Launched as a viral Telegram game, Notcoin quickly brought users into the Web3 space through its innovative tap-to-earn mechanic.
This article delves into the origins, technical fundamentals, and market performance of Notcoin to provide a comprehensive overview of this intriguing cryptocurrency.
What is Notcoin?
The Notcoin project began as a user engagement experiment, allowing participants to mine tokens by interacting with a virtual currency on the Telegram app. This gamified approach quickly gained traction, amassing millions of users and creating a vibrant community.
The Notcoin team saw the opportunity to merge entertainment with financial technology. Their goal was to create a perfect introduction to cryptocurrencies for users who may not be familiar with blockchain technology. By focusing on ease of use and accessibility, Notcoin has positioned itself as a gateway to the world of digital assets.
History and development of Notcoin
Notcoin (NOT) was first introduced in November 2023 as a closed beta within Telegram. The game was initially marketed as a meme currency with no clear purpose beyond being a viral sensation. Despite its humble beginnings and the limited experience of the development team, Notcoin quickly gained traction and attracted over 650,000 users within a few weeks.
The official launch on January 1, 2024 marked a major milestone: more than 5 million players joined in the first week alone. This rapid growth was reinforced by the support of the TON Foundation, which added legitimacy and technical backing to the project.
Technical fundamentals
Notcoin operates on the TON (Telegram Open Network) blockchain. The TON blockchain is known for its high transaction throughput and security features, making it an ideal choice for a project with Notcoin's scale and ambition.
Key technical features:
- block chain: TON (Telegram Open Network)
- Consensus mechanism: The exact consensus mechanism used by TON improves speed and security, but the sources did not explicitly mention detailed details.
- Token supply: Notcoin has a total supply of approximately 102.7 billion tokens, all of which are currently in circulation.
Notcoin's technical design emphasizes user involvement and ease of access. This is evident in its integration with Telegram, a platform with over 500 million active users, providing a significant potential user base for Notcoin.
How does Notcoin work?
Notcoin operates on the TON blockchain and employs a tap-to-earn mechanic, where players click on an animated coin to earn Notcoins. So what is Notcoin used for?
The game is designed to be simple and accessible, even for those new to cryptocurrencies. Key game features of Notcoin and how Notcoin works include:
Click Mining
Players earn the Notcoin cryptocurrency by repeatedly clicking on the animated coin in the Telegram chat. Initially, each click generates one Notcoin, but players can improve their earning potential through various in-game improvements.
Energy and power-ups
To prevent abuse, Notcoin uses a power system that limits the number of clicks per session. Energy replenishes over time and players can purchase power-ups with their mined Notcoins to increase their energy limits and speed up energy recharge. Boosters also allow automatic generation of Notcoin even when players are not actively clicking.
Bonuses and squads
Players can earn additional Notcoin bonuses by inviting friends to join the game or by participating in “squads,” which are public Telegram groups or channels that compete on leaderboards. This social aspect encourages collaboration and adds a competitive element to the game.
Future tokenization
Currently, Notcoins exist as in-game assets with no monetary value in the real world. However, there are plans to launch Notcoin as an actual token on the TON blockchain, which would allow players to trade and use Notcoins beyond the game, giving them real monetary value.
By integrating these features, Notcoin offers a simple yet engaging way for users to explore the world of digital currencies and blockchain technology.
Market performance
Notcoin's market performance has been remarkable since its inception. Despite its origins as a gaming-based token, it has achieved substantial trading volume and market capitalization, reflecting strong community support and investor interest.
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Recent market data:
- Actual Price: Approximately $0.00548
- 24-hour trading volume: Around 159 million dollars
- Circulating supply: 102.7 billion tokens
- Market cover: Approximately $563 million
Notcoin's price history has experienced volatility, typical of cryptocurrencies, with notable ups and downs. For example, its all-time high was $0.01445, reached shortly after its listing, and it recently recorded a low of $0.005124.
NOT began trading on multiple exchanges on May 16, allowing users who had earned TON to sell for profits. The liquidation caused a 55% drop in the price of the Notcoin cryptocurrency.
Use cases and applications
Users earn Notcoins by tapping their in-game screens, making it a fun and engaging way to introduce people to cryptocurrencies. The game mechanics include energy limits and power-ups to increase wins, enhancing the gaming experience.
