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What is WebDollar (WEBD)?
Many of you have probably already heard of WebDollar (WEBD), which is a cryptocurrency that is completely native to the World Wide Web. The cryptography is written entirely in JavaScript, with particular attention to portability, lightness and simplicity .
Its goal is to promote the traditional adoption of criptos. However, to do this, it needs users and supporters of all Internet users. This means a broader expansion that will include more than those who are tech savvy, which is already something that sets it apart from most other currencies. Other cryptos are based on the familiarity of their users with technology, programming languages and in the same way. And, even if there are millions of users that fit this description, it's likely that there are many more.
For this reason, WEBD was created to be as user-friendly as possible and requires no downloads or installations, nor is it necessary for the user to have special accounts or to use complex configurations. In addition, users are offered an automatically created portfolio, which is stored locally. It also allows you to perform simple and practical extraction operations from the WebDollar.io Web site.
What makes it unique?
WEBD is a unique cryptocurrency in many respects, one of the biggest is the use of NiPoPoW (Non-Interactive Proof of Proof of Work) consensus mechanism. This means that transactions are verified without the need to download the blockchain history. Instead, only the most difficult and necessary blocks and tests are needed to separate the honest nodes from the attackers, all in order to keep the blockchain under control.
Put simply, users do not have to download huge amounts of data to successfully extract coins. Instead, they can do it immediately, and practically from any device they want. This is what makes WEBD a currency for the masses, and what makes it its goal to achieve mass adoption in the first place.
The extraction process has completely changed and redesigned through the concept of social mining. This is what was initially conceived as mining. However, once the miners realized they could make a profit by joining the mining pools, the individual extraction rate dropped significantly and even Bitcoin extraction became a bit centralized. Suffice it to say, this is not the goal that Satoshi Nakamoto, creator of Bitcoin, had in mind when he developed this concept and launched the first cryptocurrency. Through WEBD technology, the concept of social mining is coming back and mining can once again be performed by anyone, at any time and via any device.
WEBD is getting this through its hash function called Argon2d, which is resistant to the ASIC and rude to the GPU. This is what makes it different from mining pools, which employ miners to validate transactions as a group and generate large amounts of profit. And while these profits are shared fairly among miners, the process is still controlled by the creator of the pool, which eliminates decentralization.
The Future of WEBD
WEBD technology is, as already mentioned, native of the weeb. As such, it can offer scalable transaction speeds and much better confirmation times. This makes it among the best available and almost ideal as a method of payment for the purchase of goods online. The mining sector is highly transparent and offers a profitable and fair way to make profits without the use of ads.
The team behind the coin plans to launch its MainNet early enough and also provide new off-chain solutions for the level of anonymity, as well as to introduce smart contracts and P2P marketplaces for its users. Those interested in money can learn more by reading their white paper or by checking the Medium page.
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