Posts

Posted on

Waves Community Token

What Is Waves Community Token?

The blockchain technology will change the globe. That is right. Since 2009 when Bitcoin entered the market, over 1600 cryptocurrencies have joined the industry and there is no sign of slowing down.

Every month, there are a number of ICOs (initial coin offerings) running in the market to gather funds for crypto-related or non-related projects. However, purchasing and selling the new tokens is never easy because they run in different countries with diverse laws and currencies.

To remove these challenges, a platform referred to as Waves that harmonizes all the buying and selling of new tokens in ICOs was created. However, even running the ICOs is still complex because of the many evaluations required to ascertain that ICO is right. This is why the Waves Community Token (WCT) was created.

  • A closer look at Waves Community Token (WCT)

The Waves Community Token (WCT) is decentralized and open source cryptocurrency created with the objective of offering a tool for community assessment of various crowdfunding campaigns that are run on the Waves platform. The token was also intended to help incentivize the people who hold the WAVES coin (main coin in the Waves network).

The platform was opened in February 2017 when 20% of the total tokens were released into the market. Note that the coins were distributed to all the people who hold the WAVES tokens. This means that the Waves Community Token (WCT) is an additional incentive to help those with some stake in Waves to carry additional roles of assessing the crowdfunding in the market.

  • The performance of the Waves Community Token (WCT) in the markets

When the Waves Community Token (WCT) was released into the market on February 2017, the value of the native coin was $0.3. It declined to $0.2 in May 2017 before rising sharply to hit a peak of $4.0 in June 2017. But the good performance did not last.

Between June and October 2017, the price declined to $0.5 before rising steadily to reach another peak of $5.25 on 23rd December 2017. This was the highest mark in the Waves Community Token (WCT) history.

Starting from late December 2017, the value of Waves community token took a bearish trend that culminated to $0.2 by the close of October 2018. As ICOs become more important in funding crypto projects, the Waves Community Token (WCT) demand is expected to increase and push the price up.

What is the problem that Waves Community Token Solves?

As one of the fastest growing methods of raising funds, ICOs have become items of abuse by people who only want to raise funds and then running away from the community. Though a noble idea of raising funds fast, the main question remains; “How can you tell the difference between a good and bad crowdfunding project?”

  • Concerns that most ICOs being held today are fraudulent

In September 2017, China banned all ICOs in its jurisdiction indicating that they are fraudulent. China was so furious that it ordered all the exchanges that had received money from ICOs to return to investors. Though China was thought to be against cryptocurrencies, the issue was put into better perspective by the US Securities Exchange (SEC).

To demonstrate that many scammers can go to great lengths to steal from unsuspecting investors, SEC went ahead and created a fake ICO with a spruced website, white paper, and payment structure. Investors could not tell that it was a scam.

This implies that the risk of getting defrauded is still very high. The Waves community token (WCT) targets to subject ICOS to severe scrutiny to ensure that only the good ones run on the Waves platform.

  • The danger of blockchain and tokens losing credibility

Think of a situation where you buy tokens only to realize that they were pump and dump scheme? Such a scenario is likely to make tokens lose credibility in the eyes of investors. Such is the scenario that is likely to play as more fake ICOs hit the market.

However, this problem is likely to affect even the new projects that are seeking funding from the community. The current trend where projects raise a lot of cash in no time is likely to reverse. If investors back and the blockchain projects stall, the entire blockchain niche is likely to recede.

  • Slow uptake of cryptocurrencies in the market

Even as the blockchain niche keeps growing, concerns have emerged that the uptake of cryptocurrencies is slowing down. When an ICO is announced, most of the people who rush to buy are investors seeking to make a profit when the value grows.

What this implies is that though the industry appears to be growing, the application in daily lifestyle such as payment for goods and services is poor. The target of Waves community token is creating ample motivation to attract more people into the network.

How Does Waves Community Token Solve The Problem?

The main target of Waves community token is placing the power of deciding the tokens to be listed in the Waves system in the hands of the community. Here are the main roles that those with Waves community token do to help identify the right crowdfunding.

  • Business side verification: The Waves community token holders help to follow the businesses to establish if they are real enterprises. They also evaluate the operational model to gouge if a business is viable and worth investing in. For example; the community will want to know how long the business has existed, it is licensed, its management, and profit report in the last couple of years.
  • Proof of Concept verification: Before a token is released through an ICO, it has to release a proof of concept. Call it the white paper. This is a detailed outline that defines every component of the new token and its relation to the main concept. If there are mathematical demonstrations, they have to be vividly captured and demonstrated.

The community goes a step ahead to test the concept and its application in different scenarios. In some components are unclear, the token issuer might be required to provide a clarification or get the crowdsale approved or risk getting disqualified.

