What Is WAT?
WAT is an acronym for the WaBi Token, a digital asset launched by Walimai in 2017. The token serves as the underlying platform currency used to purchase products on Walimai’s anti-counterfeiting platform. It also allows users to access and benefit from various features and services offered by the blockchain-powered anti-counterfeiting system.
How Does WAT Work?
The WaBi Token works similarly to other cryptocurrencies such as Bitcoin or Ethereum, but with a few key differences. First, it is based on a dual-token system where one token holds value (WaBi) and another acts as loyalty points (Loyalty Points). This reward incentive encourages users to use the platform more often, thus increasing its usage over time which will help increase its value and demand. Additionally, all transactions made within the Walimai ecosystem are verified using smart contracts and can only be completed if certain conditions have been met between both parties involved in each transaction. This helps protect against fraud and counterfeiting of goods purchased through their network while also providing additional security measures that regular payment systems lack.
Why Use WAT?
The main advantage of using WaBi Token is that it enables users to quickly buy products without having to worry about potential fraud or counterfeit issues associated with traditional payments methods such as credit cards or bank transfers. As mentioned above, all transactions are verified using smart contracts which ensures that only legitimate purchases can be made through their platform at any given time – providing added security for those who choose this method of payment when making online purchases. Additionally, they offer rewards in Loyalty Points which can be exchanged for discounts on future purchases or even converted into cash – allowing users to save money while shopping online securely!
