WOW EARN, founded in 2022, focuses on developing crypto wallets and crypto asset mining services to provide users with a seamless Web3 transaction experience. Its goal is to create a secure, diverse, and user-friendly Web3 platform.
Table of Contents:
1. WOW EARN launches EVM-compatible chain and plans to achieve interoperability with 10 major chains.
2. Launches a wallet that provides one-stop service for crypto asset management.
3. Establishes a digital asset trading ecosystem around WOWCoin.
At the end of last year, DeFi mining platform WOW EARN announced the launch of the EVM-compatible Layer 1 chain, WOW EARN Chain, which adopts a hybrid Proof of Stake (HPoS) consensus mechanism. It can process over 2000 transactions per second with an average block time of 3 seconds. The launch of WOW EARN Chain marks another milestone for this crypto startup and officially enters a new phase in building the WOW EARN ecosystem.
In June of last year, WOW EARN announced the completion of a $30 million Series A funding round. Supporters of this round of funding include Pinnacle Innovations Capital, Blue Horizon Ventures, Ascendant Growth Partners, Nexus Pioneers Capital, and Quantum Leap Ventures. The funding was used to strengthen WOW EARN’s vision of democratizing crypto asset mining and providing users with convenient and secure access to the crypto world. According to official sources, the number of registered users surpassed 1 million in November last year.
As a decentralized public chain, WOW EARN supports Web3 developers to develop applications on the chain, and all users can read, send, and trade on the network. It adopts a hybrid Proof of Stake (HPoS) consensus mechanism, which combines Proof of Equity (PoE) and Proof of Stake (PoS). This hybrid model ensures a balance between security, speed, and cost-effectiveness, reducing transaction costs while maintaining competitive transaction speeds. In addition, WOW EARN supports meta-transactions, allowing users to gradually reduce the required gas fees, with the network bearing the reduced costs. The meta-transaction feature plays an important role in reducing the cost of migrating decentralized applications (dApps) for developers and effectively reducing the costs borne by dApp users.
WOW EARN Chain is based on the EVM network and supports smart contracts on Ethereum, with the ability to process high-performance transactions. Its computational engine is compatible with the Ethereum Virtual Machine. With this compatibility, developers can easily build and deploy decentralized applications (dApps). This compatibility enables seamless integration with the wider Ethereum ecosystem, enhancing the practicality and attractiveness of the chain. WOW EARN Chain will also continue to improve Ethereum’s efficiency by integrating Layer 1 scaling solutions, aiming to promote the development and improvement of the Ethereum ecosystem by providing additional support.
WOW EARN Chain is not limited to its native functionalities. According to WOW EARN, it will support 10 different public chains, including Base, OKX, Velas, zkSync, Gnosis, Algorand, Doge, Cronos, Klaytn, and Near. These integrations have been carefully selected to enhance various aspects from liquidity and security to scalability and transaction efficiency. Currently, assets such as Bitcoin, ETH, and stablecoins can be bridged to the WOW EARN network. The process involves locking a certain number of tokens on the originating chain and creating an equivalent number of tokens on the WOW EARN Chain. In addition to this, WOW EARN welcomes and encourages developers to build more decentralized cross-chain solutions.
In summary, the characteristics of WOW EARN Chain are mainly reflected in the following three aspects:
1. Speed: WOW EARN Chain has a transaction processing capacity of over 2000 transactions per second and an average block time of only 3 seconds. It is designed to handle a large volume of transactions.
2. Innovative consensus mechanism: The hybrid Proof of Stake (HPoS) creates an environment where miners and users mutually benefit through advantages such as low transaction costs, low latency, and high concurrency. It supports 21 validating nodes, ensuring a decentralized and efficient verification process.
3. Sustainable economic model: WOW EARN creates a self-sustaining economic cycle within the ecosystem. The native token, WOWCoin, serves as both the gas fee for transactions and incentives for staking, providing users with a convenient, fast, and low-fee public chain experience.
WOW EARN Wallet was launched on May 29, 2023, and is available on Google Play Store and App Store. This crypto wallet not only serves as a tool for managing funds and transactions within the WOW EARN ecosystem but also offers various features, making it a one-stop application for crypto asset management. Through this platform, users can enjoy various integrated basic functions in one place, facilitating easy and efficient management of their digital assets.
WOW EARN Wallet supports over 100 payment methods in more than 150 countries and regions worldwide. It currently supports multiple public chains such as Bitcoin, Tron, Ethereum, and Polygon, as well as nearly a hundred digital assets. To attract more users, WOW EARN Wallet offers airdrop facilities, allowing users to earn WOW tokens as rewards. Additionally, users have the opportunity to explore investment opportunities and earn rewards on the WOW EARN platform. Users can increase their income and expand their network in the crypto community through the incentive-based referral program provided by WOW EARN Wallet.
Furthermore, WOW EARN Wallet provides access to over 20,000 built-in decentralized applications (dApps) from various major networks, allowing users to directly explore and participate in various Web3 applications from the wallet. With support from WalletConnect, users can easily connect to other dApps for various transactions and operations, providing opportunities to participate in various DeFi projects, explore the NFT market, and join decentralized social networks.
In terms of security, WOW EARN Wallet offers multiple identity verifications to protect users’ privacy and security. Through facial recognition and biometric fingerprint identification technology, only authorized users can access their wallets and assets. Additionally, the wallet allows users to have full control over their assets. Private keys are stored in encrypted form on users’ local devices and provide password settings and passphrase functionality for additional security.
WOWCoin (WOW) is a token jointly issued by the WOW EARN community and developers. As a governance token, it plays an important role in the construction of the WOW Metaverse ecosystem and execution of transactions. The total supply of WOW is 1 billion, and it adopts a deflationary model. Out of the total supply, 500 million tokens (50%) are allocated to mining pools, 100 million tokens (10%) are held by the WOW EARN team, 150 million tokens (15%) are allocated for business development, 200 million tokens (20%) will be distributed to private institutions, and 50 million tokens (5%) are reserved for community incentives.
WOW EARN is also building micro-transaction services, aiming to lower the financial barriers and risks for users and improve their market participation. The WOW EARN platform will soon enable the functionality of deducting micro-transaction fees with WOW Coin, further enhancing the trading experience and earnings of traders, while promoting the circulation and use of WOW Coin. In addition to micro-transactions, WOW EARN plans to launch more services and features that will contribute to building a comprehensive digital asset trading ecosystem, providing users with a wider range and more convenient digital asset trading experience.
In the future, WOW tokens will become the universal currency for WOW Metaverse and other game projects developed by the WOW EARN community. In addition to community governance, according to the project’s plan, its future application scenarios include digital asset transactions such as NFTs and game items, purchasing advertising space and sponsoring events for advertising promotion within the platform, financial services such as lending, wealth management, and insurance, gifting and tipping in social scenarios, and buying and selling virtual assets such as land, buildings, and artworks.
According to the roadmap, WOW EARN has gradually completed various plans, including reaching millions of registered users and establishing the WOW Metaverse. In the first quarter of this year, WOW Coin is expected to be listed on decentralized and centralized exchanges, bringing WOW EARN closer to its vision.
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