The concept of cryptocurrency and blockchain is gaining recognition in the business world; however, for regular consumers, these emerging technologies are proving to be too difficult to use. Among the major barriers, the complex user interface, slow speed of transaction, and complicated operating procedures are the prominent ones. Hence, these issues need to be addressed if cryptocurrency and blockchain aim to become part of mainstream technology.
World Open Network (WON)
According to the World Open Network (WON), an upcoming blockchain technology network, there is a desperate need of comprehensive change in the cryptocurrencies in order to help its mass adoption and realize its full potential. The network has planned to come up with user-centric products boasting easy-to-use front-end systems for facilitating the adoption of crypto among the users including the ones without any technical know-how. The WON aims to become a leader in providing seamless customer experience and strives to achieve it through its user-friendly products, procedures, and mechanisms.
The WON also foresees that for the crypto to become a part of the mainstream, it has to win the confidence of the customers who are increasingly becoming skeptical about the industry after a number of big scandals involving cheating, fraud, and stealing of cryptos surfaced in the last few years. These scandals have shaken the customers’ confidence and made them wary of the crypto world. According to the network, the very useful decentralized characteristic of the cryptocurrency and blockchain technology has also paved the way for many unscrupulous business activities including the trading of dubious services and products.
The objective of the WON is to create a platform for the global community that will stimulate characteristics like diversity, sustainable growth, and innovation. Besides, it also wants to take the crypto world out from its current state of excessive greed. The official web page of the WON states that the network encourages people to accomplish their social responsibilities by contributing through their valuable actions. It goes on to brand itself by stating that the time has finally come for the emergence of the crypto platform that will promote the positive behavior of the users and even go on to reward their positive impacts on the society and the world.
In terms of sustainability, the WON is looking to contribute effectively in the domain of the environment. We all know that for the cryptocurrency mining, a huge amount of electricity is used. For instance, in order to mine Bitcoin, one requires 47 terawatt-hours/years which are quite on the higher side. The high consumption of electricity in the Bitcoin mining has already been pointed out by a blockchain specialist, Alex De Vries who has warned that high energy resources used during crypto mining is detrimental to the environment and will delay the achievement of climate goals. In order to retain focus on the users instead of miners, the WON will offer pre-mined cryptocurrency. Another innovative strategy adopted by the platform is to encourage the third party developers to develop their own currencies. This will help to eliminate the process where developers are often rewarded with the cryptocurrency.
USPs of WON
Speed and Security
The WON claims that its blockchain network named WOB will be capable of handling “millions of DApps and millions of transactions per second.” If it happens to be true, then WOB will come across as a breath of fresh air among the crop of current networks which are extremely congested and take a lot of time to complete a transaction. The WOB blockchain network will be complemented by the WON as it allows the third-party to develop the software for the benefits of the public. In the very first phase which the WON refers to as Genesis, the developers of the games will be allowed to launch their own titles and “Developer Coin” currencies. The players can use these currencies for making purchases within the game, and this will allow the developers to use the WON’s resources for maximizing incentivization and productivity. The very first third-party developer who will be launching its own coin is the Top Games Inc., the company best known for its game – “Envoy: The King’s Return.” In addition, the WON will launch a mobile wallet for both Apple and Android users which can also be used for exchanging cryptocurrencies for fiat in some selected jurisdictions.
The WON has constituted a strong team of 50 members globally and has also recruited a top- strategic team which will operate from Silicon Valley. The WON claims that once launched; users can use its products immediately as these are ready-to-use in nature. It is hoping that long-term holders will attract towards the platform and help it to thrive in the future.