The chainless Financial Platform comprises the Web3 mini-program platform, multi-signature and multi-backup wallet, and SIMI universal community software. Chainless is not just a platform but a revolution. It is based on the redefined concept of Web3+, which defines Web3 as “click, push, + own.” The platform inherits the advantages of Web1 and Web2, setting new standards for the current Web3 industry and becoming the most widely used cryptocurrency platform. It will host over 100 times the number of Ethereum DApps, with all applications appearing on the chainless platform as mini-programs.
Based on years of blockchain research, Mr. Zhu Weisha used the methods of “comprehensive scanning” and “deep thinking” to solve the global mystery of “who is Satoshi Nakamoto” through rigorous deduction (for specific details, see: Invite Satoshi Nakamoto to Welcome the New World). After affirming Satoshi Nakamoto’s achievements and the value of Bitcoin, Mr. Zhu proposed the chainless Financial Platform solution, addressing the major pain points currently limiting the development of the blockchain industry.
Current Industry Pain Points:
1. The Bitcoin System Is Not Suitable as a Payment System
The “Bitcoin system” can function as a transfer tool but is unsuitable for payments. Using it as a payment system requires enduring latency issues and the uncertainty caused by price fluctuations. Blockchain elites have struggled for over a decade with this major pain point, and so far, no solution can compete with Web 2.0 payment systems.
2. Bitcoin System is Prone to Coin Loss
The secure usage and inheritance of assets are undoubtedly the second major pain point for Web 3.0. Without surpassing the security of centralized banks, Web 3 has no future.
3. The Bitcoin system is suitable for issuing tokens, but the costs of the blockchain ledger are too high for large-scale applications.
Currently, accounting consumes too many resources, making the ‘wages’ for bookkeeping exorbitantly high, with costs far exceeding those of centralized accounting.
4. Other Problems
Smart contracts are neither smart nor intelligent; they cannot be upgraded after generation. Blockchain wallets are much less user-friendly than Web 2.0, and the dual-drive structure of blockchain accounts severely limits the application of smart contracts. In banking, individual accounts are highly flexible; the rigidity of the Ethereum-based blockchain structure ensures that it will never match the efficiency of centralized ledgers, making widespread adoption impossible.
The underlying technology of the chainless Financial Platform still involves a chain but is not the conventional purely technical blockchain product. It is a blockchain product designed with a “product application” mindset. Chainless combines blockchain security with Web usability, achieving a perfect blend of decentralization, security, and scalability.
The following nine aspects provide a detailed introduction:
1. Features and Advantages of the DW20
DW20 is a token the chainless Financial Platform issued based on the BRC20 standard. It is a consensus stablecoin that does not need to be anchored to other currencies, unlike USDT, which is pegged to the U.S. dollar.
The commonly known USDT is pegged to fiat currency at 1:1 with the U.S. dollar as collateral before issuance. USDT uses the consensus of the U.S. dollar to enhance its credit and become a stablecoin, making each USDT equal 1 USD.
DW20, however, is not pegged to fiat currency; it aims to establish itself as a new consensus, deriving value through wider usage and recognition, similar to Bitcoin. This way, DW20 becomes a new consensus currency independent of fiat. The current U.S. dollar serves as a benchmark for measuring the value of goods globally, but this “measuring stick” can be manipulated through the “U.S. dollar Rise and Fall,” resulting in global exploitation. USDT’s reliance on this makes it impossible to serve as a standard currency.
A standard currency must possess three fundamental properties: store of value, medium of exchange, and unit of account. Due to volatility and recording delays, Bitcoin fulfills the first two but not the third. The U.S. dollar and the euro currently serve as standard currencies.
DW20, modeled after Bitcoin, can become a consensus currency designed to function as a unit of account. DW20 does not tie itself to any nation’s economy but serves as an objective measure for Bitcoin, facilitating payments and accelerating the arrival of the Bitcoin standard era.
