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Wednesday, December 1, 2021

DARWINIA (RING) – Review

Hello everyone, welcome to my team’s content review I’m Roy, one of the members of Team Hidden Gem Mydas Today I will also review a new project for you. Before going to the main topic, I would also like to sincerely thank all of my brothers and sisters, friends who have supported the team in the past. Before going into this, I would also like to remind you once again There are many ways to make money in the crypto market But for my team.

I will go a little more traditional, which is research and research Real diamonds My team does not push or chirp for my project review The purpose of the review here is to share the knowledge that Helps people have a better overview of the market and can give people better judgments about the whole market or crypto projects Ok starting with the review.

And the project that I have today I want to review it’s Darwinia Network Native Token (RING) Before diving into the classes in this project, I will flip through Coingecko for basic info Its current price is at 0.14$ And its capitalization is 64 million$ And the cap is neither too small nor too large, and investable for Hidden Gem projects are the 1st The second you can find out information about Darwinia on its website which is Darwinia network Or you can go to Medium to learn, read more informational articles about Darwinia In addition, you can see or check its social network.

Find out how FOMO the community is. See if it’s real or not, or how it affects the community. And here’s why. Weibo and Bihu, because these 2 sites are Chinese, and because Darwinia’s CEO is also Chinese, there is information on Weibo and Bihu After having briefly checked the basic information, I will review the Price it’s a little bit see how it goes up or down in the future or in the past so we can make a decision This is Darwinia’s chart As you can see To see it is Darwinia.

It’s just the name of the project and its token is RING As you can see, We can see its chart is the beginning of 2019 and started to increase sharply in July I would like to remind Everyone remembers Between April and early May The market started to grow Old and new cryptocurrencies grew during that period Particularly those in 2019 or ICOs but not as popular as SORA or Polkadots From July to August, the growth explodes, dozens of times or more than 100 times Like Sora or Polkadot, but I don’t remember exactly how many dozen times the price of this Darwinia is mid-July has been around $ 0.005 and has grown the most.

The most recent price on September 1st increased to $ 1.6 I estimate that it increased about 30 times If counted from the middle of July, 40 days ago, it increased by 30 times. if you already know about this animal or have done research on this animal, enjoy this one.

And everyone who doesn’t understand about Polkadot’s project, it is why these are Polkadot’s ecosystem Then you can watch our team’s video review of Polkadot And we’ve gone through the basics of Darwinia And let’s find out what it is, it has keywords or what applications can support and develop in the future.

To know Darwinia what it is we have to go to its website to see the research section According to the information of the website and the team Then Darwinia are Internet tokens of tokens, which can be connected to each other Is an open Blockchain-based protocol bridge based on substrate Darwinia focused on frequency structure.

The future of the internet of tokens Including decentralized token swap Decentralized Exchanges and Decentralized Markets The Definition We Have Read So Can We Really Understand It If We Aren’t Programmers Then Here I Have 3 Keywords.

That you need to remember, CROSS CHAIN, SUBSTRATE, NFT We must know these 3 keywords then we will determine What does this project do? Cross-chain is an intersection between two blockchains For example, the blockchain of ETH and NEO, or the blockchain of EOS and Polkadot, or Sora’s Cross-chain is a bridge of interference between two blockchains.

And why is there a need for a Cross-Chain in the middle, The two blockchains have different structures, so there needs to be an intermediary to interfere with each other? Let me give you an example to make it easier to understand when you deposit money in bank A, and this bank gives you a ledger.

And when you hold this ledger, you go through bank B, you mortgage this ledger to withdraw money, then the ledger is at this is the bridge between the two banks, the ledger is like a cross-chain in the blockchain, then the bridge is the Cross Chain And what is the Substrate It can be simply understood as a set of Frameworks Support for programmers Building applications on blockchain easier, projects built according to Substrate standards can run natively on Polkadot If I’m not a technical person then Substrate can be understood as simply that. That means the framework is pre-configured with a frame. Like a house with a full layout. And when you move in, you build apps, you just need to finish. intelligence or personalization Without having to rebuild it from start to finish, rebuilding the ribs around it, you can simply understand that. These are simple examples to help non-experts understand.

Get Cross Chain or Substrate And if you are a programmer, you can share more in the comments below to help the community One thing that I said is NFT Non-Fungible Token Meaning non-fungible tokens I will not go into depth about these keyworks what it is, you take the time to learn more on Google for more clarity In this content I will focus on Darwinia project In addition to overview Darwinia what it is This project has Keyworks and what features it has listed 5 main features on its information. The first is the Cross Chain I explained earlier. Second, it is Polkadot’s first Parachain It can be said that it benefits from Polkadot’s ecosystem because it’s the first parachain The third one is Decentralized Backing It’s a technology platform that can provide and support for blockchain building The 4th one is the Decentralized DEX Token And the 5th one is the NFT Market Which means the market for immutable tokens.

