The weavechain is the decentralized network behind Internet of Coins. The weavechain connects the blockchains of cryptocurrencies without the need for a centralized authority. All transactions using Internet of Coins take place on the original blockchain of the cryptocurrency. Data on the weavechain is stored temporarily to communicate between the blockchains.. Read more about weavechain.
HYBRID tokens serve mainly two purposes.
First of all, they provide a coherent store of value across multiple blockchains, diversifying risk.
Secondly, they serve as the vehicle to swap value between the different chains a HYBRID token is registered on. This will allow you to exchange value with users without the need for a centralized external third party, such as Mt. Gox. Or Cryptsy. Read more about the HYBRID tokens.
Head over to https://internetofcoins.org/wallet on your Windows, Mac OS, Linux, iOS or Android device. If you have not created a wallet yet, you can do so by clicking “+Create a new account”.
Follow the instructions to generate your unique Account ID and a medium or high-security password. Select whether you would like to have a medium or high-security password generated. The medium-security password is shorter and easier to remember. We recommend the high-security password.
Please save these login credentials in a secure place. If you lose them, you cannot access your wallet ever again. We are not able to recover the keys for you!
Enter your credentials to sign into your wallet and access the Dashboard view. You can select your favorite assets to be displayed here. Your current balance of these crypto-assets is displayed here.
Head over to the Assets view to view current crypto-assets.
Right now, Internet of Coins provides a wallet to store over 300 different cryptocurrencies and tokens. In the future, you can trade tokens and coins from different blockchains, decentralized. No need to trust a third party for managing and trading your assets ever again.
If you cannot click the Sign in button, the Account ID and Password are incorrect. Please, make sure the Password is correct. In the Password, the numbers "0" and "1" are never used; instead the capital letters "O", "I" and "L" are used.
If you still cannot log in, try clearing the browser's cache and/or try using a different browser. Some users have experienced issues with Safari on iOS and macOS. For more information about browser support see "Which browsers does the wallet support?"
We do not charge fees for using the wallet. The fees for transactions are the transaction (or network) fees that the network imposes on transactions.
For example: when you want to transfer ETH from your Internet of Coins wallet, a transaction fee has to be paid to the Ethereum network. Your Internet of Coins wallet calculates this fee automatically.
This is also true for tokens. When you want to transfer ETH.XHY (or any other token distributed on the Ethereum network), an ETH fee is imposed to pay the Ethereum network for the transaction. This means you need to have ETH in your wallet to pay for an ETH.XHY transaction.
The same is true for the other blockchain systems supported in the wallet.
A recent update of the wallet resulted in some wallets not properly displaying HYBRID and other tokens. This is because the preferences have been reset.
Luckily, you can fix the display of tokens manually very easily, by following these steps:
Sometimes your amount can seem to disappear in the current wallet. The wallet will display N/A. This means the API for that blockchain is too busy to respond.
Some cryptocurrencies have this more than others. For example: Counterparty (XCP) and Omni (OMNI) often respond very slow.
Your tokens and coins are not gone. They are still there, and can be sent when the blockchain responds again.
Yes. Because of how the system is built, we can not have access to your financial data. All your keys and data are created client-side, and only stored where you write them down. We can not see what’s in your wallet and your password is never sent over the network.
Currently, we support over 380 different coins and tokens. We are blockchain agnostic and will continue to adapt new coins, tokens and blockchains. We believe in a diverse and plural crypto-ecosystem and want to support as many blockchains, coins and tokens as possible in our decentralized network.
Internet of Coins will facilitate inter-blockchain swaps. You will be able to swap for example Ethereum for tokens on the NXT chain and vice versa. This will improve liquidity and accessibility to blockchain initiatives across all projects.
Another difference is that we do not store your data and coins: only you do. We have developed Internet of Coins so that we are not physically or digitally able to access your wallet or your data. The device you use will function as a node in the network.
Next, all code is open sourced and donated to the public domain via the Commons Conservancy.
Internet of Coins is held accountable to how collected funds are being spent by the appointed NGO, the NLnet Foundation. This is to safeguard donations made to the project; to make sure the funds are spent in a responsible manner.
Yes! All supported crypto-assets can be stored in one Internet of Coins wallet.
Yes. Currently, the Internet of Coins wallet is accessible for iOS and Android devices in your browser.
We store most donations to the project in various cryptocurrencies. We believe in a positive future for the cryptocurrency sector.
The NLnet Foundation holds Internet of Coins accountable for how donated funds are spent. This is to safeguard the donations made to the project.
