WaykiChain is focused on developing its own technology, bottom public chain layer and as well corresponding to that an ecosystem which will foster technology research and development, as well as project operation.
The independent research and development of the third generation of blockchain business reached the leading level in the industry, with high-performance transaction processing capabilities (TPS avg. 4500+), efficient mechanism of consensus (DPoS + pBFT), robust and smart engine (Lua + WASM) contract, plus the blockchain decentralized control ability. WaykiChain will provide expertise in critical areas of vertical industry with infrastructure services and industry solutions.
At present, with the team's continuous investment in research and development and the active participation of the community of developers and users, the base of WaykiChain has been continuously upgraded and optimized. One of the critical financial roots of blockchain developed by WaykiChain, stablecoin WUSD (built on the bottom layer of the public chain) is also enhancing the potential synergy of decentralized business development.
WaykiChain is an innovative technology company focused on blockchain technology development and related project operations. The third generation blockchain commercial public chain independently researched and developed by WaykiChain is at the forefront of the industry. With high-performance transaction processing capabilities, efficient consensus mechanism, powerful smart contract engine, and blockchain upgrade management capabilities, WaykiChain is able to provide enterprise-grade blockchain infrastructure and industry solutions.
At present, with the team’s incessant investment in R & D and the active participation of users and community ecological developers, the bottom layer of WaykiChain public chain has been continuously upgraded and optimized. Remarkable results have been achieved to continuously empower developers and application layers. As one of the important infrastructures to the De-Fi field promoted by WaykiChain, the stablecoin project built on the bottom layer of the public chain has been constantly improving the potential for decentralized business development.
Thanks to continuously developing and innovative blockchain technology, widely used business applications and the advantage of proper governance.
WaykiChain has a core competitive advantage in following fields:
Technology: WaykiChain has a mature and strong technology team. The members of this team have accumulated resourceful industry and technology experience in many sectors including finance, entertainment and IT, etc. They also achieved pioneering breakthroughs in the R&D and application of blockchain technology.
Industrial resources: The WaykiChain team is the perfect combination of experienced professionals with years of practical experience in three industries including guesswork, asset and foreign exchange exchange, and professionals who have a deep understanding of industry developments. In addition, the WaykiChain team will sign strategic cooperation agreements with leading companies in the target industry, they will provide strong support for WaykiChain's link to the target industry and promote the actual implementation of the WaykiChain application.
Business management: Unlike typical new projects, WaykiChain has a clear and accurate strategy towards the target industry. WaykiChain will take advantage of blockchain technology features such as decentralization, irreversibility, encrypted security, and point-to-point value transfer. WaykiChain will professionally and continuously penetrate into the target industry and gain market share in a fast way.
Fund management: in terms of fund management, WaykiChain will strictly follow the principles of fairness, fairness and openness and will focus mainly on WaykiChain development. The WaykiChain team will maintain the WaykiChain development fund in the specially established WaykiChain Foundation, promising the safety and sustainability of the fund. To ensure transparency in the use of funds, all allocations of funds in the WaykiChain project will be disclosed to all investors on a regular basis.
Market potential: Each industry WaykiChain targets is worth trillions of dollars. According to conservative estimates in 2017, the market value of the guessing game industry reached USD 1.3 trillion.
Continuous growth: by building a complete governance structure, WaykiChain Team has realized the effective administration of general procedures, code management, financial management, salary management and privilege operation scope, etc. to ensure the sustainable growth of WaykiChain. As the underlying system of blockchain 3.0, WaykiChain not only inherits the characteristics and advantages of the traditional blockchain ecosystem, but also breaks the technological barriers of today's blockchain, thereby truly combining blockchain and commercial applications. In addition, WaykiChain invests vigorously and continuously in R&D and in financial technology innovation with a focus on blockchain. Based on its latest achievements, WaykiChain has a clear vision to develop “Blockchain+” and to appreciate the value of traditional industries as well as other industries, building a mutually beneficial blockchain ecosystem in the 21st century.
Technology Characteristics
Consensus Algorithm: WaykiChain (WICC) uses the DPoS+pBFT consensus algorithm to balance overall performance and consensus efficiency. A total of 11 super nodes are arranged by voting, and a new block is generated every 3 seconds. After stress testing to the latest version of the WaykiChain mainnet, it was agreed that WaykiChain's trading capability reached an average of 3300+ TPS and peaked at 7800+ TPS.
Multiple Instances: WaykiChain provides dual machine smart contract technology, which implements Turing-complete computing capabilities: LuaVM + WASM VM, in the lower layer. Lua is a lightweight and compact scripting language that allows DAPP developers to quickly develop smart contracts. The WASM VM is a powerful and highly efficient virtual machine that supports multiple programming languages, enabling developers to implement advanced functionality in DApps.
Cross-chain Technology: WaykiChain will support heterogeneous cross-chain and decentralized atomic technologies, such as Bitcoin
and Ethereum, which supports several isomorphic sub-chains of core technologies in the WaykiChain ecology (eg high-frequency DEX sub-chains). Industrial grade applications targeted by WaykiChain will also have separate sub-chains built into WaykiChain. Application data are independent and parallel to each other. Application sidechains can define their own protocols, such as consensus algorithms, sidechain assets, and block intervals.
