Witnet Price (WIT)

Witnet (WIT) Price Now

Witnet price today is $0.003586 with a 24-hour trading volume of $40,665. WIT price is up 1.9% in the last 24 hours. It has a max supply of 2.5Bil.
In order to search for real-time and historical information about Witnet (WIT) blockchain, including data related to blocks, transactions, addresses, and more, you may use Witnet (WIT) block explorers. Here are some of the most popular and useful Witnet (WIT) blockchain explorers out there:

• witnet.network

What Is Witnet(WIT)?

Witnet is a decentralized oracle network (DON) that connects smart contracts to the outer world. Generally speaking, it allows any piece of software to retrieve the contents published at any web address at a certain point in time, with complete and verifiable proof of its integrity and without blindly trusting any third party.

It is a next-generation decentralized oracle that leverages state-of-the-art cryptographic and crypto-economic techniques to provide smart contracts with secure data inputs. In exchange for WIT tokens, Witnet's network of permissionless oracle nodes retrieves, attest, and delivers information to smart contracts in a tamper-resistant and decentralized way.

What Are the Features of Witnet(WIT)?

• Witnet-rust full archival node
• Sheikah wallet for desktop 
• Ethereum Truffle Box
• witnet.network block explorer
• Witnet Data Feeds Explorer

What Is Witnet(WIT) Token?

The Witnet decentralized oracle runs on its own blockchain and relies on the token for incentivization of independently run nodes that resolve the data requests and agree on the results.

The WIT token is a utility token, native to the Witnet blockchain, encouraging fair and trustworthy behavior throughout the network. These tokens perform a number of important functions within the ecosystem:

• they incentivize node validators ("witnesses") through a reward system when resolving data requests and mining blocks;
• they are used as a payment system for data requests; 
• they act as a form of collateral, ensuring node operators are not subject to bribery in high-value data requests.

Witnet(WIT) Distribution Model

Total supply: No more than 2,500,000,000 WITs will ever exist.

Mining and Block Rewards of Witnet(WIT)

70% (1,750m) of the total supply will be mined by block validators ("witnesses") through block rewards.

Witnet block time is 45 seconds; initially, this reward is set to 250 WIT per block, and is set to decrease geometrically, with a 50% reduction every 3,500,000 blocks (around every 5 years).

Until the first halvening in 2025, there will be 1920 blocks mined every day, with a daily token emission of 480k, a monthly emission of 14.6M, and a yearly emission of ~175M.

Genesis Block Mine

The remaining 30% of the total WIT supply (750M WIT) was pre-mined in the Mainnet genesis block (the first block in the chain).

• 250M (10%) went to founders and early contributors — all these tokens are locked. All these tokens are initially locked and subject to a vesting period: 6m cliff in April 2021, followed by 18m vesting.
• 250M (10%) have been allocated to the Witnet Foundation to support ongoing efforts.

• 250M (10%) were preassigned to participants in the Republic.co token pre-sale and SAFT participants.

Where Can I buy Witnet(WIT)?

Investing in Witnet(WIT) can seem complicated, but it is much easier when you buy Witnet(WIT) through a cryptocurrency exchange. Signing up for a cryptocurrency exchange will allow you to buy, sell, and hold Witnet(WIT) — both for fiat money and other cryptocurrencies. Some of the most popular Witnet(WIT) cryptocurrency exchanges are:

• gate.io
• LBank

Witnet (WIT) Community

• Twitter: https://twitter.com/witnet_io
• Reddit: https://reddit.com/r/witnet
• Medium: https://medium.com/witnet
• Telegram: https://t.me/witnetio