DApps that pay is a series of articles that explores blockchain-enabled applications that pay dividends to their token holders. Contrary to the claims of mass media, blockchain-enabled businesses do make money.
Developers and community members can join the WaykiChain dev portal to share $50,000.
Free STEEM details at end of article.
One of the greatest competitive advantages of a startup is its ability to be highly nimble. Established firms become so deep-rooted in their profitable operations that a change of product facilitation isn’t just intimidating, but often an impossible deliverable.
A startup in the blockchain industry, WaykiChain, recently underwent an overhaul of its functioning strategy. WaykiChain spent 2018 aiming to establish itself as the optimal blockchain for the development of prediction markets and gaming DApps.
While the platform was able to acquire a large user base in the targeted industry, it recognized that blockchain technology has the ability to sweep various industries. Thus, WaykiChain has transformed its underlying technology to offer a generalized public blockchain for the smart economy.
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Being a specialized a blockchain gave WaykiChain a competitive advantage as it was the only dedicated public chain for prediction markets. However, given that blockchain technology is in a nascent stage, opportunities are plentiful and any public chain that can sustain complex smart contract can become a platform that supports the creation of smart DApps in multiple industries.
WaykiChain will now be a public chain that supports smart contract-enabled decentralized applications of all kinds. To kick off this shift, the project has announced a $50,000 bounty program for developers with individual prizes as high as $25,000 in liquid payments.
The Evolution of a Public Chain
Bblockchain DApps can certainly drive a revenue. WaykiChain’s existing infrastructure is comprised of 2 DApps: WaykiBet and WaykiTimes, and these DApps drive a revenue that is distributed to the community members that participate in WICC locks. Some of the past payouts have been worth more than 80% of token value at the time of dividend.
During this bear market, most blockchain businesses are laying off workers. Even highly profitable operations like Huobi Global laid off a considerable portion of their workforce; this signals that, even though the exchange plays a major role in the blockchain space, its executives are heavily bearish on the outlook of this technology and its core community.
WaykiChain, on the other hand, is heavily bullish, and it is this type of spirit that is needed to drive the blockchain space forward.
While many blockchain projects are shying away from growth prospects, WaykiChain has decided to expand its position in the blockchain space by expanding its public chain’s capabilities. The new infrastructure can support DApps better than the current leading public chains as it can sustain a throughput of over 1,000 transactions per second.
Moreover, the platform’s existing community provides a large user base that is readily available for new applications built on the chain.
With access to an existing revenue source through its existing DApps, WaykiChain will power a new vision: core team is going to be doubled, and the marketing budget is going to be tripled. Much of the marketing budget will be allocated to incentive programs for the community. In fact, the project is offering up to $500/week to community members who support the community Telegram and attract developers. Content promotion projects are also being launched.
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As the project recognizes that true growth will come from the community, the core team will focus on improving the public chain. Meanwhile, community developers who will utilize the platform to launch DApps will be given as much as $25,000 per DApp.
While the typical approach in the blockchain space has to build decentralized networks from the get-go, WaykiChain went with the strategy of launching initial DApps through its core team. This strategy has been successful as it gives developers an opportunity to rely on an existing development format to ease the work that goes into development of a new DApp.
Moreover, since the platform relies on a delegated proof of stake (DPos) consensus, like STEEM, developers have the opportunity to acquire community trust and establish their own block-producing nodes.
Thus, WaykiChain has chosen to pursue gradual decentralization. Now that the platform has an established user base, functional DApps that drive a genuine revenue for the token economy, and a strengthening public chain, WaykiChain’s founding team is exerting effort to pass on the reigns entirely in the hands of the community.
Since decentralized networks are such a novel concept, a gradual move into the creation of a DAO is a good strategy.
Possibilities of a Public Chain
Any public chain that can support complex smart contracts and sustain over a 1,000 transactions per second, can enable the smart economy of the future.
The opportunity at hand covers everything an endless amounts of utilities:
Supply ChainsGlobal supply chain and delivery networks rely on transactions, operations, and data flow that is controlled and managed by a few hands that serve as little more than middlemen. A verifiable public chain with transactional proofs can help remove middlemen in the supply chain market.
Decentralized MarketplacesApplications like Uber and Airbnb may have decentralized their respective markets but the applications themselves have become major middlemen.
A public blockchain that integrates smart contracts can nullify the need for such middlemen and make the decentralized economies more efficient.
GamesWaykiChain has already shown that the gaming industry can run on the blockchain. The platform’s gaming DApp has over 130,000 downloads and its community is growing every day. A few major companies control the gaming market and blockchain technology can change this.
Everything that involves transactions, escrows, or trust can be decentralized by a smart contract-based public chain.
Even in this bear market, WaykiChain is confident that blockchain technology can deliver these solutions and it is now incentivizing its community with rewards as high as $25,000 per DApp to create to the solutions.
Best part is that the developers will be the creators of the DApp and WaykiChain will give the $25,000 simply as a bonus.
Join WaykiChain Chat:
Ask how you can get $500/week.
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I will use @tipu to send a public and verifiable transfer of 1 Free STEEM to you.
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Developer and Bounty Portal: http://bit.ly/WICCdev
Community Telegram: https://t.me/wiccofficial
Developer Telegram: https://t.me/waykichaindeveng
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