There is also the 5 keywork key features of the Darwinia project It can support for crypto or for real problems on blockchains And below is the design structure of the bridge in Darwinia, here it is the publish chain It can be ETH, TRX, EOS or SORA for example Or Evolution land or other chains want to connect, want to read and understand each other It has to go through something called Darwinia’s chain bridge.

And in parallel, it’s the first parachain on the Polkadot ecosystem We’ve gone through the 5 main keys from this Darwinia project The next part that I want to slice it is the token Specification ens Darwinia’s token is Ring used as a burning fee for transactions Burning is a transaction fee or a contract execution fee Or a network fee, a storage fee KTON can simply be understood as.

When LOCK token RING will receive KTON, KTON is considered as a reward The meaning of the team they built is that they want to encourage users to make commitments Users can lock RING from 3 – 36 months to Stack the System its system will provide new tokens which are KTON as a reward for Stacking participants. Too stacking it is also considered as Proof Of Stake Then the miner of energy tokens has to commit the number of tokens in mining the Application of the ecosystem is divided into 2 parts The first is Tokens DEX Is a decentralized application based on a cross-master bridge for Darwinia That’s what I translated into Vietnamese, and in English, it is called Cross-Chain Bridge as the core technology.

It is possible to perform automatic cross-chain services between tokens. As I mentioned earlier, Of the 2 banks The second is NFT Market It’s a decentralized NFT auction market It supports auctions Immutable tokens Of different blockchain networks Through cross-chain duel Create a circulation scenario on the new NFT cross-chain.

And this is one of the 2 strongest apps in its ecosystem Here is a more in-depth look at Token economics you can read it again in Medium Here are its specifications Initial Total is 2 billion and its hard cap is 10 billion for 40 years So how does it allocate its finances.

It’s for financing 30% The first part is 10%, about 10 million dollars 20% is for foundation and lock for 2 years At the start of mainnet It’s for its team 15% Lock for 1 year, after 1 year from mainnet 15% for business development and marketing 20% for the community included Even the airdrop inflation is calculated at 4% a year according to this version about 500 million tokens are in circulation However there are 200 million tokens being locked for stashing. King so the number of circulation is very small. As for KTON it is a governance token, used to encourage users to hold RING to enjoy KTON tokens that are not initially supplied but only born when staking RING Dev Team of Darwinia is Entering Tech or you can check it on Medium its CEO is Denny Wang I read briefly about its team’s information is Chinese so it also has limitations on its association and money Dev Its team is Entering.

IO Team was founded in Singapore by 2 core founders who are core members of the Bitshares project, I briefly talked about Bitshares Bitshares aka BTS Very unique and interesting project Some The standard on decentralized exchange and the stable coin was first built by this platform in 2016, 2017 It can be said that at that time in terms of technical background The application of this project was considered outstanding, but the team is in China.

That is the information of Team Darwinia And its social network is like, watch group te legram is focused and prices and how to buy and sell On Twitter it is relatively regular and it has talks in China You can find out and if you want to listen again on Twitter or youtube Also on Coingecko then the growth is good recently it’s March 2020 Because the growth and FOMO are very good Let’s talk more about its platform Previously it developed game apps, evolution land and ran on the platform Etherium and Tron.

Then combined and developed into a Substrate on the Polkadot platform And this game application also uses the technology of NFT, which is the same in-game item Darwinia also considers NFT cross digital assets chain is the highest priority business development direction And currently, the team is running the testnet on Crab Network It’s like Polkadot’s Kusama network And according to Darwinia’s roadmap, the main net will be released in Q3.

And the team also created one of the tools to support this project Darwinia Here I will also evaluate the US I won’t go into too much detail about its tech tricks as you can see on its roadmap These are its tech terms and have named its development roadmap as Crab Network Either Icefrog’s testnet frog network or Crayfish’s testnet.

These have a meaning and it has its own term In its industry and it named this route after this I will do not go through these terms in depth because it will be a bit dry and it will be difficult for people Difficult for non-developers and technical people, I will give a preliminary assessment of this child Strengths and weaknesses Its weakness is using a dual token model that is RING and KTON It is considered by the team to be an outstanding advantage, but We need time to verify it And at the same time, I researched I read A technical analysis article about it, it is suffering from one. On Crab’s Testnet, it runs on C KTON and C RING. are terms specific to technology or its technique I am also researching and learning more To ask more about its team to understand To better understand its picture The second point is the technology Its technology is too complicated It will be difficult for people who are not programmers.

Or technical developers Reading into these terms will be very dry and very difficult to understand Its general overview Although However, I have observed its activities on Facebook quite well, it is proven that it works and it is interactive on GitHub What is its strength.

As before, I also emphasized one thing that is it is Polkadot’s Parachain It is pioneering in the field of Connecting to blockchain in Polkadot’s ecosystem So it also benefits from the explosion of the system on the Polkadot ecosystem Second it is not a strong point but which it can call a reminder The key time for its main net launch in Q3 2020, and m I will only evaluate and review here. For those of you who specialize in engineering, who want to understand after me, there are links below the description. For one person to enter, one more thing is if people have questions.

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