Currencies28783
Market Cap$ 2.55T-0.02%
24h Spot Volume$ 24.11B-6.43%
BTC Dominance51.96%+0.30%
ETH Gas3 Gwei
Cryptorank
Open report modalReport issue
Witnet

Witnet WIT Price $ 0.00714

Rank: 1187

206 Watchlists

Blockchain Infrastructure

WIT Price

0.00714
8.59%
(-$ 0.00067)
Price Range
LowHigh
$ 0.00707$ 0.00788

General Info

Explorers:

Explorers

Tags (Sub-Categories):

#Coin

Funds and Backers

Wallets

No wallets found yet

Description

Witnet is a decentralized oracle network (DON) that connects smart contracts to the outer world

Witnet (WIT) Chart

Witnet price Index provides the latest WIT price in US Dollars , BTC and ETH using an average from the world's leading crypto exchanges.

WIT to USD Converter

Witnet (WIT)WIT

ICO

24 Mar — 24 Mar 2018

Raised

$ 1.07M

Price:

$ 0.00428

ROI:

1.67x  +66.7%

Platform:

N/A

ATH ROI:

9.95x  +894.6%

WIT Price Statistics

leaderboard

Market Cap

$ 9.51M

Fully diluted value

FDV

$ 17.84M

ATH Market Cap

$ 34.91M

24 Trade Vol.

$ 104.17K


Vol. (24h) / MCap

0.011

Max Supply

WIT 2,500,000,000

Total Supply

WIT 2,500,000,000

Circulating Supply

WIT 1.33B

(53.3% of Max Supply)

Listing Date

3 Dec 2021

ICO Price

$ 0.00428

24 Mar 2018

ICO ROI

66.7%

1.67x

All Time High

$ 0.0426

3 Dec 2021


All Time Low

$ 0.00209

12 Mar 2023


From ATH

83.2%

From ATL

241.9%

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.

Witnet runs on a blockchain with a native protocol token (called Wit), which miners - called witnesses - earn by retrieving, attesting, and delivering web content for clients. On the other hand, clients spend Wit to pay witnesses for their Retrieve-Attest-Deliver (RAD) work. Witnesses also compete to mine blocks with considerable rewards, but Witnet mining power is proportional to their previous performance in terms of honesty and trustworthiness—this is, their reputation as witnesses. This creates a powerful incentive for witnesses to do their work honestly, protect their reputation, and not deceive the network.

Witnet protocol builds upon a series of novel components:

  • Decentralized Oracle Network (DON): We provide an abstraction for a network of independent providers to offer Retrieve-Attest-Deliver services. Later, we present the Witnet protocol as an incentivized, auditable and verifiable DON construction
  • Reputation-Based Mining Protocol: We show how to construct a useful Proof-of-Work that can be used in consensus protocols. Miners do not need to spend wasteful computation to mine blocks, but instead must fulfill task assignments
  • Reputation-Based Task Assignment Protocol: We put forward an algorithm that is analogous to the Reputation-Based Mining Protocol and lets the network assign tasks to miners in a decentralized, fair, uniform, unpredictable yet deterministic way
  • Bridge nodes: We describe a special kind of network participant that focuses on the ’Deliver’ part of the Retrieve-Attest-Deliver (RAD) tasks by allowing Witnet to interact with other blockchains.

Witnet Price Today

Witnet's current price is $ 0.00714, it has dropped -8.59% over the past 24 hours.

Witnet's All Time High (ATH) of $ 0.0426 was reached on 3 Dec 2021, and is currently -83.2% down.

The current circulating supply of Witnet is 1.33 Billion coins, and the maximum supply of Witnet is 2.50 Billions.

Witnet’s 24 hour trading volume is $ 104.17 Thousands.

Witnet (WIT) operates on its own blockchain.

Witnet's current share of the entire cryptocurrency market is 0.00%, with a market capitalization of $ 9.51 Million.

You can find more details about Witnet on its official website and on the block explorer.

Trending Coins and Tokens Flame icon