What is WEMIX (WEMIX)? How to Buy WEMIX Token in India?

What is WEMIX (WEMIX)?

WEMIX 3.0 is a fork of the Ethereum blockchain, with the aim to create a balanced and robust ecosystem design to support decentralized applications (dApps), games, NFTs, decentralized finance (DeFi), and more. WEMIX was initially launched to revolutionize the GameFi industry with play-to-earn blockchain-based gaming models that enabled players to earn and trade in-game digital collectibles in the form of NFTs while enjoying games. So far, it has successfully achieved this goal with its popular games like CrypTornado, GalaxyTornado, and MIR4, which garnered millions of downloads within the first few months of launch. 

The WEMIX 3.0 ecosystem supports Ethereum Virtual Machine with a noble Stake-based Proof of Authority consensus to provide a high throughput of 4000 transactions per second. It offers various decentralized services, including the gaming platform WEMIX PLAY decentralized finance platform WEMIX.Fi, WEMIX wallet and many more. The WEMIX ecosystem is powered by the native coin WEMIX, which serves for payments, in-app purchases, staking, connecting applications, and DAO governance.

Who are the Founders of WEMIX?

The WEMIX platform was founded and developed by WEMADE Tree Pte. Ltd, a South Korean gaming service company, back in 2018. Its parent company WEMADE is publicly listed at Kosdaq- Korean Stock Exchange and has served the gaming industry for over 22 years.

How does WEMIX (WEMIX) work?

At the core of the WEMIX ecosystem is its EVM-compatible blockchain that supports Solidity-written smart contracts and validates and safely records transactions executed on the network. Its blockchain topology mainly consists of three logic subnetworks as follows:

• Block Producer Network(BPN): This consists of 40 highly qualified node council partners who contribute their hardware resources to reach the RAFT (Reliable And Fault Tolerant) consensus algorithm to produce blocks and provide real-time high-performance service.
• Bridge Node Network (BNN): This layer serves as a link between the BPN network and the ENN network, It propagates valid transactions from the ENN network to consensus nodes. It also facilitates the transmission of produced blocks from the BPN network back to the ENN network while ensuring the security and reliability of data.
• End Network Node (ENN): This is the outermost subnetwork of the WEMIX blockchain, It directly handles user endpoint services through a network of end nodes.

What makes WEMIX Unique Use Cases?

• WEMIX coin is backed by USDC and other stablecoins to mitigate price volatilities and offer a stable ecosystem for dApps.
• One can become an authority member of the WEMIX ecosystem by Staking WEMIX coins and participate in its on-chain governance.
• The WEMIX ecosystem currently encompasses 10 official WEMIX platforms and around 41 Games, DeFi, NFT, and DAO projects.

WEMIX (WEMIX) Price Analysis

• WEMIX price today is trading at $0.6611, with a 24-hour trading volume of $2.35 million. In the last 24 hours, The WEMIX price has dropped by 0.12%, and its market cap is $205.76 million as of July 19, 2023.
• It rallied by more than 600% at the beginning of the year but could not sustain and soon started to follow a downtrend.
• WEMIX price has maintained a relatively tight trading range of $0.57-$0.76 for over a month, and the RSI also indicates the possibility of its price remaining within the range for a while.

How to Buy WEMIX Coins in India?

To buy WEMIX Coin in India, just follow the below mentioned steps:

• Download the CoinDCX App
• Enter the details for registration.
• Complete KYC
• Once your profile is verified, fund your wallet and buy WEMIX Coins.