WaykiChain and Stablecoin - Overview
Stablecoin is the first generation of digital currency asset-backed stable currency. It is a new type of digital currency that maintains a constant price, and it is used to represent the value of other assets such as other cryptocurrencies and fiat currencies. The underlying assets used in stablecoins are usually fiat currencies or gold.
The most well-known stablecoins are USDT (Tether) and TUSD (TrueUSD). USDT, which is issued by Tether Limited, is pegged to US dollar at 1:1 ratio. TUSD, which is issued by TrustToken, is pegged to US dollar at 1:1 ratio. The value of TUSD is based on TrueCoin's blockchain infrastructure, the underlying assets are in custody by multiple custodians with professional auditing firms and verified by independent third parties.
The value of the asset is based on WaykiChain's blockchain infrastructure and the underlying assets are in custody by the custodian partners with professional auditing firms. With the advantages of transparency, non-speculative property, safe custody and high-speed circulation, WaykiChain's stablecoin is expected to become the media for asset preservation and daily payment and pricing in blockchain field.
What Is WaykiChain?
WaykiChain is a block-chain company in China, is developing a cross-border financial services platform. The company has created a stablecoin, WUSD (a USD-pegged token), that can be used to trade national currencies from different countries.
Tether is widely used for currency trading in the traditional financial market. However, the USDT does not have complete compliance with US laws, and there are many doubts about its legal status. For this reason, various institutions and individuals do not accept USDT as a real currency.
WaykiChain's WUSD has passed the strict review of the U.S. dollar by lawyers and accountants in the United States and has become a fully compliant national currency on chain with ERC20 token standard. The company also plans to issue more coins pegged to other currencies such as Japanese yen and Chinese yuan. By then, users can use multiple digital currencies on WaykiChain's platform to make cross-border exchanges; they will no longer be limited by geography when it comes to investments overseas.
WaykiChain WGRT & WUSD Official Announcements
WUSD is a blockchain-based digital currency that uses a mechanism known as a "token vault" to maintain a floor on the value of the coin. The coin is backed by an audited reserve of 100% US dollars and its value is maintained by WaykiChain. WaykiChain's token vault is supported by custodian banks, auditors and risk management companies. This will help minimize volatility of WUSD and also reduce counterparty risks associated with other stable coins.
WUSD is live on the Ethereum mainnet since April 6th, 2018. Withdrawals and deposits are supported during this period to ensure smooth transition between ERC20 WUSD tokens and WUSD in the WaykiChain ecosystem. After May 20th, 2018 WUSD will only be available on WaykiChain's public blockchain.
WUSD and WGRT, the price of which is based on WaykiChain's blockchain infrastructure and the underlying asset is in custody by the custodian partners with professional auditing firms. With the advantages of transparency, non-speculative property, safe custody and high-speed circulation, WaykiChain's stablecoin is expected to become the media for asset preservation and daily payment and pricing in blockchain field.
WaykiChain Introduces Application Scenarios of WUSD
As the world's first major stablecoin, WUSD has been widely praised by investors and partners. They believe that WUSD will be able to solve the volatility problem that has plagued the blockchain industry. The WaykiChain team is committed to creating the WUSD application scenarios, including but not limited to:
In addition, WaykiChain will establish a research institute to explore more innovative applications of WUSD, such as:
WaykiChain Executes Cross-Border Finance Function
WaykiChain is a new generation of public chain technology that aims to provide efficient, secure and convenient infrastructure services for the cross-border tokens. The combination of blockchain technology and cross-border finance is also a new business model with great commercial value.
WaykiChain is committed to establishing an internationalized cross-border financial platform, building an ecosystem that connects the world through finance, capital markets and global blockchain trade based on the strengths of WaykiChain technology.
DPoS+pBFT Algorithm for Fast Transactions
DPoS + PBFT Consensus Mechanism - WaykiChain (WICC) adopts DPoS+pBFT consensus algorithms to balance overall performance and consensus efficiency. A total of 11 super nodes are built up by voting, and fresh blocks are created every 3 seconds. WaykiChains trading ability reaches the average of 3300 + TPS and peaks at 7800 + TPS.
The Incentive Scheme - WaykiChain (WICC) adopts a novel incentive scheme that encourages WICC holders to participate in the super node elections and lock their tokens in order to get rewards. There will be total of 11 super nodes in WaykiChain network, 10 normal nodes will be elected by voting nodes and 1 super node will be elected by the community through the voting system. Every year there will be one-time election for each node and each node needs at least 100 million votes from other nodes to become a candidate.
How to make a new wallet on WaykiChain with WaykiMax
Dapp is an abbreviated form of decentralized applications. As the blockchain technology continues to develop, the number of decentralized applications will continue to increase. It is expected that more and more people will use dapps in their daily lives. However, there are still some problems to be solved before dapps can go mainstream.
The biggest problem with dapps today is that they are not user-friendly at all. Currently, it takes a lot of time and effort to get into a dapp. The first step is downloading torrent software or using a virtual machine to access decentralized application networks. Then you need to purchase ETH tokens from an exchange like Coinbase or Binance and transfer ETH tokens to some ETH addresses in order to use specific DAPPs. This process involves multiple steps, which makes it difficult for users without technical background to get started with dapps.
To solve this problem, WaykiChain designed a plugin for leading web browsers - Chrome and Firefox is WaykiMax- so that users can easily access their favorite dapps without downloading any additional software or purchasing any tokens. The WaykiMax plugin includes two parts: one is the extension, which is used for signing transactions; the other is the wallet functionality. With these two parts
Here is Step By Step create wallet using WaykiMax
Step 1: Install WaykiMax on Chrome or Firefox. After installing the plugin, you can use it to interact with dapps.
Step 2: Click the "WICC Token Or WGRT" button in the plugin and click "Add Token". Scan the QR code of a token and input the token name and number of decimal places.
Step 3: Click on "Send WICC Or WGRT ", input your mnemonic phrase, enter your password, confirm transaction details again and click "Send token". You can send token from your account to another account.
Follow, and join at :
Webiste : https://www.waykichain.com/
Whitepaper : https://www.waykichain.com/Whitepaper-en.pdf
Twitter : https://twitter.com/wayki_chain
WaykiChain Telegram : https://t.me/WICCWorldCupOfficial
Facebook : https://www.facebook.com/waykichainofficial
Discord : https://discord.com/invite/GWhzn8t
About Content Creator (Write)
BTT Username: Barbara Eberhardt
BTT Profile: https://bitcointalk.org/index.php?action=profile;u=3403783
WaykiTime Wallet Address: WkCrLWYQhnELinCR7u6vBbPKJ5aigrR6EV