W12 - Blockchain Protocol
Hello dear and appreciated community, it is a pleasure to be able to republish an article in this blog which I am sure will help many because this project and your team are excellent.
In this opportunity I want to talk about a project that provides solution to a variety of problems that regularly occur in the world blockchain, I want to introduce W12.
Before starting with the development and explanation of this project I want to show you the problems that W12 has detected and is going to tackle:
1.- SCAM.
The level of fraud in ICO is extremely high and goes up to 81%.
2.- Low survivability rate of startups at early investment stages.
The average survivability rate in the VC market and ICO’s is less than 30%.
3.- Absence of trust between fundraisers and fund givers.
Without trusting one another, in order to settle disputes and make payments, the parties involved are compelled to trust traditional institutes on behalf of the state, and frequently do not have access to alternative solutions.
4.- Utility and Security model imperfections.
5.- Centralized control over fund use and distribution.
W12 with its great team of work has detected the inconveniences before exposed and tries to give solution to the same ones based on the following:
.- W12 will allow anyone to build (without the need for programming) intelligent contracts with the necessary logic.
.- Any type of sale of crowds can be made through the protocol and the W12 platform.
.- You can use any type of decentralized control over the funds.
.- Create a decentralized oracle network developed to confirm the execution of project milestones.
.- The decentralized oracle system will allow an impartial control over the development of the project and will create trust between the partners and those who control the project.
.- In a decentralized and autonomous way W12 wants to organize campaigns of financing of multitudes.
.- Funds will be released gradually after milestone confirmation. if projects fails to deliver on its claims will increase the survivability rate in the industry, provide more control over scam and decrease the risk of losing funds for fund providers.
Once exposed the problems and the solutions that the team of W12 to determined we went on to define how this project is structured.
What is the W12?
It is a decentralized infrastructure in which the parties do not need to trust each other using blockchain technology to ensure transparency and directionality of transactions, intelligent contracts and oracles to ensure control of the implementation of the main stages of the roadmap by the project. W12 includes a mechanism for the creation of CAD and a platform that allows projects to raise funds through the Sale of Sheets without upfront costs or special technical expertise.
The main goal of the service is to increase transparency, increase trust between the parties and reduce risks arising from the financing of projects.
After the end of each stage of the roadmap, the buyer of the tokens can take advantage of the opportunity to return their funds remaining in the project fund (if it considers that the project does not fulfill its obligations). The project funds are issued in parts after the end of the roadmap stage and the time allotted for the return of funds by the buyers of the tokens.
The project can issue tokens independently and sell only part of its tokens using the DAO and W12 protocol. This will allow the W12 platform to cooperate quickly with a large number of projects, thus helping it occupy a large market share.
Mission
To create an environment and a decentralized infrastructure where trust between parties in not necessary in any type of the deal and all controversial issues can be resolved quickly, transparently and rightfully.
Vision
To become the largest global platform that will change the established centralized ways of attracting finance, that are currently limited by geographical and political frameworks. To provide every investor in the world with a decentralized solution that will building a global world future.
The W12 Oracle Network
The W12 Oracles network are accredited individuals from different areas (lawyers, notaries, financial advisors and others) who transmit verified information from the outside world to the blocking chain and act to confirm the execution of programmed scenarios in intelligent contracts.The network creates a system in which the parties do not need to trust each other, dispute resolution occurs more quickly, transparently and economically, providing a wide range of users with easy access to the benefits of blockchain technology.
W12 network oracles aims to create a bridge between the cryptography industry and the traditional economy by integrating our solution into real businesses.
How it works?
Project name: ABC project
The name of the original token of the project: ABC
Name of the secured W-token project: ABC-W
1.- The project fills the roadmap on the W12 platform, sets the settings for the amount and % of funds required for each stage.
2.- The project releases ABC tokens on the W12 platform or transfers some of the ABC tokens issued independently to the smart contract address of the W12 protocol blockchain.
3.- The W12 blockchain protocol produces ABC-W tokens in the amount of ABC tokens received.
4.- Users transfer funds to smart-contract address and receive ABC-W tokens.
5.- The funds are stored in the project DAO fund (smart contract) and are issued to the project to implement the roadmap stages.
6.- By purchasing ABC-W tokens, the user can:
> Exchange ABC-W tokens to ABC tokens via W12 token-changer and, if desired, sell ABC tokens on the exchange (the project can set a period of freezing during which this exchange is prohibited).