The development of DW20 is backed by its connection to Bitcoin, borrowing Bitcoin’s “credit root” and “faith” during the accumulation phase. Due to its negative feedback mechanism for rapid adjustment, DW20’s stability will not be influenced by national economies, resulting in less volatility than the U.S. dollar. Its supporters believe that only a stable financial ruler can become a proper medium of exchange.
DW20 derives its value from people through the mini-program platform’s universal nature and the Simital community’s functionality, attracting users to transact. Consensus emerges from value, similar to how gold’s properties establish value. Bitcoin’s value is based on the conversion of computational power, which only increases as its value rises. The demand for Bitcoin grows as DW20’s value increases, allowing users’ payment needs to be converted into Bitcoin value. This fulfills Hal Finney’s vision of Bitcoin as a primary payment system, with a value exceeding 10 million USD.
Volatility attracts more participants during Bitcoin’s growth phase. However, without DW20’s assistance, Bitcoin may never become a primary payment system, highlighting the significant role of DW20.
DW20’s growth follows three stages:
– The first stage is the MeMe coin stage, marking the initial growth of consensus from zero.
– The second stage is when the consensus value reaches 1 USD, supporting establishing the “Bitcoin dollar standard.”
– The third stage involves competing with or replacing the U.S. dollar, further supporting the “Bitcoin dollar standard.”
For a detailed explanation of the DW20 mechanism, see Implementation of DW20 Decentralized Standard currency).
2. DW20’s Mechanism for Stable Price Growth
1) The Role of the Stability Fund and Market-Making Mechanism
One of DW20’s core advantages is its design of a market-making fund mechanism. The market-making fund provides fundamental price support, especially in the early stages when DW20’s price is low, and market demand is not entirely apparent. It maintains essential market stability by adjusting supply and demand.
2) DW20’s Issuance Method and Community Believers Ensure Price Stability
DW20’s issuance follows Bitcoin’s distribution logic, matching supply and demand naturally through the innovative “POP” algorithm. Every real internet user has inherent value, forming the base value of DW20, and the price will eventually align with this value.
DW20 serves as Bitcoin’s shadow currency, leveraging Bitcoin’s credit endorsement. For Bitcoin believers, DW20 further strengthens their belief in the “Bitcoin standard.” As an important token accelerating the realization of the Bitcoin standard, DW20 naturally carries a broad consensus base.
3) Bitcoin Collateral to Issue DW20, Naturally Stabilizing Prices
DW20 stablecoin has payment attributes, and its price is determined by supply and demand. As the demand for payment scenarios grows, prices will rise. If DW20’s price remains constant, its issuance volume must increase. Within DW20’s design mechanism, Bitcoin collateral can increase the issuance volume. In such cases, market participants can naturally use Bitcoin collateral to issue more DW20, stabilizing the price as DW20 demand rises.
3. Innovative KYC Mechanism Ensuring Successful Airdrops
No project has yet successfully achieved a large-scale airdrop in the cryptocurrency industry. Users often sell reward tokens in the early phases. Airdrops are the basic distribution logic for chainless tokens. If fraud cannot be effectively managed during large-scale promotion in the future, it may destroy the project.
The platform has upgraded its review system multiple times and developed a comprehensive KYC mechanism capable of large-scale airdrops. This mechanism combines automated review procedures with user information, behavior data, and time data to audit participants in real time. Additionally, manual reviews dynamically monitor data legitimacy.
During early phases, users often sell reward tokens. The platform distributed tokens fairly to believers by market trading, reducing selling pressure after launch.
The innovative KYC mechanism is designed for future scalability and can serve other projects requiring mass airdrops. It offers promotional services through the Simitalk community as a potential revenue stream.
