World Open Network: What to Make of this WON Crypto Project?
World Open Network (WON) is a digital blockchain-based platform that aims at encouraging diversity, innovation, and sustainable growth by reinforcing positive values to the whole world.
With WON, the world is set to achieve a socio-economic cryptocurrency community that will encourage people to do the right things.
Lack Of Mass Adoption
There is self-reinforcement of technology through hype and speculation. This overrides any potential benefits to focus on fringe users and early adopters.
Currently, miners receive first priority with more than 47 terawatt-hours per year. Over half of all mining is done with China powered by coal power plant with an estimate of nearly 44 million tons of carbon dioxide per year. This is done just for BTC and ETH.
It is estimated that more than $1.2B in cryptocurrency have been stolen globally due to concealment of identity and failure to abide by KYC /AML regulations, among other issues. It is, therefore, more difficult, but is not impossible to track an actual person to crimes.
Consumer Protection Avoidance
A report released by CoinMarketCAP shows that more than 1300 tradable digital currencies are in circulation. ICOs framed with SAFT smart contract sell tokens that can or cannot be used for future promotions. This causes issues.
The industry generally seems not to be leading the way to protect end-users and instill customer protection. This is because they are seen by the government bodies as unregistered securities being traded hence taking advantage of sophisticated investors alike.
Solutions Provided By WON
Easy To Adopt
The platform has come up with a user-centric product. It focuses on creating an intuitive and easy-to-use front end UX. This is aimed at ordinary people. The Platform’s INC will give away a wide range W coin to users after passing KYC/AML requirement.
Fast And Secure For Users
The platform will make WOB open-source and free, capable of millions TPS, and mandatory fast KYC /AML written by WOB tract code. KYC /AML is designed with security features that keep away hackers. Users can use their cryptocurrency in any application with only one KYC. This is now possible with only one KYC session.
Fast And Easy For Developers
The platform has developers incentivized with W coin to develop high-quality applications and bring in new users. With WON and WOB developers can now kick off their cryptocurrency commodities and community just by clicking the WOP, which is set to be fast, scalable multi-blockchain open-source software providing easy-to-use financial-grade secure platform API.
Encourages People To Do The Right Things
The platform’s mission is to achieve sustainable growth. It, therefore, puts value back in the hands of ordinary consumers and great developers. This encourages people to do the right things in the community
About WON Products
The WON Open Blockchain: supports millions of transactions and DApps per second. The platform is mainly supported by WOB. It also features KYC/AML, Dynamic sharding, and Byzantine Fault Tolerant Proof-of-stake.
The WON Platform: the platform will have features such as a converter and a mobile wallet. More information on how they will work is on the platform’s website.