> Exchange ABC-W tokens for their own funds remaining in the project fund. The terms of exchange vary depending on the type of DAO.
W12 Main Markets
Charity market
W12 sets out the charity roadmap and the Oracle system as a template for transparent and fraud-proof communication between fundraisers and charities.
W12 approves any charitable campaign to raise charitable missions to the public through modern and high-tech public relations channels. W12 ensures that social entrepreneurs will always be able to raise donations and will always reach their audiences, while fund contributors will be able to receive impact tests and, if not, will be able to safely return their funds.
Crowdfunding
Crowdfunding is a new instrument for mediating financing between investors and borrowers without the intervention of traditional organisations such as banks, in order to oppress project costs and risks for investors. W12 provides a structure similar to the ICO platform that creates a period of search for the funds received by the project and frees them when the milestones are reached.
ICO
ICOs provide an opportunity to help with new ideas and products, enabling projects to raise funds for execution from tens of thousands of token customers around the world. In the W12 ecosystem, ICOs and several other markets can perform more efficiently using self-regulating decentralized structures and peer-to-peer digital contracts.
The development of digital contracts is confirmed by oracles independent of the W12 network. The W12 solution opens the way to a new, free, decentralized world, based on democracy and self-regulation, without borders or political constraints.
The W12 solution includes
The W12 protocol for creation peer-to-peer digital contracts
Digital contracts templates
The W12 decentralized oracle network
The voting and decision-making mechanism
The algorithm for digital contract execution
Utility token sale platform
Charity campaign platform
Security token sale platform (legal framework in development);
The mechanism for diversification of funds into other crypto-currencies and their lock up in smart contracts according to project choice.
W12 Token Sale
What they are for?
W12 Tokens allow users to purchase tokens from other projects using the W12 protocol via the secure token sale model W12 tokens allow you to buy tokens of other projects placed on our platform with a significant discount. This feature will be available in the second version of the platform, it is fully ready and under security audit and will be updated in the near future
Token Emission
Limited to 400 million tokens. Neither mining, nor any other method that allows for an increase in the number of W12 tokens can be applied.
Token W12
Platform Ethereum
Type ERC20
PreICO price1 W12 = 0.0002625 ETH
Price in ICO1 W12 = 0.00035 ETH
BONUS
Pre-sale 33-20%
Crowdsale 15-0%
Tokens for sale 240,000,000
Investment info
Min. investment 1.5 ETH
Accepting LTC, BTC, ETH
Distributed in ICO 60%
Hard cap 22500 ETH
Crowd sale
Start: November 1, 2018 (15:00 Greenwich Mean Time Zone)
End date: December 12, 2018 or when hard cap is reached (whichever is earliest).
Token Distribution
Advantages for participating in the W12 ICO
1.- When purchasing tokens during the ICO, you get a premium expert account, which grants you the ability to receive tokens from hundreds of other ICO projects that have launched their ICOs on the W12 Platform.
2.- Accounts are valid for 2 years. After this period, it will be possible to prolong the premium membership.
3.- 90% of the amount allocated by the startup is distributed among premium accounts. 10% of the tokens are distributed among all other standard accounts.
4.- In order to receive tokens from ICO projects, premium account holders must rate the project in their personal accounts on the W12 Platform.
Conclusion
In the very near future, W12 intends to start using this technology for funding crowds and especially in the charity industries, which currently suffer from a lack of trust between funders and projects in their early stages. W12 has created a totally open protocol for the creation of several types of CAD, and consists of intelligent contracts giving the solution to a market full of ups and downs for the multiple disadvantages that are presenting the investors and entrepreneurs who wish to enter this market.
The W12 solution makes it possible to reconsider the role of the State as arbitrator in the relations between the parties and to alleviate part of this burden from state institutions, transferring it to intelligent contracts and self-regulated decentralized organizations. The implementation of the W12 solution creates the basis for a new decentralized digital economy and is likely to affect some traditional financial and civil law institutions in the immediate future, creating a bridge between the cryptographic industry and the traditional economy by integrating our solution into real businesses.
For more information
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Author: Jesus Nataniel Tillero
My Bitcointalk Profile: @jntillero
My ETH address: 0x4cD4c5a3A28BD6601B9562502a4e8D6B4917A8d3