What Is Coinweb (CWEB) And How Does It Work? | KuCoin Crypto Gem Observer

2021/12/29 09:57:46

Coinweb is a cross-chain computation platform that delivers true interoperability for real-world usage. Coinweb’s unique approach is based upon the InChain architecture, enabling dApps built on top of the platform to take maximum advantage of blockchain interoperability with fewer trade-offs.

Coinweb aims to make it seamless for anyone to use blockchain technology anytime. Current blockchain technology has several drawbacks. For instance, it is too disconnected and hard to use, and each blockchain project operates in its own little universe. Coinweb has identified such blockchain challenges and aims to solve them, leading to a significant increase in the rate of mass adoption.

What is Coinweb?

Coinweb is a blockchain infrastructure project founded in 2017 that aims to solve the existing blockchain problems and ensure that blockchain technology is safe and easy to use for all. It seeks to provide an answer to most blockchain technology shortcomings that have hindered both mainstream and enterprise adoption.

Coinweb is pushing towards mass adoption of Blockchain technology, and the most viable if the not only way to achieve that is by scaling. The key to scaling is making it easier for everyone to use, just like it is easier to use the internet and computers today. With Coinweb, you will be able to use different blockchains at the same time, as if they are one blockchain.

dApps unlock massive benefits to the world, but when launching a dApp, there are risks to consider as well. Some risks to consider are:

· Adequate decentralization to fully provide censorship resistance, availability, and security

· Reliance on a special miner community support to guarantee a safe operation

· Flexibility to embrace subsequent technical advancements

· Ability to process the required transaction volumes and meet computation demands in the long run

· Support common toolchains hence increasing access to developer resources and cutting down costs

The majority of these risks can be mitigated by blending the functionalities and unique properties of several blockchains. For instance, we can avert blockchain failure by transitioning to a different chain or incorporate innovations by adding novel blockchains.

How does it work?

Coinweb uses the InChain architecture that allows dApps built on top of the platform to take maximum advantage of blockchain interoperability with lesser trade-offs. This unique architecture results in better blockchain technology since it is possible to keep the properties of the underlying blockchains and tremendously increase the usefulness and efficiency of dApps.

Who Created Coinweb?

The Coinweb team is led by Toby Gilbert, who is the CEO. Nonetheless, Toby Gilbert is not just like any typical CEO you have come across. He has run other successful businesses before, building and exiting 3 successful telecommunication companies. He has a clear vision for Coinweb and strives towards the mass adoption of blockchain technology.

Other critical members on the Coinweb team are founding CTO Knut Vinger and Chief Architect, Alexander Kjeldaas. Generally, the Coinweb team comprises experienced market leaders and enterprise experts in technology, all boasting success stories from other renowned successful companies such as Google, Cisco, Microsoft, and Oracle.

What is Coinweb doing?

Coinweb is enabling mainstream adoption of blockchain technology. Coinweb has developed its cross-chain computation platform, an infrastructure layer that connects chains, resulting in optimum blockchain use.

Coinweb incorporates solutions developed on the platform to select and pick functionality from the respective blockchains through cross-chain computation. This includes, for instance, the setup and execution of cross-chain compatible smart contracts and future-proofing dApps by connecting the latest blockchains in the market.

There is no doubt that blockchain projects are spreading like wildfire from pilots and productions as governments and businesses finally see the essence of smart contracts, distributed ledgers and the wider technology.

As the interest for enterprises and governments increases, it results in a need for enterprise-class solutions that incorporate interoperability, scalability, reliability, and smart contract security. As of this moment, Coinweb has attracted a wide array of global projects willing to build on top of and embrace the Coinweb platform.

To date, Coinweb's two DeFi projects, each with 120,000 active users, have sold over $90 million in stable tokens issued on the Coinweb platform in the last year.

Several well-known household names and blockchain projects have entrusted their confidence to Coinweb due to be announced shortly.

This includes, but is not limited to, the following:

· World-famous artists for cross-chain NFTs.

· A partnership with one of the world's leading carmakers looking to take advantage of blockchain technology.

· Two significant global real estate businesses, looking to tokenize their property supply.

Closing Thoughts

Coinweb can leverage a void in the current blockchain Web3 market. Because of its ability to link blockchains and their experts with businesses worldwide, Coinweb has the potential to provide enormous value to the general public.

Finally, KuCoin will list Coinweb (CWEB) and open the CWEB/USDT trading pair as a world premiere on December 30th.

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