• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
Breaking News: Breaking: Binance Shocks Employees With Sudden Layoffs - What's Next For The Crypto Giant?
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
Bitcoinist.com
No Result
View All Result
Breaking News: Breaking: Binance Shocks Employees With Sudden Layoffs - What's Next For The Crypto Giant?

World Open Network (WON): Reinventing Cryptocurrency and Blockchain Technology for Society

Bitcoinist by Bitcoinist
4 years ago
in Sponsored Article, News, News teaser
0

Reinventing the Wheel

Presently, the developing landscape of the emerging cryptocurrency and blockchain technology scene is dotted with projects targeted at ensuring the economic gains of a few people at the expense of society as a whole. For WON, crypto and blockchain technology, like the Internet can cause a paradigm shift in technological advancement as a whole if channeled to the right application.

Thus, WON wants to create a comprehensive decentralized network that utilizes the technology in a way that creates benefits for all participants without any of the harmful by-products of present-day adoption cases. All of its actions will be based on guidelines developed to ensure both economic and technical motivation.

Apart from pursuing an altruistic agenda, the WON project doesn’t intend to lose sight of the technical aspects of blockchain implementation. Part of this drive is the creation of actual use cases for virtual currencies. WON will encourage third-party application developers and companies to produce useful applications on its platform.

On the whole, WON seeks to position itself as the panacea to the lingering issues plaguing the emerging virtual currency movement. These problems typically center around theft (hacks), unlicensed security token offers, lack of mass adoption, and wastage.

The WON Ecosystem

The project ecosystem contains three critical stakeholders whose interactions contribute to the general community. These stakeholders are WON Inc., community users, and third-party developers (TPD).

Each of these participants plays a vital role in ensuring that the project actualizes its aims and objectives. WON Inc. is responsible for setting the ball rolling by creating one billion WON tokens (Ŵ) and several other functions pertaining to running and securing the cryptocurrency.

Third-party developers enter into service agreements with WON and then create useful dApps. These dApp creators can also produce their local cryptocurrency for use in the dApps – third-party Developer Coin (TPD DC). Community users refer others while also interacting with the plethora of applications on the blockchain thus expanding the project’s network effect.

WON Features

WON is both an open blockchain that can handle millions of transactions per second (WON Open Blockchain – WOB) and a platform for TPD creators to build their dApps (WON Platform). However, unlike other public blockchains, WON incorporates numerous advanced features.

WOB is a Byzantine fault-tolerant proof-of-authority blockchain. It is WOB that is responsible for creating Ŵ. WOB utilizes dynamic sharding and robust know-your-customer (KYC) and anti-money laundering (AML) protocols. There are no ICOs or airdrops on the WOB.

WON combines wallet and converter functionalities to allow both third-party developers and consumers to buy/sell Ŵ cryptocurrency. The platform also features top-of-the-line commercial grade APIs.

WON Tokenomics

Everything begins with the ‘Genesis event’ – the creation of the 1 billion Ŵ which will be owned 100 percent by WON. The project will keep a large part of all pre-mined Ŵ in cold storage and out of circulation for between one to four years.

Ŵ will mainly serve as a medium for transactions among different cryptocurrencies on WON. A small amount of Ŵ will be used as incentive payments to community members. The tokens will also be used as fees for all manner of transactions on the blockchain.

Users can convert all accepted cryptocurrencies to both Ŵ, as well as DC. Depending on the value of Ŵ tokens. An essential part of the WON economic model is to encourage greater utility for third-party dApps on its blockchain platform.

The ‘Community Generation Event’ also creates 100 billion DC for the project’s first TPD, Topgames Inc., who’s behind the game, Evony: The King’s Return. Like with the Genesis event and Ŵ, no more DC will be created for that particular TPD after the community generation event.

DC’s function like the native currency for each TPD environment. Assuming the third-party dApp is a game, players can convert DC to the one they need among themselves and purchase in-game items. Furthermore, not only the players can convert their DC to another Third-Party Developer’s DC through Ŵ which acts as a medium, but also they can withdraw unused DC to fiat in some jurisdictions. Which is believed to be a great incentive for players to top up the game they are playing.

All the while, the flow of DC for each TPD is being tracked, monitoring their respective network effect. This provides a means of determining the popularity of each TPD’s application.

For WON, cryptocurrency and blockchain technology is intended to offer comprehensive technical and social benefits. The project plans to carry out the WON Genesis event at the beginning of year 2019.

What do you think about the WON project’s drive to promote positive value creation thereby reinventing the cryptocurrency and blockchain technology narrative? Please let us know the comment section below.

Download WON

Google Play Store: https://play.google.com/store/apps/details?id=net.worldopennetwork.wallet

App Store: https://itunes.apple.com/us/app/won/id1434638399?l=zh&ls=1&mt=8

The official site: https://www.1won.com/

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Bitcoinist

Bitcoinist

Bitcoinist is the ultimate news and review site for the crypto currency community!

Related Posts

9 Best Cryptocurrency To Invest In Today – Top Coins For 2023

9 Best Cryptocurrency To Invest In Today – Top Coins For 2023

2 days ago
Whale Power Unleashed: Mooky Emerges as the Rival Meme Coin with Massive Profit Potential, Drawing Crypto Whales to Predict 10x Returns for Investors

Whale Power Unleashed: Mooky Emerges as the Rival Meme Coin with Massive Profit Potential, Drawing Crypto Whales to Predict 10x Returns for Investors

3 days ago
Exploring the Meteoric Rise of Mooky: Could It Be the Next Game-Changing Crypto Success Story like Dogecoin (DOGE) and Shiba Inu (SHIB)?

Exploring the Meteoric Rise of Mooky: Could It Be the Next Game-Changing Crypto Success Story like Dogecoin (DOGE) and Shiba Inu (SHIB)?

3 days ago
Discover the Next Big Thing: Mooky.io Presale Boasting Fair Distribution and Community Engagement

Discover the Next Big Thing: Mooky.io Presale Boasting Fair Distribution and Community Engagement

4 days ago
3 Alternative Meme Coins To Dogecoin with long term growth potential

3 Alternative Meme Coins To Dogecoin with long term growth potential

4 days ago
Svenska Casino – Allt om spel hos casinon i Sverige

Svenska Casino – Allt om spel hos casinon i Sverige

4 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Play Finance

Now Trending

  • Whale Power Unleashed: Mooky Emerges as the Rival Meme Coin...

    3 days ago
  • Exploring the Meteoric Rise of Mooky: Could It Be the Next...

    3 days ago
  • Discover the Next Big Thing: Mooky.io Presale Boasting Fair...

    4 days ago

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit
1xBit
1xBit
K8
K8

Press Releases

  • Sphere Financial Inc: Transforming the World of Finance...

    10 hours ago
  • As Whales’ accumulation of Ethereum (ETH) skyrockets...

    10 hours ago
  • Strategic Crypto Investments: 5 Coins to Watch in 2023

    11 hours ago
  • Ethereum (ETH) Holders Eye InQubeta (QUBE) Presale as...

    11 hours ago
  • Why InQubeta’s (QUBE) Innovative Technology Could...

    16 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance

© 2023 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.