1. Introduction
WaykiChain focuses on the research and development of the underlying core technologies of the blockchain and the corresponding ecological technologies and related project operations, and its self-developed third-generation blockchain commercial public chain is leading the industry It has high-performance transaction processing capabilities (TPS 3300), efficient consensus mechanism (DPoS+pBFT), powerful smart contract engine (Lua+WASM), and blockchain ecological decentralized governance capabilities, which can provide services for major industries and important Vertical fields provide blockchain infrastructure service facilities and industry-level solutions.
2. Project introduction
WaykiChain makes full use of and exerts the features and advantages of decentralization, immutability, fairness and justice of blockchain technology to realize new business in the new era The construction and development of the model will completely subvert the existing multi-trillion-dollar traditional guessing game industry, traditional asset trading platform, and traditional foreign exchange market acceptance industry. Committed to building a third-generation blockchain underlying system with new and powerful technological features based on Bitcoin and Ethereum, WaykiChain aims to provide enterprise-level blockchain infrastructure and industry solutions, so as to ultimately build an independent and Self-sufficient business ecosystem.
Project features
Smart contracts:
WaykiChain is a Turing-complete smart contract platform, using the DPOS consensus mechanism, with a total of 11 voting nodes , a new block is generated every 10 seconds. After verification of WaykiChain mainnet operation, the transaction confirmation speed can reach 1000+tps.
Voting mechanism:
WaykiChain adopts the DPOS consensus mechanism. Users lock the Waykicoin they hold to have corresponding votes. Each vote can select up to 11 candidates to participate in Users who vote can get corresponding voting benefits.
Sidechain technology:
WaykiChain will adopt a sidechain architecture, each application will have its own independent sidechain, and application data will be independent of each other and not affect each other. The application side chain can define its own consensus mechanism, side chain assets and protocols such as block interval. When the user decides to use an application, the user only needs to download the side chain data of the application.
Technical overview
Consensus mechanism:
WaykiChain adopts DPoS+BFT consensus mechanism, taking into account the overall performance and consensus efficiency. A total of 11 super nodes are set up to be elected by voting, and a new block is generated every 3 seconds. The stress test of the latest version of WaykiChain Pig King proves that WaykiChain's transaction capacity has reached an average value of 3300+TPS and a peak value of 7800+TPS.
Cross-chain technology:
WaykiChain will support heterogeneous decentralized atomic cross-chain technology for well-known public chains such as Bitcoin and Ethereum, and support multiple WaykiChains at the same time The core and timely isomorphic sub-chains in the ecosystem (such as DEX high-frequency sub-chains). The industry-level applications targeted by WaykiChain will also have independent sub-chains built on WaykiChain. Application data are independent of each other and do not affect each other. The application side chain can define its own consensus mechanism, side chain assets and protocols such as block interval.
DEX:
An efficient decentralized trading platform built on the bottom layer of WaykiChain, which supports the entire process of placing orders, matching and settlement on the chain. And all transactions are recorded on the face, resulting in a complete and auditable transaction ledger. In addition, all kinds of encrypted assets issued on WaykiChain can be traded on DEX.
CDP:
Anyone can use the Collateralized Debt Positions (Collateralized Debt Positions) provided at the bottom of WaykiChain to mortgage the digital assets held on the chain to generate fiat currencies such as peg U.S. dollars stablecoin assets. At the same time, a decentralized price feeder, a built-in exchange on the chain, a clearing system and a dual risk protection mechanism are set up to ensure the relative stability of stablecoins relative to fiat currencies.
Dual virtual machines:
The bottom layer of WaykiChain provides dual-engine technology for smart contracts to achieve Turing-complete computing power: LuaVM+WASM VM. As a lightweight and compact scripting language, Lua enables DAPP developers to quickly develop contracts. WASM VM is a powerful and efficient virtual machine that supports multiple programming languages, allowing developers to implement various advanced DAPPs with rich and powerful functions.
3. Comments
WaykiChain will greatly expand the breadth and depth of blockchain applications. The pain points of the traditional industry are very obvious, restricting its further development. Take the target industry as an example. Traditional quiz platforms have the following industry pain points: credit problems, high commissions, and lack of product types. Centralized asset exchanges: security issues, unfairness, and high transaction fees. International remittances and foreign exchange transactions: long settlement times, exchange rate risk, opacity, and high transaction fees. The decentralized application built on WaykiChain system inherits the characteristics and advantages of blockchain technology. It will perfectly solve the unreasonable aspects of the target industry and promote the healthy development of the target industry.
As the third-generation blockchain underlying system, WaykiChain perfectly inherits the characteristics and advantages of the traditional blockchain ecosystem technology, and truly realizes the combination of blockchain and commercial applications, thereby greatly enhancing the Enhance the value of traditional industries and promote the vigorous development of blockchain technology in all walks of life.