Funds are primarily used to compensate team members, software & hardware expenditures, legal and financial assistance, marketing and development bounties. Before crowdfunding started in 2017, developers and team members have been compensated by the Dutch SIDN Fund (1, 2).
You can publicly track the state of our reserves at the following donation addresses:
If you do not see the full table, try scrolling horizontally.
Once the decentralized exchange features have been implemented, it will be possible to serve as an allocation node in the network and earn fees from other users.
Not yet. This is a feature which will be implemented at a later stage.
The short answer is no. We don't have that option since we did not choose a 'mining' release model.
You will, however, be able to participate actively in the network and serve as an allocation node, which will earn you fees for swapping cryptocurrencies for others. See our timeline for an indication of when these features will become available.
Transactions will be as fast as the slowest underlying blockchain transaction time. So transactions between different Ethereum tokens on the Ethereum blockchain will take (according to Ethereum) at this time of writing roughly 20 seconds.
Facilitating inter-blockchain transactions is one of the features we are working on (i.e. Litecoin to Ethereum, or vice versa). They will take as long as the slowest blockchain of the two. For example Litecoin has a transaction time set of 2,5 minutes. In case of a transaction between Litecoin and Ethereum, a transaction will take a minimum of 2,5 minutes.
Yes. You can use our wallet on iOS and Android in your browser.
Did you find anything not working correctly? Please let us know!
A weavechain is the decentralized storage system for Internet of Coins containing a sequence of interwoven block streams that can store different types of data. It is a priority-based data retention system which stores cryptographically secured blocks on a decentralized network of computers.
Like a blockchain, a weavechain can function as a public ledger of transactions that have been executed on a decentralized network. The first working example of a blockchain is Bitcoin. However, its constantly growing chain size has been perceived by some as a problem that grows more urgent over time.
As ‘completed’ blocks are added to a weavechain block strand, data is retained based on the capacity of the machine the weavechain is running on. Certain strands that have lower priority may be dropped to conserve storage space. When needed, this data can be pulled from machines that have more storage space for all priority strands.
Blocks are added to the weavechain strands in parallel. Every strand records blocks in a linear, chronological order.
No. You can track the supported blockchains here.
Some popular ones are Bitcoin (BTC), Ethereum (ETH), Counterparty (XCP), NXT Platform (NXT), New Economy Movement (XEM), Waves Platform (WAVES) and BitShares (BTS).
We are blockchain agnostic: by that, we mean that we will make the platform accessible to all crypto-assets and blockchains. We believe in a diverse and plural crypto-ecosystem. We want to support all non-proprietary blockchains and tokens on our decentralized network.
If it would be up to us: yes!
Right now, we are working on standardized recipes to make it easy for blockchain projects and crypto-assets to be implemented in the wallet. We are blockchain agnostic, we do not discriminate between projects.
Internet of Coins will become a decentralized exchange.
Internet of Coins uses multiple data streams to connect cryptocurrency blockchains in a construction called a weavechain. Our consensus model for this chain is called Proof-of-Allocation, as users that allocate their own cryptocurrencies in the Internet of Coins are automatically supporters of the network.
This can be done next to mining or staking cryptocurrencies on their own respective blockchains. However, it provides an additional incentive to run their own node. Allocators are rewarded with decentralized exchange fees that users of Internet of Coins pay each other when exchanging one token for another.
Financial data is encrypted and protected twofold.
We use NaCL encryption libraries to encrypt and protect data using multiple tunnels of public and private key cryptography. We call these Upsilon channels.
On top of that, we distribute data streams over alternative decentralized networks, like TOR and I2P. The combination of these security systems enables data transport over the network completely sealed and encrypted.
To handle exchanges, Internet of Coins will make use of hybrid assets.
Hybridd, our network daemon, ‘glues’ crypto-assets and coins together into a hybrid asset. To form these hybrid assets, Hybridd passes around data sets and rule sets: the data sets (or tables) contain identification information about each individual blockchain-based asset; the rule sets govern their relationships. A FIFO (first-in-first-out) blockstream is used to share and verify data.
This results in assets that have the flexibility to pass their value from blockchain to blockchain, or from system to system. An owner may transfer an asset to another blockchain by cryptographically proposing a transaction to which any other peer on the Hybridd network may respond.
First, the beta wallet is released on March 31, 2018.
HYBRID tokens are distributed into Internet of Coins wallets.
To make sure the distribution goes as smoothly as possible, please make sure you still have:
Try to find our crowdfund confirmation e-mail, and keep a copy of that.
