One of the projects in the Polkadot ecosystem network that is interesting to study is the Darwinia Network. This project in the Polkaproject list ranks 7th, under the Chainlink oracle.
This is one of the projects that support developing interoperability between Blockchain networks.
Darwinia Network operates for bridge gaming NFT, currently ranks #675 on rating site Coinmarketcap, and getting 26,565 people to look in Darwinia native tokens (RING) on watchlists. At press time the RING token price is $0.03754 with a market cap of over 16 million USD.
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- 1 What is Darwinia Network?
- 2 How does Darwinia Network work?
- 3 Darwinia Network team
- 4 Darwinia Network roadmap
- 5 Darwinia network native token
- 6 Darwinia Network wallet
- 7 How do I stake the Darwinia network?
- 8 Darwinia network application ecosystem
- 9 Darwinia CRAB Network
- 10 Where to buy Darwinia Network?
- 11 Is Darwinia a good investment?
- 12 Darwinia Network price prediction
- 13 Final thought
What is Darwinia Network?
Darwinia network is a blockchain network that bridges connections between other blockchains, so it is interoperable, can be connected to Polkadot, Ethereum, TRON, and other heterogeneous chains via cross-chain.
Darwinia’s decentralized network is built on Substrate, which is referred to as the “Golden Gate Bridge” in cross-chain ecology. A number of applications can be built on the Darwinia Network such as Defi, cross-chain NFT trading, games, etc.
Darwinia network is a partner of the Polkadot ecosystem, even Gavin Wood, founder of Polkadot said that Darwinia is a good project to watch.
How does Darwinia Network work?
Darwinia Network is part of the Polkadot ecosystem, using Substrate technology, but this network is more focused on cross-chain blockchain games or Dapp tokens.
So that it is easy to transfer tokens through the Darwinia network. So for example, if you have an NFT on a Cryptokitties game that is based on Ethereum tokens, you can transform it to an NFT token in a game that uses NTF EOS tokens through the Darwinia chain.
Furthermore, players on Ethereum can play the same games for example Evolution Land via the Darwinia Network simultaneously. And with ecosystem polka dots, Darwinia’s network is more connected to games and players.
Darwinia’s architecture was designed as a cross-chain bridge which can be described as illustrated below.
Darwinia Network team
The core team of the Darwinia network are Alex Chien and Denny Wang, they are both co-founders of the Darwinia network.
Alex Chien background graduated from Shanghai Jiao Tong University which specializes in Blockchain and smart contracts.
Denny Wang has a graduate background from Nanjing University, major Mathematics. He is also an expert especially in the field of Blockchain and smart contracts.
Experienced as one of the core developers of BitShares 1.0 software. And also work on Ethereum company Chinese Alliance as vice.
Darwinia Network roadmap
2018 launched Evolution land, Q1 Evolution land Atlantis continent, Q2 Evolution land Byzantine Continent, Q3 Darwinia PoC-1 Trilobito Testnet, Q4 Darwinia PoC-2 Crayfish Testnet, Q4 ETH relay module open source.
Q1 Darwinia PoC-3 Icefrog Testnet, Q2 Darwinia web wallet Ethereum relay, Q3 Darwinia Crab Canary network, Darwinia relay Mainnet pre-launch Genesis Generation, Q4 Mainnet stage 1 staking Ethereum Darwinia unidirectional bridge DVM (Darwinia Virtual Machine) Pangolin Testnet, Darwinia Ethereum Reverse Bridge, Darwinia Crab Canary network integrate DVM.
Q1 Evolution Land Crab continent transfer activated on Darwinia network Substrate-Substrate Bridge (Darwinia network – Darwinia Crab Canary network, Darwinia Substrate based blockchain), Q2 Darwinia integrate DVM Evolution Land: Darwinia continent Polkadot PLO ( Darwinia network), Q3-Q4 Darwinia NFT adopter more bridges other ecological application.
Darwinia network native token
RING is the native token of the Darwinia network. It is for transaction fees and much more in the Darwinia ecosystem.
The maximum supply of RING tokens is 10 billion which is a hard cap to be achieved over 40 years, with a total initial circulation supply of 2 billion. At the time of writing, the circulating supply amounted to 5% with 451,602,953.87 RING.
Is Ring An ERC 20 token?
The RING token can work on the network with Ethereum’s ERC-20 token as well as TRON’s TRC-20 token. On both networks, the RING token has a precision value of 18 on each smart contract address.
KTON Coin in Darwinia network
The KTON token in the Darwinia network is meant to encourage Staking participants in the long term. Staking participants can lock their tokens for 3-36 months and receive KTON tokens as a reward. During the staking process, participants do not allow to unlock RING tokens, unless they will be subject to a triple KTON token penalty.
KTON can also receive Staking power to participate in POS mining. How to participate in PoS mining, users can stake through KTON pledging. Users should not take KTON if it is to participate in PoS mining unless they want to stop mining. However, the process took 14 days until the KTON that had not been pawned arrived.
Darwinia Network wallet
The RING token resides on Ethereum’s ERC-20 token, so the Darwinia wallet can use any wallet compatible with Ethereum wallets. There are several options for Ethereum wallets, but for long-term security, a hard wallet is the right choice, but it costs money.
