Blockchain platforms abound, and new ones are appearing daily. In the real world, it is unusual to find a platform that not only combines established business methods but also functions. Even in the earliest Bitcoins, there was more value than money. Although the ultimate goal of blockchain technology is to revolutionize society or perhaps to topple the current business paradigm, this situation deviates from that goal in certain ways.
There will be new ways to exchange value on the internet in the future thanks to WaykiChain's new blockchain environment. On the blockchain sector in general, and how it may be utilized. Through the use of industrial applications, WaykiChain plans to bring blockchain technology to everyone.
Because of its use of cutting-edge blockchain technology, WaykiChain is well-positioned to enter and dominate new markets, such as guesswork, asset exchange, and foreign currency exchange, while also garnering a large following of loyal customers. WaykiChain is positioned to become a blockchain platform with real-world corporate use cases based on this basis.
Decentralized Forex Business Solution
The number of people using WaykiChain will rise in tandem with its expansion. These FIAT drivers hail from a wide range of countries, speak numerous languages, and operate a wide range of FIAT vehicles (official currency). FIAT (legal cash) can be swapped in order to make it easier for everyone to join the WaykiChain network. In addition, the technology will benefit those who need to transfer money between countries.
WaykiChain's decentralized forex software will have FX receivers for several legal currencies. Everyone has the capacity to offer as well as receive. StableCoin is a crypto asset that may be committed to WaykiChain, such as Bitcoin, WICC, and Ethereum, and is tied 1:1 to FIAT (legal cash). To facilitate the movement of money, WaykiChain allows users to pay for assets with WUSD and withdraw cash in WUSD at official exchange rates. It is expected that the WUSD inventory would be appropriately documented in the public blockchain browser. WaykiChain will issue WUSD equivalents for each security deposit, which it will recycle if the depositor requests a cash withdrawal.
As an illustration, take the case of investor John, who has RMB 70,000 he wants to convert to USD. In contrast, John chose to use WaykiChain because of his extensive knowledge of the foreign exchange market in the United Kingdom. Through the decentralized FX platform WaykiChain, John was able to locate a Terrence beneficiary ready to exchange his RMB for USD. When John gave Terrence WCNY 70,000 he gave him WCNY 70,000. After that, John receives WUSD at the same exchange rate as USD. John will get 10,000 WUSD if the USD/RMB exchange rate is 1:7. After receiving 10,000 WUSD from Terrence, the system reclaimed the money. Terrence was able to increase his WaykiChain holdings by making frequent deposits.
The use of smart contracts powered by the WaykiChain will guarantee both speed and security for transactions. Customers will have a simpler time converting currencies and sending money overseas. As a result of these modifications, transaction costs will be reduced as well. It's a godsend for businesses, since blockchain can ensure data integrity without requiring users to build up credit. ID verification can be avoided during currency transactions because it takes too long and is inconvenient. As a result, the process is completely transparent and incredibly safe. The decentralized settlement of foreign exchange transactions on the blockchain will speed up the process of settling these transactions quickly. The reductions in both intermediate costs and settlement risk are expected to be significant.
WaykiChain Characteristics and Advantages
Listed below are some of WaykiChain's technology's characteristics and benefits.
A new sort of stablecoin and DEX technology built on the public chain's bottom layer.
Five asset categories should be supported in the public chain's bottom layer so that it can handle the settlement and circulation requirements of various commercial and financial industries (collateral, user-issued tokens, cross-chain asset mapping, and intelligent tokens).
- With its 3300 transactions per second processing capacity, DPoS + pBFT consensus stands out from the crowd.
- Three. An execution engine that provides security, efficiency, scalability, and developer friendliness, all while supporting several programming languages. :
- By splitting the main chain and sub-chains, we can better meet industry scalability, transaction throughput, and customisation needs.
- Decentralized atomic cross-chain diversification can be used to ensure reliable interoperability with a variety of public chains.
- As a company, Oracle is not one person or organization. Security, openness and scalability are all positive aspects of the new system.
For More Information Visit :
Website : https://www.waykichain.com/
Whitepaper : https://www.waykichain.com/Whitepaper-en.pdf
Platform Download : http://wicc.me/officialweb01
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
Writer :
Bitcointalk Username : apataak
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