WISEPLAT - | POW/DPOS | THE NEXT GENERATION BLOCKCHAIN SYSTEM
Blockchain WISEPLAT - this is the next step in the development of blockchain technologies. Currently, the blockchain is being intensively integrated by all market participants around the world. Georgia has created a system of land cadastral registration on the basis of the blockchain. The USA, Singapore, Belarus are engaged in the regulation of the crypto-currency market. One of the largest Swiss online banks Swissquote became the first institution to announce the start of trading bitcoin.
Today, when the technology of blockchain became clear to everyone, private organizations are starting to use this technology in their business processes. So, there are numerous private blockchain configured for the specific tasks of the organization. Such blockchains have advantages, in front of the public blockchain in the speed of transactions, the ability to combine several partners and save money, transparency of the business process and the elimination of misunderstandings by partners.
The WISEPLAT development team is implementing a project of a new public blockchain, using the best approaches to solving the problems faced by the popular blockchain systems of the blockchain. By laying out the functional and the potential at the stage of the WISEPLAT architecture, the problem of fast payments is optimally solved, while at the same time providing the maximum performance for private blockchain. While maintaining backward compatibility with a huge number of Ethereum blockchain tools, we are saving the opportunity for a large number of developers to efficiently use the ready-made developments in the new WISEPLAT blockchain.
Advantages of the WISEPLAT over other public blockchains:
• SPEED EXECUTION
• SMART CONTRACTS BETWEEN PRIVATE BLOCKCHAINS
• POSSIBILITY OF CONFIRMATION OF ACCOUNTS
The architecture of the WISEPLAT is designed to unite many private blockchains and solve existing problems of public blockchains.
Algorithm for coordinating PoW/DPoS
In the centralized systems, the main center tracking all cash flow has always been used to confirm the transaction. In the currently designed app, transactions are confirmed by nodes that interact with each other directly (P2P). Transactions are grouped into blocks. The blocks are interconnected in a chain. Each block has a link to the previous block. All nodes store a copy of the blockchain and form new blocks according to the rules. An important function of these rules is to protect the blockchain from attacks and to reach an agreement if several versions of the blockchain appear.
The agreement in the first blockchain is reached by means of a proof of work algorithm (PoW). Any miner with a computing power share can open a block which will probably equal their share in the overall
computing power. The consensus in the form of proof of work is unbiased, for instance, if the network’s new node is connected to at least one “honest” user it will choose a valid blockchain as it has the biggest computing complexity.
The agreement in the second blockchain is reached through the delegated proof of stake (DPoS), where the final decision is up to the token holder. In DPoS, the blocks are generated by a preset number of system users (delegates) who are remunerated for this and are punished for misuse (for instance, for proved participation in double spending). In the DPoS algorithms, delegates take part in two processes: Building a transaction block and verifying the validity of the generated block using an electronic signature.
A block is created by a separate user, and requires to be signed by more than one delegate to be considered as valid.
In DPoS, the share is taken into account by one of the following methods:
• Delegates are chosen according to their share in the system.
• Delegates get the votes from all users and the power of the vote depends on the share of tokens the voter has.
• The votes of the delegates are chosen in proportion to their security deposit.
In the WISEPLAT system, the share of the delegates in the DPoS of the second blockchain is determined in proportion to their security deposit making the consensus in the form of a delegated confirmation unbiased.
The type of agreement in the blockchain app of the WISEPLAT system is determined in the second blockchain as recorded in the app itself.
If the block generation time is limited to the minimal effective 12–15 seconds, we face the issue of the system’s overall scalability. The number of transactions grows at a significant rate as the system gets popular and the 12 second block can accommodate around 180 transactions. In order to accommodate a reasonable number of transactions it is necessary to increase the time required for block generation and consequently increasing the time required for confirming the operation.
All operations can be divided into two categories:
1 — Urgent, such as payments, and requiring an almost instant processing.
2 — Medium term, such as data exchanges with apps which do not require immediate processing but need a high rate to work adequately.
Therefore, several blockchains are expected to be used: The first blockchain for financial operation via the PoW confirmation algorithm, the second blockchain for publishing the apps via the DPoS confirmation algorithm, and an app blockchain to work with app translations implementing the DPoS or PoW confirmation algorithm determined on the level of the second blockchain.
