Chains & Coins
What You Need to Know 🧩
When it comes to blockchain technology and cryptocurrency, the terms "chains" and "coins" are frequently used. This guide will help you understand the key differences between multiple chains and multiple coins and how they impact your experience as a user.
What is a Chain?
Where Digital Records Never Sleep 🔗
A blockchain is like a digital ledger that records transactions across a network. Each blockchain can support various applications and assets. Some blockchains, such as Bitcoin, are focused on one specific cryptocurrency, while others, like Ethereum, allow for the creation of new tokens and applications.
For example,
Bitcoin (BTC) - a digital currency and store of value that operates on a decentralized network using Proof of Work (PoW) for consensus. It is known for its immutability and security, often referred to as "digital gold."
Ethereum (ETH) - supports smart contracts and decentralized applications (dApps), transitioning from Proof of Work (PoW) to Proof of Stake (PoS). It is known for its transparency and innovative capabilities.
Binance Smart Chain (BSC) - designed for fast and low-cost transactions, using Proof of Staked Authority (PoSA). It is compatible with Ethereum-based applications and facilitates efficient asset transfers between Binance Chain and BSC.
Key Features :
Decentralization: Operates without a central authority, with data distributed across a network of nodes.
Consensus Mechanisms: Uses methods like Proof of Work (PoW) or Proof of Stake (PoS) to agree on transaction validity and secure the network.
Immutability: Once data is recorded on the blockchain, it cannot be altered or deleted, ensuring a permanent and tamper-proof record.
Transparency: Transactions are visible and traceable by all participants, promoting openness and accountability.
Security: Employs cryptographic techniques to protect data and ensure that transactions are secure and verified.
What is a Coin?
More Than Just Currency in the Digital Age 🌍
In the cryptocurrency world, a "coin" is a digital asset that operates on its own blockchain.
Coins can be used in several ways. They serve as a medium of exchange, allowing you to buy goods and services like traditional currency . They also act as a store of value, similar to saving money in a bank. Additionally, coins help measure and compare the value of different assets or investments.
For example,
Bitcoin (BTC) and Ethereum (ETH) are considered coins because each has its own blockchain.
Bitcoin (BTC): The first and most well-known cryptocurrency, designed as a decentralized digital currency.
Ethereum (ETH): Known for its smart contract functionality and decentralized applications, running on its own blockchain.
Key Features :
Decentralization: Most coins operate on decentralized networks, meaning there is no central authority that controls them.
Consensus Mechanisms: Coins use various consensus mechanisms (like Proof of Work or Proof of Stake) to validate and record transactions on their blockchains.
Supply: Coins can have a fixed supply (ex., Bitcoin with a maximum of 21 million BTC) or a variable supply, depending on their design and protocol.
Crypto Variety
The Reason Behind All These Tokens and Networks 💡
“If you can build a token, if you can build a culture, then you can rebuild the world” — Mark Beylin, Founder of Bounties Network
There are so many tokens and blockchains, and the number keeps growing because each one is created to meet a specific need or problem. More tokens are being developed to offer solutions like privacy protection, storage capabilities, and support for decentralized apps. Some tokens are also created for marketing purposes or to connect with traditional financial systems.
Blockchain networks are continually evolving to enhance features like speed, security, and scalability. Each network brings something unique to the table, helping the crypto world adapt to different industries and needs. This variety drives innovation and ensures that customized solutions are accessible for a wide range of use cases throughout the blockchain ecosystem.
Supported Сhains & Сoins
A List of Chains and Coins Supported by Walletium 📜
Ethereum
ETH, BNB, BTC, USDT, USDC
$0.25-$15.0
Binance Smart Chain
ETH, BNB, BTC, BETH, USDT, USDC, BUSD
$0.05-$1.2
Bitcoin
BTC
$0.50-$7.5
TRON Network
USDT, TRX
$0.15-$3.0
The Open Network
TON
$0.1-$0.5
*Walletium supports the native token on each chain and any form of USD coin.
*Check the actual commissions in our app. All numbers are given as example.
Focused on Trusted Blockchain Solutions
Teaming Up With Strongest Networks 🌐
#1 Bitcoin and Ethereum are considered "classic" blockchains because of their pioneering roles and strong focus on security. Bitcoin, as the first cryptocurrency, set the foundation for decentralized digital currency, ensuring secure transactions with its proof-of-work system. Ethereum followed by introducing smart contracts and decentralized apps, while enhancing security and performance by switching to proof-of-stake. This combination of innovation and reliability is why Walletium works with both, providing users with secure and flexible options for managing their assets.
#2 Then Binance, TON, and Tron networks found their niche by offering something exceptional. They all focus on providing fast, low-cost transactions, making them ideal for users seeking efficiency. These networks are designed to handle a high volume of transactions without slowing down, offering smooth performance and strong security measures. Our wallet supports these blockchains, ensuring users have a seamless experience managing their crypto activities.
#3 Altcoins come in a wide variety, each created to meet different needs. Some focus on faster processing, others on energy efficiency, while a few prioritize decentralized finance or smart contract functionality. However, not all altcoins meet high security or reliability standards.
Walletium supports trusted blockchain networks to ensure a safe and reliable user experience, which results in excluding altcoins from our platform.
✅ The Bottom Line :
Walletium represents around 90% of all networks and tokens in the crypto market. We rely only on the most proven and reliable technologies in development, with blockchain naturally being the most important of them.
Ready to dive deeper? Let’s shift gears and explore how to store your crypto with custodial and non-custodial wallets ➡️
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