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..
Example use cases include:
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).
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'.
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)
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
Disclaimer: The software and information is provided "as is", without warranty of any kind, express or implied, including but not limited to the warranties of merchantability, fitness for a particular purpose and noninfringement. In no event shall the authors or copyright holders be liable for any claim, damages or other liability, whether in an action of contract, tort or otherwise, arising from, out of or in connection with the software or the use or other dealings in the software. This software and information is for educational purposes only and is not intended to be used in any environment, production or otherwise..
Further, the information contained on this website is for informational purposes only and does not constitute an offer or solicitation to sell shares or securities in any entity or any related or associated company or entity. None of the information presented is intended to form the basis for any investment decision, and no specific recommendations are intended. Accordingly the information contained on this website does not constitute investment advice or counsel or solicitation for investment in any security.
This information does not constitute or form part of, and should not be construed as, any offer for sale or subscription of, or any invitation to offer to buy or subscribe for, any securities, nor should it or any part of it form the basis of, or be relied on in any connection with, any contract or commitment whatsoever. The operators of this website and its agents expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from: (i) reliance on any information contained in the website, (ii) any error, omission or inaccuracy in any such information or (iii) any action resulting therefrom.