What is Coinweb (CWEB)?
If we want blockchain technology to take the next step, something will have to be done about interoperability. Interoperability refers to the cooperation between different blockchains. By nature, blockchains cannot interoperate with each other because they all use different technologies.
Coinweb (CWEB) is a cryptocurrency that aims to solve the interoperability problem. They do this through a cross-chain platform that connects different blockchain
What is Coinweb?
Because each blockchain works in a different way, they cannot interoperate with each other. For example, different protocols and techniques are used, so an asset cannot be exchanged between each other.
Coinweb is a project that aims to bring all blockchains together, in order to close the gap. This is done through Coinweb's Inchain architecture on layer 2. In this way, blockchains, no matter what consensus mechanism or token protocol they use, can interact with each other.
How does Coinweb work?
Coinweb is a blockchain platform that works between several independent blockchains. The blockchains attached to the platform can interact with each other through Coinweb's platform. This is due to the inchain technology developed by Coinweb.
It does not matter what consensus mechanism, token protocol or other rules the blockchain uses. Coinweb ensures that the platform can read the data from a blockchain and convert it to the standards and protocols of the blockchain where the data is to be delivered.
Cross-chain token issuance
By means of Coinweb, it will be possible to send tokens across different blockchains. This is not normally possible, as each blockchain has its own token standard. For example, Ethereum uses ERC20, while the Binance Smart Chain uses the BEP20 protocol. Therefore, you cannot send USDC tokens over Ethereum.
Coinweb ensures that tokens are converted to other standards, making it possible for users to send an asset to other blockchains.
High-capacity smart contracts
It is possible with Coinweb to make smart contracts work between different blockchains. This allows DeFi
protocols to receive more liquidity from different blockchains, which will make these types of protocols work much better.
> Read: what is a smart contract?
Coinweb allows dApps to move between different blockchains. This allows the best functionality to be achieved. Suppose a blockchain is very busy, and the processing time is a lot longer because of this, a blockchain with a low processing time can be used. This will also save on the cost users have to incur to use the dApp.
Because different blockchains can be used, new user possibilities will also arise. This will allow developers to develop more and better dApps, which otherwise could never be developed.
The technology devised by Coinweb is not new. Since the early 2020s, this technology has been used as a private blockchain. At that time, a proprietary cross-chain stablecoin called Starpoints was designed as a test. This stablecoin could be sent between multiple blockchain without any problems.
Coinweb's wallet is simple and can be used by anyone. In doing so, it is also proof that the technology developed by Coinweb works. Users can store different tokens and crypto coins in this wallet and assign them to different addresses. Then tokens can be exchanged with each other, and various banking options are integrated, including Visa, SEPA and Mastercard.
Coinweb has its own token, called CWEB. Before buying into CWEB tokens, it is important to always do your own research and not just take the advice of others. This way you will learn why an investment goes right or wrong, so you can adjust your strategy accordingly in the future.
Where can I buy Coinweb (CWEB) tokens?
You can buy Coinweb tokens easily and securely at Coinmerce. If you already have an account at Coinmerce, first log in and then go to the Coins page via the menu. Here you can search for Coinweb by using the search bar.
At Coinmerce, it is possible to buy CWEB tokens with iDeal, SEPA, Giropay, Bankcontact, Sofort, EPS and MyBank.
Don't have an account at Coinmerce yet? No problem, you can easily get started by creating an account here
. After your account has been created and verified, you can begin buying CWEB tokens at Coinmerce.
How to store CWEB tokens?
After purchase, you can store your CWEB tokens in Coinmerce's software wallet. You don't have to worry about security, because we always store a large portion of our tokens in cold storage. This keeps them out of the hands of people who should not have access to them.
Of course, it is also possible to store your CWEB tokens in your own hardware wallet. Virtually every hardware wallet, such as Ledger and Trezor, supports Coinweb. To send CWEB tokens from Coinmerce to a hardware wallet, you will first need to verify the address of the hardware wallet with Coinmerce.