For hardware wallets, there are the best choices such as Trezor one, and Ledger Nano S. While wallets that support Android, Ios, and desktop there are options such as Coinomi, and Exodus. While Truswallet supports Android and Ios, and for web wallets, there is an option a Metamask wallet.
If you don’t want to spend money, you can choose a free wallet instead of a hardware wallet, but for long-term security, a free wallet which is a hot wallet has a higher risk of hacking.
How do I stake the Darwinia network?
Basically staking Darwinia is the same as staking other networks, it requires pledging RING tokens. The pledging token becomes a hash power to serve transactions in the Darwinia ecosystem. It’s just Darwinia’s policy if someone retrieves their token RING then it will stop staking. And have to wait 14 days before the token arrives in the process unpledged RING.
Advanced staking can choose the RING token locking period at 3-36 months in the staking process. In this advanced staking, participants will get the reward of a KTON token. And if the participant has unpledged RING before maturity, a penalty fee of triple KTON will be charged.
In the advanced staking process using Gringotts of Evolution Land, before the Mainnet is launched so that after Mainnet is launched there will already be some KTON tokens distributed.
Darwinia network application ecosystem
Darwinia network supports a wide range of applications including:
- Evolution land is a virtual blockchain simulation game that can interact cross-chain and has up to 26 continents, including Atlantis continent and Byzantine continent.
- Explorer Subscan, it’s a data visualization and explorer app for substrate-based blockchain.
- Defi Token DEX, this application can realize automatic cross-chain transactions between tokens.
- NFT Market, this app supports decentralized NFT auctions originating from different blockchain networks through cross-chain auctions.
Darwinia CRAB Network
In Polkadot the canary network is Kusuma, in Darwinia, the canary network is the Crab network. This Crab network is the first blockchain in the Kusuma ecosystem to support cross-chain, smart contracts, and NFT.
Its function is more or less the same as the Kusuma network. The Crab network for simulating various functions before upgrading to Darwinia.
Crab network became a place for the improvement and deployment of Darwinia applications, conducting various radical experiments. It is a cross-chain NFT blockchain offering a smart contract solution compatible with Ethereum virtual machines. Crab also supports Dapps like Defi and NFT to easily migrate to Polkadot.
The crab uses an innovative bridge from Darwinia, becoming the gateway to the Polkadot network for projects that are already deployed on public blockchains such as Ethereum and BSC. And more Crab network also offers very low transaction fees.
Crab network token
Crab network has the same parameters as Darwinia Mainnet, in the Crab environment it uses CRING and CKTON tokens.
How does Crab network staking work? in general, using the same mechanism as the Darwinia network. The initial supply of CRING tokens is 2000M with CKTON is zero. In its management, Darwinia reserves 40M RING tokens to back up CRING assets.
Where to buy Darwinia Network?
Reading a little overview about the Darwinia network might make you interested in buying the Darwinia native token. Several major exchanges have accepted RING traded in their market.
You can buy Darwinia’s tokens on Huobi Global, Hoo, BitForex, BiONE, and BitWell exchanges. But you also have other options such as Gate.io, Coinex, Cointiger, MXC, BKEX, and Poloniex.
Is Darwinia a good investment?
If you pay attention and analyze the price history of the Darwinia token RING. It is in the price range of $0.004 – $0.32, the all-time high occurs on March 13, 2021, at $0.300. Prices then fluctuate and wavy up and down. As of now floor at $0.035.
Even though there are 34,414 investors who see RING as one of the watchlists. But currently, it is still sitting on the rank #686 Coinmarketcap. Market capitalization is still not too high, still in the range of 16 million USD.
This means that the market cap volume reflects that the incoming investors are not too high. However, this may be because it is still in beta, so we still need to wait a few months so that the roadmap goes according to plan.
While referring to the factor ranking by Cointibuy, Darwinia only got a score of 2.6, which’s assessment-based Markets Volume Ratio, Market Cap, 24h Change, Social Following, Google Trends Twitter Citation, and user voting.
Darwinia Network price prediction
The RING token has been listed on several major exchanges. Several forecasting sites predicting the price of Darwinia in the future.
- Walletinvestor forecast. The price of Darwinia will rise to a price level of $0.115 which may in 2022. As for the prediction in the next five years in 2026, they predict the price of RING tokens to reach $0.449.
- GovCapital predicts the RING token price at $0.262793 by the next year 2022 and could reach $3,522 for the next five years in 2026.
- Digitalcoinprice forecasting RING in 2027 to reach $0.13287556 USD, 2022 up to $0.06267713 USD, 2023 up to $0.06190832 USD, 2024 up to $0.07419943 USD, 2025 up to $0.12221663 USD, 2026 up to $0.12132680 USD.
- Marketbeat through user voting got a rating of 2.5 with details of the RING token getting 46 votes which chose this asset to outperform, meaning it could outperform other assets and got 47 votes to underperform, which means this asset will be below other assets.
The Darwinia network is one of the many Polkadot ecosystem projects. They offer interoperability solutions for building applications on blockchain networks.
However, it seems that the value of this project has not greatly increased the trading volume of the RING token on the exchange.
The development team will still struggle to grow the network more broadly. This is a new project, so it is still possible to grow and develop in the future.
Note: this article is only information and not investment advice, all risks due to the use of this content are the responsibility of each investor.
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