An increase in one dApp's use has no impact on the performance of other dApps. It improves the predictability of dApp performance. For most conventional firms, this is a mandatory feature.
Cross-chain Token Issuance and DeFi Protocols
To construct a wider spectrum of multi-chain dApps, cross-chain token issuance is necessary. It makes sure that tokens that are blockchain neutral and can easily travel across networks. Tokens that are blockchain independent and enable seamless project movement from one chain to another.
Cross-chain token issuance is required to get the most out of blockchain interoperability and it also allows for much-needed features like cross-chain fundraising, DAO, and multi-chain dividend tokens, among others. Furthermore, it enables numerous chains to be combined into a single dApp and so on.
The Coinweb protocol, with its capacity to develop real cross-chain dApps, provides solutions to present challenges while also paving the way for future and more complex DeFi protocols.
The Team Behind Coinweb (CWEB)
The main members of the Coinweb (CWEB) team are as follows:
Toby Gilbert - CEO
Proven track record in founding startups and leading projects in multinational telecom companies.
Knut Arnet Vinger - CTO
Tech pioneer and early adapter of digital currencies. Developed one of the first online mobile slot machines and worked with several well-renowned tech ventures.
Andrew Chilcott - CFO
A chartered accountant with multiple senior accounting and CFO roles. Investor in crypto projects since 2016.
For the complete list of team members, please click here.
The Roadmap of Coinweb (CWEB)
Coinweb (CWEB) has already completed seed funding, building its digital wallet on Android and iOS, launching Blockfort and OnRamp wallets, launching CWEB tokens, and so on. Some of the features that are planned in 2022 and beyond include launching a mainnet that will work as a community incentive system, liquidity pools, a smart contract framework, and so on. For a detailed roadmap, please see the official whitepaper of Coinweb.
Coinweb (CWEB) Tokenomics
The total and maximum token supply of CWEB tokens is 7,680,000,000. The CWEB token distribution is done as follows:
- Mining Reserve - 21.90%
1,680,000,000 tokens
- Strategic Partners - 5.40%
416,986,502 tokens
- Company Reserve - 38.40%
2,946,085,170 tokens
- Strategic Round - 5.30 %
410,256,412 tokens
- Private Round - 7.00%
538,461,538 tokens
- Public Sale - 0.30%
23,076,923 tokens
- Founders - 13.50%
1,039,808,693 tokens
- Team + Advisors - 4.50%
343,204,805 tokens
- Seed Round - 3.70%
282,119,956 tokens
For a detailed guide on CWEB tokenomics, click here.
Coinweb (CWEB) Price
Coinweb (CWEB) is now trading at around $0.1024, as of Jan. 05, 2022. Its 24-hour trading volume on exchanges is around $6,462,932.
Coinweb (CWEB) Price Prediction and Future Outlook
The Coinweb (CWEB) project not only offers a wide array of utilities but also solves the problems that are found at the core of many blockchains today. As we discussed above, the interoperability issue is found at the core of blockchain networks and Coinweb has a scalable solution for it while offering cross-chain token issuance, smart contracts with high capacity, and so on. Institutional investors are mostly on the lookout for such projects that are unique and solve bigger problems in the world of digital currencies. This implies that if smart money makes its way into CWEB, the price of the token may go to $10 and beyond in 2022.
Decentralized applications have become a billion-dollar industry. With almost every major tech company transitioning towards dApps, the platform of Coinweb which enables low-fee production and enables high-performance in decentralized applications solves a big problem for many tech companies.
The CWEB token went to an all-time high of $0.66 less than a week ago before dropping down in the $0.1 range today. Since the token is newly launched, such a price fall was expected and this doesn't reflect on the token's overall price in the long run. While Bitcoin (BTC) makes its way towards recovering, the alt-market is already spiking and with the unique utilities of the Coinweb platform, a spike in the price of CWEB token may very well be around the corner. However, due to the high volatility of the crypto markets, it is advised to consult crypto experts before investing in CWEB or any other cryptocurrency.
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