WBC research and development team: SMC group's world's top block chain technology team, has strong technical strength.
WBC adopts the SCRYPT core algorithm, the POW distribution mechanism, measures and distributes 200 million pieces, which can effectively prevent deflation. WBC’ s initial offering price is undetermined.
|Chinese name: Zhi Xiang Lian||English name: Wisdom Block Chain||English abbreviation: WBC|
|R & D: SMC group||Core algorithm: scrypt||release date: undetermined|
|Block speed: 60 sec / block||Total circulation: 200 million pieces||Release mechanism: POW|
|Main features: scrypt algorithm, decentralized publishing, constant total amount.|
stand alone many assets of single chain
WBC is a digital asset based on the POW model. POW's asset distribution model allows no interference between all digital assets within the system. It’s security and stability are like bitcoin, which does not include uncertainties such as rollback, branching, error code, and so on.
Real name system access is more secure
Take the financial industry as an example: in the financial industry,use KYC system (know your customer, which is real name checking system for the account holder) to meet the AML (anti-money laundering) is one of the most basic needs. Without real name system, it is impossible for any financial institution to produce digital assets with block chain technology. Any sovereign government can not compromise on assets that cannot be identified, which is also an absolute red line. Central bank supervision of bitcoin also strongly illustrates the problem. In addition, anonymity is the cause of most human crimes. Since Bitcoin comes to the world, there has been full of problems such as loss, hackers, the primary cause is anonymous mechanism. The real name mechanism of WBC will greatly increase the cost of committing criminal acts on WBC. Issue assets on the basis of legal documents publicity by the person with definite legal obligation. In our opinion, for many investors, contracts issued with scripts or formed by replacing natural language with smart contracts issuing asset created a larger cognitive gap. In fact, intelligence contracts which seem fair caused greater asymmetric information. In addition, writing code is not job of financial institutions. The company's financial work is to use legal contract, manage and constrain the ownership of assets, possibility of income, duty, responsibility and profit relations, and form a clear legal document. However, it is unrealistic and impossible for financial companies to have the ability to write stable, intelligent contracts or codes. Therefore, the issue of WBC asset is legal documents publicity of person liable with a clear legal responsibility (transaction signature based on real name address and HASH value, to ensure attribution of the person liable of the legal documents and the integrity of the document). Set up a strict chain of legal evidence for digital assets; any dispute is controlled by legal means.
Private key lost, assets retrieve
When the block chain private key is lost, all the assets are lost, which makes it difficult for the block chain to land. In the process of communicating with financial institutions, this problem has become the largest threshold for block chain to enter the financial sector. As a result, WBC facing financial investment field must support the asset retrieve function after the loss of the private key, otherwise the block chain landing is empty talk. This is also the important reasons for current block chain technology to maintain reliable data transmission between institutions without facing the masses.
Variable time packaging mechanism breaks through the limit of transaction frequency
We use the on-demand packaging mechanism to achieve the purpose of increasing transaction capacity. Packaging on demand is characterized by no package work when there is no transaction. Once there occurs transaction, start packing immediately. This design eliminates the theoretical limit on the frequency of block chain transactions. In the beta phase, the fastest packet interval between WANs is 5 seconds.
Plan of WBC system’s operation system management
WBC operating system consists of two parts: node management and rights management, next they will be described in detail.
1. Node management
WBC’s node management adopts POW mode. The WBC issues self assets by simulating mining way, code name WBC RTS. Specific allocation way is when WBC is not carrying digital assets relying on physical assets or financial assets, WBC will reserve the RTS as a POW reward. When WBC is hung on a digital asset relying on physical assets or financial assets, WBC will take the dividend funds as packaged income, reward package node, to further improve the enthusiasm of users to participate in the POW, so as to improve the stability of node maintenance system.
2. Authority management
WBC itself is a block chain with permission management capability. Authority management of daily operation all carry out through this specially designed privilege management mechanism.
①The restriction of stratification and decentralization
Rights management in vertical stratification. WBC arranges power into levels: the power of this level is only valid for the lower powers, can not stride over. Power restricts each other and avoids a super authority.
② Parallel decentralization management
The power of the same level is controlled by the decentralized management. Any level of power, are not just controlling people. Authorization and the deprivation of the next level are completed by many signatures.
③ Supervision and transparency
WBC’s grant of any power is completely and clearly published in the block chain, supervised by all people; execution any right, in addition to parallel restriction of rights holders, but also need to accept the supervision of the whole network users. With such design, WBC hopes to introduce a tightly controlled and supervised power system in the decentralized block chain system. Through such power system, it can introduce the tremendous power of the professional world, and at the same time, can mechanically avoid the centralization of power and the asymmetry of information.