:: Contractium Network :: The New Proof-of-Contract Protocol
The Contractium platform is a decentralized cryptocurrency project that aims to make smart contract implementations and development easier. Ethereum is one of the biggest platforms aimed at smart contracts but can be confusing to code on since the programming language isn’t known by many developers. The native token CTU will be used in a similar fashion as Ethereum in that the native coin will act as a contract fuel for the commercial network. Some implementations to help developers have been added which include, easy smart contract integrations, crypto payment gateways, reward systems, and token issuing.
In the market currently there is a problem with the way that smart contracts are set up and execute. As mentioned before, Ethereum (the largest smart contract platform) has confusing smart contract coding. This has led to many different exploits and problems within the applications (not Ethereum itself). One example of this is the Parity exploit which resulted in millions of dollars in user funds permanently frozen.
Another problem with current solutions in the smart contract and decentralized blockchain projects are the governmental issues that overlook them. In Ethereum it is thought to be fully decentralized, however, Ethereum is written in a way that would allow the system to have a rollback and transactions could be reversed which has caused a lot of people to question its consensus mechanism. In the early stages, there was a DAO controversial hack where Ethereum decided to reverse the transactions of the hacker to get users money back. This resulting in the coin forking into Ethereum classic (which is known as the original vision).
Another problem in the industry is that the currency exchange platforms that exist to connect users that want to enter or exit the market. Exchanges are often very centralized, and the decentralized exchanges are not liquid enough to facilitate efficient trades.
The Contractium Solution
Contractium plans on making the smart contract language on the platform easy to understand so developers will have an easier time developing decentralized applications. This will allow there to be less confusion and will create a better environment to have code audited and checked before launching so exploits can be kept to a minimal.
Different implementations of tools are going to be added to the platform so that developers don’t need to create everything from scratch, which will allow the platform to grow right from the beginning and expand right out of the gate. The platform is also going to focus on becoming fully decentralized and not allowing centralized people control over the network and be able to retract transactions.
The platform will also have a built-in cryptocurrency exchange so that decentralized exchanges can finally make a breakthrough and have liquidity. Decentralized contracts, applications, and documents will all be able to exist on the platform finally which will bring true value to the blockchain. Contractium will also have token money insurance within the platform in the form of the native coin CTU, which will give the blockchain more legitimacy and transparency with its users.
Contractium [CTU] Token Sale
- Visit website investment details: https://ico.contractium.io/
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Article written by @justiceforall
BitcoinTalk user: Mr.Ease
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