As blockchain technology continues to make headlines, more and more people are interested in cryptocurrency, especially its value and potential to affect the financial industry. However, the average consumer will not understand what cryptocurrency is or why it is important, let alone the technology behind it.
Therefore, the public’s view on blockchain application is becoming more and more narrow and short-sighted. Similarly, the potential and long-term impact of this technology has been difficult to understand and ignored.
West world’s gold rush in the West has exposed ordinary consumers to blockchain technology through four main strategies:
• Gamification function, with the unique application of blockchain
• promote the development of the game with the participation of community users
• users create and synthesize scarce digital assets
• asset transactions drive users to further actively participate
At the technical level, we plan to innovate the blockchain space through practical experiments and applications of digital scarcity, digital collections and non-homogeneous tokens.
By presenting the practical application of smart contracts and cryptocurrencies in an easy to understand way, we enable daily consumers to master the basic distributed ledger technology. Similarly, by demonstrating the practical application of blockchain technology outside the financial industry, we hope to broaden the public’s understanding of this technology and its potential applications. Please note that this white paper is for reference only and does not constitute any legally binding obligation on the author or any third party.
When developing the WestWorld, inspired by the public’s view of blockchain, we know that the following events have an adverse impact on the potential of blockchain Technology:
•The public has limited understanding of blockchain technology, which is usually affected by the evaluation of cryptocurrency in news headlines
• Initial token issuance (ICO) is a powerful fund-raising tool, but the abuse of ICO mode and the lack of practical application of blockchain technology make people distrust the dissemination of blockchain technology that should be supported.
These two events led to a bigger event: the lack of meaningful innovation in blockchain technology. Therefore, my products not only aim to solve these broad issues, but also to innovate the blockchain space through practical exploration:
• Digital scarcity, digital collections and non-homogeneous tokens.
1.1public views on blockchain Technology
Distributed ledger technology has the potential to become the biggest revolution in the information generation after the Internet. Its potential applications are diverse, and its impact spans multiple industries. However, the general concept of blockchain technology is difficult to understand, especially for mass consumers.
Existing blockchain projects usually limit their target to early investors or a relatively small group of people with professional knowledge and high interest. Nevertheless, most projects are still at the conceptual level or ongoing: their actual products are still vague.
1.2 practical and sustainable application of blockchain Technology
Initial token issuance (ICO) has proved that they are a feasible fund-raising model for blockchain projects. However, while this model intends to open up funds to investors outside the sphere of influence of venture capitalists, it will also pose obstacles to other audiences. Even more worrying is the ICO that attempts to commit fraud. These token sales are equivalent to scams, resulting in people’s distrust of token sales models, projects and related technologies.
Due to the news headlines’ evaluation of cryptocurrency and the potential to disrupt the financial industry, the reform of blockchain technology is relatively blocked. They ignore the obvious thing, that is, cryptocurrency related applications. Similarly, the concept of “cryptocurrency” often appears in the minds of ordinary consumers; They do not understand the impact of blockchain technology beyond trading and investment. When we understand that new development will follow the public interest to some extent, this may also limit the short-term and long-term reform of the blockchain.
1.3 meaningful reform of blockchain technology from digital scarcity
Finally, the important “unresolved” experiments continue to be digital scarcity and digital collections.
Digital goods have real-world value, from gold farmers in world of Warcraft to online stores on steam game platform (users can trade their game items with each other in their game collection). However, these niche examples are limited to computer games and lack any security. There have been many hacking, fraud, or development companies that affect the industry ecology and the overall economy.
Digital collections have great potential, but they have not proved successful for three reasons:
Central issuing institution
After the creation and distribution of digital collections, the rarest or most popular collections will be found, but nothing can prevent creators from creating more collections. When this happens, it will reduce the value of the original collection and may become worthless.
The existence of digital collections depends on the existence of distribution institutions. After creating a digital collection, if the creator no longer exists, your digital collection no longer exists
Lack of function
Physical collections are popular for their purposes. Art is a good example: people collect priceless art in order to hang beautiful things on the wall.
The current digital collection has no purpose and no practical function. This can be proved by the early popularity of digital collections such as cryptochunks, but then the interest quickly declined. We think part of the reason is that they lack practical functions.
The only reason why our previous examples are not affected by these reasons is that they have a large user base. Their central institutions, in the form of large developers, are obliged to their large user base, and are obliged to realize the “function” of these collections through relative game programs. Although the size, scope and reputation of these platforms can not completely eliminate the concerns about the dependent providers, they can also provide relief.
Because of these problems, people are reluctant to invest in digital collections other than the above niche examples. If digital collections retain value in the same way as real-world collections, this problem will be eliminated and a new collection world will come.
Western world is no longer a game designed by the platform / project side,
It is a blockchain game driven by the user community,
Users promote the game plot,
Users create game characters
Users create game assets,
Users trade game assets,
This is a project that really belongs to the user community.
