WEMIX (WEMIX) news

What Is WEMIX3.0 (Mainnet)?

WEMIX3.0 mainnet is a decentralized blockchain protocol that powers a web 3.0 ecosystem of platforms. The mainnet is open-source and compatible with Ethereum Virtual Machine (EVM), and it's powered by the SPoA consensus mechanism. The protocol offers high security through decentralized on-chain governance via 40 Node Council Partners. This ensures high transaction per second (TPS) while still maintaining security. The consensus will eventually evolve towards complete decentralization through a multi-phase democratized governance approach.

What Is WEMIX?

WEMIX is a digital coin used as a means of payment and exchange for gas fees in the WEMIX mega-ecosystem. The coin is minted with every subsequent block generated, and the PMR (Permanent Minting Reward) is distributed among the Node Council Partners (50%), the ecosystem fund (25%), and maintenance (25%).

What Makes WEMIX Unique?

The WEMIX mega-ecosystem consists of various platforms and components that are both individually functional and collectively aligned to contribute to its growth and expansion. These platforms include WEMIX Play, which is a gaming platform with pay-and-earn options for gamers; NILE, a community platform powered by DAO that facilitates project creation and management; WEMIX.Fi, a DeFi platform that offers transparent and secure financial services; WEMIX$, a stablecoin protocol with 100% collateralization of assets; WEMIX Wallet, a decentralized wallet for managing crypto-assets; WEMIX Explorer, which consists of a Macroscope and Microscope for data collection and analysis; Papyrus, a token-based communication tool; and 40 WONDERS, a group of technology and ecosystem sponsors that ensure governance and security for the WEMIX network.

How Is the WEMIX Network Secured?

WEMIX is a decentralized protocol that runs on the SPoA (Stake-based Proof of Authority) consensus algorithm, ensuring high performance and security. It is supported by 40 decentralized authority nodes, called 40 WONDERS, which are operated by a team of highly qualified global partners. WEMIX implements the variable total gas fee formula, which is part of an implementation of a transaction pricing mechanism. This mechanism dynamically expands and contracts gas prices to deal with momentary transaction spikes within the network. This reinforced security layer makes it impractical for attackers to continuously attempt malicious network spams.

Who Are the Founders of WEMIX?

WEMIX PTE. LTD., a subsidiary of WEMADE, founded WEMIX in 2018 with a clear vision to develop a blockchain gaming platform that connects in-game and real-world economies via tokenomics. Since then, WEMIX has led the P2E market. On October 20, 2022, WEMADE launched WEMIX3.0, an independent blockchain network, to strengthen the mega-ecosystem and establish WEMIX Coin as a significant currency in the blockchain industry.