What is MWC and BSC?
MWC is short for MoonWalkCoin – a cryptocurrency token released on BSC – Binance Smart Chain.
Binance Smart Chain is a blockchain provided by company of Binance – one of leading exchanges in crypto market.
Similarly as well known Bitcoin has its own chain, Binance Smart Chain is based on Ethereum architecture allowing anyone to create new tokens and perform transactions at much lower fees than in other networks.
MoonWalkCoin is a token deployed on this Smart Chain. Such a token is deployed as what is called a Smart Contract. A piece of code that is governing the rules of how the tokens are handled – for example tax applied to transactions. The value of the tokens is called Liquidity Pool and its value comes from:
- the initial Liquidity Pool funded by the developer that created MWC,
- BNB swapped for MWC by everyone buying MWC
Simply, the Liquidity Pool is the actual amount of money currently stored in the token contract.
So how does this all work?
Creation of Ethereum network has provided a whole new technological layer of Internet that allows for programming rules about handling monetary transactions. MoonWalkCoin’s Smart Contract deployed on BSC is exactly such a program that allows for flow of value through MWC tokens.
When you create a wallet on Ethereum network, it can be used with variety of cryptocurrencies over various networks – Ethereum, Smart Chain, Fantom and many others.
This wallet is a unique block on the chain and can be used across multiple devices and networks at the same time.