Next Level Blockchain Ecosystem -Waykichain

Waykichain is a newly introduce public chain platform, similar to Ethereum and EOS blockchain model, that others can build upon. This blockchain platform that supports building complete smart contracts. It’s a very Special Advantage of Waykichain Ecosystem. The ambition of the WaykiChain is to make blockchain become a dominant force in providing enterprise-scale solutions that will enable the growth of other industries. It boasts of being able to process 1,000 transactions per second.

Currently, WaykiChain is able to provide a stable and secure environment for transactions in a prediction market through decentralization. Because Transparency is important in prediction markets and with centralized models, anyone can corrupt its system, So decentralized models more advanced than the centralized model. The further decentralized model has no central or controlling party that can alter or distort the process. Currently, WaykiChain has focused on Defi ecosystem development and make more applications for WUSD, But its use cases are expected to go beyond that. We can see further industry involvement in the near future.

Let’s look at Wankichain Technical aspects,

Waykichain is using world latest technology to improve its products. These are the main technological aspects they use for developing Waykichain blockchain.

01) Consensus Algorithms

WaykiChain is using DPoS+pBFT consensus algorithms to balance overall performance and consensus efficiency. Because of the Consensus Algorithms, WICC achieves reliability in a network involving multiple unreliable nodes. A total of 11 supernodes are set up by voting, and a new block is generated every 3 seconds. The latest version of WaykiChain’s main-net provides the trading ability to reaches an average of 3300+ TPS and peaks at 7800+ TPS. This is considerably very high-value compare to other similar projects.

02) Dual Virtual Machines

WICC provides dual-engine smart contract technology that implements Turing-complete computing ability: LuaVM + WASM VM, at the bottom layer. This is a very special technical feature in Waykichain. Lua is a very user-friendly Computer language that allows DAPP developers to develop smart contract rapidly. WASM VM is a powerful, highly efficient virtual machine that supports multiple programming languages, which allows developers to implement advanced functions in DApps. With these features WICC creating new blockchain history to the future.

03) stable coin Technology

The bottom layer of WaykiChain public chain use for creating a stable coin system. These Stable coins can be freely exchanged and circulated between users. At the same time, the stable coin system will implement automatic pending orders and matching in the decentralized exchange (DEX) on-chain.

04) Cross-chain Technology

WaykiChain will support heterogeneous cross-chain and decentralized atomic technology which similar to Bitcoin and Ethereum. Therefore multiple isomorphic sub-chains of the core technology in WaykiChain ecology. WICC will also have separate sub-chains built on WaykiChain for targeting Industry-level applications.

05) Decentralized Exchange

WICC decentralized exchange based on the bottom layer of the public chain, So that, supports the entire process of completing pending orders, matching, and settlement, and all transactions are recorded on-chain to completely obtain an auditable transaction account. It’s improving the transparency of the DEX. Other than that various types of crypto assets issued on WaykiChain can be used for transactions on DEX.

06) WaykiChain Node Technology Architecture

In the GitHub, there is only one Waykichian node program running at the moment. It has two main roles,

i) Core Node — It used to verify transactions and generate new blocks. There are 11 such core nodes deployed in WaykiChain.

ii) Common Nodes — It used to synchronize data with WaykiChain core node, manage the wallet private key and address, and include initiating transactions to the chain. Only one condition that determines whether a node becomes a core node is the number of votes that are won. Therefore the voting and withdrawal can be initiated by the WaykiChain holders at any time, the number of votes received by each node may be constantly changing. Only the nodes with the top 11 votes become the core nodes.

07) Mobile Wallet

WaykiTimes is the mobile wallet for WICC. 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. It’s a very User-Friendly Wallet. Many Features containing it.

WaykiTimes Download: https://www.waykichain.com/wallet.html

08) Block Browser and Browser Wallet Plug-in

Block browser is the data representation system in Waykichain. With the use of blockchain’s app data, it will display information such as transfer records and balances of addresses accounts. All of these data are open, transparent and irreversible by nature. So anyone can check these.
WaykiMax is the Browser Wallet Plug-in. It is a very simple wallet that allows web users to interact with Waykichain smart contracts, as well as various decentralized applications on WaykiChain.

09) Wayki — CDP

CDP means Collateralized Debt Position, We can pledge WICC into the CDP to generate WUSD. According to the predefined collateralization rate, your open CDP generates WUSD. There is a mechanism to protect the stable operation of the system.

Wayki -CDP: https://cdp.waykichain.com

Using this link you can access the Wayki DEX.

Let’s take look at WaykiChain Stable Coin — WUSD,

There are 3 types of Stablecoins currently circulate around the Crypto world. They are Centralized IOU Stablecoins, Crypto-Collateralized Stablecoins, and Non-Collateralized Stablecoins.

Centralized IOU Stablecoin-It Colaterlized with fiat money. Most commonly use USDT, PAX, Gemini Dollars are the examples

Non-Collateralized Stablecoins -It doesn’t collateralize with any crypto assets or fiat money. It controls the price according to the change of supply and demand. This isn’t used very commonly in the Crypto world. Basis, CarbonUSD is the example for Non-Collateralized Stablecoins.

Crypto-Collateralized Stablecoins -It collateralize with crypto assets. DAI (MakerDAO), Havven is a famous example of it. Our Stablecoin of Waykichain also categorized into Crypto-Collateralized Stablecoins. DAI and Havven are using a two-coin model. But Waykichain using 3 coin token model, It gives many advantages over the other similar project.

3 Token Model

WICC, WUSD, and WGRT are the 3 tokens that exit in Waykichain. WICC is a Liquidity asset which uses for Wayki CDP. We pledge our WICC in Wayki CDP and according to that, we will receiving WUSD. WUSD is the Stablecoin in Waykichain Ecosystem. WGRT is the governance token.

As the first stable coin developing based on the bottom layer of the public chain, WUSD has better security, manageability, and expandability comparing to the contract-based development type. WUSD has a strong risk resilience, including a unique Risk Reserve mechanism. When the collateral assets fluctuate too much, even the black swan incident will bring the risk of a full suspension to the stable coin system, the system will set a “debt ceiling” that will only allow a portion of the total amount of collateral assets to enter the stable coin system, thus preventing a large amount of liquidation from causing further significant declines in collateral assets. And also, WUSD has application advantages in landing with WaykiChain DApps as initial circulation support.

WUSD is More Perfect in Operation Mechanism, Security and Efficiency. As a cryptocurrency collateralized stable coin, WUSD hopes to better face the challenges based on WaykiChain public chain ecology and contribute to the development of the public chain industry, as well as the blockchain industry.