WONO changes Ethereum blockchain to a private one. What’s next?
Seen the latest crypto news? Unfortunately, the forecasters who predicted that Ethereum exchange rate will get back soon after the summer crisis, were wrong. Current ETH price is around $130 and it continues falling. In such circumstances, in order to protect our customers, we decided to change Ethereum blockchain to a private one. And here’s a brief FAQ:
So the ICO won’t happen?
Certainly, it won’t. In such a situation ICO can’t be used to attract investment anymore. Noone is going to buy tokens for ethers when the exchange rates collapses.
What exactly is a private blockchain?
It is an isolated blockchain with our own coin which has a stable price of $0.5. We will fork the Ethereum blockchain to use all its logic, but coin holders will be isolated from the cryptomarket and won’t be affected by crises, fraud and volatility.
What about smart contracts?
Since WONO’s blockchain will use Ethereum logic, smart contracts will stay in use. Alongside with crowd insurance, crowd arbitrage and all features we announced in our whitepaper.
What will happen to those who took part in Airdrop, Bounty and invested in WONO?
All the participants will get WONO bonus tokens applicable within WONO platform as soon as the blockchain will be launched with exchange rate 1:1.
Will your application work?
It will be released soon on Ethereum Kovan testnet. We’ll inform the community once it happens and give instructions how to get tokens for tests. In parallel, we’ll improve it by proceeding for further development of our private blockchain.
In the next articles we’d like to explain the following:
- Why a private blockchain based service is still revolutionary and worth using comparing to offchain competitors?
- WONO proof of concept - what features are available?
- How to get tokens to try using WONO platform?
- WONO coin and WONO token, what’s the difference?
- What will happen with WONO’s commissions?
- Will WONO offer mining opportunities?