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Braggi

WDC 2016: What to expect?

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Introduction

It is very important that our supporters know what our goals are and how we are going to fulfill them in 2016, for this purpose we will divide this report in four sections: Development, Management, Value and Strategy with a brief summary of what was accomplished the previous year.

  1. Development

1.1. Brief analysis of 2014 and 2015

1.1.1. 2014 was a lost year from the development point of view, very few advancements were made because new committee was busy picking up the pieces after the Scharmbeck fiasco. Even that WDC lost most of its community and value, somehow the team endured and kept the project alive.

1.1.2. 2015 begun with some signs of development with new releases, these releases were more focused on building the server side of our cloud offerings (mandatory in our new strategy for the coming years) so users couldn’t notice too much progress directly. On March the server was complete (v1) and it offered 2 services: Automatic update (v1) and block chain download.

Client side (wallet) we added the installer which took advantage of server’s offering in a rudimentary way, the client was still carrying old code baggage and it wasn’t working as good as it should. As part of the new strategy, instead of trying to fix old code we decided to keep the code that we knew was working flawlessly (the daemon which handles block chain related stuff) and rework from scratch the user interface and the API offered to potential new developers. This product would be called WBC (Worldcoin Business Center) highlighting the complete departure from standard Qt wallet that most coins offer.

On April code efforts started  culminating with WBC 2.0.0 release in November, impressively very few bugs where reported, none of them critical thanks to our committed testing team; the next version (2.0.1) was released a few weeks later fixing all known issues at the time, it’s main purpose was to test the brand new framework design and its ability to handle new components and functionality in a very easy and straightforward way, the framework design proved to be very solid.

It is important to notice that we have only one reported issue to fix which shows with some few configurations involving graphics drivers, especially on Windows 10 machines. The reason is that we are theonly ones that use graphics card to render all elements of WBC (using OpenGL 2.1) freeing resources from the CPU to handle transaction validation more efficiently. This practice should be applied with any new software produced to optimize the resource usage of your system; every graphics card produced since 10 years ago should be capable of using OpenGL 2.1 (even integrated ones like Intel).

Also on December, the first WDC ATM  was launched in Slovakia thanks to our friends at Cryptodiggersculminating a heavily work loaded multi-month effort.

On December 2014 we had approximately 60 active users (defined as unique IP’s that are actively upgrading the software i.e. using WorldcoinBC series), as of January 2016 our user base has grown into1600+ active users and it’s growing.

1.2. 2016

This is the first year that we will be able to focus most of our efforts and resources where it matters: code.

As previously stated, the framework we developed is in very good shape so this year we will be able to start showing it’s true potential, our framework finally enables us to assert that we are not a copycat, we produce new technology. We will be able to demonstrate that WDC is unique and has features not seen in any coin. What probably is more important is that even that WBC is and always will be open source, the killer features planned for this year will be very difficult to copycat making WDC more unique and in its own league. You will understand why when we release them (take a look at our release schedule)

All releases planned for 2016 will maintain full compatibility with previous ones in order to assure smooth transitions for exchanges, pools and late supporters out there.

2. Management

2.1 Assets

2015 was the year that we finally managed to have total control of our assets.

As some of us have our own companies, we are financially secure and we don’t need short term gains, ICO nor IPO to support our activities, therefore server billings, domains, development, etc. are completely secured for years to come.

2.2 Official status

This year we can proudly say that we also attained official status and address in Singapore (more details to follow soon). Singapore was chosen because it is very crypto friendly and is considered by many as a business world center, also we have one supporter living there that helped with the legal procedures.

2.3 What is exactly Worldcoin Global?

There is too much confusion and FUD on what exactly our role is with respect to WDC.

For starters Worldcoin Global doesn’t own WDC as a whole, we are just a team that has a vision with predefined goals.

This means that we don’t have any obligation to implement absolutely every idea that is sent to us.

If people doesn’t like our vision and/or plans then he/she can assemble their own team implementing whatever he/she feels like and we should coordinate between teams to avoid forks and pain to our investors, that is how open source truly should work. The final result could be many different wallets supporting the same block chain which is beneficial to all users.