The WISEPLAT blockchain is based on Ethereum. The new approach to using several blockchains will make it possible to uncover all capabilities using smart contracts expanding the space for creating the applications and at the same time preserving the value and work stability.
Wise Dagger Hashimoto complexity algorithm is one of WISE network’s innovations which dynamically adjusts to the network’s hash rate.
The computational complexity of the first blockchain results in the block generation time of an average of 15 seconds.
The computational complexity of the second blockchain results in the block generation time of an average of 45 seconds.
The computational complexity of the application blockchain is determined on the level of the second blockchain as recorded in the app itself and is usually between 15 and 45 seconds.
Depending on the hash rate of each block, the algorithm sets the complexity based on the analysis of the blocks’ timestamps for the last 2 hours by changing the block generation box.
Reaching the rate
Divide and rule (divide et impera) enables to use the strategy for getting and holding power by dividing the large concentration of power into groups which individually have less power. This way, we can reach a maximum work rate by dividing the system into several blockchains.
Firstly, what stays unchanged is the first blockchain reflecting all operations with internal WISE tokens of the WISEPLAT platform built on the PoW stable consensus model.
Secondly, what we need is a chain to reflect the current applications in the system, namely store app parameters such as: application name and type, key words, a short description of the app, a root list of the app’s delegates built on DPoS stable consensus model.
This way, the WISEPLAT platform users will have fast and reliable internal tokens based on PoW, and will always aware of the applications in the system and have the possibility to install them through reliable distributors owing to DPoS. The applications’ architecture can use PoW or DPoS. For instance, choosing a DPoS architecture for an application gives the opportunity to complete thousands of transactions per second which will ensure a great rate within the WISEPLAT platform.
Communications between blockchains
The main blockchain is used to reflect financial iteration, and provides the possibility for making short text comments. It is possible to receive updated information about accounts and cash flows at any time, and if necessary initiate your own transaction.
The interaction with the second blockchain takes place when searching applications and their trusted distributors. For instance, after finding a desired app the user initiates the primary synchronization of the application blockchain with the trusted distributors and other network users through P2P.
The applications are enabled to intercommunicate in every way through application blockchains, as trusted application distributors are always known and applications’ blockchain can be quickly synchronized.
Using several blockchains becomes the solution for the scalability problem for Bitcoin and other blockchains, for instance, Ethereum.
The idea is to ensure a stable payments channel along the first blockchain and record the intermediate application transaction in separate blockchains for each individual app.
For instance, using the second blockchain a user can find an app which solves his/her tasks. Let’s assume that it is some digital content. Then the provider of the digital content and its consumer will reflect their cash flow for the content in the first blockchain, and will store the transactions leading to payment in the application blockchain. By using such an architecture, the platform can adjust to a rate of a thousand transactions per second.
The architecture of the WISEPLAT platform makes it possible to run applications in parallel on any number of computers. The architecture of the application blockchain ensures the coordination of their work results. The application’s maximum capacity is ensured by using the DPoS consensus mechanism.
Backward compatibility with Ethereum Virtual Machine (EVM)
The WISEPLAT platform envisages a backward compatibility with Ethereum to provide a maximum efficiency of repeated use of created applications. This way, the designers of the WISEPLAT blockchain system have provided the existing Ethereum tools and applications the possibility to operate and develop on a new promising WISEPLAT platform.
The Ethereum Virtual Machine (EVM) has been used for the majority of existing smart contracts, and now they can all be easily adjusted for operation within the WISEPLAT blockchain. The contracts will be fulfilled inside their own sandbox in the first blockchain.
Mining and Rewards
A recent start with an average network complexity will enable the owners of the R9 280x video cards feel themselves to be equal in WISE mining to those owning a new generation of video cards as these cards currently provide for 27MH/s which is even more than the stock 24 MH/s RX480.
Due to backward compatibility with Ethereum, it is possible to use any mining software of the respective platform to mine in WISE.
Bounty for Block
A fixed bounty of 3 WISE is set for mining a block of the first blockchain. No bounty is envisaged for mining the second blockchain and the application blockchain.
Transaction Cost and WISE Token
One of the advantages of the WISEPLAT platform is that its architecture enables achievement of maximum capacity for processing transactions for applications which is independent from the market cost of the WISE tokens.
