WABI
ShitCoin
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WABI

Wabi 5-10 years
Website https://wabi.io
Browser
OTH RELPs
Github
White Paper
Avg Price
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1D

$ 0.00 USD

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Market Cap

$ 0.00 0.00 USD

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24h trading volume

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7d Vol

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Circulating supply

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Related information

Issue Time

2017-12-13

Platform pertained to

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Current price

0.00

Market Cap

$0.00USD

Volume of Transaction

24h

$0.00USD

Circulating supply

0.00WABI

Volume of Transaction

7d

$0.00USD

Change

24h

0.00%

Number of Markets

Github Messages

More

Warehouse

TaeL Kim

Github's IP Address

[Copy]

Codebase Size

31

Last Updated Time

2020-12-28 04:06:39

Language Involved

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Agreement

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Token conversion

/

Current Rate0

Available

0.00USD

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WikiBit Risk Alerts

1
Previous Detection 2024-03-28

WikiBit has marked the token as air coin project for we have received overwhelming complaints that this token is a Ponzi Scheme. Please be aware of the risk!

Historical Price

Introduction

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Aspect Information
Short Name WABI
Full Name Wabi
Founded Year 2017
Main Founders Alex Busarov and Yaz Belinskiy
Support Exchanges Binance, Kucoin, HitBTC, etc
Storage Wallet Any Wallet supporting ERC-20 Tokens

Overview of WABI

WABI, also known as Wabi, is a type of cryptocurrency that was founded in 2017 by Alex Busarov and Yaz Belinskiy. This cryptocurrency operates on the Ethereum platform and is thus an ERC-20 token. It is compatible with any wallet that supports ERC-20 tokens for storage. The token was designed to incentivize and reward consumers for purchasing and authenticate products in the consumer goods market. Major cryptocurrency exchanges including Binance, Kucoin, and HitBTC, among others, support the trading of Wabis.

Overview of WABI

Pros and Cons

Pros Cons
Operates on the Ethereum platform Dependent on Ethereum's network performance
Supported by major cryptocurrency exchanges Limited to exchanges that support ERC-20 tokens
Incentivizes and rewards consumer activities Adoption depends on consumer awareness and understanding
Can be stored in any ERC-20 compatible digital wallet Dependent on security of individual digital wallets

Pros:

1. Ethereum Platform: WABI operates on the Ethereum platform, meaning it is an ERC-20 token. This allows it to leverage Ethereum's robust smart contract features and wide user base.

2. Wide Exchange Support: Major cryptocurrency exchanges such as Binance, Kucoin and HitBTC support WABI. This gives the token a larger market and makes it accessible to a wide range of potential investors.

3. Consumer Incentives: The Wabi incentivizes and rewards consumers for purchasing and authenticating products. This mechanism aims to encourage use of the token in the consumer goods market.

4. Wallet Flexibility: Wabis can be stored in any digital wallet that supports ERC-20 tokens, offering users a high degree of flexibility in terms of storage options.

Cons:

1. Dependency on Ethereum: Being an ERC-20 token, WABI's performance and functionality are tied to that of the Ethereum network. This means that any issues that affect Ethereum, such as network congestion or high transaction fees, can directly impede the functionality of WABI.

2. Limited Exchange Availability: While it is listed on several major exchanges, WABI is still limited to those that support ERC-20 tokens. This means that it may not be accessible via some smaller or specialized exchanges.

3. Adoption Challenges: The adoption of WABI as a method of incentivizing consumer activities relies heavily on consumer awareness and understanding of the token. This poses a challenge as not all consumers might be familiar with cryptocurrencies or comfortable using them.

4. Wallet Security: Although WABI can be stored in any ERC-20 compatible digital wallet, the safety of Wabis remains dependent on the security measures in place for individual digital wallets. This can pose a risk if a user's digital wallet is compromised.

What Makes WABI Unique?

Wabi represents a somewhat unique application of blockchain technology. Its key distinction lies in its integration with the consumer goods industry to foster anti-counterfeit measures. By leveraging the Blockchain, WABI aims to verify the authenticity of products and provide rewards to customers for performing these checks. The tokens can then be used for purchasing products or services within the ecosystem.

This consumer-focused incentive mechanism sets it apart from many cryptocurrencies that are primarily oriented around finance or data storage use cases. However, its practical success depends largely on consumer adoption. Moreover, as with any blockchain-based model, its efficiency, scalability, and security are important factors that require ongoing development and refinement.

