WaykiChain, a leading blockchain project aiming to provide a secure, reliable and high-performant technology solutions for global prediction markets, decentralized assets exchanges, and decentralized forex exchanges, moved from strength-to-strength in 2018, delivering on the promise to build a robust public chain and big ecosystem.
While many existing online betting platforms have been using the same technologies for the past 15 years, the inaugural WaykiChain betting application, WaykiBet, incorporates the advantages of blockchain to manage asset transactions and betting systems.
Not only has the project built a substantial user-base and following throughout social media, but also consistently delivered on the technical milestone promises that were originally made to their community.
WaykiChain: The Future of Blockchain Applications in Global Prediction and Decentralized Exchanges
WaykiChain was formulated and launched in May 2017, and in a little over 6 months had gone on to achieve simultaneous listing of the WaykiChain WICC token on 5 exchanges including top-10 trading platform, Huobi Pro.
Within the same period of time, the project cemented a heavy-weight team who have used their wide-ranging industry knowledge to position WaykiChain within the top 5% of global cryptocurrencies. The executive body of the project alone bring a wealth of collective experience from tech and financial giants such as Alibaba, Tencent, Morgan Stanley and Intel.
Only one month after the formation of the project’s initial team, work had begun on the underlying DPoS-driven technologies used to provide a high-performing, proprietary smart contracts prediction infrastructure.
The technical prowess within the project, combined with a vision to dismantle the existing inefficiencies that traditional betting providers are unable to, has allowed for the use of superior nascent technologies such as blockchain to bring a new and improved offering to global prediction markets. In the future, WaykiChain will be dedicated to provide industry-level solutions which will enable the growth of decentralized assets exchanges and decentralized forex exchanges.
Technological Superiority to Existing Systems
Like other industry-leading projects such as Steemit, Tron and EOS, WaykiChain utilizes the advantages presented by the implementation of delegated-proof-of-stake (DPOS) to provide reduced centralization and an increase velocity of transactions on the network.
Not only does the use of DPOS present distinct advantages in comparison to other consensus mechanisms, when utilized effectively and incorporated into the inner workings of WaykiBet, DPOS presents significant improvements over the traditional backend systems used by existing industry participants.
Advantages of implementing blockchain-based systems compared to traditional technologies:
Unlike centralized databases which are used exclusively by existing betting platforms, WaykiChain’s implementation of blockchain provides transparency to users. Trust is significantly enhanced by the provision of a decentralized and publicly available record of transactions, and this allows for disintermediation within the WaykiChain ecosystem that is unparalleled by other non-DLT betting providers.
The implementation of blockchain also provides a level of system robustness that cannot be competed with when using centralized databasing. The WaykiChain network and the applications built upon it, share all data across a collection of nodes, where the removal of any one node from the system has a limited effect. In contrast, centralized databases do not have a high fault tolerance, and in most cases data corruptions within the network can lead to the collapse of the entire system.
WaykiChain’s advantage from implementing a combination of centralized and decentralized systems:
- DPoS-based systems are transparent and robust, however centralized databases typically have a higher level of performance. By combining centralized and decentralized technologies to build the infrastructure of WaykiChain, the unique benefits of blockchain are utilized, while simultaneously also being able leverage the performance benefits of centralized systems.
The Integration of the WaykiChain Token into the WaykiChain System
The WaykiChain Token (WICC) is the tokenized fuel that provides users with access to both applications built on WaykiChain and the system’s native functionality.
With WICC now being listed on over 100 cryptocurrency exchanges around the world, obtaining the token for use within the WaykiChain environment is simple for any user. Along with trading WICC, there are also a number of other methods available in order to obtain the token:
Trading with pre-existing token holders
Participating in the DPOS processes by accounting, voting and subscription, earning WICC for helping to maintain the system.
Since the launch of WICC in early 2018, tremendous growth in marketcap was seen towards the middle of the year where an all-time-high total value of WICC reached over $360 million. The WICC token has been integrated for use in all WaykiChain systems and within all of the initial Dapps that have been launched by the project.
Future of the Project
The future of WaykiChain is looking to be a continuation of the technical and commercial successes of the previous year.
WaykiChain CEO Gordon Gao stated during a New Year’s Eve address that “We are determined to jump out of the comfort zone of the blockchain world and create truly useful value for the wider masses”.
This echoes the mantra of WaykiChain to build a system that is not exclusively useful to those within the blockchain space, but to target the global betting market and to act as a conduit between blockchain and existing users.
Following a year in which doubt has been cast on much of the viability of blockchain startups, the strength, innovation and growing proven track record of WaykiChain is a reassuring indication of a new paradigm within in global prediction markets that is just on the horizon.
You can find more news from WaykiChain’s official channels:
Website: http://www.waykichain.com/
Official English Telegram Group: https://wicc.me/pr7
Global Developer Telegram Group: https://t.me/waykichaindeveng
Twitter: https://twitter.com/wayki_chain
Link to original article: https://medium.com/@cryptonovex/hong-kong-based-blockchain-innovator-waykichain-wicc-delivers-enhanced-public-chain-3-0-f025d8c116ff