AN AUTONOMOUS PEER-TO-PEER PAYMENT NETWORK

Infusion of Intelligence Into Decentralized Currencies

PRE-ICO and ICO Details

Contributors and investors should monitor the countdown timer in order to take their desired actions on time. We suggest you to read the whitepaper completely and perform required investigations before starting Pre-ICO. Moreover, join our official communities to be tuned or ask any questions and get replied. Be notified that Pre-ICO phase has only 28,200,000 coins expected to be sold very soon, and then ICO phase will commence immediately with a lower margin of discounts. Thus, plan in a way that you could capture what you really want.



Weecoin Price : $0.615 Grains Price (IGC) : $0.342
Initial Coins : 188,000,000 Affiliate Bonus : 20%
Soft Cap : $10,880,000 Hard Cap : $46,070,000
Pre-ICO Coins : 28,200,000 ICO Coins : 94,000,000
Pre-ICO Discount : 40% - 70% ICO Discount : 20% - 40%

Remaining time to start Pre-ICO



Investment Table

What is Weecoin

Weecoin is a cryptographic, peer-to-peer money transferring system based on smart technologies. The price of Weecoin is expected to be almost stable since the production of new coins is managed by intelligent agents. The system distributes new coins based on a novel mechanism of rewarding called Proof-of-Contribution (POC). Despite the network security is provided by miners, the energy consumed for mining is very low. Mining of blocks and confirmation of transactions run in a matter of a second with almost no delays and fees, through a heuristic method named Self-Group-Supervised (SGS) Consensus Algorithm which does not allow the network to be dominated by particular miners. Three groups are rewarded in the Weecoin network: Stakeholders, Miners, and Businesses.

Multi-Functional Wallet

Given that Weecoin is designed to be used widely by the public and businesses, its official wallet is developed in personal and business versions for various platforms, which will offer different services. In addition to basic Send/Receive, users will be able to pay the bills for purchasing goods or services within a matter of a second through their personal wallets. Weecoin is a coffee-problem-free crypto that serves both individuals and businesses by a two-way QR payment facility. Moreover, the official wallet does have a built-in exchange that provides users with Sell and Buy facilities, making them needless of other exchanges, though they could also utilize major exchanges of the market after listing the coin following the project roadmap.

Coin Management Agent

This autonomous agent (called CMA) generates coins based on actual demands. It receives and aggregates various demand-driven charts in specific timeframes (for example, daily) from the official wallet and exchanges. The agent first normalizes demand graph by eliminating the inflammatory states, and then generates new coins as much as it covers mining costs and actual demand in each timeframe. The minimum number of coins emitted in each timeframe equals to perennial incentive. In fact, agent explores the status of demand trendline in specific timeframes; if demand is greater than perennial incentive, it produces new coins as much as demand; otherwise the number of generated coins will exactly be equivalent to perennial incentive in that timeframe.

POC Rewarding Mechanism

Weecoin is a people oriented network, and everybody who contributes somewhat to the expansion and survival of the network receives reward. The amount of cooperation reward paid in each timeframe depends on the number of new coins produced in that timeframe. Produced coins are first deducted by the perennial incentive of mining, and the rest is divided among contributors proportionally. There are three groups of contributors: stakeholders (50% of the rest), businesses that use Weecoin as a payment gateway (30% of the rest), and miners (20% of the rest). Reward payment timings (daily, weekly, etc.) will be determined when the network is launched. Yet, it is a variable measure that can change by POC in response to different situations.

SGS Consensus Algorithm

Each active node hashes the transactions inside the new block (called weecut) and creates Merkel tree. Unlike Bitcoin, Weecoin miners are not looking for a specific nonce or finding a hash starting with zero(s). Rather, the node, that generates the hash first, broadcasts it immediately throughout the network waiting for approval of other nodes. If 75% of active nodes confirm the hash (that is, they themselves have generated the same hash), a consensus would be committed and thereby all active nodes will add and save the new weecut into their weechain. This is a kind of Self-Group Supervised (SGS) consensus heuristic algorithm and Group Decision Making process in which miners monitor each other's results to confirm or reject.

%51, %75 Attack Free

Theoretically and practically, the network is 100% secure, and trust is set up fully decentralized and shared. The 51% attack and double-spending on this network are meaningless since the SGS algorithm does not allow miners/pools to abuse the network, even with quantum devices. The 75% attack may happen when someone owns 75% or more of the strongest full nodes and try to capture all mining rewards. This by no means raises a problem in the network and everybody is welcomed to do so. More importantly, may some ones who take 75% of the network power decide at once to turn the entire network down? Our research shows that the probability of this assumption is roughly close to zero, and it is not possible in practice.

Unlimited Scalability

Weecoin has two phase of scalability. In the first phase, weecuts are mined by SGS algorithm that allows up to 100,000 transactions per second (TPS). The minimum and maximum number of transactions in each weecut is 10,000 and 100,000 so the size of weecuts varies between 0.5 MB and 50MB. When the system is launched, mining timeslices are selected every 10 seconds. As the number of transactions and network’s hash power increase over time, timeslices are reduced by 0.1 every 10 days, so that it will drop to 9.9, 9.8, 9.7, and finally to 1 second after 900 days. Hence, TPS would be 100,000 at best in the first phase. In the second phase, some types of sharding will be developed as required, which allow 100,000,000 TPS with quadratic and unlimited TPS with exponential sharding.