If an app owner wants to increase its capacity, they need to raise the number of trusted distributors in the first blockchain by depositing the respective amount of WISE tokens.
The WISEPLAT platform determines the process used to update the protocol; this is set on the system’s source code level and the adopted update agreement.
The following procedure is used for ordinary updates:
1. The block for updating the WISEPLAT application core is generated in the second blockchain.
2. The block gets approved by 10/15 of votes within 30 days.
3. As soon as 10 votes are cast, all WISEPLAT system nodes start using the suggested update.
4. Any nodes that fail to update within 7 days are disconnected.
5. In 7 days, all full nodes activate the suggested update.
The blockchain update process for addition new functions will take between 2 and 3 months.
The blockchain update correcting non-critical mistakes will take between 1 and 2 months.
The following procedure is used for critical fixes:
1. A block for critical upgrade of the WISEPLAT application core is generated in the second blockchain.
2. The block gets approved by 10/15 of votes within 12 hours.
3. As soon as 10 votes are cast, all WISEPLAT system nodes start using the suggested update.
4. Any nodes that fail to update within 12 hours are disconnected.
5. In 12 hours, all full nodes activate the suggested update.
The blockchain update fixing critical mistakes will take between 12 and 24 hours.
Let’s take a look at WISEPLAT’s architecture shown in Diagram 1.
The system’s upper level is represented by two blockchains:
The first blockchain is the payment system blockchain based on the PoW consensus. All operations between the accounts take place there. The smart contracts in the first blockchain are limited only by its blockchain.
The second blockchain is the application system blockchain based on the DPoS consensus. Voting delegates are chosen from the first blockchain, and the delegates’ tokens gets blocked there. The second blockchain is intended for publishing the apps of the WISEPLAT platform which enables user to always be up to date on an application from a blockchain’s block. The blockchain’s block contains the following information about the application: application name, a short description, a list of trusted delegates for this application (with their tokens blocked in the first blockchain), and the method for agreeing the blockchain for this application.
The next level is represented by different blockchains for individual applications (a separate blockchain for a specific application), and is called the application blockchain. The application blockchain is determined by the application’s trusted delegates and generates its blocks respectively depending on the chosen POW/DPoS consensus method.
Let’s take a look at Diagram 1 and see how a client gets his application from the WISEPLAT system.
The user should first connect to the WISEPLAT platform. This can be done through the WiseWallet application or through the command prompt console. The WiseWallet app is not just a wallet for making any kind of payments, but an app which can manage and create smart contracts, search for and find apps, inform the user on the changes in the delegates list in his apps reflecting the increase of capitalization or a planned reduction of capitalization for the used apps.
The user then searches for the app (see  in the Diagram) based on the set criteria with a possibility of ranking based on the rating. As soon as the user decides on the app, he/she can immediately launch its installation. The WISEPLAT platform for each published app informs the user (see  in the Diagram) of the list of trusted distributors for this app and the consensus method for the app’s blockchain. For instance, Diagram 1 shows that the “APP1” application has 4 trusted application distributors that have blocked 4*100 WISE as a guarantee for the app’s reliability, while “APP2” has 3 trusted distributors that have blocked 3*100 WISE as a guarantee for the app’s reliability, respectively. At this moment, the user is capable of making an approximate evaluation of the app’s reliability which is guaranteed by a security deposit.
After receiving a list of trusted app distributors, the user initiates the app’s initial download from the trusted distributors (see ,  in the Diagram) and a simultaneous search and download of this app through P2P (see  in the Diagram) from the app’s other clients. The user checks the accuracy of the information received along P2P from other clients though control block sums which he/she can always request from the app’s trusted distributors.
After receiving the app, the user can launch it and start using it.
Let’s take a look at Diagram 2 to see how the app can work for horse races using the WISEPLAT platform.
We will see how internal and external smart contracts work using this diagram.
The method for getting the app is similar to that described above for Diagram 1.
