Easy Crypto To Mine

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As cryptocurrencies gain popularity, enthusiasts and newbies are always on the lookout for ways to make money from crypto.

One of the most preferred ways to make money in the crypto space is mining and today, I am happy to introduce to you the easiest to mine cryptocurrency – Webdollar!

WebDollar takes pride in being a cryptocurrency that is fully native to the World Wide Web, written in JavaScript, and built around the concepts of simplicity, lightness, and portability. The project works in a D.A.O model and takes pride in the fact that it launched without an ICO, or presales and has grown entirely organically like Bitcoin since its launch back in 2018. 

WebDollar started in 2018 with a proof of work mining mechanism before shifting to a hybrid mining system that combined Proof of Work with Proof of Stake. Eventually, the project decided to switch to 100% proof of stake early last year, making it more environmentally friendly and less power consuming.

WebDollar’s mission is to encourage the mainstream adoption of cryptocurrency by creating the simplest user experience:

  • No installations
  • No downloads
  • No account creation or complicated configurations.
  • The wallet is automatically created and stored locally on your device

Indeed, the team has done a wonderful job in delivering on its promise of a super easy to mine cryptocurrency. Webdollar can be mined using any browser on any internet-enabled device! That means that you can actually mine using your phone, Tesla, computer, tablet, smart watch or other devices! You simply visit their website and the mining automatically starts. However, with the shift to proof of stake, that means that you actually need to have a minimum of 100 WEBD to start staking. 

Do not forget to back up your wallet. Simply download and store it on a USB stick or other safe place.

How to get some free Webdollar coins

In order to give the project a test run, you will need at least 100 WEBD to test out its staking, send and receive features, etc. Worry not, some free Webdollar can be earned via the play to earn game created by one of the community members. Also, there are competitions, giveaways, and the daily chat rain bonuses distributed via the Webdollar tip bot in the Webdollar official group. There are also tips given to newbies each day to help them test the project functions. 

Where to Buy Webdollar

Webdollar is already listed and trading on Indoex, BankCex, p2pb2b and Vindax. Trading volume is highest on Indoex and the favourite pair is USDT/WEBD. The team plans to list on more exchanges over the next years.

Webdollar 2.0

Currently, the team is very busy behind the scenes working on migrating the Webdollar blockchain with the aim of making it better, improving the speed of transactions by at least 10 times and also making it more secure. The chain will be migrated on to the innovative Pandora Pay blockchain developed by Webdoallar founder Alexandru Budisteneau who is also in the process of building a privacy-based decentralized exchange by the same name.

The test net is already live and you can check it out. There are some free coins from the faucet which you can use to make a test transaction and check out the speed of transfers.

What is exciting about WEBD 2.0?

Investors should expect the following major advantages of adopting the new PandoraPay blockchain library into the WebDollar technology:

1. Delegated Staking

2. Cold Staking – by  delegating to a full node

3. HD wallet

4. Wallet Mnemonics + Better encrypted wallets

5. Multi assets where the fee must be paid in WEBD for every transaction

6. Ecosystem can be built around WebDollar

7. Removing the issue with users staking in multiple pools

8. Web Wallet fixed and improved by working reliably

9. Making the full node work at least 10x faster

10. Process > 100 transactions per block

11. RAM issue solved by using constant RAM usage

12. Better terminal GUI

13. New full node API and stable endpoints. API supports REST, RPC and WebSockets

14. Websocket subscriptions and notifications from full nodes

15. Mobile apps support via WebAssembly + WebView

16. Desktop version support via WebAssembly + Electron.js

17. payment ID reduces confirmations by a factor of 2 to future exchange integration

18. Text messages in transactions

19. Maintained Testnet + Devnet

20. Compatible and easy integration of the scalable Layer1 solution that will be proposed in the thesis.

21. The Telegram tip bot can be updated to allow delegated staking of users’ telegram accounts to increase security.

22. Reducing the old blockchain by pruning it.

Possible options to migrate to WEBD2.0

In order to successfully migrate to WEBD 2.0, two major options were suggested by the team. 

Option one is to run both the new and old chains parallel for some time. A burn address would be introduced for people to burn their old coins and automatically receive an equal number of coins each month. This will also mean that block rewards can only be offered on one of the two chains. This involves some technicalities like a hard fork and it might take some time to move everyone onto the new blockchain.

The second option is to suspend transactions on the old chain and airdrop to all WEBD addresses 1:1 on the new chain, something which requires a simple Hard fork.

According to the technical team, the easiest integration is option two as it requires only one hard fork while the first option might involve monthly hard forks until everyone is safely shifted onto the new chain.

Expected Migration Challenges

There are two main challenges of this proposed migration event. One, there will be no staking pools in the early days and this can go on for about a month as people set up and test pools.

The other challenge is that the exchanges might not find it uncomfortable migrating to the new blockchain. It will definitely require a major upgrade. Users will not be able to do any trading until the exchanges successfully make the upgrade. History shows that exchanges have had problems on-boarding this coin due to the fact that it is not built on one of the common chains like Ethereum or Binance’s Smart chain or Polygon. Sources indicate that Indoex Exchange is positive about the upgrade and has no problem deploying it.

Migration Schedule

The team has already released a test net and will soon be testing the delegated staking features and the creation of multi assets before they finally start the migration. The test net will have to undergo rigorous testing and a trial with at least two exchange partners before it is deployed.

With the new update, this coin is definitely primed for better things.

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6 replies on “Easy crypto to mine: WebDollar”

  • Stefan Lazar
    June 6, 2022 at 8:28 pm

    Real excelent articles !

  • William Lehner
    June 23, 2022 at 6:53 pm

    This project is a diamond in the rough!

    Very good article!

  • Stefan Lazar
    June 28, 2022 at 12:02 am

    One of the simplest Cryptocurrency in today’s market. It is for everyone!
    ESF: Easy, Simple, Feast for
    Anyone with any computer or smart phone….

  • Dragos
    July 10, 2022 at 6:44 am

    Nice article,i will give this coin a try .

  • Chukwuebuka Ndidigwe
    August 2, 2022 at 6:10 pm

    The next generation crypto Blockchains will copy the technology of WebDollar..