What kind of network is MossCoin on?
First Part of the Guide on MossCoin Swap [Network]
Before heading to the guide about the new swap addition for MossCoin, here’s the first guide to help you understand.
Let’s explore the networks — Luniverse and Ethereum network — and understand their differences and where MossCoin fits into the blockchain. 🏃♂️🏃♀️
📌 What is the Luniverse Network?
Luniverse is an enterprise blockchain cloud service (BaaS) platform developed and operated by the blockchain development company Lambda256.
The main chain of Luniverse is based on the Lambda consensus algorithm and uses a Proof of Authority (PoA) consensus algorithm.
Validators provide a certain stake as collateral to increase the reliability of the PoA consensus process. If validators engage in harmful actions or governance violations on the Luniverse platform, their collateral stake can be forfeited.
📌 What is the Ethereum Network?
Ethereum is a decentralized distributed computing platform that is based on blockchain technology and is used to execute smart contracts and build decentralized applications (DApps).
The virtual currency of Ethereum, Ether (ETH), is used for various purposes including executing smart contracts and transaction fees. Introduced by Vitalik Buterin and developers in 2015, Ethereum aims to provide more decentralization and flexibility using blockchain technology and overcome the limitations of traditional blockchains.
In simple terms, Ethereum offers features like smart contracts, which are automated contract execution capabilities. Contracts written as code can automatically execute transactions when conditions are met. Additionally, the virtual currency Ether (ETH) is used for fees related to block creation and executing smart contracts.
Ⓜ ❓ Where does MossCoin belong? What are the issues?
“MossCoin is the cryptocurrency of the LMT token operated on the Luniverse network.”
MossCoin is currently listed on a single exchange and faces difficulties in trading volume due to limitations in trading support on the Luniverse network.
Attempts were made to swap from the Ethereum network to the Luniverse network through a strategic partnership, but this resulted in delisting from many exchanges due to lack of support.
As a result, MossCoin faces challenges in activating trading and expanding to overseas exchanges.
MossCoin was listed on various exchanges in the past, including Gopax, Gopax IN, Bittrex US, Bittrex International, Upbit, Upbit SG, BCEX, and Kyber. In the first half of 2020, MossCoin attempted a swap from the Ethereum network to the Luniverse network through a strategic partnership with Luniverse. However, most exchanges, except for Upbit, did not support the Luniverse network, leading to voluntary delisting.
Reference: Past exchange listings of MossCoin
Ⓜ❗❗ What are the solutions for network issues in the future?
MossCoin is actively working to address these issues.
In the second half of 2021, MossCoin successfully implemented cross-chain transactions with the Klaytn network, bringing Klaytn KAIKAS wallet users to MossCoin services. In 2023, MossCoin aims to expand to the Ethereum network and list on new exchanges to broaden its user base and increase revenue. The goal is to enhance MossCoin services and launch various Web3 services.
Understanding the Network for the Swap, Part 1: Do you understand it well?❓❗😮
MossCoin is putting in a lot of effort to understand and address the network issues.
In the upcoming Part 2, Wrapped MOC, we will continue with the content related to the swap. 🥰🤘”
