The problem

Blockchain technology promises to revolutionize business by creating smart contracts that, unlike paper contracts, are impossible to breach. However, at this point, smart contracts are completely isolated from the rest of the Internet.

This is called "The Oracle Problem".

The solution: smart contracts with real power!

The Witnet protocol connects smart contracts to any online data source. Sports results, stock prices, weather forecasts or even other blockchains.

The protocol works thanks to a distributed network of mining nodes—called witnesses—who earn Wit tokens as a reward for retrieving web data and reporting it directly to the smart contracts.

Wit: a minable native token

Witnesses are also in charge of validating transactions in the network and bundling them into blocks that get appended to the blockchain periodically.

In doing so, they collect transaction fees and block rewards.

Decentralized and fair by default

The probability for every witness to be assigned tasks or mine new blocks is directly proportional to their past performance in terms of honesty—their reputation.

The Witnet protocol is designed to make Wit mining viable even on commodity hardware, thus guaranteeing fairness and decentralization.

100% truth, 0% trust

Data provided by Witnet is reliable not because of authority but because it comes from anonymous witnesses who are incentivized to remain honest and to compete for rewards.

In addition, the veracity of this data is guaranteed by a late stage algorithm that detects fraudsters, who are immediately punished.

The door to a world where history is no longer written by the victors

Witnet will enable the creation of "Digital Knowledge Arks": decentralized, immutable, censorship-resistant and eternal archives of humanity's most relevant digital data.

A series of truth vaults aimed to ensure that knowledge and truth remain democratic and verifiable forever.

Learn more about the Digital Knowledge Arks >

Compatible with existing smart contract platforms

Witnet complements (and completes!) other smart contract platforms like Ethereum thanks to “bridge nodes”.

Bridge nodes are the interface between Witnet and other blockchains and will allow all kind of atomic cross-chain operations (asset transfers, contract calls, swaps, etc.)

Witnet will also be used to connect different blockchains and pass information between them. Imagine an Ethereum smart contract reading the state of a Bitcoin transaction and acting based on it. With Witnet, that's a piece of cake!

Read this article to know how Ethereum <> Witnet bridge nodes will work in practice: 

Brought to you by an unstoppable team of makers

Witnet is an open source project originally devised by Stampery, the leaders of blockchain-powered data certification. The protocol is now being developed by Witnet Foundation in collaboration with a community of independent contributors.

Ever since Stampery was founded in 2014, they have been on a mission: replacing blind trust with mathematical proof. Witnet is the next step towards this goal.

Stampery is backed by top venture capital funds and angel investors, including Tim Draper and Blockchain Capital.

The Stampery team has also been involved in the development of Aragon, Trailbot, Mongoaudit and Loqui IM.

Token distribution

• No more than 2,500,000,000 wit tokens (wits) will ever exist.
• 70% will be mined by witness nodes through block rewards that will decrease over time.
• 30% will be minted in the early stage block (first block in the chain). These will be assigned as follows:
  • 20% to Witnet Foundation for development, research and engineering grants, community building and marketing actions; as well as rewarding previous Stampery investors*.
  • 10% to Republic investors (max. $1.07M) and a separate private sale limited to accredited investors (max. $28.93M).

(*) All wit tokens assigned to Witnet Foundation (including those directly assigned to founders and previous Stampery investors) will have a linear vesting scheme for 2 years preceded by an initial 6-month lock-up period, with the only  exception of 50% of them, which the Foundation will at its own discretion spend rewarding early contributions coming from community members. All other wit tokens (including those given as a repayment or interest to investors in this offering) will be completely free from vesting and lock-up and they will be usable as soon as the Witnet network is launched to the public as a "mainnet" release. All vesting and lock-up periods described here are also counted from the date of that same "mainnet" release.

About this offering

This offering is a Witnet Foundation debt offering, payable:

• By assets (Wit tokens), with a 20% interest, or
• By cash, with no interest, if the tokens never get issued for any reason.

Investors do not receive any equity interest or ownership in Witnet Foundation or any of its affiliates. Repayment obligations are set forth in and limited to the terms of the DPA Agreement. Key repayment terms are listed below but are qualified entirely by the terms of the DPA Agreement. Please carefully review the entire DPA Agreement before participating in this offering.

• Once the Witnet network and the underlying protocol are fully functional, a "mainnet" public release of the software has been made, and the Wit token has been released to the public, investors will be repaid in full by Wit tokens, together with a 20% interest also paid by Wit tokens.
• Within 6 months from the end of this offering, Witnet Foundation will create a prototype displaying how the protocol will work from a user perspective (Milestone 1). If Witnet Foundation fails to reach this milestone, it will repay 60% of the debt amount in cash to investors, with no interest rate. The same repayment will be done under the same conditions at any time before reaching this milestone if Witnet Foundation decides in good faith that the Wit token will not be released to the public for regulatory reasons or on any other grounds.
• Within 18 months from the end of this offering  Witnet Foundation will create a "testnet" preview of the functional network for testing purposes (Milestone 2). If Witnet Foundation fails to reach this milestone, it will repay 30% of the debt amount in cash to investors, with no interest rate. The same repayment may be done under the same conditions at any time before reaching this milestone if Witnet Foundation decides in good faith that the Wit token will not be released to the public for regulatory reasons or on any other grounds.
• At any time after Milestone 2 and before 3 years from the end of this sale, if Witnet Foundation decides in good faith that the Wit token will not be released to the public for regulatory reasons or on any other grounds, it will repay 5% of the debt amount in cash to investors, with no interest rate.
• Please carefully review the entire DPA for complete terms, as well as the risk factors set forth in the "Risk" section down below. Also, do not hesitate to ask for clarification using the discussion box at the bottom of this offering page.

Become part of this revolution.