THE SYSTEM AS A WHOLE- ALL ABOUT W12 NETWORK
Project funds:
The Jobs fund Type 1 is already designed. For the expression order, the unspent refund sum of funds and several other programs functions the token buyer can use MetaMask finance.
In this kind of Project deposit, the setup of the milestones in digital plans is verified simply by token buyers. Each token customer acts separately and makes a great independent decision about the setup of task milestones. At the time of each job milestone, each token buyer makes a decision whether to continue funding the job or to make a refund. If the small buyer states that the milestone has certainly not been executed, he can return the unspent sum of funds.
In the second type of Project money, the execution of the milestones in the digital contract is confirmed by independent oracles from the W12
network. If the oracles decide that the project will not meet the specific milestone, they suspend the release of cash to the job until the milestone is done. In this case, each token buyer can choose to receive a refund of the unspent amount of funds.
In the third type of Project fund, the execution of the milestones in the digital contract is confirmed by 51% of token clients. The excess fat of the voice is proportional to the number of bought tokens. The absolute majority (51%) is certainly established by the number of participants who exactly voted. To decide on the suspension of job funding, at least 20% of tokens buyers must have a part in the voting.
The Oracle Network:
Oracles - reputable people from different areas (lawyers, notaries, financial consultants, and others) who also transmits verified information from the alternative world to the blockchain and action to confirm the execution of cases programmed found into good contracts. When creating an original deal, the functions happen to be called to build the number of oracles employed to confirm wise deal situations and their qualifications.
- When creating a good, clever contract, the get-togethers are permitted to establish the number of oracles employed to confirm intelligent contract situations and their skills.
- All oracles undergo confirmation of id and complete a KYC method.
- Each Oracle independently assigns its fee in the T12 bridal party, which he receives for deciding (confirmation of a procedure).
- The more oracles that have a portion in the confirmation of a procedure, the larger their rates, the higher the T12 gas usage.
- When creating a good smart agreement, oracles are arbitrarily chosen from the decentralized W12 network in line with the given conditions.
- In the primary type of the job finance, 12 oracles happen to be arbitrarily picked. The decision not to perform the level requires 7 or even more votes. If one of the oracles cannot win an election, afterward it is certainly substituted by a save one. When creating an organization, the initiator can state a different number of oracles in the program, as well as the number and % of the oracular ballots of the total amount, wanted to generate a confident decision.
- With the support of voters, the oracles elect the chairman In assignments where parties needed the audit of milestones execution, the Chairman selects the categorizations of expected auditors and begins the painful. The winner of the yield of the auditors is normally established by the election of all oracles. The volume of funds allocated for the audit is placed by each job before it starts. The oracles decide based mostly on the data given by the auditors and the project roadmap.
- Found in a good scenario where the oracle provides chosen that the task does certainly not complete the level, the token purchasers have got the opportunity to go back their funds within a given period length. If the small consumer has certainly not returned their cash, the job receives a part of the task funds to financing the future stage.
- W12 gas is utilized to give for the function and routine service of the Oracle network. The project independently determines the quantity of petrol it again intends to work with on the Oracle network. The higher the gasoline utilization - the bigger the possibility of appealing to the virtually all professional oracles for the job.
- Auditors auditing the phases of the highway map receive repayment from the job account (proven by the job before the commence of its expression deal).
For more information, visit the link below:
| ICO NAME | Organicco |
|---|---|
| Website | https://tokensale.w12.io |
| WhitePaper | https://tokensale.w12.io/W12-en.pdf |
| https://twitter.com/w12_io | |
| Telegram | https://t.me/W12BountyChat |
| https://www.facebook.com/w12.io/ | |
| ANN Bitcointalk Thread | https://bitcointalk.org/index.php?topic=3220425 |
| Author Bitcointalk ID | onemancrypto |
|---|---|
| BTT link | https://bitcointalk.org/index.php?action=profile;u=1769254 |
| ETH ID | 0x9028bF231cC510105c202213078d33ce1E2de102 |