Cardstack: Future Proof Blockchain Application

neeraj3296 (25)in #blockchain • 6 years ago

“The practical consequence […is…] for the first time, a way for one Internet user to transfer a unique piece of digital property to another Internet user, such that the transfer is guaranteed to be safe and secure, everyone knows that the transfer has taken place, and nobody can challenge the legitimacy of the transfer. The consequences of this breakthrough are hard to overstate.” — Marc Andreessen

What is Blockchain Technology?
From a cruising altitude, a blockchain might not look that different from things you’re familiar with, say Wikipedia.

With a blockchain, many people can write entries into a record of information, and a community of users can control how the record of information is amended and updated. Likewise, Wikipedia entries are not the product of a single publisher. No one person controls the information.

Blockchain technologies present opportunities for disruptive innovation. It enables global business transactions with less friction and more trust.
Trust is a risk judgement between different parties, and in the digital world, determining trust often boils down to proving identity (authentication) and proving permissions (authorization).

Put more simply, we want to know, ‘Are you who you say you are?’ and ‘Should you be able to do what you are trying to do?’

In the case of blockchain technology, private key cryptography provides a powerful ownership tool that fulfills authentication requirements. Possession of a private key is ownership. It also spares a person from having to share more personal information than they would need to for an exchange, leaving them exposed to hackers.

With the ever-evolving blockchain technology, new ventures are seeking to provide options for entrepreneurs to make more money. One of the latest in the market is Cardstack. This new venture intends to ensure that blockchain technology is not only usable but scalable. It creates a decentralized software ecosystem for Internet users, which competes with other digital superpowers.

While the pioneering decentralized innovations like Bitcoin showed how blockchain can be useful, the reality is that only very few have gained from it. However, Cardstack can be described as a leap forward for blockchain enthusiasts. In each layer within the software stack this offers a toolset which unblocks the full potential that comes with the decentralized internet, for the enjoyment of everyone.

What is Cardstack?

Cardstack, found online at Cardstack.com, is an open source framework and consensus protocol that aims to make blockchains usable and scalable for the mass market. The end result is a decentralized software ecosystem capable of challenging today’s digital superpowers.

Cardstack sees itself as a leap forward for blockchain at every layer of the software stack. It provides a toolset unlocking the potential of the decentralized internet for everyone.

The ecosystem uses CARD tokens to reward network participants. Miners, meanwhile, provide network analysis in order to fairly distribute CARD tokens to participants — including the developers who create services for the Cardstack ecosystem.

Need of this revolutionary framework , Cardstack. Today’s centralized tech giants — mega corporations like Facebook, Amazon, and Google — force users into silos, then capture the value users create.

Cardstack wants to break down app silos in favor of an open, digital world. With Cardstack, end users can mix and match features from multiple apps or decentralized apps without worrying about a mess of separate cloud subscriptions or utility tokens.

Basically, Cardstack wants to create an adaptable framework that breaks down today’s data silos, creating a more permissive future for the internet.

How Does Cardstack Work?
Cardstack allows users to mix and match features from multiple apps or DApps without worrying about a mess of different subscriptions. Users can also design new workflows where they join different services together across different layers of the internet. Protocols like this aren’t possible in a centralized version of the internet.

Cardstack does all of this with its composable design paradigm, which turns units of information into bite-sized, encapsulated cards. These cards can be expanded, embedded, attached, chained, triggers, versioned, cloned, approved, rescinded, or saved forever.

Developers, meanwhile, can build on Cardstack using the Cardstack Framework, a comprehensive SDK that facilitates the creation of card-based blockchain apps. Developers can build anything using modular narrative and discovery containers. They can easily construct custom workflows using the Cardstack Hub, for example, which organizes data and value transfer across multiple blockchains and the cloud.

The Cardstack ecosystem revolves around the use of the Cardstack token, or CARD, an Ethereum -based ERC20 token. When a user spends CARD, it seamlessly forms smart contracts between the user and their chosen apps before getting staked into a reward pool. Pooled tokens are periodically distributed to the creators of apps based on anonymized usage data tracked by the smart contracts.

Miners can also participate in the Cardstack ecosystem. Cardstack analytic miners help calculate the reward function of who gets paid out what.

The brains behind Cardstack’s ecosystem is its consensus mechanism called Tally. Tally aims to create a more scalable blockchain solution using cryptographic proof of usage messages that are efficiently validated and aggregated off-chain before reporting the final payment splits back to the smart contract on-chain, dramatically improving the experience and reducing demands on the Ethereum blockchain. This avoids problems like long wait times, rising costs, and absurd resource expenditure.

The end result is that Cardstack aims to lay the foundation for the mass market adoption of blockchain technologies.

Benefits of Cardstack
Just like applications based on the blockchain network, Cardstack will be fully decentralized, meaning that it cannot be controlled by any single entity or government. It’s will also be completely transparent, and guarantee security to its users. Here are the benefits of Cardstack:

For Users
End users can benefit from Cardstack in all of the following ways:

Mix and match multiple decentralized apps and cloud apps
Create new workflow and app combinations using the Cardstack Hub
Use a single token (CARD) to create retainer agreements with all of the services you need
Keep your data sovereign or send it anywhere with the Cardstack card-based user experience
Get started quickly with fiat currency, with no cryptocurrency experience required
For Developers
Developers can build on Cardstack to enjoy powerful advantages like:
A comprehensive SDK allowing the creation of powerful, beautiful, extensible apps
Access a deep library of powerful drop-in functionalities
Improve app experiences using Cardstack’s off-chain aggregation
Get paid fairly by the Cardstack community-run payment and governance algorithm
Get reimbursed for material costs
Keep things 100% open source
For Analytic Miners
Analytic miners can contribute to the platform to earn benefits like:
Perform the useful work of powering community-run algorithms that create a fair distribution of wealth across the Cardstack network
Help protect the system against outliers, bad faith actors, and spam
Earn compensation in the form of Cardstack tokens (CARD) that can be held or circulated back into the ecosystem
Get compensated via a fair sortition scheme that prevents any one single party from controlling reward functions
More Details : https://cardstack.com/