Notcoin users can access a versatile ecosystem of digital assets, including decentralized financial applications. By leveraging the TON blockchain, Notcoin supports the development of decentralized applications.
Finally, the project has introduced an nft collection to combat bot farming and improve user engagement.
These nfts offer additional benefits and can be traded, adding a layer of value and utility.
How to buy Notcoin: methods and wallets
As Notcoin (NOT) continues to gain popularity, more users are looking to acquire this unique cryptocurrency. Here is a complete guide on how to buy Notcoin and the best wallets to store it:
Buy Notcoin via Binance Exchange
If you do not already have an account on KuCoin, BitFinex or Bybit, start by registering on the respective website and completing the necessary KYC (Know Your Customer) verification process.
Fund your account using supported cryptocurrencies like bitcoin (btc), ethereum (eth), or stablecoins like USDT.
Navigate to the trading section and look for NON trading pairs. Currently, you can trade NOT/btc, NOT/USDT and other available pairs. Place your purchase order at the desired price level and complete the purchase.
Alternative exchanges to buy Notcoin
You can also buy Notcoin at KuCoin, BitFinex or Bybit. First, register on the website of your choice and complete the necessary KYC verification process.
Fund your account using supported cryptocurrencies like bitcoin (btc), ethereum (eth), or stablecoins like USDT.
Navigate to the trading section and look for NON trading pairs. Place your purchase order at the desired price level and complete the purchase.
Wallets to store Notcoin
Tonquero
Tonkeeper is a popular wallet designed specifically for the TON blockchain, making it a great option for storing Notcoin. It offers an easy-to-use interface and strong security features. It also features secure storage, easy transactions, and compatibility with other TON-based assets.
TON wallet
The official TON wallet is another reliable option for storing Notcoin. This wallet provides seamless integration with the TON blockchain and supports all TON-based tokens. TON Wallet allows for greater security, support for multiple devices, and a simple user interface.
Other compatible wallets
Other supported wallets include MetaMask and Ledger Nano S/x.
With the right configurations, MetaMask can support TON-based tokens like Notcoin. This wallet is widely used and offers extensive features to manage various cryptocurrencies.
For those who prioritize security, hardware wallets like the Ledger Nano S and Ledger Nano x are great options. These devices can be configured to store TON-based tokens securely.
Regulatory compliance and security
Notcoin aligns with global regulatory standards, ensuring its operations are transparent and comply with the law. This includes compliance with anti-money laundering (AML) and Know Your Customer (KYC) regulations.
Using the TON blockchain, Notcoin benefits from strong security features that protect users' transactions and data. Advanced cybersecurity practices exist to mitigate risks such as phishing and hacking attempts.
Notcoin actively educates its community about the importance of regulatory compliance. This includes providing resources and updates to ensure users are aware of legal requirements and how they affect their interactions with Notcoin.
Frequently asked questions
What is the main purpose of Notcoin?
Notcoin's main goal is to integrate gaming with cryptocurrencies, providing users with an attractive way to earn digital assets. It aims to introduce a wider audience to the world of digital assets through its tap-to-earn gameplay mechanics, while also exploring applications in decentralized finance and decentralized applications.
How is Notcoin different from other cryptocurrencies?
Notcoin is differentiated by its origin as a viral Telegram game and its use of gamified earning mechanics. Unlike many cryptocurrencies that focus solely on financial transactions, Notcoin integrates gaming elements to attract users. Additionally, it operates on the TON blockchain, known for its high performance and transaction security.
Where can I buy and store Notcoin?
Currently, Notcoin can be acquired by participating in the game on the Telegram platform. Users earn Notcoins through in-game activities such as tapping and completing tasks. Once the token is launched on-chain, it will be tradable on platforms like GetGems and users will be able to store it in compatible wallets that support the TON blockchain.
Is Notcoin a good investment?
As with any investment, it is important to do thorough research and understand the risks involved. Notcoin has shown significant potential due to its innovative approach and strong community support. However, its success will depend on its ability to deliver on its roadmap and address regulatory challenges. Potential investors should stay informed about project developments and consider their own risk tolerance before investing.
How many Notcoins are there?
The total supply of Notcoin (NOT) is approximately 102.7 billion tokens, all of which are currently in circulation. This large supply supports widespread distribution and accessibility, with the goal of integrating cryptocurrencies into everyday activities through its gamified platform on Telegram.
