pBlockchain business application pioneer nbsp;1 WAYKICHAIN WHITE PAPER Apr. 2018 nbsp;Blockchain business application pioneer nbsp;2 Contents Extract ............................................................................................................................ 3 Part I Design ideas of WaykiChain ................................................................................ 5 1.1 Development and value of blockchain .............................................................. 5 1.2 Design principles and implication of WaykiChain ........................................... 6 Part II WaykiChain technological solutions ................................................................... 8 2.1 Smart contract ................................................................................................... 8 2.2 Voting mechanism ............................................................................................. 8 2.3 WaykiChain applications .................................................................................. 8 2.4 Sidechain technology nbsp;2.5 Whole node wallet ............................................................................................ 9 2.6 Mobile terminal ............................................................................................... 10 2.7 Block browser ................................................................................................. 10 Part III Application industry application outlook and realization scenarios ................ 11 3.1 Global decentralized betting application ........................................................ 11 3.1.1 Pain points of global betting industry ................................................... 11 3.1.2 Business solutions for decentralized betting games.............................. 12 3.2 Global decentralized assets transaction application ........................................ 14 3.2.1 Pain points in the global centralized assets exchange ........................... 14 3.2.2 Business solutions of decentralized assets transactions ........................ 15 3.3 Settlement time of international remittance and forex .................................... 17 3.3.1 Pain points of global cross-border remittance and forex ...................... 17 3.3.2 Decentralized forex business solution .................................................. 19 3.4 Construction of the blockchain eco-system .................................................... 20 Part IV WaykiChain Foundation .................................................................................. 21 4.1 Establishment of WaykiChain Foundation ..................................................... 21 4.2 The team of WaykiChain Foundation ............................................................. 21 4.3 HR management of WaykiChain Foundation ................................................. 25 4.4 Legal compliance of WaykiChain Foundation ................................................ 26 Part V WaykiChain39;s planning and vision .................................................................... 27 5.1 Purpose and management of Waykicoins ....................................................... 27 5.1.1 Purpose of Waykicoins .......................................................................... 27 5.1.2 Attributes statements of Waykicoins ..................................................... 27 5.1.3 Allocation plan for Waykicoins ............................................................. 27 5.2 Milestones and future visions for WaykiChain ............................................... 28 nbsp;Blockchain business application pioneer nbsp;3 Extract WaykiChain is a brand new and powerful underlying system of Blockchain 3.0 based on Bitcoin and Ethereum. It is committed to provide enterprise-level blockchain infrastructure and industry solutions. By fully integrating the characteristics of the distributed ledger, distributed database, smart contract, programmable digital currency, as well as the value transfer protocol, WaykiChain will help to build and develop a new business model which belongs to the ination society and is totally different from that in the industrial society, and thus will thoroughly subvert three traditional industries worthy of hundreds billions of dollars, including the financial industry in terms of the assets trading and distribution , the foreign currency exchange market in terms of the acceptance and the betting industry in terms of the old and tedious business model. nbsp;Thanks to the developing and innovating blockchain technology, widely used business applications and proper governance, WaykiChain has core competitive advantages in the following fields nbsp;◆ nbsp;Technology WaykiChain has a mature and powerful technology team which has not only accumulated resourceful nbsp;industrial and technological experiences in many sectors including finance, entertainment and IT, etc., but also achieved pioneering breakthroughs in R amp; D and the application of the blockchain technology. nbsp;◆ Target industry resources WaykiChain team is built upon on not only blockchain technology expertise, but also on experienced professionals who come from target traditional industries. Moreover, WaykiChain team has built strategic relationships with target industry firms, which will provide support for the application of WaykiChain. nbsp;◆ nbsp;Business governance unlike common public blockchains, WaykiChain has a clear and accurate strategy towards target industries. Thanks to the characteristics of the blockchain technology, such as the distributed decentralization, irreversibility, encrypted security as well as the point-to-point value transfer, WaykiChain will professionally and persistently permeate into the target industries and gain market shares in a fast way. nbsp;◆ nbsp;Funds management in terms of fund management, WaykiChain will primarily develop itself following the strict principles of fairness, justness and openness. WaykiChain Team will safeguard WaykiChain development fund in the specially established WaykiChain Fund, promising the security and sustainability of the fund. In order to guarantee the openness of fund’s use, all fund allocation in WaykiChain project will be disclosed to all investors on nbsp;regular basis. nbsp;◆ nbsp;Market potential every WaykiChain’s targeted industry is worthy trillions of dollars . According to conservative estimation, in 2017, the market value of the sports betting industry reached USD 1.3 trillion. And the sports betting industry is just the first industry which will be subverted by WaykiChain nbsp;◆ nbsp;Sustainable growth by building up a perfect governance structure, WaykiChain Team has realized effective administration on common procedures, code management, financial management, salary management and privilege operation scope, etc., so as to nbsp; Blockchain business application pioneer nbsp;4 guarantee the sustainable growth of WaykiChain. As the underlying system of blockchain 3.0, WaykiChain has not only flawlessly inherited the characteristics and advantages of the eco-system of the traditional blockchain, but also solved the technological bottleneck of the current blockchain, thus truly integrating the blockchain and business. Moreover, WaykiChain is investing vigorously and continually in the R amp; D and in the nbsp;innovation of the financial technology with focus on blockchain. Based on its latest achievements, WaykiChain