4. The Project Pioneers the “Inheritance” Feature
The chainless Financial Platform introduces an “inheritance” feature, enabling users to transfer assets to designated individuals according to predetermined conditions, such as amount and time. Account holders can set one or multiple inheritors, ensuring the safe transfer of assets. This design addresses the issue of lost assets due to private key misplacement or unforeseen circumstances, providing greater security and solving complex inheritance issues traditionally seen in financial systems.
5. Keeping crypto assets within the wallet addresses the pain points of security and convenience.
1) Exchange Mini-Program
Major exchanges function as mini-programs within the chainless wallet, eliminating the need for users to transfer assets to exchange addresses for trading. Users can complete various transactions directly within the chainless platform.
2) Payment Mini-Program
Payment tools like U-cards are mini-programs within the chainless wallet. Users don’t need to transfer assets to different payment tool addresses. Assets stay within the chainless wallet, enabling seamless transactions and transfers through smart contracts without leaving residual assets in payment tools. This reduces security risks, management complexity, and potential financial loss associated with multiple payment methods.
3) Airdrop Mini-Program
Airdrops and promotional activities are also mini-programs within the chainless wallet. Users can participate directly in receiving various tokens and rewards without needing native tokens for gas fees on multiple chains. The platform’s innovative Relayer mechanism allows users to join various airdrop projects through a single registration without paying any fees, mimicking the free model of Web2, offering a seamless experience.
4) Other Mini-Programs
Chainless is a large cryptocurrency application platform that hosts a multitude of mini-programs that will exceed the number of DApps, including programs for issuing RWA tokens and banking-level asset custody.
6. Secure, Multi-Signature Wallet with Web2 Smooth Experience
Blockchain’s current use cases present challenges for non-crypto users, such as managing private keys and wallet security. Chainless’s wallet innovatively stores private keys encrypted on the server side, keeping them hidden from users to ensure security. The blockchain industry has seen numerous cases of lost coins due to private critical exposure or misplacement.
For users, remembering complex private keys isn’t necessary. They only need to answer “security questions” to confirm their identity (decrypt the encrypted information) as in Web2.
The chainless wallet is a multi-signature, multi-backup wallet supporting up to 12 devices for authorized signatures. Users can set different levels of signature permissions for various scenarios, such as requiring three devices for transactions and only one for balance viewing.
7. Core Design: Resonance of Three Major Scenarios
1) The Wallet as the Platform’s Core Foundation
The chainless wallet is a multi-signature, multi-backup wallet offering a Web2-level interaction experience. It integrates private key storage without user input and multi-currency “cross-chain integration” through an innovative multi-currency protocol. The wallet’s usability and security will naturally attract new users.
2) Mini-Programs Empowering the Core Application
The chainless wallet’s user base grows due to its ease of use. Exchange, payment, and airdrop mini-programs further enhance its usability and security, allowing users to perform various operations without leaving the wallet. This makes the wallet more functional, increasing user numbers. With more merchants and mini-program scenarios, new users are continually drawn in.
3) Simitalk Universal Community Software: The Key to Traffic and Strategy
WeChat is a social software that surpasses Alipay in payments with its “red envelope” feature during the Spring Festival. Telegram’s TON project leveraged the social scene for rapid growth, ranking 9th in the crypto industry within a year. Elon Musk’s acquisition of Twitter is part of his comprehensive business strategy.
In the agricultural era, land was valuable; in the industrial era, machinery and factories were valuable; in the information age, value is in user numbers. Social scenarios are crucial for growth. Blockchain projects require community consensus and engagement.
No proper blockchain-oriented social software exists on the market, leading to the development of Simitalk. With an innovative Web3 architecture, Simitalk ensures that private chat data is not stored on servers, guaranteeing user privacy and data security. It bridges public and private social spaces, pioneering a community model tied to cryptocurrency. Simitalk supports the “chainless community” and various other projects, filling the cryptocurrency community product market gaps as a genuinely universal community software.
