The phrase “crypto token” refers to a unique virtual currency token or the method by which cryptocurrencies are valued. These tokens are fungible and tradeable assets or utilities with their blockchains. Crypto tokens are frequently used to collect funds for crowd sales, but they may also replace other items. The typical initial coin offering (ICO) procedure, which comprises a crowdsourcing exercise to support project development, generates, distributes, sells, and circulates these currencies.
How do Crypto Tokens work?
Crypto tokens, as previously stated, are cryptocurrency tokens. These tokens are denominated in cryptocurrencies or virtual currencies, and they have their blockchains. Blockchains are specialized databases that store data in blocks that are subsequently connected in a chain. This implies that crypto tokens, also known as crypto-assets, represent a specific monetary unit.
This is how it works. Elliptical curve encryption, public-private key pairs, and hashing functions are examples of cryptography algorithms and cryptographic approaches that protect these entries. On the other hand, Cryptocurrencies are online payment systems that use virtual tokens to make safe payments. The system’s internal ledger entries represent these tokens.
These crypto-assets are frequently used as transaction units on blockchains built using standard templates, such as the Ethereum network’s token creation tool. Such blockchains are based on the notion of smart contracts, or decentralized apps, in which programmable, self-executing code is used to handle and manage the Blockchain’s different transactions.
For example, on a blockchain used to store such information for a retail chain, you might have a crypto token representing a specific number of client loyalty points. Another crypto token might be issued that entitles the bearer to watch 10 hours of streaming material on a video-sharing blockchain. Another crypto token may potentially represent additional cryptocurrencies, such as 15 bitcoins on a specific blockchain. These crypto tokens are tradable and transferable among the Blockchain’s many members.
For example, on a blockchain used to store such information for a retail chain, you might have a crypto token representing a specific number of client loyalty points. Another crypto token might be issued that entitles the bearer to watch 10 hours of streaming material on a video-sharing blockchain. Another crypto token may potentially represent additional cryptocurrencies, such as 15 bitcoins on a specific blockchain. These crypto tokens are tradable and transferable among the Blockchain’s many members.
Special Considerations
Tokens are generated through an initial coin offering (ICO), the cryptocurrency equivalent of an IPO (IPO). Cryptocurrency firms that wish to create funds issue the tokens. These tokens can be purchased by investors that are interested in the firm. Crypto tokens may be used for a variety of purposes by investors. They can keep them as a representation of a share in the cryptocurrency firm or for economic purposes, like trading or making purchases of goods and services.
WHITEX and What Sets it apart?
With integrated and seamless interoperability across all blockchain networks and diverse contract systems that provide the best services all over crypto and global use, WhiteX is the best token for utility payments. WhiteX delivers the best services on every Decentralized Blockchain. For example, WhiteX was on TRC20 Blockchain, which helps for the low gas fee transaction, rather than ERC20 Blockchain. WhiteX is also an ERC20 that may allow for a more reliable Solidity Ecosystem rather than TRC20 Blockchain. WhiteX carries the symbol WHX and has a total supply of 200.000.000, with 16 precisions.
Secure: Reinventing the global equity of Blockchain.
Safe: Decentralized Blockchain Database.
Multi-Blockchain: Blockchain is more reliable since it has access to a vast array of globally decentralized blockchain networks.
Universal Functionality: Used in Smart Contracts and carries more functionality than the TRC10 Blockchain system.
WHITEX Roadmap and Listings
1st February 2021 WHITEX Created: WHITEX moved to Tron blockchain to decrease the transaction fees so that communities can happily trade and transfer their tokens.
1st March 2021 Ecosystems and Listing: Listed on good 24h volume market with deployment of the first ecosystem, TRC20-WHX Staking Platform.
15th March 2021 Beta Launching WHX Exchange: Launched other ecosystems for WHX that support all WHX types of Blockchain.
The next major update includes:
A second Ecosystem that will be announced in the long haul: WhiteX Team were discussed for the next ecosystem that may help WhiteX Project with WhiteX Partnerships.
Currently, WhiteX is listed on: AroEX, Azbit, BANKCEX, BITSTEN, Bololex, Coffe, Consbit, DEX-Trade, HOTBIT, JustSwap, KainBazar, Latoken, Probit, SatoExchange and Tarmex.
Like any other new token that comes out, WhiteX has similar aspirations: to make a difference and leave a lasting impact on the crypto world.
