Hello everyone, and welcome
back to our channel. Today, we will be explaining the mechanism behind
converting Wish Stone to Wish Coin, and Wish Coin to other cryptocurrencies. We
believe you all know the difference between Wish Stone and Wish Coin by now. To
put it simply, Wish Stone is the cryptocurrency used for transactions on the
private blockchain, and Wish Coin is the cryptocurrency of the Wish Chain
public blockchain. You also know that you can earn Wish Stone through digital
experiences, but you may be wondering if you can convert those Wish Stone
tokens into Bitcoin or other cryptocurrencies. The answer is yes, you can
through nodes that are called Node Ws.
Before we go into Node Ws,
let’s take a look at this table.
Wish Stone cannot directly be exchanged for other crypto assets, nor can other cryptocurrencies be directly traded for Wish Stone. Wish Stone must first be exchanged for Wish Coin, which can then be traded for Bitcoin or Ethereum through third party exchanges. Now going back to Node Ws.
A Node W is a node on the
Wish Chain blockchain that plays the special role of facilitating Wish Coin to
Wish Stone and Wish Stone to Wish Coin exchanges. You can think of them as currency
exchanges. What incentivizes Node Ws to perform this task for the Wish Chain
ecosystem? There are two major incentives. First, Node Ws can set different buy
and sell prices for Wish Coin, meaning they can make a profit by setting a
higher sell price. As different Node Ws compete in the market, we expect buy
and sell prices to reach a point of equilibrium.
This brings us to our
second incentive for Node Ws. Implemented in the Wish Chain ecosystem is a
scoring system for all Node Ws, and one way Node Ws can earn higher scores is
through their contribution to Wish-Coin-Wish Stone exchanges. Node Ws also
receive points for the deposit time period of their Wish Coin, the amount of
Wish Coin deposited, and the amount of Wish Stone received through digital
experiences. Based on their scores, Node Ws are ranked from level 9 to level 1,
with level 9 being the highest and 1 being the lowest. The higher a Node W’s
level is, the higher the reward amount for that specific Node W. In this
system, it is in the Node W’s best interest to contribute to more Wish
Coin-Wish Stone transactions so that they can reach a higher level to receive
the most rewards.
In this way, Wish Stone
must go through Node Ws in the Wish Chain ecosystem to be traded for Wish Coin.
The Wish Coin can then be sent to exchanges and traded for other assets. We
hope this article helped you understand how Wish Stone is converted to other
crypto assets through Node Ws. Thank you all for stopping by again today!
. . .
For more information,
please visit our website at https://wishchain.io/
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