When users open SimitaIk, the “chainless wallet” appears as a mini-program; when they open the “chainless wallet,” Simitalk functions as a mini-program. This integration allows Simitalk’s traffic to feed the chainless wallet and vice versa, creating a user-friendly experience where users can access various project communities without leaving the wallet.
4) Formation of a “Mutual Empowerment Triangle”
As Simitalk matures, the chainless Financial Platform will attract a large base of blockchain users. This growth will draw in more projects, exchanges, and partners. As a result, the wallet will offer more prosperous, more convenient, and cheaper user scenarios, increasing wallet users. Consequently, DW20 usage for gas fees will rise, expanding DW20’s payment scenarios and consensus base, leading to price growth for DW20 and chainless’s equity token, CLY.
The Web3 mini-program platform, multi-signature wallet, and Simitalk community software form a “mutual empowerment triangle. “Each component’s growth greatly benefits the other two, creating a resonance effect. This effect translates into CLY and DW20 values and prices, forming a resonant relationship.
8. Exploring New Community Governance and Financial E-commerce Models
The chainless Financial Platform tightly integrates the token economy model with social experience, providing users with economic incentives to participate actively in community activities and platform construction. Users can influence platform governance and development by holding and using platform tokens, forming a decentralized autonomous community structure.
1) Community Co-Governance
chainless adopts a decentralized governance model, giving users all decision-making power. A multi-level governance structure ensures that users with different contribution levels have corresponding participation and decision-making rights, not solely based on token holdings. The community is divided into four levels: core, mentor, contribution, and holder.
2) Profit for Contributors
The platform rewards contributors through a “participation mining” model. Users can earn more tokens by submitting proposals, promoting the community, or discovering vulnerabilities. This mechanism incentivizes user participation and ultimately perfects the community system.
3) Transparent Profit Distribution
The community mechanism follows a transparent profit distribution principle. It publicly displays each user’s contribution and rewards, ensuring all participants can view the community’s reward allocation.
The platform will develop a financial e-commerce model based on the community structure when the community matures, offering a disruptive advantage over traditional financial businesses.
– The mentor layer is similar to influencers and KOLs, building user trust, equivalent to a financial advertisement effect.
– The group leader role resembles traditional financial salespeople, whose value lies in “serving customers” and “developing new clients.” Group leaders naturally possess “community service” and “group member resource” attributes, aligning with this value.
– When the platform allocates more profits to “mentors + group leaders,” its financial e-commerce business will have much lower costs than traditional finance while providing highly efficient services. It gives the platform a disruptive advantage over conventional finance.
9. Final Remarks
The chainless system logs transaction records by calculating hash values and uploading them to Bitcoin’s segregated witness area. Anyone can download these logs and verify hash values, leveraging Bitcoin’s credibility and thus making the “blockchain” invisible. The chainless system inherits Bitcoin’s openness and machine trust with the efficiency of a centralized system, solving the existing blockchain’s payment issues (see the detailed model in Web 3.0 Chainless Financial Platform White Paper).
The chainless system has meager bookkeeping costs, an expandable accounting system, and unlimited throughput. Smart contracts are easy to write and upgrade, and the wallet is secure and user-friendly, indistinguishable from a centralized wallet.
History’s evolution involves inheritance and development, and the internet is no exception. Web 3.0 must inherit Web 2.0’s achievements to become mainstream. Mr. Zhu Weisha has transformed the current centralized system using Bitcoin’s philosophy, incorporating humanity’s advanced Web 2.0 achievements, making blockchain seamless and easy to use, thus realizing “chainless.”
On November 9, 1863, U.S. President Abraham Lincoln delivered a speech at Gettysburg. In just 300 words, he created one of the greatest speeches in human history, “Government of the people by the people for the people.” Today, Lincoln’s dream is becoming a reality in the data age, embodying the “Three Principles of the People in Data.” Bitcoin is an excellent practice in this idea, and the emergence of the chainless financial platform will accelerate the arrival of the “Bitcoin standard,” which will create a bubble-free financial system.
