With the advent of multiple cryptocurrencies that offer their own set of fundamental, strategic and technical advantages over others, the cryptocurrency market is enjoying new found diversity and flexibility. To reap the benefits of this network of cryptocurrencies and facilitate the transfer of one digital asset to another, crypto-exchanges have been launching user-friendly multi-currency wallets in the recent times. As convenient as that might be, imagine if you owned a single token that can represent any cryptocurrency available and can be transacted on its blockchain system. Exactly this is what “Internet of Coins‘” new initiative “Hybrid” is all about. Let’s dive deep into the idea behind Internet of coins and how Hybrid has the potential to become the most transacted platform in the future.
What is Internet of Coins?
Internet of Coins is a structured environment for personal finance involving cryptocurrencies. As a decentralized platform, it enables a comprehensive financial network, interlinking all digital forms of value. It allows users to trade digital assets and currencies peer to peer, with an easy to use interface and the opportunity to earn fees by participating as an allocator. The best part of the platform is that the existing wallets need not go for any upgrade or change to adapt and link to the Internet of Coins. The developers are launching an inter-systemic, and cross-blockchain token called a ‘hybrid asset.’ This token allows for the transfer of value between ledger systems without the need to update or adapt existing cryptocurrency source code. The key idea is to integrate all the digital currencies into an interconnected and financially liquid web.
How is Internet of Coins profitable?
The primary motivation behind the launch of Internet of Coins is to bring a financially viable platform into play where interested parties can make the shift to the crypto-world. With various entities looking to reap the benefits of the cryptocurrencies and their quick time applications, IOC would surely be the most sought out platform in the coming years. Since anyone with any wallet can link to this platform without upgrading their schema, its utility and adoption are going to be on the higher side. A different allocation schema ensures that currencies with a small market cap receive the needed liquidity to support one’s exchange and relevancy within a good cryptosphere. The vision is to make the Internet of Coins a comprehensive autonomous network, enabling anyone to participate and build alternative financial instruments and markets, featuring equality in participation, representation and influence.
Launch Dynamics of Hybrid and its performance
The official token of the Internet of Coins platform is termed ‘HYBRID.’ It provides a store of value across multiple blockchains and serves as the medium to swap value between the different chains they are registered on. The crowdfunding was launched on 21st Mar 2017 and ended after three months on 21st June 2017. The crowdfunding of the project was a huge success with over 700,000 Hybrid tokens issued during the funding. The tokens are expected to be tradable from July 1st post the closing of the crowd sale. The tokens will be tradable on all blockchain networks irrespective of the cryptocurrency.
The founders of the platform believe that owing to the value the platform possess; its crowd sale was a humungous success without the involvement of any venture capitalists. They think that it would surely become a must-have tool for all the cryptocurrency traders shortly.