Let’s suppose that user A bets that a horse will win the race while user B bets that the same horse will lose, and let’s suppose that the amounts of the bets are equal to simplify the example. They place their bets through the app using a smart contract in the first blockchain. This smart contract blocks the tokens of users A and B, and the smart contract is sealed by three signatures: Users A and B and a third party which is a trusted app distributor who both users trust as they use its app (see  in the Diagram). After signing the contract, the users wait for the results of the race. The distributed racing app gets the results of the race (see  in the Diagram) through an external API (see  in the Diagram). The app users send the received information as a transaction to the trusted distributor (which is also an app chain delegate) to include this transaction to the block of the app blockchain (see  in the Diagram). The chain delegate confirms the transaction by signing the block and it is distributed through the app blockchain. The users’ app waits for the signed smart contract to appear in the transaction chain, and as soon as this transaction appears the apps of users A and B unblock the smart contract with their signatures and the respective enumeration of tokens (see  in the Diagram). If users A and B do not intend to fool the system, the contract is performed if there are no conflicting conditions for transferring the tokens and signatures of both users A and B are intact. If there is a conflict because the users provided inaccurate information, the third trusted party (see  in the Diagram) being the trusted app distributor (that is also a delegate of the app chain) steps in.
Let’s take a look at Diagram 3 to see how the app can work for an exchange using the WISEPLAT platform.
In this diagram, we will see how the exchange works and how users A and B interact.
The method for getting the app is similar to that described above for Diagram 1.
Let’s suppose that user A owns 100 ETH and wants to exchange them for 100 BTC, and that there is another user B who owns 100 BTC and wants to exchange them for 100 ETH. Because users A and B do not trust each other, the market price for BTC and ETH is different and these are different kinds of cryptocurrencies, the users can only act through an exchange.
An exchange has payment addresses in each kinds of cryptocurrencies to be able to work with different cryptocurrencies ensuring a reliable intermediate layer for exchanging different pairs of cryptocurrencies.
Users A and B add their ETH and BTC to the exchange’s payment addresses, respectively. User A offers to sell his/her 100 ETH in his/her ETH/WISE order book, for instance for 100 WISE (see  in the Diagram), and places an order for buying 100 BTC for 170 WISE in the ETH/WISE order book (see  in the Diagram). User B offers to sell his/her 100 BTC in his/her BTC/WISE order book, for instance, for 200 WISE (see  in the Diagram), and places an order for buying 100 ETH for 80 WISE in the BTC/WISE order book (see  in the Diagram). This means that we have two order books with 2 orders in each. The price spread between the requests narrows as the number of the exchange users grows. If users A and B agree on the price, they can exchange the cryptocurrencies BTC ↔ ETH. It is natural that users A and B have their accounts in WISE which they tap for the missing WISE for the exchange and where the remaining WISE are transferred to following the change.
LIMITED SMART CONTRACTS
The WISEPLAT platform makes it possible to use the entire smart contract potential by performing smart contracts between private blockchains
A smart contract is an algorithm describing a set of conditions which are necessary to perform other planned tasks and which eliminate the human factor.
The main principle of a smart contract is that it is fully automated and the contract relations are reliably executed.
Parties sign a smart contract using their digital signatures. Once this is done, the smart contract becomes effective. The contract obligations are automatically fulfilled on the WISEPLAT platform level, inside the system which provides the executable code free access to the smart contract’s subject. All conditions of the smart contract should have a mathematical description and a clear performance logic. Having the access to the contract’s subjects, the smart contract tracks the achievement or violation of the clauses according to the specified conditions and performs the activities outlined in its code.
For instance, a smart contract can be efficiently used for the following:
• Recurrent payments
• Partner programs
• Token transfers
• Bets in sports, oil prices, derivatives, etc.
Types of Smart Contracts
There are three types of smart contracts differing in their level of complexity in the WISEPLAT platform.
Preset contracts are contracts in which all fields are strictly set and cannot be selected.
Pattern contracts are contracts in which you can choose some of the fields from a list.
Complex contracts are contracts written by programmers.
Depending on the information source, smart contracts are divided into the following groups:
• Internal contracts. They use the information within the system and cannot call external APIs. Only internal smart contracts are used for the first and second blockchains.
• External contracts. They are used for application blockchains. It is possible to execute contracts referring to external APIs.
The possibility of confirming your accounts in the WISEPLAT platform is reached by using an account confirmation system enabling the users to receive identifiable account status for their accounts.
The WISEPLAT platform makes it possible to generate ordinary system users, and also has a mechanism for creating a user hierarchy giving the opportunity of managing secondary accounts and their rights for performing the operations.
