Bitwinner, also known as BWC, is a global platform that is built on the distributed ledger technology made possible by the blockchain. This platform connects business owners with buyers globally by utilizing the security, transparency, and speed possible with the blockchain. To achieve its purpose, it utilizes Altman Z-score formula, XBRL data, fiat-pegged tokens, and smart contracts. The exchange aims to globalize the market sector, which is currently limited by geographical location. In the process, it hopes to revolutionize the financial sector.
Bitwinner's Main Goal
The aim is to create a platform, which is reliable, secure, and informative for all those that are interested in crypto. It will utilize the blockchain to bring financial services that already exist but powered by the blockchain.
Bitwinner Smart Assets
Smart assets stored on the Bitwinner wallet will have the single purpose of ensuring the easy and safe management of crypto assets. The reason for using blockchain-based smart assets is modular auditability. While a center-based solution would allow the issuer to modify the ledger, it would also interfere with the ability to ensure the history of the ledger is immutable. With Bitwinner, the possibility for atomization, trust mining, and smart contracts, is high. These contracts will have zero or low counterparty risk.
The platform is made up of various technologies, which all work flawlessly together to ensure that everything runs smoothly for the users. This technology includes:
This program can locate, release, and copy Bitwinner coins. The Bitwinner network is based on public key infrastructure with the node being shown as node ID. The node will be used to store both the public and private key. A user can establish and initiate a transaction. The system has incentives in place to ensure that users utilize the same node.
The Multi Hash And Updatable Hash
All hashes in the network are encoded with multi hash. This is a self-describing hash format. The Hash Function has to be used in accordance with specified security measures. This encryption system can also be updated. That means the system will be able to switch to a stronger hash algorithm if the existing Hash Function is not able to meet the strict security requirements.
The Swap Account
This swap account will be used to store the transactions in swapping order. This way, Bitwinnier network can track the history of transactions, thus minimize the risk of fraud. When a connection is established, the bitwinner nodes will be able to share information on accounts. If the information does not match, the account will be deleted. From that point, all the profits and debts will be lost on that account.
Bitwinner Global Retail Trading Exchange Platform
The platform also comes with an in-built exchange. Unlike the centralized exchanges, this exchange has no central point of failure. Thus, it is not likely to suffer from the major hacks that have affected a good number of major crypto exchanges. The main reason people use centralized exchanges is that of the ease of use. However, these exchanges also mean users have to sacrifice security. Bitwinner hopes to solve these issues.