Two weeks after the wallet release, everyone who participated in the crowdfund receives an email with instructions how to access their Internet of Coins wallets and collect their HYBRID tokens.
HYBRID tokens will be evenly distributed over a range of supported blockchain systems. Provided that there are no major unforeseen technical difficulties, we will distribute tokens over the course of 7 weeks. During this period, we aim to distribute the HYBRID tokens in the wallets on a new supported chain every week.
The amount of HYBRID tokens you will receive as a crowdfund reward has been communicated in a confirmation email after your donation in the crowdfund. This amount will be communicated as well during the distribution.
Also note: we do not link to any other domain than https://internetofcoins.org or https://ioc.re!
Due to spam protection, a batch of invitations for claiming HYBRID tokens has been retracted. These links result in a "URL Not Found" error. We will contact everyone who received this error. If you encounter more problems during the confirmation process, you can restart the process by clicking the link in the invite email.
This is not a problem. Please, make sure you do not change your IP address during the validation process. This does not need to be the same as the one you had during the crowdfund, it just needs to be consistent during the 20-minute process. So, if you use a VPN service that keeps the IP consistent over the 20-minute process, it will not be a problem to confirm your account.
The invite link is sent out in different batches over multiple days.
If after April 20th you still have not received an invite email from us, please, contact us on firstname.lastname@example.org. We will process these queries after May 27th.
Please, send an email to email@example.com. We will process these queries after May 27th.
The HYBRID is a set of blockchain agnostic tokens, issued by Internet of Coins. They mainly serve two purposes.
Basically, HYBRID tokens will serve as a vehicle to 1) swap value from one blockchain to another without a centralized party and 2) diversify portfolio risk across different blockchains.
First of all they provide a coherent store of value across multiple blockchains, diversifying risk. Secondly, they will serve as the vehicle to swap value between the different chains they are registered on. This will allow you to exchange value with users without the need for a centralized external third party. The network can split and divide escrow transactions, swarming them over network users to confirm transactions.
HYBRID is a utility token for the Internet of Coins open platform. The platform is not publicly available yet, so there is no traffic from the platform yet to be tracked by CoinMarketCap.
XHY is the tracker for our HYBRID token on the Ethereum blockchain.
The HYBRID tokens are released on a range of blockchain systems. For example: Bitcoin (BTC), Ethereum (ETH), Counterparty (XCP), NXT Platform (NXT), New Economy Movement (XEM), Waves Platform (WAVES) and BitShares (BTS).
For every blockchain, a compatible HYBRID token is released.
For example: The HYBRID token on Ethereum can be found under the tracker XHY/ETH; the HYBRID token on Waves can be found under HYBRID/WAVES.
If you do not see the full table, try scrolling horizontally.
|Ethereum||XHY/ETH||Contract address*: 0x2F4BAeF93489b09B5e4b923795361A65a26F55E5|
|Bitcoin/Omni||HYBRID/OMNI||Property ID: 142|
|NXT||HYBRID/NXT||Asset-ID: 17179021398403681515 |
*Our old contract has been deprecated. It was listed at 0xb0ef360dcf2141be4fad80209b3fee31d5ae5df6.
Eventually, the HYBRID assets can be used on the decentralized exchange of Internet of Coins. (HYBRID is a utility token.)
During the 2017 crowdfunding campaign, users could receive HYBRID tokens as a reward for their donations, to use in the upcoming Internet of Coins decentralized exchange. We do not provide these anymore, but you can swap them with others.
We have thousands of supporters for the Internet of Coins project. If you haven’t heard from us after a month after the token distribution, please get in contact with our support team and make sure you still have:
The total supply is 7,000,000 HYBRID. This will be split into two parts: distribution to the donors and a reserve for the crowdfund rewards. The residual will be burned publicly.
The distributed amount forms the circulating supply within the Internet of Coins decentralized exchange. The total circulating supply for HYBRID is just over 900,000 HYBRID. As of writing, this amount is distributed over 7 different blockchains.
10% of the circulating supply will be kept as a reserve for the crowdfund rewards.
The reserve for crowdfund rewards will be used to reward 2017 crowdfund donors, provided that the project can proceed as planned. Crowdfund token holders receive crowdfunding rewards in the three years following the fundraiser.
Coinstorm.net used to be the website for all main communication regarding our 2017 crowdfund campaign. For the sake of consistency, we have decided to transfer our website, blog and wallet to the internetofcoins.org domain.
Between March 21st and June 21st, 2017.