Darwinia Network (RING) Price, Charts, and News | Coinbase: darwinia network

What Is Darwinia Network (RING)?

Darwinia Network is a Web3 cross-chain bridge hub built on Substrate (a blockchain framework for future ) that enables the easy build of future-proof blockchains. The initial thought while developing Darwinia was to provide a low-level cross-chain solution for Evolution Land (the first Defi+NFT cross-chain game) though later it evolved as a decentralized cross-chain infrastructure. The Darwinia Network can be called the first game chain designed to connect to Polkadot. Thus, the development of the Darwinia network depends on both Polkadot and Substrate frameworks. 

Darwinia Network combines cutting-edge cryptography technology, verification games, and super-light client technologies to decentralize the cross-chain transfer process. The aim is to remove third-party participation altogether.

Darwinia Network application areas include DeFi, cross-chain NFT trading, games, etc. Further, Darwinia offers a safe bridging solution that connects to Polkadot, Ethereum, TRON, and other heterogeneous chains by the medium of cross-chain transfer of assets and remote chain calls. Darwinia Bridge Chain is also a bridging hub of Dapps and public chains.

Darwinia Network can operate itself as a stand-alone cross-chain network, and the Darwinia chain is responsible for consensus security and cross-chain interoperability. Darwinia has the choice to access Polkadot as a Parachain of Polkadot, after which Polkadot will take over and be responsible for the security of the Darwinia chain. Polkadot enables all the Parachain in Darwinia Network to connect to a broader external blockchain network.

The native token of Darwinia Network is RING which is used as gas for transactions. Gas includes contract execution fees, network bandwidth charges, storage fees, transaction fees, and more. As per the gene paper, the benefits of Darwinia Network includes transaction fees and block reward. The transaction fees include cross-chain staking fees, App-chain access fees, and others. Darwinia Network distributes newly generated RING on the blockchain as an incentive to the participants of staking. The staking process can also be understood through POS mining, wherein miners obtain staking energy by pledging tokens. POS mining refers to offering computing capability of traditional web and network service to serve the users of Darwinia Network.

History of Darwinia (RING):

Darwinia Network project started in late 2018. Alex Chein and Denny Wang are the co-founders of Darwinia Network. Alex and Denny have also worked on various blockchain projects in the past.