In the game creation stage, 20000 pieces of land will be distributed in the form of social fission and simple combined games. Each piece of land is synthesized by three NFTs. Each user can only extract one of them. When all three NFTs are owned, one piece of land can be synthesized.
As the beginning of the game, land is a meta role in the future development of the whole game plot. After owning the land, the initial plot is set to pioneer in the West. When players come to the new world, they need to start planting corn on the land and gain a foothold on the new land through the most basic agricultural cultivation.
Corn planting needs seeds and water. These elements will be created through the consensus of community users.
2.1 learning in games
The main game mechanism of WestWorld is bound with cryptocurrency and smart contract. In this way, the previously difficult concepts become easy to understand, and users can master the basic blockchain technology.
Because blockchain is an emerging technology, there will be more obstacles in user guidance than expected. At the beginning of the launch, users need to have a metamask wallet containing ether. However, we plan to explore alternatives to metamask as a login scheme and a shortcut to convert traditional currency to ether. Now, we have set up simple guidelines to make the process as simple as possible.
2.2 positive concept and broad appeal
The Westworld brand is very approachable to consumers. The WestWorld brand stands out in the mainstream boring card collection. In addition to several specific experiments, only a few blockchain projects are positioned in markets other than high-value investors or cryptocurrency experts.The marketing plan of WestWorld also invites network celebrities from different communities (such as community leaders, scientific and technological authorities, etc.) to design NFT, that is, the privately customized WestWorld. This is another opportunity to expand the user level and introduce new players to west world.
2.3 proven mechanisms and practical tests
A major challenge for smart contracts is their unchangeable nature. The same concept is feasible in untrusted transactions and security issues, but it can immediately destroy smart contracts. When traditional software projects can repeat or correct core problems, blockchain projects cannot modify their smart contracts after launch.
Therefore, the economic and income model we are exploring cannot be artificially affected, good or bad. With this in mind, it is essential to carefully test and explore the mechanisms of our products.
It is also worth noting that we believe that the concept of proof is necessary to establish trust in the project and the technology behind it. We limit our “open build” approach until we have a minimum of viable products (in this case, alpha testing) to show to early users.
2.4 sustainable income model
WestWorld has not issued ICO, and WestWorld is operating a sustainable income model. We charge a small percentage (3.75%) for each transaction in the store.Like other users on the Westworld platform, we will also sell our roles to generate revenue. However, there is an upper limit on the sales of these roles, which are generated through the smart contract of Westworld. It is sold in a decreasing price auction, and the actual value is determined by the ecosystem of the store.
2.5 innovation of internal mechanism
Through the forward-looking erc-721 — non homogeneous token agreement, Westworld provides a feasible example for digital scarcity and digital collections.
2.5.1 non homogeneous tokens
In general, the tokens on the blockchain are homogeneous. The value of each token is the same, almost the same as cash. No matter which token you get, the value is the same. For this reason, the blockchain only tracks the total number of tokens, not each individual token. This method is effective for stocks, currencies and other goods, but because each WestWorld has unique genes and reproductive ability, we need to establish a non-homogeneous token environment.
In order to achieve this goal, we have created the erc-721 agreement for non-homogeneous tokens, setting standards for the transaction and ownership of non-homogeneous assets in the blockchain. Westworld uses this protocol to provide an interface to browse individual unique objects and powerful smart contracts for both parties to use when agreeing to trade (reproduce).
2.5.2 declining price auction
When we created the WestWorld, we need to find a way to auction non-homogeneous tokens. Because each WestWorld has unique genes, the current process of selling tokens on the blockchain is not applicable, because the value of each token can be different. Every token needs its exclusive auction, just like the auction on eBay.
Because the WestWorld uses the Ethereum blockchain to run, the traditional British auction is not feasible (that is, at the beginning of the auction, the seller suggests the selling price, and then the buyer can increase their bidding price over time). Ethereum blockchain requires every transaction to run on the network and pay gas fees, so users need to pay fees every time they bid. This is a poor user experience, so we need to find ways to reduce the number of transactions on the chain.
In order to reduce this number, we created a decreasing price auction. The seller first selects the highest opening price, the lowest closing price, and the period he wants to auction. Buyers can choose their bid during the auction. As long as the bid matches the current default price before no other buyers buy it, Westworld will be sold. The buyer pays the gas fee when completing the purchase, and the seller pays the gas fee when starting the auction.
We still see many opportunities to innovate blockchain technology. With the WestWorld, we can explore the scarcity of digital currency, an exciting and exploring concept supported by the blockchain.
We are not sure whether Westworld will be a great success, a flash in the pan, or just a small point in the history of blockchain technology. Like all blockchain related things, the future is changing rapidly.
But we believe in a few things:
• we believe in the potential of blockchain
• we believe in this product
• we believe in our team
• we believe in our community
Let’s move forward together