What Is Wemix? (WEMIX)
Wemix is a platform that offers blockchain-based games. Wemix offers more than eleven games for users to play on the platform. According to the whitepaper, the network aims to become a self-advancing and self-sustainable based on blockchain technology. The platform also seeks to offer adequate technical and operational support to help maintain an active community.
The whitepaper mentions games are services based on experience. And the gaming value is maximized, and a sustainable blockchain-based game platform is established when components of the game converge with blockchain technology. However, the current decentralized game applications (dapps) are simple because of various problems, including low transactions per second (TPS) and high transaction fees. Due to this, integrating everyday gaming content with blockchain technology gets hindered. Further, the blockchain games’ simple nature has given rise to a vicious cycle of little enjoyment for users, leading to shortened lifecycles for the games that undermine sustainable profits for developers. The platform has resolved the issue of low TPS and excessive fees via using a blend of private and public blockchain functions and integrating them with intermediary chains under a hybrid structure.
The platform also reduces technological barriers for developers and financial barriers of entry and development costs by offering effective crowdfunding solutions. For this, the users can just sign-in with their Google accounts and no extra registration is required.
WEMIX is the primary digital utility token of the ecosystem. The tokens are issued in the public chains and can be transferred to the service chains if needed. WEMIX tokens are used as the medium for all trade activities within the ecosystem.
The token is used to pay fees on transferring tokens from the bridge chain to the public chain, staking, and paying fees for B2B solutions such as advertising networks, communities, admin. consoles, security modules, data analysis tools, universal billing modules, and data storage. The tokens are also used while rewarding the users. Users can trade tokens with other participants in the ecosystem or people outside of the system. Further, to get game-tokens (secondary ecosystem tokens), users first need to obtain WEMIX Tokens, which can be exchanged for game tokens. Besides, the tokens can also be exchanged for the items on the platform.
History of Wemix (WEMIX)
The platform was launched in 2019. The total supply of the token is one billion.
