Unlike other cryptocurrencies that are massively deflationary, stunting digital economies that use them as mediums of exchange, or government currencies that are generally inflationary, wearing away people’s savings over time, the FreeMark is stable and better to trade, while your savings can grow over time with more FreeMarks as the money supply grows.
The Worldfree Network is a pro-business network, built by producers and value creators for value creators. Yet there is still more to the Worldfree story.
The World's Most Innovative Currency
“The only way to confirm the absence of a transaction is to be aware of all transactions.”
Satoshi Nakamoto, Inventor of the Bitcoin, in “Bitcoin: A Peer-to-Peer Electronic Cash System”, 2008
Well, this is not actually so—it is an invalid assumption. We can confirm a transaction has not occurred and changed the ownership of a coin if there is only one instance of a coin, as there is in every-day cash transactions. So why can’t that be replicated in the digital world?
Worldfree’s patent-pending Nodechain, for No Data Chain, does exactly that, and in the process produces a many-magnitude increase in processing speed (capable of literally hundreds of millions of transactions per second, with our massively parallel architecture), greater privacy and much less energy requirements for transaction processing.
Bitcoins/blockchain tokens do not all have unique identities and thus a fundamentally different solution was required. Worldfree’s solution is thus similar to physical cash—we can confirm that it has not been used if the owner still has it. If he no longer does, it has been spent. This concept is established digitally, and makes all the difference.
With the Nodechain, every member of the network earns transaction processing fees of 0.5% to validate the transactions of others in a random, blind way. Worldfree’s advanced technology makes it possible for all Worldfree Network members to earn income just by being a part of the network.
Worldfree has for these reasons and many others re-engineered the cryptocurrency, including the blockchain itself.
A second-generation software entrepreneur and veteran fintech and AI software developer and his team have re-designed the digital currency functionally—both economically and technologically, from the ground up.
In its place is a new paradigm, based upon consent, rather than consensus, as discussed in the White Paper. It is the first complete re-engineering of the blockchain since its inception.
The Nodechain removes most of the data from the public shared data, drastically reducing individual node storage requirements and producing much faster processing. It still uses many of the innovative cryptographic techniques of the blockchain, but in a way that improves upon the original design.
Now Worldfree is bringing natural language reasoning to a better engineered cryptocurrency.
The Worldfree team developed the world’s first technology to deliver direct answers from live, unstructured internet text. The technology has been used by many G200 clients and IBM offered to acquire it.
“Money is one of the greatest instruments of freedom ever invented by man. It is money which in existing society opens an astounding range of choice to the poor man, a range greater than that which not many generations ago was open only to the wealthy.”
Professor Friedrich August von Hayek, Nobel Prize, 1974
Different than the Blockchain
This new, patent-pending solution is entirely scalable, much more secure, and completely private, but usable by anyone.
Instead of a ledger of transactions, the Nodechain keeps a list of FreeMarks and their owners, but distributed randomly on every member of a network, not just some nodes. Distributed authority, called Digital Prerogative, is allocated more equally over the network than in systems like Bitcoin.
On the forthcoming Worldfree Network you will be able to tokenize any asset you would like—bonds, your own equities, and novel asset baskets—without programming and trade them globally. You will be able to buy and sell these as well as physical assets with FreeMarks that keep their value—both inflation proof and deflation proof. Other cryptocurrencies are not good enough to do this—their prices are too unstable and will discourage the business of exchange generally.
Worldfree is simply a better place to do business, all accessed through the world’s most advanced natural language reasoning technology, which has already matured commercially.
Join us to help make this new vision of a more robust and scalable digital currency platform a reality by learning about how these three amazing new technologies combine to fulfil the potential of the new world of cryptocurrencies.
Finally, a cryptocurrency engineered for prime-time
Today’s cryptocurrencies are right now enormously deflationary, and unstable generally. Deflation stunts economies by causing buyers to put-off their purchasing decisions. Thus people are not using cryptocurrencies except to speculate—it’s a crypto-depression! They are holding rather than spending cryptocurrencies to buy and sell goods.
Worldfree’s FreeMark, however, is fundamentally different. The FreeMark is a stable, digital cryptocurrency pegged to a basket of 20 commodities. Members of the Worldfree Network can make buy and sell globally without exchange rate risk. And your money is backed by real assets, unlike other fiat money offered by governments or Bitcoin/Ethereum.
In time, the FreeMark will become as stable as a rock, and respected for business around the world. So how can you benefit by owning the FreeMark if its price is stable? You win in two ways.
The first is during the ICO, when something called the Precursor FreeMark is traded on the Worldfree Network market by its members, prior to its conversion to equity in Worldfree Software Corporation and FreeMark digital currency.
The 100%-backed Precursor FreeMark can rise in value until the FreeMark enters the market at a stable currency, pegged by the automatic Atomic Central Bank that buys and sells FreeMarks at the price pegged to the basket of commodities. Learn more by clicking on the left.
The ACB automatically increases the number of FreeMarks that owners hold, rather than their value, so that an increase in money supply is truly beneficial to FreeMark savers, rather than the other way around for fiat currencies. In this way, the FreeMark as a currency is infinitely scalable for use by global businesses and individuals while still being inflation-proof.
The Atomic Central Bank Let's You Choose Monetary Policy
The Atomic Central Bank® is a distributed yet centrally-designed control paradigm that automatically implements the rules of the system, called Digital Prerogative.
It is the ACB software system, for instance , which implements the price-pegging system to a basket of commodities from distributed “oracle” knowledge sources. This process occurs using the distributed network and randomness, so that no one knows which node in the system is getting the knowledge, or even when, except that it is occurring on a daily basis. By buying and selling at the pegged price automatically, members of the Worldfree Network can have confidence in the stability of the FreeMark price.
The ACB charges small transaction fees, paying part of them to members, also allowing it to grow the reserve backing, so the currency is more dependable and stable. It resides on every computer in the network, paying royalties, accomplishing transactions, validating ownership, even facilitating lending and insurance in a way that benefits all Worldfree Network users.
The ACB performs mining-type transaction functions that older cryptocurrency designs accomplished with oligarchic computing nodes under the outmoded consensus paradigm. It is more efficient and much, much faster because less knowledge is involved and it is massively parallel.
One file contains a list of all FreeMarks and their owners. This file is broken-up and redundantly spread amongst all the nodes in the network. This means that the file has a relatively constant and tiny file size (about 1 MB) no matter how big the network grows.
No one knows where a particular FreeMark, with a list of its owner and prior owners, is stored because its address is a function of the hash pointer.
Smarter, lighter, safer, more secure and faster than a blockchain!
Any node in the network can do a transaction with any FreeMark it owns, sharing the processing with the other party in the transaction and the remote node storing the information, verifying that both parties consent.
The address is locked when accessed, and the transaction can occur independently of the rest of the system, allowing massively parallel processing on a time-scale reasonable for every participant.
A new mining approach doesn’t waste energy, operating system-wide at a cost on the order of 1,000 times smaller than today’s blockchains.
The transaction processing system facilitates processing in milliseconds no matter how large the network becomes, taking advantage of massive parallelism.
Instead of solving valueless math problems, the miners in the Worldfree Network parse natural language text from hundreds of millions of websites, making searching and direct-answering faster for everyone.
Features and Benefits
Nodechain vs Blockchain
Ownership, Use of Funds & Currency Backing Projections