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What is WaykiChain (WICC) – All You Need to Know

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Carlos is an international relations' analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.

WaykiChain is a blockchain-based gambling platform that supports Turing devices. Other highlights include the fact that it makes use of a DPoS (Delegated Proof-of-Stake) consensus mechanism, that it generates a new block every ten seconds, and that it uses eleven voting nodes. According to the team behind the Hong Kong-based project, the network is also capable of handling 1000+ transactions per second.  

The platform’s main goal is to offer users a stable and secure gambling environment. Thanks to its decentralized nature, it means that the system is also a lot less prone to corruption or other types of illicit profits usually associated with this type of industry. For example, because the WaykiChain is a decentralized platform, the data cannot be controlled by any party of interest. It also means that it can’t be altered in order to provide false betting results.

Another advantage besides the obvious transparency is the lower operational costs, with no third-party commission fees and with a 99% rate of return. This makes the platform very open to new investors and users; anyone can use the WaykiChain infrastructure to build powerful, blockchain applications.

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Applications

Considering everything that’s been said, WaykiChain is a versatile platform for app development. Even though it can be used to build a varied array of different apps on top of, the platform is mostly aimed at developing betting applications (sports betting and events betting). The team behind the project has already built an official Windows decentralized application dubbed WaykiChain Betting which acts as a wallet. Users can use WaykiChain Betting to transfer their WICC funds and also to swiftly publish the betting smart contract.

The project’s whitepaper also announces that iOS and Android applications are currently in the works and are soon to arrive somewhere in the second half of 2018. These apps will provide users with the possibility of conveniently storing Wayki coins on their mobile terminals.

The block browser is a dApp specially developed for WaykiChain and it has the role of displaying the transfer records of Wayki coins and super-coins, as well as the balance of the account, all ongoing betting transactions, and drawing results. All the data is irreversible by nature, open, and transparent.

app

How does WaykiChain work

WaykiChain uses a DPoS consensus mechanism with eleven accounting nodes. The annual rate of return is 5% for the first year, with a 1% increase with every year that goes by. Each time a block is created, an accounting node is randomly associated. The accounting node gains all of the transaction fees in its accounting block. Users can earn interest by locking WaykiChain coins. The interest is automatically determined each time the votes for the corresponding user account change.

The terms of betting are triggered by the initiator through smart contract transactions. Users can initiate various betting contract transactions, all of which can be searched and identified in the block browsers. When the betting is over, the bet initiation will publish the final results and the gaining will be then shared accordingly. In short, the betting bonus is automatically issued to the user’s wallet after the betting results are displayed.

The smart contract provided by the platform makes it possible for asset initiations to create dividend sharing rules. These rules are only triggered by various conditions. Hence, the final price of the assets in circulation will be determined by the market’s behavior towards the object in the transaction.

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How to Buy WaykiChain?

In order to buy WaykiChain (WICC), you will have to first buy some BTC or ETH (the highest volume trading pairs) from an exchange that accepts them. Then, you will have to find a marketplace that sells WICC in exchange for the aforementioned cryptocurrencies.

When it comes to storing your WICC coins, it’s recommended that you use the official WICC wallet. Even though the selection of exchanges from where you can buy WaykiChain is not extensive, there are a few valid options such as Huobi, BCEX, ChaoEX, and Hotbit. For more information on this matter, you can visit CoinMarketCap.

Team

The team’s main goal is to make the whole WaykiChain online betting platform operational before the 2018 World Cup that is set to take place in Russia between 14 June and 15 July. The team is comprised out of forty individuals with relevant experience in marketing, business, betting, lottery, gambling and crypto industries.

Wayki Sun is the enterprise’s Chief Strategic Officer and also one of the earliest investors with more than ten years of experience in financial and Internet industries. Responsible for WaykiChain’s strategic planning and management is Valentina Chai, former senior manager at a famous Chinese security company.

With a deep understanding of commercial operation models, and a complete financial knowledge, Tony Chau, Chief Operation Officer, is yet another experienced team member.

The team has also created a non-profit corporation, the WaykiChain Foundation. The foundation’s main goal is to store, use, and allocate funds for the project.

team

Price Prediction

WaykiChain had a very incredible year. Its price in dollars and in BTC substantially increased. This is quite impressive because the cryptocurrency market has been in a bear trend. WaykiChain shows that providing a good project and without wind tail, it is also possible to prosper in the cryptocurrency market.

At the beginning of February, this virtual currency was traded around $0.27. When May started, its price skyrocketed up to $2.4 dollars! Moreover, its price compared to BTC has also been growing.

It is possible that in the short term the virtual currency will be operating stable. But as the cryptocurrency has not been for so long time in the market, we cannot guess how much it can grow. It has an important potential that if exploited properly, it can reach important price levels.

Conclusion

Even though it’s not a very popular project in the cryptosphere at the current moment, WaykiChain has the potential to expand its reach and spark the interest of people due to its decentralized gambling platform. The timing is also a very fortunate one, as the team seems to have everything in place before the start of the 2018 FIFA World Cup.

The project has a powerful dApp associated to its name. The WaykiChain Betting provides its users with real-time betting possibilities, in a transparent and open way. All the betting data is public, searchable, well organized, and cannot be changed or affected by any third-party interests. Any potential illegal actions can be, therefore, easily discovered.

WaykiChain Contacts and Additional information:

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