In terms of technical structure, WABI, being an ERC-20 token, doesn't substantially differ from other tokens on the Ethereum platform. It shares the same benefits such as smart contract capabilities and potential drawbacks like network congestion issues that can affect transaction speed and costs.

Circulation of WABI

Like all cryptocurrencies, WABI is subject to price fluctuation. This is due to a number of factors, including:

  • Overall market sentiment: The cryptocurrency market is known for its volatility, and WABI is no exception. When the overall market is bullish, WABI typically performs well. However, when the market is bearish, WABI can experience significant price declines.

  • News and developments: Positive news and developments related to WABI, such as new partnerships or product launches, can lead to price increases. Conversely, negative news or developments can lead to price declines.

  • Supply and demand: The price of WABI is also determined by supply and demand. If demand for WABI increases, the price will tend to rise. Conversely, if demand for WABI decreases, the price will tend to fall.

WABI does not have a mining cap. This means that there is no limit to the number of WABI tokens that can be created. However, the creation of new WABI tokens is controlled by a process called inflation. Inflation is a process by which the value of a currency decreases over time.

Circulation of WABI

How Does WABI Work?

WABI works by leveraging blockchain technology to provide a solution for tracking consumer products and preventing counterfeit. The central idea is to digitize products by assigning each item a unique WaBi ID which is then recorded onto the blockchain. This WaBi ID gives each product a unique and tamper-proof digital identity.

Here's how it generally operates:

1. Brands apply a WaBi secured label to each product during manufacturing, with a unique WaBi ID.

2. The information about each product, including its unique ID and data such as manufacture details, shipping, and distribution are recorded on the blockchain.

3. Upon purchase, consumers can verify the authenticity of the product by scanning the WaBi label with a smartphone. The application will access the blockchain to confirm the product's particulars and validate its authenticity.

4. When consumers validate products, they earn Wabis as a reward.

5. These Wabis can be used for purchasing discounts, promotional offers, or for buying actual products both online and offline.

In essence, WABI's operating principle is based on incentivizing consumers to verify product authenticity which provides an added verification layer against counterfeit goods. This use of blockchain for product verification and consumer rewards is what differentiates WABI from other cryptocurrencies.

Exchanges to Buy WABI

WABI is supported by a number of cryptocurrency exchanges for trading. Here are ten of them:

1. Binance: This exchange supports WABI and allows trading with pairs such as WABI/BTC and WABI/ETH.

2. KuCoin: KuCoin is another platform where you can trade WABI. It supports pairs such as WABI/BTC and WABI/ETH.

3. HitBTC: On HitBTC exchange, you can trade WABI with pairs such as WABI/BTC and WABI/USDT.

4. Bithumb Global: Bithumb Global supports WABI with trading pairs like WABI/BTC and WABI/USDT.

5. Gate.io: Gate.io also supports WABI and has pairs such as WABI/USDT.

6. BitMart: BitMart is another exchange where you can trade WABI. Pairs include WABI/BTC.

7. IDEX: The decentralized exchange IDEX supports WABI with pairs like WABI/ETH.

8. Liquid: On Liquid, you can trade WABI with pairs such as WABI/BTC and WABI/QASH.

9. ProBit Exchange: This exchange supports WABI and allows trading pairs such as WABI/USDT.

10. Bilaxy: Bilaxy supports the trading of WABI with pairs like WABI/ETH.

Please note: The available pairs can change over time based on trading volume and other factors. It is advised to check the current trading pairs on the specific exchange prior to making any trades.

How to Store WABI?

WABI, being an ERC-20 token, can be stored on any wallets that support these types of tokens. These wallets can be broadly categorized into different types:

1. Hardware Wallets: These are physical devices that are extremely secure as they store your WABI offline. Examples are Ledger and Trezor. These wallets are advisable if you hold a large amount of Wabis.

2. Software Wallets: These are applications that can be installed on your computer or smartphone. They are convenient for frequent use and small to medium amounts. Examples of software wallets that support ERC-20 tokens are MyEtherWallet, MetaMask, and Trust Wallet.

3. Web Wallets: ERC-20 tokens can be stored on web wallets, which are available online, through a browser. MyEtherWallet is a popular choice for many ERC-20 tokens, including WABI.

4. Mobile Wallets: These are smartphone apps designed for convenience and portability. Examples include Trust Wallet and Coinomi.

Remember, the security of your Wabis will largely depend on the safety measures you take while using these wallets. Always protect your private keys, and ensure to use reliable and trusted wallet services.

Should You Buy WABI?