Involvement of Businesses

Attention of businesses to the system is one of the most critical factors effective in public acceptance and everyday use of Weecoin. Thus, those businesses that utilize the Weecoin network as a payment gateway will be rewarded. All the businesses that perform non-fake transactions with Weecoin will always receive 30% of coins produced in each rewarding period, based on the number and amount of transactions they have had. This is a unique feature that happens for the first time in the world of crypto. Moreover, an intelligent agent controls the risk of abusing system by those businesses that wish to get more rewards through performing fake transactions. It is to keep the network safe place for all the users who exploit Weecoin as reliable system.

Stable, not Centrally Fixed

The price of one Weecoin equals to the global average value of grains per kilogram, containing wheat, maize, barley, soybeans, and rice. According to the International Grains Council (IGC), the average price of grains per kilogram is $0.342 in wholesale and $0.615 in retail markets. Meanwhile, one Weecoin can be cut to two decimal places for small and cheap purchases. The smallest unit of Weecoin is called Spike, and each Spike is equivalent to 0.01 Weecoin. Based on intelligent production of new coins, Weecoin price is expected to remain stable. What we mean by stable is not to keep the price fixed by a central authority, but it changes in accordance to grain price. So, Weecoin price will always correlate with one kilogram of grains.

Roadmap
Q3
Basic Concept Founded
Environmental Factors Analyzed
Risk Management Plan Developed
Project Feasibility Assessed
Project Initial Team Created
Q4
Project Whitepaper Prepared (v.1)
Project Management Plan Developed
Whole Network Prototype Designed
Official Website Developed
Q1
Official Website Launched
Pre-ICO Campaign (date to be announced in website)
Main ICO Campaign (date to be announced in website)
System and Software Requirement Specification Designed
Q2
Coin Management Agent Developed (v.1)
Proof-of-Contribution Algorithm Developed (v.1)
Self-Group-Supervised Algorithm Developed (v.1)
Personal Wallet Deployed (Send/Receive + Vendor QR Pay)
Operational Network Launch (v.1)
Wallet Creation Announced to Investors
Coins Credited to Investors’ Wallets
Non-official Wallet Protocol & Interface Launch (W-Protocol)
Q3
Risk-based Auditing Agent Launch
Business Wallet Deployed (Payment APIs + Vendor QR Receive)
Coin Management Agent Extended (v2)
Proof-of-Contribution Algorithm Extended (v2)
Self-Group-Supervised Algorithm Extended (v.2)
Operational Network Launch (v.2)
Q4
Official Wallet’s Built-in Exchange Deployed (Sell/Buy)
Coin Listing on Major Exchanges (Exg-Protocol)
Retailers Invitation Campaigns
Wholesalers Invitation Campaigns
Turning into Stable Currency Pair on Major Exchanges
Expanding the Market (continuous activity)
Team and Advisors

Ali Ghobadi

Main Founder & Intellectual Owner

As the prime owner of idea and representative of the team, I have been working on Weecoin since May 2018. I am well known in DBLP, Scopus, ISI journals and scientific conferences (provable claims via Google). In addition, I am in the middle of transferring Weecoin to the University of NSW (ranked 45th in the world) through a full scholarship program. On the other hand, the vast majority of my colleagues are still worried about publishing their identities in the website, and they rather to remain anonymous. Though we first tested to go with alias, we finally decided to publish only my own identity which means I am personally responsible for entire project, and I will reorganize the team if needed. However, the team members will voluntarily introduce and add themselves to Weecoin’s LinkedIn Page whenever they want. The team is completely able to implement Weecoin, but it is imperative that people trust and fund the project. Otherwise, the project would remain at experimental and academic scale.

Visit Other Members in Weecoin's LinkedIn Page

Research Partners

Weecoin is an academic, joint research project being performed by a group of researchers, mainly from the following institutes. The project team includes two groups with separate tasks; research group and implementation group. But the intellectual property rights are reserved only for the researchers (with the representative of Mr. Ali Ghobadi as the main intellectual owner of the idea). Any copy or abuse is subject to prosecution. However, we welcome all kinds of cooperation from individuals, companies, and universities that believe they could make constructive synergy to this Public Utility Project. Neither the research group nor the operational team will benefit personally from the collected funds, except for 15% of initial coins reserved for them.



Documents

Despite Weecoin itself is a cryptographic technology, it is not similar to the currently available hundreds of cryptos. Please read the whitepaper then consciously decide to participate or to reject.



Terms and Conditions

  • Sign up into the website with a valid and active email address. Be noticed that the email address you provide while registration will be considered for all your next activities.

  • You do not require to create multiple accounts as you can perform all activities through one registration. Yet, the website allows anybody to have more than one account.

  • Not yet. Any registration at this time will be considered personal. You could transfer your coins to a business wallet after launching the official wallet of the project.

  • People with any nationality are welcomed to make a contribution to the project.

  • Regarding nature of the project, no KYC process will be set up.

  • Weecoin is a real project and the team is ready to answer any legal questions raised by countries. However, we suggest investors (specially US and China citizens) behave in compliance with their national and governmental laws.

  • After registration, go to your dashboard and make your desired investment. You could buy Weecoin only by paying Bitcoin; maximum of three times a day. Please take into account that all the information reflected in Whitepaper are considered as inseparable parts of Terms and Conditions.

  • After successful payment in Bitcoin, you will receive the corresponding Weecoins in your dashboard balance. Then you should stay calmed and tuned until launching the official wallet. Now, it is time to transfer your Weecoins from dashboard to your wallet.

  • Follow the investment table to see various set of discounts. You can get a discount of 40% - 70% at PRE-ICO, and 20% - 40% at ICO.

  • You should communicate with Weecoin only through officially announced channels and social media. Otherwise, your questions would not be replied with valid answers.

  • It is up to you, but anything you say and listen is not considered official.

  • Some of them are one-way which will be used only for announcement. Others could be exploited for interaction.


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