  • Token specs advice: Having been in the cryptocurrency network for some time, the community members have sharp skills to easily note the crowdsale that have issues. Therefore, they provide advice on different crowdsales not just to pull them down, but to also clarify the core components. If an ICO is lacking in a small area, the community will help with ideas on its improvement.
  • Help with product and services integration: Depending on the service that your startup is introducing into the market, holders of Waves community token will be there to help integrate it into the community. Consider it as a form of marketing for the new ICO and the services that the enterprise is introducing into the market.

What makes Waves Community Token better than it’s competitors?

The Waves community token has been described as the next big thing in the industry. Its design has helped to reintroduce the concept of decentralization in project analysis. Here are some of the things that make Waves community token better than its competitors.

  • The token is associated with a highly successful coin, WAVES. When a new token is released into the market its association with a more successful token or project is considered to have an equally high potential. In the case of Waves Community Token (WCT), its association to Waves has made people develop a lot of trust in it. This is why it has been performing very well in the market.
  • The coin touches on crowdfunding which determines how successful a project operate. If you plan to release a new token, it is important to appreciate that a lot of effort is required. You need a lot of resources to meet the coding, legal, website development, management, hosting, and security consideration. This is why many projects start with crowdfunding.

By attaching the Waves Community Token (WCT) to approval for crypto projects, the token has become a point of interest. This popularity has helped to draw a bigger community and grow the value of the token.

  • The coin has been performing well in the market. As other coins in the market struggle to attract more people and grow in value, it has been, very easy for Waves community token. Since the tokens were distributed to those who already had WAVES, a large following was guaranteed.

The community has continued to grow as more people join the community that helps to determine whether an ICO is okay or not. You can also become part of the community by purchasing the coins in the market.

How can Waves Community Token better categorized?

The Waves Community Token (WCT) is a pioneer coin designed to decentralize the approval or crowdsales. The token was created to help make work easier for the Waves platform while adding credibility to the ICOs taking place in the community.

The token has demonstrated that though the ICOs had become the center of abuse, it is possible to cure the issue with additional scrutiny. The model is likely to get replicated as cryptocurrency communities target bringing back credibility to the blockchain niche.

What’s Waves Community Token’s vision on Security?

The Waves Community Token (WCT) vision on security is to make the token the most secure and attractive in the market. The team wanted to help restore trust in the cryptocurrencies so that individuals and even governments can believe and adopt crowdsales.

To achieve the vision on security, the Waves development team employed the following strategies and features:

  • The platform is run as a completely decentralized network. Before a confirmation is given on whether an ICO is good or otherwise, the community has to come to a consensus.
  • The Waves Community Token (WCT) and user details are encrypted to ensure that third parties do not easily get access to the details.
  • The project is led by an aggressive team that progressively evaluates the network to seal gaps and vulnerabilities.
  • The Waves Community Token (WCT) operates on the Waves blockchain that helps to serve as an additional layer of security.

Examples of Waves Community Token’s use cases / applications

The effectiveness of a cryptocurrency in the market is partly determined by the use cases.  The Waves Community Token (WCT) development team has worked hard to increase the use cases of the token and raise its value. Here are some of these use cases.

  • Waves Community Token (WCT) is used to motivate the members of the team that assesses the effectiveness of ICOs. Once you have the tokens, you can convert them to WAVES or other preferred coins in the exchanges.
  • Trade Waves Community Token (WCT) in the markets. Like other tokens, WCT can be traded in the markets. Note that trading the token requires one to join the preferred exchange and selecting a trading pair.
  • You can use the Waves Community Token (WCT) to send value on a peer2peer basis. As a peer2peer coin, users can send value directly without involving centralized third parties such as banks. This implies that the process is fast and cheap.
  • Use the native tokens to save funds or invest in the industry. If you do not want to save money in a centralized bank, one good alternative is the Waves Community Token (WCT). When you purchase the tokens, they help to store value, and you can recover it by selling in the market.

The Waves Community Token (WCT) is considered a good investment option today because of the growing interest from the community. For example, the bearish trend running from January 2018 to the third quarter of 2018 is expected to change in the coming years as ICOs take root.

Note that even though the Waves Community Token (WCT) is considered a high potential coin, the expectation is speculative. Therefore, it is advisable to invest wisely because cryptocurrencies are highly volatile.

https://coincheckup.com/coins/waves-community-token/news

https://coincheckup.com/coins/waves-community-token/related

https://questions.coincheckup.com/waves-community-token/who-is-leading-waves-community-token-wct-crypto/

https://questions.coincheckup.com/waves-community-token/how-to-buy-waves-community-token-wct-cryptocurrency/

https://wavesplatform.com/

 

 

Posted on

TokenCard

What is TokenCard?

