Since the inception of the crypto market, mining has been the driving force for almost everything that lies in it. Mining incentivizes users to mine a particular cryptocurrency, say Bitcoin, or, in other words, validate transactions that happen on the blockchain 24/7.

In this article, we'll break down Wrapped Quil (WQUIL), the native coin of the Quilibrium network, and see its tokenomics and performance in the market. So, let's get straight in.

Brief History and Background of Quilibrium

Quilibrium is a blockchain project that aims to build a decentralized solution for applications to make them permanent and uncensorable. In other words, the applications built using this platform will not be easily taken down or censored.

We all know that censorship is a primary concern in this world even after the evolution of the Internet, thanks to the centralized powers that can control, take down, or limit any application. This is where decentralization comes in, which takes power from any single entity and gives it back to the users based on how much they contribute to the network, i.e., through mining or validating transactions.

However, no such platform has yet arrived that offers 100% censorship resistance or the permanence of an application built on it. Quilibrium, on the other hand, claims to provide not just censorship resistance but also uses various cryptographic techniques to ensure the privacy and verifiability of the apps built using its native platform.

At its core, Quilibrium has a goal to solve the trilemma of censorship, privacy, and verifiability using a peer-to-peer network that also rewards miners or validators on the side. Thus, unlike those built using centralized solutions or networks, the applications built using Quilibrium's decentralized platform will not be easily de-platformed or censored.

About WQUIL Coin and Its Price Change on CoinEx

WQUIL is the native mining coin of the Quilibrium network, with high popularity overseas. The coin was launched on May 13, 2024. It has recently attracted 290 new people in the German-speaking area, and its ability to attract new people is second only to NOT. It has a total supply of 320.53 million coins, with a market cap of more than $66 million, as of June 14, 2024.

Besides, the coin ranks first in the browsing search data in German-speaking and French areas. In the last 24 hours, the coin's price has decreased by -5.9%. The all-time high of WQUIL was recorded at $0.4849 by CoinEx almost a month ago.

Being a utility-based coin, WQUIL may have a longer popularity period despite its low price mark of around $0.2 as of June 14, 2024. The project has yet to capture much traction, as it arrived just a month ago.

However, the price of the WQUIL coin is expected to rise once Quilibrium gains more popularity, but this is something only time can tell. If you want to trade cryptocurrencies, CoinEx is the good place to get outstanding volatility and prices.

Overview

*This article does not constitute investment advice.