World Bitcoin WBTC is yet another bitcoin hard fork. Find out what makes this hard fork different from its competitors today in our review.
What is World Bitcoin WBTC?
World Bitcoin, listed under the symbol WBTC, is a bitcoin hard fork launching at block height 503888 on the core bitcoin (BTC) blockchain.
The goal of World Bitcoin is to improve the practical applications of blockchain technology. The website is filled with buzzwords talking about global blockchain applications, for example, and creating value from the internet.
For every 1 bitcoin, there’s a total supply of 100 WBTC – although the math doesn’t quite work out perfectly. There’s a total supply of 2.121 billion WBTC. 21 million WBTC will be managed by the World Bitcoin Foundation, where it will be used to motivate early investors.
There’s no World Bitcoin whitepaper. There’s virtually no information about the project available online – not even at the official website. For all of these reasons, it’s hard to explain much about why World Bitcoin exists or how it works.
Who’s Behind World Bitcoin?
World Bitcoin is being launched by Jackson Zhang (listed as the “Initiator” of the project). The only other listed team members are Jinbo Li and Feng Li, both of whom are listed as “R&D”. The website has no further details about the team members or anyone involved with the project. We don’t know their qualifications, for example, or why they want to launch a bitcoin hard fork.
We can’t find any additional information about these individuals online, and they don’t seem to be prominent members of the crypto community. Based on the shoddiness of the World Bitcoin website in general, we’re assuming these are fake names accompanied by the photos of random Asian businesspeople.
How Does World Bitcoin Work?
What makes World Bitcoin different from bitcoin (BTC) and other bitcoin hard forks?
The website – which is filled with stock images of smiling businesspeople – frequently mentions the importance of creating a valuable ecosystem of blockchain-based apps.
Here are some of the “practical applications” listed on World Bitcoin’s official website:
- “Establish gamification ecological chain”
- “Establish copyright ecological chain”
- “Establish the content distribution ecological chain”
- “Establish blockchain digital e-commerce chain”
- “Establish blockchain network card (CTID)”
The first application is scheduled to launch in June 2018, with the final application launching in December 2019. And no, I don’t understand what any of these applications are or how they might work.
The World Bitcoin website also mentions features like “decentralized ecology”, smart contracts, a consensus mechanism, and a parallel multi-chain. World Bitcoin will have all of these features.
There’s no whitepaper for World Bitcoin, and there’s limited information available online overall. We can’t find any concrete goals, objects, or technical specifications for the project.
World Bitcoin (WBTC) Distribution
WBTC was launched at bitcoin (BTC) block height 503888. That block occurred on January 12, 2018.
There’s a total supply of 2.121 billion WBTC. That number was chosen specifically so that there are 100 WBTC for every 1 BTC in circulation, plus 21 million additional WBTC for the World Bitcoin Foundation.
World Bitcoin WBTC Review Summary
World Bitcoin is a bitcoin hard fork that apparently launched on January 12, 2018. The project has no coherent goals or objectives. The website is a mess of stock images, buzzwords, and broken English. There’s no whitepaper, and the only objectives on the roadmap include goals like “Establish gamified ecological chain” – whatever that means.
Unless more information about World Bitcoin appears online, it’s hard to put any merit into this hard fork. You can learn more about the project by visiting online today at WBTCTeam.org.