Do you remember the Twist Network airdrop which I posted about back on 14th February 2018? Well, I am pleased to inform you that the company managed to conduct their airdrop without any hiccups and have been making steady progress since their initial distribution.
To give a brief update of their progress, the Twist Network team have been grafting away behind the scenes and making connections with the likes of CoinLib and Stocks.Exchange as a result. While the technological progress of the team has been relevant their attempts to raise awareness of the project have been slowly growing too.
Due to the fact that the majority of decentralised exchanges happen to be based on the Ethereum network there are not many free options regarding listing the coin, as it utilises its own blockchain. However, getting an official listing on Stocks.Exchange is a great place to start and, during one of their recent spikes in demand, Twist Network reported a market cap of over $1,000,000 (one million USD) which shows they are doing something right.
So, What Do They Do?
So, you have your Twist coins in your wallet and are wondering “what does the Twist Network actually do?” well, I guess I should probably explain. As mentioned in the title of this post, the aim of the Twist Network is to create a blockchain which is easily accessible for developers, to put it simply.
Due to the nature in which blockchain technology works, and the fact that the technology is still clamouring around ground zero, independent blockchains do not communicate with each other.
Think of blockchains as small societies which all use different languages to communicate among themselves. As you would expect, when two societies (blockchains) come into contact with each other they have absolutely no way of decoding what each other is saying, much like what would happen if a Spanish speaker went to Russia and started speaking Spanish to the locals.
This is a problem for obvious reasons. While different companies might have their own preferences regarding which blockchain they wish to use, in an ideal world all blockchains would be able to communicate with each other and exchange data/transactions flawlessly. This is something the Twist Network aims to solve.
Due to the way in which the Twist API is being developed the company is aiming to provide all developers of dApps with the ability to utilise the coding language of their choice and create cross blockchain application.
By creating what they are calling a “language agnostic” API the Twist team are planning to solve the issue of blockchains being unable to communicate with each other which I personally believe will positively affect the entire crypto industry.
The language agnostic API isn’t the only aspect of their platform which I find to be exciting, their Twist ID and Twist Toolbox both have the ability to drastically change the way in which the public views crypto altogether.
Enter The Toolbox & ID
As you might assume from the name of the feature, the Twist Toolbox is literally a blockchain toolbox which will provide developers with the ability to create dApps which are entirely tailored to their specific needs and provide the functionality of a personalised blockchain.
By using the Twist Toolbox a developer will be able to simply use the aspects of the Twist blockchain which they need and disregard the rest. This has the potential to streamline both the front and backend of dApps by allowing the processing power which is available to be used for operations which require it, without having to process a list of functions which are not needed.
While the Twist Toolbox provide’s developers with the ability to streamline development of their applications, the Twist ID drastically improves the user experience. Traditionally cryptocurrency wallets use a unique long string of letters and numbers as a means of identification, the problem with the wallet system is the fact that it can be all too easy to send funds to the wrong address and lose your money forever.
With the Twist ID users will be able to set themselves a unique, human readable, username – much like that of a social networking site. By allowing users to create a human readable username the chance of sending funds to incorrect addresses is minimised and developers no longer need to explain to their users the idiosyncrasies of using blockchain wallets.
While there is still a hell of a lot to come from this project, I am personally excited to see the progress of the Twist team. As a project which was entirely distributed for free the Twist Network is a truly decentralised and community driven project which has huge potential.
If they can deliver on their roadmap and on their targeted functionality I cannot see a reason why the Twist Network couldn’t become a catalyst for greater adoption of blockchain technology. Watch this space.
Please remember that this article is not to be taken as any form of investment advice and that you should do your own research before investing your hard earned cash into anything. We would also like to remind you that Something Decent is not in anyway responsible for the distribution of airdrops, bounties or giveaways unless it is stated that we are personally conducting them