Firmo: An introduction in plain English for the less technical.

From time immemorial, man has evolved and adapted to his environment, based on the circumstances he finds himself. The same might hold true in almost all endeavours.

There remains a burning need to go a step further, a thirst for knowledge, and in some cases, a hunger to be the best.

source: Wikimedia Commons

Cryptocurrencies have come along way, since the birth of the alpha dog, Bitcoin in 2009.

The crypto space as we know it today is littered with altcoins, too numerous to mention.

The Blockchain hasn't been an exception to the aforementioned scenario. After Bitcoin came the Ethereum Blockchain, which in many aspects, went a step further-but still falls short.

Firmo, as a company has come around to offer a solution.

Who are they?
What are they offering?

Just like many companies/individuals, Firmo identified these lapses and saw that they could lead to castrastrophy, and rather than whine, decided to work on a solution.

The basis of their solution revolves around the foundation of any Blockchain. Securely deploying financial contracts. They are concerned about flaws, vulnerabilities, insecurities that could be taken advantage of, so what did they do?

They wrote their own language....Just like that... Like it was ABC. FirmoLang they call it.

source: Wikimedia Commons

Firmolang is a formally verified, domain-specific language. It's easy to learn (not for you and I obviously, but for the technically inclined).
Compared to the solutions that existed before it, it minimises the margin of error.

When an error is made in the syntax, when working, it alerts the user to this error and prompts him/her to make corrections.

Firmo has also not forgotten about the issue of safety!
The formal verification process ensures that smart derivatives are securely deployed securely, and no lives are put at risk.

Oh, there is this stuff they have going on, called the Firmo Protocol Stock. It enables users to create automated smart derivatives (a type of smart contracts. Smart contracts? Google it! ). These are created by making use of FirmoLang.

Everyone with a vested interest in the Industry also stands to find this solution beneficial.

-Individuals are able to have smart contracts, and carry out trades of these contracts on secondary markets they fancy.

-Exchanges will be able to offer secure derivative products to their customers. Thinking of acting as a clearing institutions or counterparties in any smart derivative contract? It's go free territory for them.

-Traditional financial institutions would gain a massive reduction of operational costs involved in clearing and settlement of derivatives.

Firmo is offering two options at the initial stage:

Deployment of template contracts( a set of templates made in collaboration with exchanges that would be customised to meet their specific needs) and Deployment of customised contracts ( development of customised smart derivatives which can be created when the need arises).

The forward contract and the European Vanilla Option help to allay fears and give a form or security against risks.

The difference being that in the forward contract, the buyer is obligated to make a purchase at an agreed set time, while in the latter, he isn't obligated to. He can chose to exercise his/her option or not when the agreed time arrives.

Incase you couldn't still make much sense of that, Firmo created FirmoLang to stop the bad guys from doing bad stuff on the Blockchain. It also prevent the good tired guys from making mistakes, that these bad guys, or instruments of the bad guys can take advantage of.

If that still wasn't clear enough... I give up! Just forget about it!

To find out more about Firmo, kindly visit their website

To read the Technical Paper, click here

To ask questions about Firmo, contact them Telegram here

To contact Firmo on Reddit click here

To contact Firmo on Twitter click here

To contact Firmo on Facebook click here

https://steemit.com/crypto/@originalworks/200-steem-40-bonuses-sponsored-writing-contest-firmo

firmo2018