Swapping between Wish Stone, Wish Coin, and other Cryptocurrencies
Those of you who have been following our channel are now capable of answering the question, “What is the difference between Wish Coin and Wish Stone?” We’re proud of you for this accomplishment, but we’re not done just yet with our cryptocurrencies! At last, we want to answer some final questions about the token structure that people have been asking us. How do you trade Wish Stone for other cryptocurrencies like Bitcoin and Ethereum? Let’s find out right now.
The short answer is, you can’t exchange Wish Stone for Bitcoin. Not directly. What you can do, however, is swap Wish Stone for Wish Coin. Your new Wish Coin will then be transferred to digital asset exchanges, where you will then be able to trade your Wish Coin for another cryptocurrency that is supported on the exchange of your choice. We’ve organized a little table for you portraying the options for exchanging Wish Stone, Wish Coin, and other cryptocurrencies.
Wish Stone is connected to the outside world through the bridge that is Wish Coin. As we mentioned earlier, Wish Stone tokens are swapped for Wish Coin. You may be wondering, “How and where do you exchange Wish Stone for Wish Coin?” There either has to be a public supply of Wish Coin or an entity that owns Wish Coin and is willing to trade their Wish Coin for Wish Stones. That’s where Node Ws come into the scene.
What is a Node W?
A Node W is another word for a node on the Wish Chain blockchain. The special thing about Node Ws is that they handle Wish Coin to Wish Stone and Wish Stone to Wish Coin exchanges. You can think of a Node W as a currency exchange center. Each node can set different buy and sell exchange rates for Wish Coin, which means if done right, they are able to turn a profit. Apart from a small portion of the profit that is used for maintaining the ecosystem, the rest of it is given to the Node W that provided the service.
Users are free to choose whatever Node W with which they wish to conduct business, and because free market principles are in place, Node Ws that provide the best exchange services will contribute most to the ecosystem. As more Node Ws participate, there is a high likeliness that the exchange rates will level out to reach equilibrium. If Node Ws cannot generate profit through the price differential, what motivates them to function as Node Ws?
A Reward System for Node Ws
To incentivize nodes, Wish Chain has implemented a scoring and reward system. There are four different conditions that, if fulfilled, result in a higher score for Node Ws.
1) Wish Coin Deposit Time Period
2) Wish Coin Deposit Amount
3) Contribution to Wish Coin-Wish Stone Exchanges
4) Amount of Wish Stone Received through Digital Experiences (within a certain timeframe)
Based on their score sheet, Node Ws are ranked from Level 9 to 1, 9 being the highest rank and 1 being the lowest, and a certain reward percentage is allocated to each level. The higher the level, the more rewards you receive.
In our post today, we learned to convert Wish Stone to Wish Coin and other cryptocurrencies, and in the process, we were able to explain the mechanism behind the exchange system. Are you intrigued by our Node W reward structure? When our mainnet is live, you will be able to join our network as a Node W!
For more information, please visit our website at https://wishchain.io/
