What is WEIcrypto?
WEIcrypto - is an innovative ecosystem based on blockchain technology aimed at technological changes in the global financial system.
The task of WEIcrypto is to make cryptocurrency as convenient means of payment as a fiat money, without losing the advantages of decentralization.
In its ecosystem, WEIcrypto offers a number of solutions, some of which have no analogues in the traditional financial sector.
WEI (tr. "we", "our"; transcription - [vei]) cryptocurrency stores information in a chain of blocks, which are transmitted in JSON format. Counterfeiting of WEI is impossible, and the algorithms PrivateSend and InstantSend make WEI, in fact, an analog of cash without their disadvantages.
WEI uses the x11 hashing algorithm, combining 11 different hash functions for encryption, in order to make the network more robust and avoid centralization in case the algorithm is hacked to disrupt the mining process.
As we know from economic theory, money is the equivalent of commodity exchange. This is the main problem with cryptocurrency today: regardless of which country allows or does not prohibit its use as a means of payment by law, most sellers have no incentive to recognize it as an equivalent of their goods and switch to cryptocurrency payments.
Moreover, the bulk of people familiar with blockchain technology view its products primarily as an object of short-term investment and then as a currency.
WEIpay is a payment system for individuals and organizations, which absorbed all the advantages of online banking. Features to send denomination by user phone number or using NFC, creation of additional wallets within the account, allows you to maximize the comfort of using WEI.
Today's credit system is full of issues that make it inhumane: highinterest rates, credit dependency, risks associated with the inability to pay mandatory payments due to loss of income, and absolutely inhumane ways to repay borrowed money. All this puts people in a condition far removed from the concept of "progress".
As we can see, today, there are many decentralized credit platforms that work with such a primitive and traditional tool as interest rates.
WEIpartner Trust Funding represents a whole new level of lending relationships. No interest, risk-sharing, and decentralized methods of selecting funded projects are what set WEIpartner apart from current lending systems. A loan decided by voting of the masternodes becomes more humane because the WEIpartner system shares not only the risk of loss with the borrower but also their profits if they succeed.
WEIback mining service is aimed at stimulating the use of WEI for its intended purpose - as a means of payment, thereby solving the above problem, while conditions for registering a masternode and its operation make it possible to reduce potential WEI speculation on the market.
Thus, our solutions create a whole ecosystem in which the use of cryptocurrencies and blockchain technology becomes the most convenient and profitable for all users, regardless of their immersion in blockchain technology.
Last modified 6mo ago