has a clear vision to develop “Blockchain ” and to upgrade the value of the traditional industries as well as other industries, nbsp;building up a win-win blockchain Eco-system in the 21st century. WaykiChain blockchain application pioneer WaykiChain has the final interpretations on the white paper. nbsp;Blockchain business application pioneer nbsp;5 Part I Design ideas of WaykiChain 1.1 Development and value of blockchain After more than 40 years of development, internet has brought about new things and new concepts, such as email, network company, social media, mobile network, big data, cloud calculation, internet of things, etc. Internet has drastically reduced the cost relating to searching, coordination and ination exchange, radically lowered the entry threshold in many fields, boosted new media, new entertainment and new retails and finally generated the brand new organizational architecture model as well as the unprecedented digital business model. Thanks to the sensor technology, internet has fully permeated the environment where human beings reside. However, for business and economic activities, simple ination sharing and transmission cannot meet the development of the economic society. When there is no verification ination from the third party nbsp;for example, verification of the transactor39;s identification, qualification, technological capability carried out by banks or government authorities, people cannot rapidly verify the identification of the transactor. These transactors involved cannot establish a relationship of trust which is necessary in economic activities. Therefore, current internet ination sharing and transmission solutions, if not relying on the third party intermediary, cannot realize the function of identity verification, nor can it nbsp;establish a relationship of trust nbsp;between the two economic participants. Huge limitations still exist. It was not until 2008 that Satoshi Nakamoto firstly issued a point-to-point cash system and its infrastructure protocol Bitcoin an Electronic Cash in the Point-to-Point Internet. This digital currency, called “Bitcoin”, can help two transaction parties to build up the bridge of trust to guarantee the completion of the transaction based on intelligent codes without relying on the verification from a third party intermediary. After more than 10 years of development, the blockchain technology behind bitcoin is gradually understood by more and more people, and has undergone continuous development and innovation. Blockchain39;s role in trust is like that of internet in ination. What is mostly absent in internet is the Trust Protocol used to confirm the validity and authenticity of every transaction. The blockchain technology can provide bases to solve such problems, optimizing the approaches and s adopted by people to allow people to deal with trust, security and privacy. Hence, based on its capability to promote transparency and to protect privacy, blockchain connecting Trust, the most profound need for human beings, point the road ahead for a fairer, more efficient and more accessible global financial nbsp;Blockchain business application pioneer nbsp;6 system. The blockchain technology has huge potential, which will bring about great changes for traditional manufacturing, financial sector, government bodies and all human beings. Features and benefits of the blockchain technology a brand new distributed infrastructure architecture and calculation paradigm is established thanks to the block chain digital structure used for data verification and storage, data generation and updating based on the consensus algorithm of the distributed computer node, data transmission and access security guaranteed by cryptography, as well as data programming and operation based on smart contracts consisting of automatic script codes. The blockchain technology will store records in thousands of, or even millions of independent computers, while these computers can work in a coordinated manner, no single entity can control them to alter data and software. Moreover, the blockchain technology can establish the reliable point-to-point trust in the internet, so the value transfer doesn39;t rely on the intermediary. Blockchain discloses ination yet protects privacy, makes collective decisions yet protects the interest of the single entity, which increases the efficiency of value exchange and reduces cost as well. The blockchain technology has gradually become mature, bringing about the business ecologic circle of generation, storage, transaction and application. In the industries covered by the blockchain technology, banking, securities and insurance have gained the biggest share. In the future, the entertainment and media industries powered by the blockchain technology will develop in an accelerating speed, and other industries including medical treatment, internet of things, and supply chain will also see more and more applications of the technology. WaykiChain is committed to the booming development of all industries. Based on the incorporation of the benefits of both bitcoin and ethereum, WaykiChain has built up the enterprise-level blockchain infrastructure by integrating the on-chain and off-chain of the blockchain, and thus ed the third generation blockchain eco-system. In the financial and entertainment sectors, WaykiChain will use the blockchain technology to redefine the traditional concepts including assets, currency, investment and transaction, solving the difficulties of exchange, transaction and transmission of values on the internet such as funds, contracts and digitalized assets, etc. Natural persons and financial organizations can, through the eco-system established by WaykiChain, realize the on-line value transmission and exchange in a highly trusted manner by using the whole set of decentralized mechanism constructed by the blockchain technology. 1.2 Design principles and meanings of WaykiChain Although there are many blockchain plats in the market, and new plats are nbsp; Blockchain business application pioneer nbsp;7 emerging every day. It is rare to see the plat that not only incorporates with the traditional business but also applies in reality, and the terminal application incorporated with the blockchain technology hardly exists. Even bitcoin, which is the earliest one applies in reality, has more collection value than its currency value. Such situations have more or less deviated from the final objective given to the blockchain technology to change the society, or even to nbsp;subvert the current business model. We hope to build up a brand new blockchain Eco-system which will be an option for the internet value transmission protocol in the future and to promote the usability and operability of the whole blockchain industry. This is WaykiChain. Thanks to its leading blockchain technology, WaykiChain will, based on its clear business positioning and strategic plans, firstly permeate into and gain shares of the target markets, such as the betting, assets transaction and foreign currency exchange, etc. After accumulating users39; solid support, WaykiChain will gradually develop a blockchain technology plat incorporated with real business applications. nbsp;Blockchain business application pioneer nbsp;8 Part II WaykiChain technological solutions 2.1 Smart contract WaykiChain is a smart contract plat that supports Turing devices. It adopts DPOS consensus mechanism, sets up 11 voting nodes, and generates a new block e/p