StableCoin Technology: The stablecoin system is based on the lower layer of the WaykiChain public chain. Stablecoins are pegged to market value, and can be generated by pledging twice the value of the assets on the chain. It can be freely circulated between accounts to meet the demands of various top-level applications. Stability is calculated by the decentralized feed price and the reference feed price of each block on the chain, to ensure that the values are referenced. When the price of the collateral asset fluctuates, a liquidation mechanism will be triggered (artificial liquidation and systematic liquidation) to ensure that the overall value of the collateral asset can be backed by stablecoins throughout the ecosystem. Stablecoins can be freely exchanged and circulated between users. At the same time, the stablecoin system will implement automatic pending orders and matching on a decentralized exchange (DEX) on the chain. For the interest that users pay and the penalties generated during the liquidation process, some of them will enter the risk pool, and the rest will be repurchased and destroyed in a decentralized exchange.
Decentralized Exchange (DEX): An efficient decentralized exchange based on the WaykiChain bottom layer, which supports the entire process of settling, matching, and settling pending orders. All transactions are chained to get a fully auditable transaction account. In addition, various types of crypto assets issued on WaykiChain can be used for transactions on the DEX.
Asset Issuance Standard: Currently, the basic application of WaykiChain has been completed. The team is making efforts to promote DApps landed on WaykiChain. A more refined asset issued standard than the ERC20 token was introduced to help users issue assets on the chain faster and more securely. Break the barrier between traditional finance and crypto assets on WaykiChain through a standardized formulation. WaykiChain supports five types of assets (underlying assets, collateral assets, user issued assets, cross-chain mapping assets, and smart assets) at the bottom layer of the public chain. So that it can become a strong and measurable settlement layer to meet the settlement and circulation demands of various commercial and financial industries.
Block Browser: Block browser is WaykiChain application data display system. Based on the blockchain application data, it will display information such as transfer records and address account balances. All data is open, transparent and immutable.
Browser Wallet Plug-ins: Browser wallet plug-ins (eg WaykiMax) are a kind of lightweight WaykiChain wallet that allows the web browser side to interact with smart contracts on WaykiChain, as well as various decentralized applications on WaykiChain. Barriers to use are greatly reduced and convenience is improved in future releases and transactions of assets.
Mobile Wallet: WaykiTimes is a mobile wallet for WaykiChain. It is designed mainly for crypto investors, blockchain developers and industry partners, helping users to more conveniently manage digital assets, experience De-Fi and other applications.
Allocation plan for WICC
WICC allocation figure 5-1
60% for public sale: To ensure sufficient liquidity to start the project at an early stage and equality and credibility of all participants, 60% of WICC will be open for public sale. The funds raised from the public sale will be kept by the WaykiChain Foundation, and will be used to pay for operating costs including product development, technology upgrades, marketing, finance, legal consulting and community incentives, etc.
15% to the development team, operations team and early investors: They have made a significant contribution to the early development of WaykiChain by providing manpower, resources and technology, etc. A portion of the reserved WICC will be awarded to them for their contribution. Most of this WICC share will be reserved as an incentive to encourage sustainable development and team maintenance. This WICC will be frozen for a certain period of time, and the holder cannot sell it during that period. The freezing period will be 6 months. The frozen WICC will open 5% quarterly from the 6th month after the public sale.
15% for strategic planning: This part of the reserved WICC will be used for the deployment of WaykiChain's target industries. It is maintained by the WaykiChain Foundation and will regularly disclose detailed usage information. It will use token exchange and project support to engage interest with influential forces in the target industry, grow WaykiChain Influence in the target industry and accelerate the process of market expansion.
10% for private investors: Initial private investors provide the necessary funds for team development and assume the risk of uncertainty in the early stages of the project. Therefore, 10% of the total WICC will be allocated to private investors. This share of tokens will comply with certain predefined freeze mechanisms.
WICC was launched in January 2018 with a total supply of 210 million tokens, of which 15% (31.5 million) will be distributed to development team, operations team and early investors for their contribution in the early stage of the project. This part of WICC was unlocked in July 2018, and then unlocked 10.5 million quarterly.
In order to prove the team's determination to develop WaykiChain project, the team decided to lock the unfreezing tokens for another four years. In July 2018, 21 million WICC were locked via WaykiChain mainnet smart contract for four years.
Conclusion
Stablecoin WUSD is a transparent and stable economic activity that aims to support the development of public chain ecosystem and the entire blockchain sector. It can even promote a more efficient and fair value circulation in other sectors. The team and community will continuously upgrade and improve the system. We expect WUSD to be used in more diversified scenarios with better risk control, governance and user experiences, so as to gradually achieve the foregoing long-term goals.
Contact Information
WEBSITE: https://www.waykichain.com/
WAYKITIME: http://wicc.me/officialweb01
WHITEPAPER: https://www.waykichain.com/Whitepaper-en.pdf
TELEGRAM: https://t.me/WICCWorldCupOfficial
TWITTER: https://twitter.com/wayki_chain
FACEBOOK: https://www.facebook.com/waykichainofficial
DISCORD: https://discord.com/invite/GWhzn8t
GITHUB: https://github.com/WaykiChain/WaykiChain
YOUTUBE: https://www.youtube.com/channel/UCjudZhgPcAX74LVxi23kKvg
Bitcointalk username: ghazbaz2019
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=2253670