TokenCard is a blockchain project that was designed with a vision of establishing a token economy and making it a part and parcel of normal daily activities.

To do this, TokenCard started by introduction as an alternative to hard cash.

Decentralization on the blockchain platform is, for many people, more theoretical than practical.

This comes from the fact that most of the projects that are existing at the moment are too technical for the average user, and this makes it difficult for the projects to penetrate into the normal markets, and get accepted. Even giants like Bitcoin are struggling with this.

In this regard, however, TokenCard has managed to devolve decentralization down to the average user. They are making this one of the easiest products to use, and integrate into the normal economy by creating user scenarios that most people can associate with as they go about their daily lives.

This is also one of the reasons why TokenCard has hit the ground running as a success. It is not just an authentic project, it is, more importantly, a practical project.

What is the problem that TokenCard Solves?

Bitcoin is by far one of the most successful and greatest experiments ever performed.

Since its inception, however, there have been a lot of projects that have come up, following the success of Bitcoin. Ethereum, for example, managed to widen their horizon of what people would expect of a blockchain platform.

As time goes by, a lot of individuals and companies have made attempts to introduce blockchain technology and cryptocurrency to the masses, though adoption is yet to take shape in the desired speed.

One of the challenges that cryptocurrencies face is that most of them are still cumbersome, and it is virtually impossible to integrate them in the normal life for a lot of people.

This concern poses a lot of challenges that the project owners have struggled to address. This is also one of the reasons why the mass adoption of digital assets has been a nightmare. The following are some of the concerns that are evident in the cryptographic space:

Security

Most people find it cumbersome and difficult to store digital assets. This is one of the reasons why they prefer either to stay away from cryptocurrency altogether or use a third party like an exchange to store their assets. While this works, for the most part, it goes against the very concept of cryptocurrency.

Cryptocurrency is supposed to do away with the need for third parties like exchanges. Therefore, the presence of exchanges simply introduces the prospect of catastrophe. What is needed is a system that cannot just store its own assets, but do so without compromising on the usability.

Volatility

Another challenge that exists in the world of cryptocurrency is forcing people to use volatile assets, for example, Bitcoin.

This is one currency that has been the subject of discussions all over, in the process attracting speculation and conspiracies. Instead of offering a solution, Bitcoin effectively creates concern among users, as they are never sure of what will happen.

What is needed, therefore, is an asset class that is not just diverse, but efficient.

Usability

There are so many steps that have been taken to make sure that digital assets can be put to use. In order to use your digital assets, you must have an account on a given service, need a wallet and an exchange platform. You will need these if you are to withdraw currency, deposit them or share them with anyone.

You must also undergo a rigorous KYC process, whether you are only planning to become an amateur trader. Instead of going through all these challenges, it is important to have a system that will not just do away with these challenges, but provide a plug and play alternative that is not just seamless but gives the users an experience that they can integrate into different platforms that they use.

The Ethereum platform has been home to so many projects that attempt to solve some of these, among many other problems. This is where TokenCard comes in.

Through Ethereum backing, TokenCard has the tools needed to create a distributed banking system. This is useful in that it attempts to fix the problems that are experienced in the normal banking environment, and with some of the blockchain projects that have been introduced to address the same.

In so doing, TokenCard has been able to outperform the banking alternatives in terms of transparency, efficiency, and flexibility.

The TokenCard platform, therefore, identifies and offers solutions to these concerns, while at the same time positioning itself at the center of the process, pushing for mainstream adoption of the Ethereum blockchain and relevant projects, and to book a prime position in the next phase of the history of financial services.

How does TokenCard Solve the problem?

The idea behind TokenCard is to make sure that consumers have a very good banking experience especially when it comes to cryptography and the integrity behind decentralization on the blockchain.

Even with all the technical details of the project, simplicity is one of the key tenets of the TokenCard project. Users should be able to go about their transactions with TokenCard in the same way that they normally carry out their business with their debit or credit cards.

This makes the difference not just in a transactional situation, but also when comparing TokenCard and other currencies that are currently available in the same industry.

Through the blockchain, it is possible to create valuable services which are not just accessible globally, but also able to offer the holders an unrivaled user experience.

Unlike any other project that has been designed before, TokenCard gives the users an assurance of transparency in the regulation of the actions that keep the project alive and active.

The following are the most important elements of the TokenCard project that have since helped to turn it into the success story that it is currently:

  • Token App – This is an app which offers an intuitive, unique and clean process, and allows users to gain access to different segments of the project.
  • TKN – These are the tokens that are used in the TokenCard project.
  • TokenCard – This is the card that links the user’s contract wallet and the network. As a result, it is through this card that users can access ATM withdrawals and PoS transactions within the wallet.
  • Token Contract Wallet – The wallet is where all the user’s digital assets are stored.

