The OS for the

Decentralized Economy

 

What Is Workchain?

Workchain is an open-source system that makes a truly decentralized economy possible. With a revolutionary new economic model powered by smart contracts, it allows anyone to create or join a decentralized economy of their choosing and earn rewards for producing value for it. It can also be used by existing, centralized organizations to distribute authority across its individual participants according to their economic value during a specific block of time, introducing a much more fair and equitable kind of model to their business.

By creating unique, two-way incentives for all participants, workchain provides the ultimate use case for blockchain: the ability for any individual to produce value for many others and get rewarded rather than just transfer value to one other and not get rewarded. A decentralized economy is the essence of a free market and can be fairly implemented with smart contracts.

Workchains do not require any centralized third-party. No one controls a workchain nor has any authority over it, not even the person that created it.

Simply put, workchain is an autonomous, two-way incentive mechanism for blockchain..

  • Blockchain allows you to transfer value and information one-to-one, without getting rewarded
  • Workchain allows you to produce value and information and transfer it one-to-many, and get rewarded for your efforts

​Example use cases include:

  • Cryptocurrency project funding and token distribution mechanism
  • A neighborhood reward pool for cleaning and maintaining streets, parks, etc.
  • Home construction, where proposals from contractors are submitted as jobs for validation and funding together
  • Distributed financing for and the building of an entire company, incentivizing every aspect of its creation
  • Having others perform some kind of action
  • Ongoing fantasy league sports competitions
  • Retail e-commerce, including travel
  • Buying/selling of real estate
  • ...and much, much more​

As an open and truly decentralized incentive mechanism, the potential use cases are endless. The mechanism that powers workchain is the Infinite Token Organization (ITO).

Join

Produce

Create

If the power of blockchain is for anyone to 'be their own bank', the power of workchain is for anyone to 'be their own economy'.

Blockchain

Workchain

Distributed Ledger Technology

Distributed Organization Technology

Permissionless, shared public ledger in a peer-to-peer network

Permissionless, shared public organization in a peer-to-peer network

Consensus: Mining based on proof-of-work or validation based on proof-of-stake at the ledger level.

Consensus: Hybrid 'organic' consensus based on proof-of-productivity and proof-of-labor, at the organization level.

Purpose: Trustless validation of transactions to transfer value or information via decentralized and distributed authority over a ledger (e.g., bitcoin)

Purpose: Trustless validation of work to produce value or information via decentralized and distributed authority over an organization (i.e., an ITO)

Event-based methodology

Process-based methodology

Does not require any centralized third-party to verify transactions

Does not require any centralized third-party to verify work

Transactions made secure and immutable by cryptographic hashes

Work made productive and rewarding by tokenized incentives

Blocks mined or forged and rewards earned by a few, select participants

Work blocks can be validated and rewards earned by all participants

Block reward in a single native currency

Work block rewards in multiple non-native currencies as well as native currency

High cost and complexity of meaningful participation

Low cost and complexity of meaningful participation

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