WhiteX’s Aim: WhiteX will be known as a great exchanger across many Blockchain with different pros, ecosystems that WhiteX also has, further benefitting the WhiteX Partnership, which can help the WhiteX project grow. WhiteX always tries to provide the best service on crypto.
Upcoming WhiteX Community VIP Token
WhiteX Community token is for VIP members. Its total supply is 500,000,000, with 1,000,000 in circulation. It uses TRON TRC10 Blockchain with the symbol WHXCV.
TRC10 Blockchain: It has excellent features, is secure and has valuable products based on Tron Blockchain.
Fast Transaction Speed: Comparing Tron coin to other familiar cryptocurrencies like Bitcoin and Ethereum, the Tron Blockchain is much quicker handling.
Scalability: Smart contracts are highly efficient, which provides multiple ways to develop applications on the Tron Network.
Low Transaction Fee: The cost of the entire design of the Tron Framework is quite reasonable and efficient, and thus users can benefit from low transaction costs, thereby making it easy.
WHITEX Achievements and Tokenomics
WhiteX, just like other crypto tokens, aspires to achieve the best in the world of Blockchain and Cryptocurrency. New coins or tokens must set themselves realistic goals to achieve their targets. This increases public trust and belief in the token. Thus, reducing the number of sceptical people who are still unsure about cryptocurrency.
- WhiteX is listed on 20+ Exchanges.
- Once the investment is made, users can stake, farm and mine
- WhiteX has uploaded its applications on the play store. Each is serving a different purpose
- WhiteX DEX, Burning and Freezing where WhiteX owns TRC20 and BEP20 with weekly burns and freezing for three years
- WhiteX CEX is also made available with several features
Tokenomics is a concept created by combining the words token and economics. So the term tokenomics refers to a crypto token’s economics; tokenomics refers to all of a crypto token’s attributes that make it desirable to investors. The tokenomics for a specific crypto token are generally extensively explained in the project whitepaper. It should help you understand its functioning, purpose, allocation strategy, and more. WhiteX’s tokenomics are simple.
- 2% of the supply is for the team
- 60% is burnt
- 10% for farming, staking, airdrop rewards and app rewards
- 28% made available for trading and left on the market
- 0% sale policy for presale, private sale and IEO
WHITEX Charity
People now have more information access channels because of the advancement of Internet technology, and the charity has become more open and transparent. Simultaneously, internet crowdfunding has emerged as a new avenue for the general public to engage in public-benefit initiatives. The crowdfunding platform has created a database for the project. Effective project monitoring is an essential component of the public welfare crowdfunding platform’s risk automated management system. Improving the openness of charitable data is a crucial approach to boost conventional contribution and online crowdfunding reputation. A traceability system may be built using Internet technology to enhance the technical transparency of charity. This article proposes a new model of philanthropy based on blockchain technology for this aim.
Similarly, WhiteX has also created a charity platform on behalf of their token. The purpose of the charity is to act as a covid relief fund for the affected and the poor. Currently, two active events are in place for the public to make their donations. The first one is Oxygen for India, and the second is Corona Virus Pandemic.
Due to the shortening of oxygen supply worldwide and especially third world countries whose medical facilities are being tested to the limit, India is in dire need of oxygen. So, this great initiative by WhiteX will undoubtedly leave a lasting impact and provide relief to the affected and the poor, who cannot afford the minimum healthcare required by an ordinary citizen.
The second event currently open for donation is the Pandemic Relief fund for people who lost their jobs and are struggling to support their families. Many people don’t have employment because of covid, and they can’t eat food or have anything. Support from state agencies, local governments, and individuals has been encouraging, and it’s allowing us to make a difference in these challenging conditions. However, there are millions more who require our assistance. Each prepared dinner will set you back $25, and each grocery box will set you back $825. Each grocery package includes rice, lentils, oil, spices, and veggies, enough to feed two people for 42 meals over 21 days. As a result, we will make every effort to provide them with various items for covid. Donations can be made in the form of cryptocurrency. WhiteX is currently accepting: Tron, WhiteX, Bittorrent and USDT.
Final Verdict
WhiteX offers seamless interoperability across all blockchain networks and diverse contract systems That provide you with the best services all over crypto and global use. WhiteX is the best token for utility payments. Furthermore, being listed on 20+ exchanges, the future looks bright for WhiteX and the people behind it. Keeping everything in mind, WhiteX is certainly the token of tomorrow and is worth the hype and investment.
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