Why WebDollar is a shitcoin.
1. Pump-and-dump scheme
The sole purpose of the webdollar cryptocurrency is to create a pump and dump scheme at the expense of the so-called 'investors'.
How? Selling premined coins through their website (advertised as an exchange platform).
The currency is advertised as an investment and they are creating hype ("we expect the prices to spike very fast seconds after the release" [1]).
On the day of the dump (called 'Initial Release Event') the premined coins will be sold by the webdollar founders.
Be aware: they advertise webdollar as an investment, but they are not registered with SEC.
Selling webdollar through their website will be illegal.
Videos:
They don't want to register a company because they don't want to be held liable for the pump-and-dump scheme. (
https://youtu.be/6YAEtqtL_So?t=9m30s)
Webdollar is premined:
https://youtu.be/p3zC7u_KRAY?t=3m51s[1]
https://medium.com/@adrianmihaistratulat/not-another-ico-56cd4c6fe0c42. Developers have no experience in the cryptocurrency community
The webdollar project started 6 months ago. Before that, the founders had no experience in the cryptocurrency community.
Now they are already advertising that they are 'specialized in blockchain applications'.
Examples [2]:
a) they don't know about constant time cryptography
"Cum naiba poti sa scrii altfel ca sa verifici 2 hashuri daca sunt diferite?
for (let i=0; i
if (initialHash
!== myHash) return false;
Sa mor eu daca poti scrie altfel codul aceasta si sa fie mai eficient.
Este aproape atomic, tinand cond ca initialHash si myHash au acelasi lungimi si sunt reprezentate pe 32 bytes."
b) they don't know about PQC
"Deobicei fuunctile criptografie lucreaza pe 2^256 si sunt vulnerabile la calculatoare quantice." it is trivial to switch to a 512bit hash function to negate quantum attacks.
c) The lead developer doesn't know what a commitment scheme is:
"Commitment scheme 101 is used in zero knowledge, we don't have zero knowledge at the moment."
d) The lead developer is involved in mass media manipulation with Mihai Gadea and Dan Voiculescu, he also received MONEY from Dan Voiculescu https://www.youtube.com/watch?v=RvkunqseC9M
https://youtu.be/zraL-jpEhgY?t=14m10s
[2] https://silviu-s.com/webdollar-coin-internet-newest-internet-cryptocurrency/
3. Webdollar is centralized
Premined currencies are centralized. A small number of entities are given a percentage of the entire supply WITHOUT working for them.
This is a theft from all the future miners and users.
The premined coins can (and will) be used to manipulate the market (see pump-and-dump scheme).
4.Webdollar is not secure
The browser is not a secure platform for developing cryptocurrency applications:
https://www.cvedetails.com/product/3264/Mozilla-Firefox.html?vendor_id=452
https://www.cvedetails.com/product/15031/Google-Chrome.html?vendor_id=1224
Javascript is not a good language for implementing cryptography algorithms
https://blog.bren2010.io/2014/06/17/javascript-crypto.html
‘In-browser crypto is not as secure as the state-of-the-art, therefore it’s insecure.’ 
