Firmo: The new security protocol for the blockchain

hasbydiaz (51)in #crypto • 6 years ago

As the technology of the blockchain grows beyond the limits of the industry, new applications of distributed books and smart contracts are born every day. Firmo is the new protocol, which allows the consolidation of financial contracts regardless of the type of blockchain used.

Firmo, a company specialized in financial contracts within the blockchain, built an infrastructure that offers transactions with great security, and allows creating something almost absent in many block chains, such as intelligent derivatives and financial products. Recall that derivatives are contracts that derive their value from the underlying assets agreed by the signatory parties. This is where the Firmo protocol operates, allowing its users to create safe and automated derivatives in any kind of decentralized assets.

Servicing this market is extremely attractive, as derivatives promote efficient allocation of risk by allowing hedging and speculation in positions.

The introduction of derivatives to cryptocurrencies has been contemplated since Ethereum's initial White Paper. However, to date, no viable solution to the security problems inherent in the native scripting languages used for the main public block chains had been proposed. The Firmo protocol solves this problem by defining intelligent derivatives in their domain-specific language: Chorus. This provides the user base with one of the highest levels of security that can be achieved within the distributed infrastructure, a quality that equally attracts peer markets, and conventional financial institutions or government entities that explore the value potential added in the blockchain technologies.

In essence, Firmo will be able to manufacture large platforms of blockchains, transactions and liquidity networks, that is, it will allow executing automated financial contracts. This will provide decentralized solutions to various markets within the block chain and solve security problems, accessing the protocol through a user interface clean and easy to use, allowing any user in the chain to create and send safe intelligent derivatives leaving users to market their derivatives in secondary markets either through the Firmo network or in any exchange that uses this protocol.

The FirmoLang protocol is written in Haskell and has been officially validated by the Coq test assistant. This suggests that it has high safety standards. In addition, all of your tokenized assets are supported by the Ethereum platform. That is, everything can be represented by an ERC20 token. This will allow traditional asset classes such as US dollars to be represented through Maker Dai and other stable currencies.

In summary:

Firmo is an intuitive, secure and independent platform, which is vital for anyone looking to move forward as a blockchain industry. It is a unique product and a unique solution for a long-standing problem in the blockchain space.

Among the main objectives of Firmo are:

• Be a standard for providing derivatives in the cryptographic space.
• Allow exchanges to be made easily and securely between platforms.
• To be a bridge between conventional and distributed financial solutions.

If you want to have more information about Firmo visit:

WEB: https://www.firmo.network
Telegram: https://t.me/firmonetwork
Twitter: https://twitter.com/firmonetwork
Facebook: https://www.facebook.com/firmonetwork/

Sources consulted

firmo2018

#contest #blockchain #ico #firmo