What makes TokenCard better than the competitors?   

One of the biggest challenges that most of the cryptocurrency projects currently face is the fact that they are unable to gain significant traction for direct entry into specific markets. This has proven to be a major barrier to entry and expansion, which further translates to a low level of adoption. However, with TokenCard things are different.

TokenCard is focused on specific markets where there is a high likelihood of success. Generally, the first go-to option is the Ethereum community, general public banking, and markets that are specific to unique platforms.

Ethereum Community

Being the provider of payment solutions for the Ethereum community is one of the best advantages that TokenCard has over the competition.

There is a rapidly growing market cap for ERC20 tokens and Ether. With this in mind, it is important to have a payment utility that caters to all the assets available on the Ethereum network, and TokenCard is built to handle this.

Platform Specific Markets

There are unique markets that are currently coming up, specific to the projects that they are built to handle.

From the word go, TokenCard is integrated into such projects, offering a solution for a diversified marketplace, and at the same time offering a connection for a payment rail that is ideal for the users in that specific project.

Going after the Banks

TokenCard is one of the projects that are boldly going after the traditional banking systems.

There are so many projects that are designed with this promise, but most of them eventually just coexist with the banks, having realized that it is virtually impossible for them to gain the kind of traction that the banks have.

In the case of TokenCard, this is a project that is specifically geared towards ushering in a new dawn in as far as banking is concerned. A good population of the young generation prefers online banking and branchless digital banks. It is also expected that in a few years, most millennials will not see the need of having a bank.

Considering that most people are dissatisfied with their current banking predicament, TokenCard has a good opportunity to leverage its products and services, and usher in the millennial population into a new world of banking and financial services.

The Chinese Market

The fact that TokenCard has been cleared to launch and issue tokens in the Chinese market speaks volumes about the promise for the future and the agenda behind the project.

As it is, tokens are already popular in China, and the entry of such a gigantic player in the market would help spur growth, innovation and drive awareness.

After gaining traction in the Chinese market, it is very easy for projects to venture out further, seeking out markets in the West.

How can TokenCard be categorized?

TokenCard is a payment project that can be used in any payment terminal all over the world. With this card, users can operate in the same way they use their debit or credit cards.

What’s TokenCard’s vision on Security?

One of the security features in TokenCard is the ability to freeze a card on impulse, and setting a limit on spending capabilities.

Apart from that, the mobile platform is built to be highly secure. Any asset that is held in the smart contract wallet is very safe.

Examples of TokenCard use cases/applications

TokenCard offers several benefits that put it ahead of the pack. There are several reasons why TokenCard stands out, and these are some of the ways in which it can be used:

Remittances

TokenCard offers a better alternative to people who want to send money to their loved ones. Western Union is very expensive, PayPal is affordable, but they tend to freeze funds in the user accounts for no apparent reason.

The other alternative would be to send money directly through a bank account, but this is riddled with unnecessary middlemen, making it expensive and too slow.

Through TokenCard, users can send money and the recipient will get it instantly. One of the perks of using TokenCard is that you can purchase money in different tokens that are stable, keep them in your wallet and through TokenCard, send it. All the transfers are done directly on the Ethereum blockchain, so the recipient can get it in under 15 seconds.

E-sports

Anyone who is keen on e-sports gaming or trading will find TokenCard being a very useful project. One of the reasons why TokenCard is a better alternative is that it takes away the need to constantly move money between bank accounts and trading accounts.

Any earnings that you make online are automatically added to the TokenCard account, and you can use them in the real world. You do not need to take any other action.

Currency fluctuations

One of the biggest challenges that people have with money, especially when you are earning in a different currency from your preferred currency is the risk of currency fluctuations.

Most people lose money as the national currency rates change against the currency in which they hold their savings.

Instead of struggling through this, you can simply make an application, complete the KYC process, and in a few minutes, you should be able to hold your currency in any of the tokens that you desire. Even for someone who has never heard of the blockchain, Ethereum or Bitcoin, you can still benefit from this.

The Debit Card

TokenCard has a debit card that can be used for making payments in any terminal anywhere in the world. You can also use it at an ATM. To fund your account, you can use any of the acceptable ERC20 compatible wallets. Over time, more tokens are added to the list of acceptable tokens, depending on their stability and value.

Resources

https://coincheckup.com/coins/TokenCard

https://tokencard.io/

https://medium.com/@Tokencard

https://medium.com/monolithstudio/tokencard-faq-c13d8157544f https://tokencard.io/tokencard_whitepaper.pdf