SMILO - Making Alternative Protocols for Decentralization

donaa (6)in #bitcoin • 6 years ago

Hello everyone in this article I will present an interesting ICO analysis, called SMILO, based on the following criteria:

The Smilo platform was born from a spark of inspiration in June of 2017, when the founders of Smilo noticed some blockchain-based platforms were created with privacy and anonymity in mind, but none of these platforms could provide users with smart contracts and decentralised applications.

Smilo is different.

Introduction

Ethereum was initially proposed in 2013 in a white paper[1] by Vitalik Buterin, a cryptocurrency researcher and programmer. In the white paper, Vitalik Buterin described Ethereum as a public, open-source, blockchain-based computing platform featuring smart contract functionality. Since the release of Ethereum in 2015, several other projects have emerged which can also host smart contracts and decentralised applications, but these platforms are unable to host both anonymous and public smart contracts.

For mass adoption of blockchain technology, the Smilo team firmly believe that there must be a connection between a blockchain and its actual use cases. In order to ensure this connection, it is important to choose the best platform to connect with the use cases. Currently, there is no suitable blockchain-based computing platform for the medical sector, nor one that is an all-in-one solution for private escrow arrangements. All of the current smart blockchain-based computing platforms are public, but few people prefer their medical records or escrow arrangements to be public.

What is the Smilo platform?

The Smilo platform is a decentralised hybrid blockchain platform – ‘hybrid’ meaning both public and private. This platform is the first of its kind to support the combination of hybrid transactions, -smart contracts, and -decentralised applications.

Smilo's intent is to use the blockchain to create an alternative protocol for decentralised applications. Smilo's unique strength derives from the combination of multiple features:

Hybrid smart contracts
Hybrid decentralised applications
Hybrid transactions
Transparency
Privacy and anonymity
Connection to real life applications

Hybrid smart contracts
One of the best features of the Smilo platform is the hybrid smart contract functionality, which is a combination of both public and private smart contracts. Traditional blockchain platforms like X and Y provide their users with the ability to implement either private or public smart contracts as their code. Meanwhile, the Smilo platform is the first, and currently only, platform to provide developers with the means to combine both public and private contracts on one and the same chain. This element can prove very useful in many scenarios; take the social funding sector as an example.

Hybrid decentralised applications
Another great feature of the Smilo platform is the hybrid decentralised application option. Just as with hybrid smart contracts, hybrid decentralised applications offer uses for many different situations.

For a private and secure messaging app, for example, the Smilo blockchain network can host public messaging apps. However, some of the messages sent through the messaging app need to be private and secure. Therefore, it is very important that the Smilo platform can manage both private and public decentralised applications.

Hybrid transactions
Public transactions are completely transparent through Smilo, and they are visible through our blockchain explorer. On the other hand, when privacy and anonymity are necessary, we provide completely anonymous transactions that are both untraceable and not linkable.

Transparency
In this new digitalised world, transparency is a way for many companies to earn consumer trust, as transparent operations lead to a reduction of scams, overcharging, unnecessary and expensive intermediaries, and more.

With the inherent features of blockchain technology put in the form of mutualised record-keeping in a near-irrevocable time-stamped ledger, we bridge the gap of the trust deficit, which otherwise would not be possible. Transactions can be safer and much more transparent.

Privacy and anonymity
There are a number of successful platforms which host smart contracts and decentralised applications, but none of these platforms have the ability to host both public and private smart contracts and decentralised applications. This is why we made the Smilo platform. Smilo is able to make certain smart contracts, transactions and decentralised applications anonymous, if the user so desires.

Connection to real life applications
The team behind Smilo firmly believes that connections to actual use cases is critical for a successful blockchain platform. To ensure Smilo’s connection with real-life applications, we want to link our platform to actual uses, including functions for the following:

The medical sector
The social funding sector
Product tracking
The insurance sector
Public sector
Logistics sector
Escrow arrangements

MISSION & VISION

OUR VISION
Our vision is to facilitate a culture of transparency by making collective data irreversible and publicly available, whilst protecting personal data.

This will significantly limit the chance of corruption whilst simultaneously acknowledging the need to protect the individual’s data. A decline of middle men will occur due to the irreversible nature of Smilo’s user-friendly hybrid smart contracts.

The combination of public and private transactions on one blockchain platform, based on the Smilo Network Protocol in combination with the Smilo BFT+ consensus mechanism, defines Smilo as a hybrid blockchain platform with a conscience.

OUR MISSION
Our mission is to create an environment in which the consumer's need for privacy and security will be aligned with the processes of governments, NGOs, financial institutions and corporations. This will be accomplished by warranting full accountability and transparency from corporations, whilst safeguarding the consumer’s needs.

This environment will be hosted on Smilo’s decentralised, secure, fast, and sustainable hybrid blockchain platform. Not to mention, Smilo will make their source code publicly available, meaning that future blockchains, organisations and their applications can apply it to their specific needs.