WaykiChain (WICC) is a smart contract focused blockchain platform that was launched in 2018 by Wayki Sun, Hang Gao, Richard Chen, Xi Zhang and Tony Chau. The founding team envisions WaykiChain as a smart contracts platform that can truly be capable of handling global scale use.
Terming itself as a “third-generation public blockchain”, WaykiChain uses the Delegated Proof-of-Stake (DPoS) to achieve consensus. The team also claims that the network is capable of sustaining an average of 3,200 transactions per second (TPS) with upto 5,400 TPS in actual use.
There are 5 major technical elements in the WaykiChain platform that underpin all of the milestones: the consensus algorithm, the dual virtual machine, Collateralized Debt Positions (CDPs), a decentralized exchange and interoperability.
The DPoS consensus algorithm features an elected delegated system where stakeholders can vote on delegates to secure the system. The dual engine smart contract technology permits programming in several languages. The CDP features allows anyone to pledge their assets into a CDP to generate a stablecoin. Interoperability comes from the network’s support for sidechains, which can work on independent protocols.
Also present is a decentralized application (DApp) funding program, where the team funds developers to build applications on the platform. The team has stated that they provide up to $15,000 in incentives to developers to build DApps.
WaykiChain has much of its efforts in 2019 expanding its ecosystem and its business strategy. Its community platform, WaykiTimes, was also made available several app stores, including Google Play. As for technical milestones, the team released a web wallet plugin and launched the DApp funding program. The mainnet also saw an upgrade.