Rewind to the late 2018. It was a different time for Crypto. It was SCARY. Projects collapsed, the space was seen as a haven for bad actors and some of the largest projects and organizations in the space such as the Ethereum Foundation were teetering on the brink of bankruptcy back then. Despite it all, some of the projects not only survived, but thrived achieving even a bit more than anyone could have ever believed.
WaykiChain CEO Godon Gao: Filter the Noise and Stay Ahead of the Pack
Strategy varies to cope the market. Once in a bullish run,industries may do their utmost against the others for investors through marketing schemes. There,choices to make a difference in a long run certainly reduce the input-output efficiency. Some good projects are sadly buried.Shamefully,the losers raced the winners.
Yet the bear market seemed to be far way to end somehow.For what we do to deal with it,we changed our strategy: focusing on our internal foundation. The warning rough time is actually the best season to polish our sword. It’s the time we improve security, stability, efficiency and convenience of our public chain’s bottom layer. It’s the time we cultivate technology developers, build communities, and build overseas consensus.Rome was not built in a day. We are devoting all our effort.
We are also adjusting the strategies to drive the proper marketing publicity in response to the voices of doubt, such as ‘excessive marketing’ and some rumors like‘doing nothing’.We prefer more effort and resources on project promotion rather than the meaningless and the inefficient marketing.
WICC Keeps Rising: A Clean Hand Wants No Washing
The market rally is certainly one of the reasons. Users corrected their erroneous belief when they witnessing WaykiCahin was still developing steadily. The price of WICC certainly raised.
How You Score WaykiChain team for 2018?
It has been almost a year since I took in charge of the the company . As I may say, I’d give a passing grade. The peaks and valleys in the restless 2018, we were extremely dedicated throughout the violent swings.From nothing to something is really something. The vigorous marketing publicity rocketed communities users to over 300,000 within only a few months. WaykiChain became a star project.I think this part marked good credits.Back then, the bullish market environment has catalyzed the industry development. However, our brand value, project prospect and team technical strength have not caught up with the heating trend. Bubbles exposed ever after. The immaturity tack of our new-born team to the series problem brought some unnecessary troubles.Fortunately, we made it through, and hence, we can summarize the resume experience as a survivor.
As the whole year effort swung the balance of energy and resources in favor of prediction business, our public chain development has been slowed down. But take a look at the reverse side，after a few years to capture the survival of the fittest filtered the minefield of the industry, we’ve got more experience to avoid their failure.Also with our community and business value of prediction,we are capable to promote the public chain development.Our public chain has a much greater chance to be in the line of tier one.
To keep the superior one and eliminate through selection is a nature rule, we should recognize it and summarize the experience, but could not against the objective law.
Team Expanding Instead of Layoffs
The reasons for those mass layoffs certainly involved financial crisis.After unreliable project financing without cashing out in time,the currency price of some projects fell heavily.
The bear market washed out the unreliable speculative projects. Only the pragmatic stands still till the rational industry.Surrounding industries, such as media and exchanges, have also suffered tremendous setbacks due to the chain effect as they indeed profit from the entire blockchain industry.
Our company’s healthy finances allow us to keep the growth independently. Now we are paying more attention to internal infrastructure and adopting long-term investment strategy. The company’s technical talents has expanded four to five times since last year, including the talents of application layer and the public chain development. We are committed to improve technology and products as well as community building.Technology products are expected to double by the end of the year.
WaykiChain DApp Funding Program：A Win-Win-Win Business Model
Our incentive plan is not for hype or simply getting DApps.Our ecosystem co-building program expects “each role on our public chain will be benefit.” We provide resources for developers, hence users can get a good DApp, which also enriches our public chain ecosystem.The three way win-win situation is like the flywheel, a dynamic linkage mechanism that will eventually lead to our ecosystem prosperity.
WaykiChain DApp Funding Program is a developer-friendly program.The original intension is our primary advantage.We don’t intend developers to provide DApps, but we would like to provide developers with help, including: capital, technology, publicity, operation and other aspects.It’s all developer-centric.Secondly, what we provide is long-term support and will conduct continuous promotion through media and other large platforms, not only just limited to our community marketing promotion.
WaykiChain： First Station to Blockchain World
There actually four types of developers:the first type,those who know little about blockchain but with great intention to enter this area; second, those who have some preliminary exploration in the field of blockchain and are willing to improve themselves; third, those individuals who have a relatively thorough foundation on blockchain and hope to develop something on our public chain; fourth, the mature DApp development teams.
WaykiChain could be their first station to enter the blockchain world. We say this to each student joined our Blockchain Preschool： “welcome to the decentralized world!”
