❓F.A.Q
Frequently Asked Questions
Whive description? Whive is a peer to peer blockchain protocol that is built to allow for only small processor mining(CPU) and is resistant to both medium scale mining(GPU) and ASIC high scale mining.
Will Whive be open source? Whive shall be an open-source platform available for improvement through Whive Improvement Proposals(WIPs).
How much time will research consume? The experimental phase should be between 6 to 9 months with a private and public test-net rolled out at that time.
Which problems will the Whive blockchain solve? The protocol incentivizes building sustainable energy solutions initially and the smart distributed economy(IoT and AI).
How many WHIVE tokens will be rewarded per block? 200
How many WHIVE tokens will be there in total? 100,000,000
In which way will they be distributed (Timeframe)? Approximately 20 years.
What is the average transaction speed we are aiming for? 20 transactions per second.
Will there be a mining pool available? Yes.
Are there any installations needed? (Browser, Phones, CPU) Pool mining software, mobile and desktop wallets available for Linux, Mac OS, Windows.
Target Markets? Whive is targeting high solar reliability markets, notably South East Asia and Africa.
What hashing algorithm are we using? A customized YesPower 1.0 algorithm.
Which consensus algorithm are we using? Proof of Work with priority for CPU nodes.
How long will it take to mine one block (Block height)? About 10 minutes.
Will users be able to mine with the same private keys on different platforms/ browsers? Interesting question, this is an area of possible research.
Is it going to be ASIC resistant? Yes, off-course to maximize distribution with CPU nodes.
What design do we want Whive address to have? The public blockchain addresses will start with “W” and multi-signature or segwit addresses will start with “w”.
Will Whive have room for layer 2 add-ons? Certainly, the protocol shall enable atomic swaps with lightning and scripting enabled for Artificial Intelligence(AI) and Internet-of-Things(IoT). The Whive protocol should focus on Identifying objects and executing peer to peer contracts not storing information.
Will Whive have smart contracts? No, it’s based on bitcoin which uses SCRIPT programming language not easy to use for developing multi-purpose Smart Contracts. As such, the protocol algorithm is designed specifically for the distributed energy use case.
Which programming languages will we be using? C++ and Python.
When should we have our first wallet? Q3 2020.
How many core developers do we need for the Whive core wallet? Around 3 at any given time will be optimal.
Will there be an ICO? No!
Will Whive be able to update at any time when needed? Through soft-forks, hard-forks have to planned under WIPs.
Will Whive transactions be public or private to the peers? Public for Transparency!
When will Whive start trading? The date is unknown & is up to 3rd party exchanges which shall make the decision to list WHIVE!
Why or When do I purchase WHIVE Tokens? It's up to you, trading is a personal decision. Trading occurs on 3rd party exchanges. The Whive protocol does not offer any Investment or Exchange services as per the terms of service.
Is Whive competing with Bitcoin? No, It's an Auxiliary Chain of Bitcoin, hence complimentary!
Will the price of Whive go up? We have no idea or control, it’s up to price discovery on the open and free market. We expect the price to be volatile like all other crypto-currencies. Thus, trade at your own risk!
Is Whive a Security? No! There has been no raising or pooling of funds to develop the protocol. The project is open-source code launched with a complete roadmap, operated and maintained by a community of volunteering individuals with no central entity in control of the distributed network.
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