3. Value

** For the purposes of this report we will use the terms ‘price’ and ‘value’ seemingly

3.1. 2015 Brief price analysis

We will use the chart of BTC38 (China) that is by far the biggest market for WDC and also because it’s a true indicator of WDC/FIAT value.

Price2015

The first segment at the left shows the first price bottom that we finally reached after a full year of continuous brutal devaluation, where WDC lost more than 99% of its value. This bottom has an approx. average of 0.022 yuan (0.0035 USD approx.) and ends the first weeks of May.

The second segment represents a violent bullish spike with good volume, probably responding to the delivery of concrete plans of new Worldcoin Business Center that was being developed. It ended in August after a big correction.

The third segment shows a period of stability with decent volume and sporadic mini spikes that ended the first week of 2016. This period is very important because it shows that a new bottom has formed around 0.038 yuan (0.0058 USD approx.) implying that the devaluation is officially over and all technical indicators point to higher new bottoms in the future.

3.2. Current trend

In the past days a new spike is being formed with great volume! (20 million coins traded, approx. 19% of total coins in existence just in BTC38). We do not pay too much attention to short term spikes but only to long term trends, and happily for WDC investors 2016 seems that will be a good year for winnings. Considering that in 2015 we released new wallet in November with nothing to show in previous months, just plans, the price held very well. This year, new continuous real innovations will necessarily lead to new higher bottoms, in May (2nd release for this year that will contain our first planned killer feature) will allow us to reach directly to a complete BIG new set of potential investors. (hint: BTC and LTC users)

  1. Strategy

The strategy consists in innovating with technology that the final user can see and experience directly.

All this implies that we will resume re basing BTC’s block chain technology at some point in the future with only the necessary modifications to support WDC. This will allow us to take advantage of BTC’s quality assurance process which absolutely no coin can surpass, making WDC’s block chain extremely stable and dependable. From the user point of view we will develop tens of components and functionality unique to WDC.

Some supporters will assert that PoW is a dead technology and the future is PoS + something but in practice we know that PoS, DPoS etc generate their own set of problems and none of them are proved to scale as good as theory states, what’s more no coin which started to use these technologies, have shown growth in value after one or two years after initial launch; if you don’t believe us, just check top 30 coins  that use these schemes, all of them declined in value after one or two years  in the market (except one that has forged an unrelated partnership); the main reason for this is that investors bet heavily when these coins launch and after a couple of years they start selling because the interest keeps going down, so the buying pressure slowly decreases with time. Only a few PoW coins were the only ones that managed to show growth after a few years.

This doesn’t mean that we think PoS + something is a bad technology it just means that until it is proven to scale and adopted by companies we won’t invest time and resources changing scheme for the time being.

Another thing that PoW doomers don’t take into account is that PoW is the only technology that has managed to create a real industry around it (ASICS) and this won’t die easily, BTC and LTC growth is living proof of this assertion. No other technology was able to create a real industry around it.

Having said that, we know that bare PoW is not the ultimate solution and probably in the future we will change the scheme when current issues start to bite (scaling for example), but we will wait until a proven solution heavily backed by big and serious organizations arrives; in this regard OpenLedger (backed by IBM, Cisco and other companies) seems very promising. Meanwhile we will keep making progress on technology that users will be able to experience without too steep learning curve. Also thanks to our auto update tool and to the complete separation of functional layers in WBC, we are in the unique position to offer the smoothest transition process when a hard fork is required in the future. In other words we are preparing actively for the moment that changing block chain technology becomes necessary, so we could transition as painlessly as possible without changing anything from the user experience point of view.

5. Final words

Absolutely nobody knows the final shape that the ultimate successful cryptocurrency will look like, smart money will definitely hedge their investments in many technologies that show unique features WDC will be one of them, the ability to adapt to changes will prove crucial for a coin to survive in the coming years and WBC is prepared for this future that will prove brutal and devastating for most projects out there, even for BTC if they do not manage to adapt to new requirements.

To conclude this report an extremely compressed summary of the message we managed to transmit to crypto sphere in 2015 and the one that we are targeting for 2016

2015: WE ARE ALIVE!

2016: WE ARE RELEVANT!

By. Berzeck

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4 minutes ago, macnulty said:

Just if anyone wonders, this was originally posted in January 2016.

 

Ahh yes forgot to mention that, just put it on here so people could post there thoughts on the matter.

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