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The Root Network (ROOT) is a layer 1 blockchain designed as a hub for the open metaverse, focusing on interoperability and user experience. It employs a dual-token system with XRP as the default gas token and ROOT for governance, staking, and other core functions. The network supports decentralized applications, digital collectibles, and AI-powered content, aiming to create a seamless and interconnected experience across the metaverse.
The Root Network (ROOT) is a cryptocurrency that serves multiple purposes within the ecosystem. Here are the primary ways it is used:
Governance Token: ROOT is the network governance token, allowing holders to vote on key decisions such as software upgrades, runtime deployments, and block reward economics. This ensures that the community has a say in shaping the future of the network.
Proof-of-Stake (PoS) for Network Security: ROOT is used by validators and delegators to secure the network through a nominated proof-of-stake (NPoS) model. This incentivizes participants to maintain the integrity of the network, as they earn fees from various network activities.
In-Game Token: ROOT is the primary in-game token for the Futureverse game ecosystem. It can be used for various in-game activities such as land rewards, game rewards, and purchasing in-game items.
Data Sharing Incentives: ROOT can be used to incentivize data sharing between users and third-party applications via the Token Service platform. This promotes data interoperability and fosters a more collaborative environment within the metaverse.
Staking and Rewards: Users can stake ROOT to earn passive rewards, which are distributed based on participation levels and the amount of ROOT staked. This encourages users to contribute to the network's security and stability.
Token Creation and Trading: ROOT can be used to create and trade digital assets, including non-fungible tokens (NFTs), within the network. This facilitates the creation of new digital collectibles and enhances the overall user experience.
These diverse use cases make ROOT a versatile and integral part of the Root Network ecosystem, supporting both governance and practical applications within the open metaverse.
To store The Root Network (ROOT) tokens, you have several options:
KuCoin Account: You can store your ROOT tokens directly in your KuCoin account. This is a convenient option, especially if you plan to trade or use the tokens frequently.
Non-Custodial Wallets: For greater control and security, you can transfer your ROOT tokens to non-custodial wallets. These wallets allow you to manage your tokens independently without relying on a third-party service.
Password Managers: Another option is to store the private keys or access information for your ROOT tokens in a password manager. This ensures that your sensitive information is securely stored and easily accessible.
- Hardware Wallets: For maximum security, consider using a hardware wallet specifically designed for cryptocurrency storage. These wallets provide an additional layer of protection against unauthorized access.
It is essential to choose a storage method that aligns with your needs and risk tolerance. Always follow best practices for securing your cryptocurrency assets, such as using strong passwords, enabling two-factor authentication, and keeping your software up to date.
To buy The Root Network (ROOT) tokens, follow these steps:
Create an Account:
- Sign up on a reliable centralized exchange such as KuCoin, MEXC, or Binance with your email address, mobile phone number, and country of residence. Create a strong password to secure your account.
Secure Your Account:
- Ensure stronger protection by setting up Google 2FA, anti-phishing code, and a trading password.
Verify Your Account:
- Verify your identity by entering your personal information and uploading a valid Photo ID.
Add a Payment Method:
- Add a credit/debit card or bank account after verifying your account.
Buy ROOT Tokens:
- Use a variety of payment options to buy The Root Network on the chosen exchange. You can buy stablecoins like USDT first and then use them to purchase ROOT tokens on the spot market.
Store ROOT Tokens:
- You can store your ROOT tokens in your exchange account or transfer them to a personal cryptocurrency wallet for added security.
These exchanges offer safe and easy ways to buy The Root Network (ROOT) tokens instantly.
The Root Network (ROOT) is a layer 1 blockchain designed to serve as a foundational layer for the open metaverse. It was created by Futureverse, a global media tech powerhouse established in 2022 by Aaron McDonald, Shara Senderoff, Marco Brondani, and Daniel Gillespie. The network is built on Substrate and is EVM compatible, allowing it to support a wide range of protocols and functionalities.
The Root Network has several key features aimed at enhancing user experience and interoperability. These include a multi-token economy, where the primary network token, ROOT, is separated from the gas token, XRP, sourced from a partnership with Ripple and the XRPL. This separation enables efficient network operation and fosters liquidity for block rewards. Additionally, the network has a unique any-token gas economy, allowing users to pay transaction fees using any supported token, which simplifies user onboarding.
The network also includes various runtimes, such as the NFT runtime, which provides a unified network-wide experience for NFTs, and the Fungible Assets runtime, which allows users to create and launch standardized fungible tokens without needing to deploy smart contracts. Furthermore, the network has a decentralized exchange runtime that provides an in-chain decentralized exchange (DEX) with a rich set of features for trading collectibles and building applications.
The ROOT token has a maximum supply of 12,000,000,000, with approximately 1,038,925,778 ROOT (8.66%) currently in circulation. The token is used for governance, securing the network via proof-of-stake, block rewards for node operators and validators, and as the primary in-game token for the Fluf World game. It also serves as an incentive in the network’s Data Marketplace.
The Root Network has been designed to be highly interoperable, with support for various networks, including Ethereum and XRPL. This interoperability is expected to enhance the overall user experience and facilitate the growth of the open metaverse.
