CONFIDEAL: THE PLATFORM TO CREATE INTELLIGENT CONTRACTS
Intelligent contract creation is an activity that can be done manually through Ethereum's network. However, this requires extensive programming experience. This is why Confideal has been created, an initiative capable of getting its users to create intelligent contracts, without the need for them to have a lot of experience programming.
In other words, Confideal is a platform created on Ethereum's network that aims to facilitate the creation of intelligent contracts without the need to have a great experience in programming or that must resort to third parties to achieve it, giving more independence to its users.
"Confideal is a service for anyone, from large and small companies to individuals. It is designed to enable people without programming knowledge and legal expertise to create and deploy intelligent, self-executing contracts in the Ethereum blockchain environment."
Confideal
To use this platform, you need Google Chrome and download Metamask, in order to be able to work. This is because the application must be connected directly to Ethereum's blockchain in order to guarantee security and decentralization.
It can be done through special browsers such as Parity and Mist, but these require downloading and installing a full node. The MetaMask extension for Google Chrome is the simplest solution and, in turn, serves as a direct tunnel between the Ethereum network and the smart contracts created.
USE CASES
Confideal is aimed at independent individuals, small businesses, large companies and the cryptographic community in general. For each of these sectors, the initiative may offer specific use cases:
For the cryptographic community, Confideal offers the possibility of creating contracts for ICOs, creating customised ERC20 tokens, an affiliate system and online services; for independent individuals, it offers the possibility of creating freelance jobs, renting an apartment or car and being able to use other cryptocurrencies such as collateral tokens.
In the case of small companies, Confideal can be used for the creation of international and internal exchanges, to make payments and to enable companies to generate offline services. Finally, large companies can use the platform to conduct internal negotiations, create long-term contracts with deferred payments, shackled contracts and multilateral contracts.
"We hope that Confideal's first users will be people and companies that are already involved in businesses based on cryptocurrencies, because they are more aware of the advantages of this technology."
Confideal
More specifically, miners can create equipment supply contracts, leasing contracts for mining power in the cloud. Blockchain-based companies can use contracts to provide services or employment contracts. Exporters and importers can make international supply agreements with intelligent contracts, and real estate agents can use a custody service based on cryptocurrencies.
Cases of use of Confideal
In turn, the initiative team believes that blockchain technology and, in turn, the use of smart contracts will be massively adopted in the future. For this reason, they are also willing to innovate in other areas, opening the possibility of being able to make international deliveries of merchandise using GPS trackers, a mechanism that opens the possibility of generating independent jobs safely without involving third parties, among other possible uses of the platform.
ICO
The initial sale of tokens of the initiative has been a little particular. Initially scheduled for November last year, it was not as successful as expected. Only 303 ETHs were sold, a figure well below the 70,000 ETHs they were trying to raise.
The initiative explained that there were several reasons for this situation. Among them the general state of the market at that time, where the fear of scams that could be financed through ICO was quite high. Also the volatility of the market, which during those dates led to many investment risks. According to Confideal, some mistakes they made in promoting the sale of tokens had a negative impact on the previous collection.
In spite of this, the initiative is still ready to launch its product on the market, so from November to the present they have been in charge of improving their proposal and have put corrective measures to the aspects that should be improved. This means that Confideal's team now has enough confidence to launch another ICO on March 1st, with which the initiative will be sufficiently appealing and secure for its potential investors, taking measures to assure taxpayers that their token does not lead to a scam.
To find out more, you will need to access Confideal's official website or its official medium blog.
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