Unlike most other cryptocurrencies today, Webchain is a platform where developers can build stuff on (the type of thing that gets me excited the most!) The main currency on the platform is called WEB.
Just like Ethereum, Webchain too will provide support for ERC20 and ERC223 tokens on their Webchain Network platform. In fact Webchain is based off the code of Ethereum Classic so the two are actually quite similar in certain aspects.
Not quite Ethereum
Ethereum and Webchain are similar in a sense that they both support Decentralized Applications. What makes Webchain stand out, however, is the fact that it is completely ASIC resistant and mineable with almost any regular CPU out there. It can even be mined on your Android phone and many other Internet Of Things connected devices. For example my ancient laptop is capable of mining 1 WEB per day on a i3 CPU.
From the creators of CoinImp
Fun fact: a while ago, when I was lurking around their Discord chat, I noticed the admin say that one of their users is earning around $10,000 USD worth of Monero every single day with their web based miner. Damn that’s a lot of money!
Ethereum killer… again?
Every once in a while someone launches a random project and claims it will be the Ethereum killer. Sure, whatever floats your boat. Thing is, I strongly believe Ethereum will be the backbone of the internet 3.0 and it will take something else to convince me otherwise. But that doesn’t mean Webchain has no chance at all or that it will be useless. Far from it!
For all intents and purposes both Ethereum and Webchain can be friends in the future and work together towards a better internet. Why do I think that? Let me explain.
Webchain vs. Ethereum
Obviously the biggest thing Webchain has going for them is the ability to mine it with almost anything that has a CPU. Ethereum on the other hand can only be mined using specially built mining rigs that are very expensive. That means only tech nerds (like me) can mine Ether while anyone else, even your grandmother, can mine WEB.
When you think about this for a moment, you’ll realize that this feature alone allows Webchain to potentially become way more decentralized than anything we have seen before.
When a website owner can earn crypto from their traffic, why would they bother placing ads on their site that drive most people away from their site to begin with?
Built for webmasters
The team behind Webchain is also in the web hosting business that already accepts WEB for payments on their platform and they are planning on integrating WEB mining directly into the backend of webmaster’s control panels. That means you can pay for your hosting simply by mining some WEB while your computer is idle.
Or better yet, you can pay for your hosting using the processing power of your website visitors. While NOT displaying any annoying advertisements to them whatsoever.
Where to buy Webchain Coin?
Because it’s early days for the project, they are not yet listed on many exchangers. And they aren’t really working on getting their coin listed anywhere right now. That’s because they believe a company should have a product ready FIRST and then work on the marketing, not the other way around.
That said, you can buy Webchain coin with Bitcoin and almost any other cryptocurrency on an exchange called Stex. It’s a great place to trade any crypto, but for now they are the best if you are after some Webchain.
As of today WEB costs around $0.005 which makes it perfect to buy when you consider that the majority of altcoins manage to reach at least $0.1-$0.2.
Obviously I can’t make any guarantees it will be worth anything in the future, but the odds are certainly in their favor. Here’s why:
- The team has already proven they know what they’re doing (CoinImp).
- They never held any ICO and are actually strongly against ICO’s in general.
- Their mentality is “build first, market later” which shows they are not into useless hype and probably the reason why you’ve never heard of them before 😉
- They are looking to build an entire ecosystem with hosting services, ad networks and other partnerships intertwined where WEB is the main currency.
- WEB is easy to mine with almost any device so they will certainly attract interest from DAPP developers who are currently building on Ethereum and are finding it too expensive and problematic for various reasons.
Since WEB can be mined on a lot more devices, it can potentially make Webchain way more decentralized than anything we’ve seen before. With Ethereum and other cryptocurrencies the power is in the hands of the elite who own expensive mining rigs, but with WEB anyone can mine it. And I mean anyone!