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For the everyday consumer, cryptocurrencies and blockchains are still shrouded in mystery. Hard-to-understand user interfaces are an important barrier to entry, with slow transaction speeds that frustrate open-minded people trying to use technology for the first time.
An imminent network of blockchain states that change is desperately needed if cryptography reaches its full potential and will enjoy mass adoption. The World Open Network (WON) aims to offer products and services focused on users, with intuitive front-end systems that can be easily understood without any technical know-how.
According to WON, this is not the only obstacle that the industry faces if it has any chance of becoming mainstream. Continuing titles on massive amounts of stolen encryption have further undermined consumer confidence. WON also believes that decentralization – an important strength for many companies linked to the blockchain – has allowed illegal activities to be carried out and "trade in dubious products and services facilitated".
A force for good
WON states that its goal is to create a global community that encourages "diversity, innovation and sustainable growth" – and move industry from a "vicious circle" in which greed dominates.
His website says: "WON inspires and encourages people to take valuable actions and make decisions that support social responsibility. […] The time has come for the emergence of a case of real use and a cryptocurrency platform that promotes positive behavior and rewards positive impacts on the world. "
One of WON's main concerns is the environmental impact that cryptocurrency extraction has on the world. For the extraction of Bitcoin, more than 47 terawatt hours are needed every year. In a recent Cointelegraph article, Alex De Vries, a blockchain specialist who has written research papers on Bitcoin's growing energy problem, warned that the scale of resources consumed does not help the world achieve its climate goals.
The platform's cryptocurrency is also paramount, helping to move the accent away from the miners. Instead of rewarding developers with crypto, WON says it encourages third-party developers to create their own currencies.
WON states that it aims to balance responsibility and privacy by encrypting the personal data of its users, which will be disclosed only in specific circumstances outlined in its privacy policy, such as when fraud is investigated or to comply with the laws and regulations of a nation. The company states that the activity on its blockchain will enjoy similar levels of anonymity compared to other blockchains, with one fundamental difference being the network being able to identify an account holder if necessary. The platform emphasizes that personal data will not be used for purposes other than those described in its privacy policy.
An open blockchain
WON says his open blockchain, known as WOB, has the ability to support "millions of transactions per second and millions of DApps". This is probably a breath of fresh air for people who are fed up with congested networks where there are immense delays before the transactions are completed.
To this is added the WON platform, where third-party developers can create software for the benefit of the public. In the first phase, game developers will be able to cast their own titles in addition to their own "Developer Coin" currencies, which WON calls Genesis. These coins allow players to make purchases within a game and allow developers to collect resources from the WON platform to increase productivity and incentive. Top Games Inc., known for producing "Evony: The King & # 39; s Return," will be the first third-party developer to launch a coin – and this will be timed so that the network coincides with the live. In addition, a wallet will be made available to consumers on the Apple App Store and Google Play for Android devices. In some jurisdictions, users will be able to exchange crypts for legal currencies via WON.
The company has already accumulated 50 team members worldwide and has recruited a "senior team" based in Silicon Valley.
WON says that its product is ready for use at launch, with digital resources that users can purchase, store and use immediately. In the beginning, it hopes to attract thousands of long-term owners to help the platform thrive.
Liability exclusion. Cointelegraph does not endorse any content or product on this page. While we aim to provide you with all the important information we could obtain, readers should do their own research before taking any action related to the company and bring full responsibility for their decisions, nor can this article be considered as an investment advice.
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