The Root Network (ROOT) is a Layer 1 blockchain designed to facilitate seamless user experiences and asset interoperability across the open metaverse. It operates using a Proof of Stake (PoS) consensus mechanism, which ensures high performance and low environmental impact. Here's an overview of how it works:
Key ComponentsAny-Token Economy: The Root Network allows users to onboard using any token, which is then automatically converted to the default gas token. This simplifies user onboarding and optimizes gas fees for both users and validators.
Integrated EVM: The network supports full Solidity smart contracts, enabling any code previously written for Ethereum to run natively on The Root Network. This provides broad support for smart contracts, DApps, and existing Ethereum-based asset collections.
Asset Bridges: The Root Network natively supports asset bridges, which enable the transfer and referencing of fungible and non-fungible assets, as well as arbitrary data, between blockchains. This increases liquidity, utility, and visibility for assets housed on other chains.
- Asset Register: The Asset Register platform allows the creation of relationships between assets, enabling richer applications while adhering to web3 design principles. It consists of the Asset Register Core, the Asset Register API, and the Schema Management system for validation and interoperability.
ROOT Token: The ROOT token is the native token of the network and serves as collateral for those who want to participate in creating new blocks. It is used for governance, proof-of-stake, and various utility functions within the network.
Token Distribution: The total supply of ROOT tokens is 12,000,000,000, with distribution across several pools, including community rewards and a bootstrap pool for validators and stakers.
Gas Fees and Rewards: Gas fees accumulate during a 90-day reward cycle and are transferred to The Vortex, where Vortex tokens are minted to reward participants based on their participation level. These tokens can be redeemed anytime, releasing the underlying tokens to the holder.
Digital Assets and Tokens: Users can create digital assets and tokens without needing to program smart contracts directly, using an advanced UI to tokenize items and create digital assets.
Digital ID: The Root Network supports digital IDs, which are seen as a more secure and transparent alternative to traditional IDs.
Altered State Machine AI Protocol: The network integrates support for AI agents, which can be created and traded alongside other digital assets in a peer-to-peer manner.
- Root Network Wallet: The wallet provides users with an easy-to-use option for storing assets, managing tokens, and using digital IDs.
Staking: Users can secure passive rewards by staking ROOT tokens to help secure the blockchain and participate in community governance.
DApp Rewards: DApp owners receive rewards in the form of Vortex tokens for running their operations on the blockchain, which can be traded for other assets on DEXs.
Overall, The Root Network is designed to provide a seamless user experience, optimize gas fees, and enable interoperability across the open metaverse.
The Root Network (ROOT) token has several strengths that contribute to its potential and utility:
Governance and Security: ROOT is the network governance token, controlling core features like software upgrades, runtime upgrades, and new runtime deployments. It is also used for securing the Proof-of-Stake network, incentivizing validators and delegators to participate.
Multi-Token Economy: The Root Network operates a dual-token system, where ROOT is used for governance and security, while XRP is used for gas fees. This structure helps maintain network efficiency and security.
Interoperability: ROOT supports the creation and exchange of digital assets across various applications, including NFTs, using industry standards like ERC-20 and ERC-721. It also allows for cross-chain asset transfers without needing smart contract code.
EVM Integration: The network is EVM compatible, allowing developers to seamlessly launch solidity programs without recoding, making it easier for developers to transition to The Root Network.
Developer Support: The network focuses on empowering developers to build safer and more interoperable dApps that can leverage each other's options to enhance the user experience.
Futureverse Utility: ROOT is the primary in-game token for the Futureverse game ecosystem, used for various activities such as land rewards, game rewards, staking to earn content, and more.
Data Marketplace: ROOT can be used to incentivize data sharing with third parties via the Token Service platform, promoting community-owned and controlled data sharing.
Community Engagement: The network has a strong focus on community participation, with rewards distributed through the FutureScore program, which encourages engagement and loyalty among community members.
These strengths position ROOT as a versatile and powerful token in the open metaverse ecosystem.
The Root Network (ROOT) carries several financial risks that investors should be aware of. One of the primary risks is its high risk score based on proprietary analysis by InvestorsObserver, which indicates that the token can be easily manipulated by limited trading due to its low market capitalization and volume. This means that a small amount of money can significantly impact the token's price, making it a high-risk investment.
Additionally, the token's value is inherently subjective and not backed by any intrinsic value. Past performance is no guarantee of future success, and the token's value can decline for various reasons. The Root Network's success relies heavily on its adoption by enterprises and developers, which is uncertain and competitive in the Layer-1 blockchain space.
Investors should also be aware that the Root Network community and founding team are not obligated to disclose material information to the public, and holders of ROOT tokens have no recourse if the token's value declines. Furthermore, changes in applicable laws and regulations can suddenly and negatively impact the use, transfer, exchange, or value of ROOT tokens.
Overall, investing in The Root Network (ROOT) involves significant financial risks, and investors should conduct thorough research and assess their personal risk tolerance before making any investment decisions.
- Aaron McDonald: Co-founder of Futureverse, the company behind The Root Network, which combines expertise in web3, AI, and entertainment to bootstrap applications on the network.
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