WHITE PAPER – V 0.2
1. Origin of Okamua
As the Hawaiian language of “the first”, “first”, “first”, it means the first encrypted e-currency, finishing the generation of all bills of currency and allowing the user to truly enjoy the free, do. The Indians who lived in the past, freed the world and enjoyed peace and freedom, have now used the Hawaiian language to highlight the meaning of the message as the first step in the future of money in the new age, or as a message of peace in the future. This will be the basis of the first user-level electronic encryption.
2. Development background
As everyone knows, the world no longer uses a lot of bills. And, as an alternative to future money, many cryptocurrencies are flooding. But is it really the look of future currency that we can use safely? Rather, are they close to daily fluctuating stocks? Can we buy bread, rice, and necessities with the coins at the same price today and tomorrow? This reason was we started Okamua.
1. Pros and cons of current currencies
- Lost problems
- Too many kinds of money
- Counterfeit bill problem(Fatal)
- Expensive transaction fee
- Re-Issuance Cost Problem(Fatal)
2. Pros and cons of crytocurrencies
- Sharing information in decentralization
- Lost Hazard (Fatal)
- Resource wasting and competition due to mining
- Possibility of collusion of mining pool
- Increase in fees
- The sudden change in price (fatal)
- Loss / Delay of Transaction
- Hacking problem of new coin (source released)
- Invisible centralization / uncertainty of responsibility / difficulty of use (fatal)
- Absence of accountability after hacking or loss (fatal)
- Complexity in Coin Units
3. Okamua as a solution to all thsse above issues
As we have seen above, we can see that there are many problems of current currency and bit coin types. Some may know the fact, or others who do not know it at all. However, if there are people who profit, there are those who lose together, and if there is a damage caused by price fluctuations like stocks , you will understand it. But who is responsible for loss or hacking? What do we really need to pursue to solve the problems of the current currency and crytpocurrencies and to pursue the future currency as a form of development and ease of use. As mentioned earlier, at the same time, you need to buy breads, rices, and necessities at the same price. Also, you can go to offline shopping malls, use the unchanging price, use the present currency, do u feel it is stable? Okamua solved all these issues.
1. Semi-centralization to pursue full responsibility
- Hacking is not possible when the initial node is are not enough
- It is not necessary to disclose the source because of the certainty of – For the harmonization of super nodes, we have devised WV algorithm to solove DPos issue. This will be the similar structure like Presidential representative democratic system. Also, DPos will solve speed problem by eliminating unnecessary competition. to solve problems such as hacking, transactions, and even loss, thereby raising the user’s level of confidence and improving stability in coins.
- In the existing ledger method, if coins are stolen by hackers or criminals, they are diluted after several transactions due to bitcoins’ characteristic, so if policy want to find it, police need to wait until money are withdraw. This case will be completely solved with coin transaction method.
2. User-based coin that embraces present and future usage together
- It is a revolutionary QR code-based, encryption coin that has the convenience of current currency and reduces the cost of reproduction. This can be printed whenever anyone desires money in the form of a check or donation, which solves the problem of money reproduction costs, is more accurate and safe than money, is easier to transport, It provides protection.
- Okamua can be used in online and offline without restrictions.
- A user-friendly web and app will be provided, which are convenient for users to use effectively. The stores can freely publish and attach QR codes of their goods at any time. Users can quickly and easily scan QR codes with mobile apps to pay money for goods.
3. Statutory collateral staple coin
- Okamua is a Stable coin where 1 OKM is fixed at $ 1 (USD), so you can always use the same price for comfortable mind and stable transaction amount. And, it is also distributed to the third organizations at 1: 1 ratio.
- When you lost coins by loss of password or secret key, the coins can be recovered via Call Center service.
4. Semi-anonymous system
- Complete anonymity with email only until the user contacts the service center with a hack, lost money, or lost password.
4. WV-DPos Consensus
- For the harmonization of super nodes, we have devised WV algorithm to solve DPos issues. This will be the similar structure like Presidential representative democratic system. Also, DPos will solve speed problem by eliminating unnecessary competition.
- With QR codes, users can easily and quickly process addresses, checks, donations, etc.
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