Since the birth of Bitcoin, blockchain and cryptocurrency projects have been on the rise. Unfortunately, not all projects have the best interests of the users at heart; Some are focused on solving real-world problems. For example, WaykiChain and IOST have their eyes set on the future.
However, with both of them fighting for the same spot – being the best smart contract platform – there may be no apparent difference between them. Additionally, from a distance, it may be hard to choose the best between the two.
Here, a comparison of WakiChain VS IOST will help in deciding which platform is better. The comparison will stretch from ROI for investors to how attractive they are to Dapp developers.
What are they up to?
WaykiChain is a Turing-complete platform for developing smart contracts. It uses delegated Proof of Stake to reach consensus. WaykiChain produces a new block after every 10 seconds. The platform can handle more than 1000 transaction in a single second.
To give Dapp developers more freedom, WaykiChain supports its own sidechain. With a second layer on top of the main blockchain, applications meant to interface with the main chain can have their own set of rules before committing to the main chain. This includes a different consensus mechanism and even block generation times.
WaykiChain has a Dapp funding program which accommodates developers from around the world. the program seeks to encourage developers to “co-build WaykiChain ecosystem” and at the same time make “sustainable profits.”
IOST is a smart contract platform focusing on the internet of services. Unlike WaykiChain, which uses the DPOS consensus mechanism, IOST uses a Proof of Believability (PoB) mechanism. Some of the techniques utilized by IOST include sharding technology, which helps in achieving a high transaction speed. To attract usage, IOST “encourages all parties to join the Node Partners Program and help build the IOST ecosystem.”
WaykiChain VS IOST: A look at the ROI
To fairly compare the price fluctuations of WaykiChain (WICC) and IOST, we shall look at the price fluctuations in the last one month starting from May 15 to June 13.
WICC opened the 30 days at a price $0.275. From May 15 to May 31, the price oscillated between $0.231 and $0.286. At the beginning of this month, WICC was exchanging hands at $0.284. The price then fluctuated slightly downwards and is currently trading at $0.269.
On the other hand, on May 15, IOST was exchanging hands at $0.0149. Unfortunately, the price assumed a downward trajectory throughout the subsequent days in the month of May to close the month at $0.0133. Entering into June, the price took another dip to open the month at $0.0128. The IOST price has been declining and currently stands at $0.0113.
WaykiChain VS IOST: Who’s the winner
From the short overview above, the two blockchain projects are strong competitors. However, measuring by how much they have to offer to developers and those investing in their respective coins, WaykiChain stands stronger.
In conclusion, the platform is focusing more on its developers than IOST. For example, developers on WaykiChain benefit from $1.5 million in incentives where one Dapp has the chance of receiving a maximum of $15K. Additionally, WaykiChain provides “continuous incentives for re-development.”
Also, the platform’s power to support Turing devices places the platform at par with top public blockchains such as Ethereum. WaykiChain’s DPOS has more use cases than IOST’s POB
On the return on investment (ROI), WaykiChain’s native currency (WICC) looks more stable, and investors will have little to lose and more to gain.