Creating Address and Keys
There are special wallets in WISEPLAT to store and enable the cash and investment flow. This is a unique mechanism which includes a large number of transaction settlements and a unique security algorithm. All transactions are public but do not carry the information about the actual owner of these addresses. Each system user is capable of generating an unlimited number of key pairs. The main purpose of the keys is to create an address and confirm the authorization for forming a transaction. But keys can also be used as a digital signature or for encrypting communications. The created keys are usually stored in the wallet.dat encrypted file (“wallet”). A user comes up with a password used especially for accessing information from the “wallet.dat” file, i. e. to access his/her pairs of keys. A balance in WISE tokens corresponds to each possible address. All addresses with a zero balance are listed in a blockchain protected against changing. As mentioned above, a chain can only store transaction, that is why the account’s balance is not stored but is calculated based on all input and output.
A simple agreement on a multi-signature is used for protection against losses in case the secret key is lost. Using a multi-signature for a deal, the other company can be a party participating in each deal. This significantly reduces the risks but increases the expenses and imposes certain obligations on all participants.
A multi-signature is a mechanism used to raise the security level of cryptocurrency wallets. A multi-signature envisages generating a WISE address which requires several private keys (passwords) which are used to authorize the payment.
A payment can get a confirmation both through these keys and their combination. A multi-signature prevents an intruder from taking the tokens from the WISE wallet as he/she needs to get other people’s signatures which are required for authorizing an operation, and the list of these users is drawn up by the user in advance.
WISEPLAT allows to delegate roles through its inbuilt multi-signature mechanism. It is possible to set up the following: User A and user B jointly create and supervise a wallet for user C setting restriction for the wallet’s spending amount and its daily volume.
The mechanism for managing authorizations for the subordinate accounts is determined on the WISEPLAT system level. This allows to delegate account management and introduce an additional security level to the system.
For instance, a user can create a “master” account and a related “secondary” account which is restricted in making payments towards the “master” account only. This way, the “secondary” account can accept any payments but can only make payments to the “master” account.
The WISEPLAT platform has an architecturally panned possibility to use the account confirmation systems (at the account’s holder wish) for 100% account identification.
This gives the initiators of ICO, crowdfunding, lotteries and any other programs for the WISEPLAT platform the opportunity to restrict the participants based on an identifiable/unidentifiable status as well as limit participation based on the country of origin/location or apply a more accurate criteria to the participants’ accounts.
All modern operating systems (Windows, Linux, Android, etc.) have rating assessments for applications which enable the user to quickly and, usually, safely choose the applications which meet their requirements for the tasks they are solving.
The developers of the WISEPLAT platform have taken this special feature into account, and it is implemented through using the APP WISE STORE second blockchain. This blockchain stores the following main information on the apps for the WISEPLAT platform: application name, type, key words, a short description of the app, a root list of the app’s delegates built on the DPoS stable consensus model.
The DPoS consensus model with depositing is used as a guarantee of the reliability of the apps itself, making it possible to view a root list of the app’s delegates for each app and how much tokens they have blocked to guarantee their reliability and consequently the reliability of the app itself. In case any unscrupulous apps are uncovered, these tokens gets written off. It is possible to withdraw from the list of delegates but then the tokens will be blocked for 30 days, after which it will be unblocked automatically. The WISEPLAT platform will inform users of the changes in the list of delegates reflecting the increase of capitalization or the planned reduction of the app’s capitalization to prevent a fast withdrawal of the app’s capitalization and protect the interests of the app’s users.
This means that the reliability of the apps is market based, the more delegates it has the more tokens it capitalizes.
The WISEPLAT platform software is built on the open source software with an open code. As the open code is available for viewing, studying and changing, this makes it possible for any users to participate in fine tuning the WISEPLAT system.
By viewing and studying the initial code you can see it for yourself that the WISEPLAT platform does the very thing it declares.
Independent Appraisers Board
Even if the app’s developers block tokens as a reliability guarantee for themselves and their app, this is sometimes not enough to convince the users that the app is 100% safe to use.
For this reason, app users can set up groups of independent appraisers to confirm the app’s reliability by publishing their reviews about working with the app.
WISEPLAT INVESTORS’ INCOME
Platform capitalization is based on increasing the number of applications that will be created by third-party developers.
The value of the WISEPLAT product creates a demand for tokens among users. The platform allows solving two main problems of Bitcoin: provides fast operations and effective scalability through several modes of operation.