WaykiChain Overall Development Strategy 2019
Our development plan for this year focuses on three major parts.One is to open up the business model of course, the other is public chain development, and the last one is global consensus building.
Business Model Open-up:
The business model open-up we expected is to let each role in the ecosystem get the best benefits through the decentralized system.Here, the three main roles I mentioned, include users, developers and the public chain.
Open source enables developers and users to participate in deployment and provides operators with simpler and easier products.WaykiChain provides a technology platform for any operator to reach users for profit.Users can also choose their own games.When users become active on our public chain, WICC will become increasingly popular. It forms a win-win-win situation.
Public chain development
Public chain development is a very complex and huge system, it involves many aspects. The most important is the public chain technology construction. Technology construction can also be divided into four aspects: security, stability, efficiency, and usability.
·Security: it is to ensure the technical security of the entire public chain, including security monitoring, such as black swan event warning and processing mechanism，emergency system and continuous repairing of public chain loopholes.The teams are constantly testing the public chain for vulnerabilities every day.In addition, the company hired a professional code auditor to conduct a comprehensive and detailed code audit of WaykiChain.We also released a reward program for security breaches.Once a bug found, we reward the bug-finder.This needs to be done consistently in a long run.
·Stability: Opening up business model is to let each role on public chain get profit.In addition to constantly optimizing and improving the stability of public chain, we will also set up a 24-hour emergency rescue team later. If there is any problem with the public chain, we will immediately check and repair it to ensure the long and stable operation of the public chain.
·Efficiency: to enhance the efficiency of public chain mainly refers to the improvement of public chain performance, increase of transaction speed, TPS.
·Usability: usability means that developers can easily and quickly access the public chain.Usability includes development usability and functional usability.Development usability refers to the improvement of virtual machines, the improvement of developer tools and documentation, and the easy access of invoking various interfaces.To this,we feature stablecoin.We expect WICC to be designed as stablecoin at the bottom layer of the public chain.Stablecoin is the shortest path on the real asset chain and also the easiest path to understand.Stablecoin can keep the corresponding value of digital currency stable and are more suitable for circulation in application scenarios.With the support of stablecoin, we build a bridge between the physical world and the blockchain world.
A stablecoin is a cryptocurrency designed for price stability, such that it can function as medium of exchange and unit of account as an alternative to fiat currencies. It should generally be as effective for making payments as the RMB, but still exhibit the characteristics of WICC; transaction immutability, censorship resistance and decentralization.
For the general public, the price fluctuations of cryptocurrencies are actually pretty hard to accept.But stablecoins are easier to circulate in application scenarios and are more easily accepted by the public because of their constant value. That‘ s why It can also helps us to make it easier for developers to develop DApps on our public chain.
Through the above four points, we are committed to helping developers more easily develop their own DApps on our public chain and more easily achieve commercial value.
As for consensus building, we will focus on overseas consensus building, the overall digital currency market in China is getting smaller. Now digital currency opportunities are more from overseas. We already have a certain degree of popularity in China, but overseas market is a new world for us. Our overseas market penetration rate is still very small, which means that the overseas input-output ratio will be much higher.The third reason is that at present, the whole digital currency is still affected by the bear market’s downturn. Domestic users and foreign users hold entirly different ideas towards market float. Overseas users concerns more about the project progress and technological innovation. It’s more consistent with our overall strategy.
Difficulties & Challenges? There is always a Solution.
There is always a solution.
At present, the market is still skeptical about whether blockchain is profitable. Our business model lacks experience, so we can only stick to our concept and believe that a fair and transparent business model will always be welcome.Another challenge places at the technical level. Our public chain research and development.We have a complete plan for the technology path, but the barrier we face is a shortage of technical talent in the current bear market.Therefore, we will continued to conduct technological breakthroughs and will pursuit this company’s image to the public to attract talents.
Overseas market expansion is also a challenge.Due to the cultural differences,there are great differences in people’s concerns between domestic market and overseas market.Luckily，our team has many talents are overseas returnees.This could do some help.We are constantly attracting overseas talents, teams and seed users to join us.The greatest two in this world: effort and time.Our team’s exploration of overseas markets and industry knowledge keep stepping forward.
In order to build a tier-one public chain, we recruit excellent technical talents all over around the world, and provide high treatment and welfare for them; Pay attention to talent training, provides them with their own growth space and prospects.We are committed to conduct technological breakthroughs and will pursuit this company’s image to the whole world. As I might say, there is always a Solution.Difficulties and challenges are nothing to stop us from stepping forward.