Waykichain will thoroughly subvert three traditional industries worthy of several hundred billions of dollars, including the financial industry in terms of the assets trading and distribution methods, the foreign currency exchange market in terms of the acceptance method, and the bet industry in terms of the old and tedious business model.
WaykiChain is a smart contract platform that supports Turing devices. It adopts DPOS consensus mechanism, sets up11 voting nodes, and generates a new block every 10 seconds. According to detailed calculation by WaykiChain Team, currently the confirmed transaction speed can reach 1000+tps.
WaykiChain adopts DPOS consensus mechanism with 11 accounting nodes. When every block is generated, one accounting node is elected according to the random perturbation algorithm from the 11 nodes with the most number of votes. Then the accounting node gains all of the transaction handling fees in its accounting block. If the user locks his WaykiChain coins, he may earn the related interests. When the votes of the corresponding user account change, the interests will automatically accrue. According to the design of the system, the annual rate of return is 5% for the first year, and the rate of return will decrease by 1% every year, and finally, the annual rate of return will be fixed at 1% permanently.
WaykiChain decentralized bet application is the first smart contract which is released by WaykiChain Team. In the application, the built-in application bet super-coin will be published. Every term of bet will be triggered by the initiator through the smart contract transaction. During the valid period as stimulated by the contract, the user may initiate the betting contract transaction, and all of the transactions can be searched and traced in the block browser, and can never be revised. All of the super-coins in the betting will be frozen in the smart contract. When a certain term of bet is over, the bet initiator will publish final betting results through the contract transaction. And such results are from official authorities. The smart contract will
issue awards to the correct bet user according to final results.