Explaining Wish Coin and Wish Stone

Blockchain projects, depending on their design and structure, often adopt more than one cryptocurrency for their ecosystem. For example, VeChain Thor has two cryptocurrencies, VET and THOR, that are used for different purposes within the VeChain network. In the same vein, Wish Chain has two cryptocurrencies in its ecosystem. As we mentioned in our previous piece, they are Wish Coin and Wish Stone. By the time you finish reading this post, you will be able to fully grasp the difference between Wish Coin and Wish Stone.

What is Wish Coin?

The Wish Chain public blockchain’s cryptocurrency is Wish Coin. Here are the characteristics of Wish Coin.

1. Wish Coin’s total supply is fixed.

2. Wish Coin’s price fluctuates freely.

3. Wish Coin has value as a utility.

4. Wish Coin is rewarded to those who produce blocks to help keep the network running.

5. Wish Coin exists on the Wish Chain public blockchain.

I’m pretty sure you’re getting an idea of Wish Coin’s role in the Wish Chain ecosystem. Its main purpose is to serve as a reward for nodes on the public blockchain. Wish Coin is also required for people to convert their Wish Stone to other cryptocurrencies - we’ll get to that later. Because of the public blockchain’s inherent limitations in terms of scalability and price stability, Wish Coin is not a medium of exchange within the Wish Chain ecosystem. This is Wish Stone’s role.

What is Wish Stone?

Wish Stone is the private blockchain’s cryptocurrency that is used as a currency within the Wish Chain ecosystem. Here’s are the characteristics of Wish Stone.

1. Wish Stone is on the private blockchain.

2. Wish Stone’s total supply is not fixed.

3. Wish Stone has a fixed price.

4. Wish Stone is used as a medium of exchange.

5. Wish Stone is rewarded to participants of the network for their experience.

6. Wish Stone has allows for fast transactions.

Wish Stone is spent and received by consumers who have Digital Customer Experiences (DCX) at Wish Chain’s offline Future Stations. People can pay with Wish Stone to have a certain digital experience, and they are also compensated for interacting with content made by businesses. This image should help you understand how Wish Stone works.

Where does Wish Stone come from?

We know that Wish Coin is rewarded for block creation on the public blockchain. Wish Stone, on the other hand, is created through smart contracts on the private blockchain. New Wish Stone tokens are minted by businesses who want their content to be seen by users. First, businesses deposit and hold Wish Coin on the contract, and whenever a customer engages with their content, Wish Coin are converted to Wish Stone and rewarded to the customer. Because Wish Stone’s supply is unlimited, anyone with Wish Coin can mint new Wish Stone tokens. Wish Stone, whose value is fixed, can then be freely exchanged for goods and services within the ecosystem as a currency.

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For more information, 
please visit our website at https://wishchain.io/