As an expert in cryptocurrency, I would advise that purchasing WABI or any cryptocurrency should entail careful thought, regardless of one's background. Here are two profiles of investors who might find WABI appealing:

1. Technologically Savvy Investors: Those familiar with blockchain, cryptocurrencies, ERC-20 tokens, and decentralized finance (DeFi) could be well-positioned to understand the complexities and potential of WABI. Understanding the nuances of Ethereum-based tokens can help them exploit trends and developments more effectively.

2. Strategic Investors: Since WABI has a specialized use case tied to consumer product verification, investors who understand this industry may see value. They could range from retailers to distribution channel members who deal with consumer goods and have an interest in solving the counterfeit problem.

But regardless of the investor profile, here is some general advice:

1. Do Your Research: As with any investment, research is critical. Understand what WABI is, its use case, its founding team, performance history, and any recent news or updates. Consider its unique selling points before making a decision.

2. Understand Risk: Cryptocurrency is a highly volatile and risky asset class. Ensure that such types of investments align with your overall investment strategy and risk tolerance.

3. Diversify: Don't put all your eggs in one basket. Diversification can help manage risk and potentially enhance returns over the long term.

4. Never Invest More Than You Can Lose: Only invest money that you can afford to lose without affecting your living condition. The dynamics of the cryptocurrency market can be extremely unpredictable.

5. Seek Professional Advice: If you're unsure, consult with a financial advisor who can help navigate and understand these complexities.

Remember, the decision to buy should be based on your personal assessment, risk tolerance, financial circumstances, and investment objectives.

Conclusion

WABI, or Wabi, operates within a unique niche of the cryptocurrency market, targeting the issue of product authentication in the consumer goods sector. Its design to reward consumers upon the verification of product authenticity presents an innovation in the blockchain application. WABI, as an ERC-20 token on the Ethereum platform, benefits from Ethereum's wide user base and smart contract functionalities. However, it shares common drawbacks related to the Ethereum network's performance.

As for development prospects, much will depend on broader acceptance and understanding amongst consumers of the token's functionality and advantages. Its integration into everyday consumer activity presents both a major opportunity and a significant challenge. WABI's future will likely hinge on its ability to effectively incentivize and simplify the product verification process, delivering genuine value and convenience to end-users while also securing partnerships with brands and retail outlets.

In terms of profit potential or appreciation, it is important to note that investing in cryptocurrency is inherently risky and volatile. While WABI's unique proposition may suggest potential for growth, many factors may affect its value, including market trends, investor sentiment, regulatory news, and broader economic conditions. Like all cryptocurrencies, WABI's future value will ultimately be determined by supply and demand dynamics in the crypto market. Investors should always carry out their due diligence and consider seeking financial advice before engaging in cryptocurrency investments.

Conclusion

FAQs

Q: Are there specific wallets recommended for storing Wabis?

A: As an ERC-20 token, WABI can be stored on any wallet supporting this type of tokens like Ledger, MetaMask, MyEtherWallet, or Trust Wallet.

Q: Could you explain the innovative feature of WABI compared to other cryptocurrencies?

A: WABI's distinctiveness lies in its integration with the consumer goods industry where it provides incentives for consumers to verify product authenticity, unlike many other cryptocurrencies focused mainly on financial transactions or data storage.

Q: In brief, how does WABI function to prevent counterfeiting in the consumer goods sector?

A: WABI functions by assigning each product a unique WaBi ID stored on the blockchain, which can be scanned by consumers to validate product authenticity, earning them Wabis as rewards.

Q: As of now, what is the total circulating supply of Wabis?

A: The total circulating supply of WABI can fluctuate over time due to token burning, distribution, and usage changes, and can be viewed on cryptocurrency data platforms like CoinMarketCap or CoinGecko.

Q: What are WABI's advantages and disadvantages?

A: Advantages of WABI include operating on the Ethereum platform, broad exchange support, consumer incentives, and storage flexibility, while disadvantages include dependency on Ethereum network performance, limited exchange availability, challenges in consumer adoption, and wallet security concerns.

Q: Could you tell us who would be the ideal profile of an investor for WABI?

A: Investors versed in blockchain, cryptocurrencies, and those who understand the consumer goods industry, particularly the need for solving the counterfeit problem, could find WABI an interesting investment opportunity.

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Dazzling Dust
WABI, short for Tael, is a cryptocurrency and blockchain project that focuses on product authenticity and consumer trust in the retail industry. It aims to combat counterfeiting by using RFID technology to track products from manufacturing to the point of sale. WABI tokens are used as a means of exchange within the ecosystem, rewarding consumers for purchasing genuine products and providing them with a transparent supply chain.
2023-11-27 07:46
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