Axel Coin (AXEL) is the native utility token of the Axel Go Network, a decentralized web infrastructure protocol. The Axel Network aims to enhance access, privacy and sharing for web users through blockchain technology.
In this comprehensive guide, we’ll provide an in-depth look at Axel Coin — how it works, key features, use cases, and an analysis of its price history and future outlook.
Overview of Axel Go Network
The Axel Go Network launched in 2018 with the goal of improving the current web infrastructure for privacy, security and access. Some of its core features include:
- Decentralized file sharing and storage capabilities.
- Using blockchain to ensure privacy and data integrity.
- Secure encrypted connections for web browsing.
- Accessing distributed web content through peer nodes.
- Features like VPN and ad blocking natively integrated.
- Consumer-focused wallet apps for easy onboarding.
The Axel Go app and browser aim to give users control over their web experience while leveraging blockchain in the background.
What is Axel Coin (AXEL)?
Axel Coin is the native utility token that powers the Axel Network. AXEL is an ERC-20 token built on Ethereum. It has several key use cases:
- Used to access premium features in Axel Go apps.
- Reward for sharing resources on the network.
- Payment for services like secure browsing and file storage.
- Staking AXEL provides access to operate masternodes.
- Used in community governance over the ecosystem.
There is a fixed maximum supply of 10 billion AXEL tokens. The token economics are designed to increase utility and circulation over time.
Key Features of Axel Network
Some notable technical features of the Axel Network include:
- Decentralized Nodes — A global network of nodes operated by token holders to power services.
- Two-Layer Architecture — Combination of Ethereum smart contracts and proprietary side chains.
- Sharding — Breaks data into fragments spread across nodes for redundancy.
- Encrypted Data Containers — Files stored in encrypted containers only accessible to owner.
- Distributed Storage — Leverages underutilized storage capacity to avoid centralization.
- Lightning Swap — Enables instant, low-cost crypto conversions and payments.
Together these capabilities allow delivering a decentralized web infrastructure.
Use Cases for AXEL Token
Here are some of the main uses of the AXEL token:
- Pay for premium bandwidth for faster browsing.
- Purchase extra storage space for personal files.
- Reward for providing storage capacity and processing power.
- Stake to operate masternodes on the network.
- Unlock additional features in Axel Go apps.
- Vote on governance like development funds allocation.
- Access to premium user support resources.
- Purchase NFT collectibles created on Axel.
This wide range of utility helps drive value for the AXEL token.
Price History and Market Performance
Axel Coin held an ICO in January 2018, issuing tokens at $0.08. The token traded between $0.05 and $0.12 for most of 2018.
In mid-2019, AXEL began rallying, reaching an all-time high price of $0.27 in July of that year. It cooled off for the next two years fluctuating between $0.01 and $0.05.
In 2021, a surge of interest in web3 and internet-focused coins pushed AXEL to a local high of $0.08 in September. However, it gave back most of those gains, returning to the $0.01 — $0.03 range by 2022.
As of September 2022, AXEL has a market cap of around $100 million and ranks around #375 on CoinMarketCap.
Axel Go Network leverages blockchain technology to try enhancing privacy, security and access for web users. The AXEL token serves as the key utility asset to participation across its ecosystem of apps and infrastructure.
While adoption is still in early stages, Axel provides meaningful improvements compared to legacy web systems. With wider adoption, AXEL may see increased usage and value accrual going forward.