Internet of Coins (www.coinstorm.net) announced the launch of their fundraiser on OpenLedger Decentralized Conglomerate on 21st March 2017. The crypto-currency wallet aims to maintain completely decentralized value flow (via different crypto currencies) across various blockchains. It aims to create a decentralized, self-sustaining economy by implementing inter-blockchain connectivity.
Internet of Coins promises to be a secure way to store and trade cryptocurrencies and smart contracts without the need of a centralized third party. While maintaining an unprecedented ease to use and manage multiple coins and assets, the interface needs no advanced technological knowledge to work with cryptocurrencies. While most of the wallets require some basic level of knowledge with cryptocurrencies and create a hindrance in growth, Internet of Coins seems to address the issue head-on. Emphasizing the focus on user friendliness, the existing wallets will need no changes or adaptations to connect their blockchains and value systems to this decentralized network.
Internet of Coins facilitates the exchange of currencies with anyone in the world (irrespective of location, banking mandates and differences in trade patterns) without a centralized third party. Compatible with almost every currency available, users can swap, send/receive, and make fluid trades of value from and to any blockchain. The Internet of Coins platform works with an official token called the HYBRID. The Hybrid provides a coherent store of value across multiple blockchains (essentially diversifying risk). It also serves as the vehicle to swap value between the different chains. The Hybrid is expected to be available for free trade by July 1st, 2017.
Joachim de Koning, Founder of Internet of Coins, stated:
“Our goal is to make every cryptocurrency autonomously part of a large swarm of decentralized economic activity. We want to do this by enabling every cryptocurrency user to create hybrid assets that interconnect value systems and blockchains. The source code to make this possible will be open source, non-commercial and freely available, to enable the impartial establishment of the Internet of Coins.”
While there have been many bullish opinions from the industry experts on the Hybrid, the consensus cites the brilliance of being able to trade across different blockchains without a third party to facilitate, to be the most promising aspect on the venture. The innovation is a must have tool for crypto traders.