In the applications of the WISEPLAT platform, additional services and products will be integrated, which can be obtained exclusively for WISE. The applications of the WISEPLAT platform have a large market for use. In the financial sector, they can be used for such purposes: payments, digital identification, compliance, P2P lending, insurance, trade finance and securities transactions. In addition, the project will have a demand among private blockers. Based on the WISEPLAT system, you can conduct an ICO company. Also, you can use smart platform contracts on trading platforms, crypto exchanges, to store data and create forecasts.
With the development of the network, the number of users will constantly increase. Accordingly, the demand for tokens will grow. The total number of tokens is limited. Given the reward of the miners, the amount may grow slightly, but this will not significantly affect the situation on demand. As a consequence, the token market will be constantly in demand with a limited offer, which will ensure the profitability of investors.
The WISEPLAT can be used to monetize apps by using “colored” tokens which can be traded at the exchange and be bought by the users. For instance, these “colored” tokens can be used in games to make purchases within the game. All main methods for monetizing applications which are currently used in ordinary apps can be used in the apps of the WISEPLAT system.
App developers for the WISEPLAT platform can create their internal “colored” tokens (colored coins), this way WISEPELAT makes it possible to hold ICO for apps offering to exchange (buy) app tokens in return for WISE tokens.
Crowdfunding allows for operating businesses and startups to attract investments into their projects. For this purpose, the initiator drafts the documentation describing the project, the level of demand for his/her commodity/service, specifying the project’s term and profitability. Then the initiator issues his/her tokens on the WISEPLAT platform and holds an ICO.
After the ICO the WISE tokens will be traded on popular cryptocurrency exchanges.
According to the road map for WISEPLAT platform applications, third party developers will set up their own exchange for the WISE tokens. This way, the developers intend to offer the app tokens at this exchange if the app developers submit the respective request to the exchange.
The architecture of the WISEPLAT platform allows the app designers to provide access to their apps by means of leasing. This increases the users’ demand for WISE tokens.
In order to efficiently develop the WISEPLAT platform, it is necessary to strive for increasing the platform’s capitalization.
The WISEPLAT blockchain system has an inbuilt mechanism for continuous capitalization growth by placing new applications on the platform. Each app blocks part of the WISE tokens as if removing them from the system for a while. In other words, quantity of circulating tokens decreases and their price goes up.
Advertising campaigns aimed at attracting third party developers to the platform will be held to increase its capitalization.
Smart contracts are the focus of the system. Some of them are designed to be easy to use and intended for the mass market while the other complex contracts will be developed in exchange for WISE tokens. The demand for tokens will rise, followed by their price growth.
WISEPLAT – platform for creating decentralized applications
Pre-ICO and distribution of tokens
• To conduct ISO organized Pre-ICO company, at which is going the
pre-sale of tokens WISE tokens at a discount to the price of 33,3%.
20 WISE = 1 ETH
• Conduct Pre-ICO company will allow to effectively present the
product to investors on a variety of advertising channels and in
ICO and distribution of tokens
Bounty and distribution of tokens
• Signature SignatureSignature SignatureSignaturecampaign campaign campaign – 25 000 WISE 25 000 WISE
• Articles, blogs, video Articles, blogs, video Articles, blogs, video Articles, blogs, video – 20 000 WISE 20 000 WISE
• Translations and moderation Translations and moderation Translations and moderation Translations and moderation Translations and moderation Translations and moderation Translations and moderation Translations and moderation – 15 000 WISE 15 000 WISE15 000 WISE
• Social networks Social networks Social networks Social networks Social networks – 10 000 WISE 10 000 WISE
• Bug Tracking Campaign Bug Tracking Campaign Bug Tracking Campaign Bug Tracking Campaign Bug Tracking Campaign – 10 000 WISE 10 000 WISE
• Creative campaign and other expenses Creative campaign and other expenses Creative campaign and other expenses Creative campaign and other expenses Creative campaign and other expenses Creative campaign and other expenses Creative campaign and other expenses Creative campaign and other expenses – 5 000 WISE
• Telegram Telegram Telegram Telegram – 3 000 WISE
• Banner campaign Banner campaign Banner campaign – 12 000 WISE 12 000 WISE
The future behind the WISEPLAT platform