Whenever blockchain technology is mentioned, what mostly comes to mind is smart contract. The way we conduct our business transaction will forever change with smart contracts. The question that most ponder on is, what is smart contract?
First, a brief historical concept.
In the year 1996, Nick Szabo, an American scientist and a lawyer described the principle of smart contract, long before the emergence of blockchain technology. From Szabo’s description, smart contracts is digital codes of information transfer that use mathematical algorithm to automatically execute a transaction immediately the established agreement is met and that fully control the process.
How smart contract functions
As mentioned above, smart contract is a computer code. The codes are used to enter all the terms of agreement between the parties involved in the transaction in to the blockchain. The participants duties are given in the smart contract in “if then” for example: “if party A delivers on the agreed terms party B transfer money to party A”. participants in the contract can be two or more and they can be individuals or organizations. Once the required conditions are met, the smart contract executes the transaction independently and ensure the agreement is fulfilled.
Where can smart contract be used?
Smart contract can revolutionize many fields. A few industries where smart contract can most effectively be used is highlighted as follows:
About Ethereum limited
Ethereum limited is a decentralized platform that runs smart contracts. The principle of ethlimited is centered on the creation and execution of smart contracts that can’t be breached and assured that the terms of agreement will be adhered to. Ethlimited platform is created to eliminate the flaws of tradition contract system.
Ethereum limited is designed in a way that enables anyone that has access to a computer and internet to create a smart contract with anyone, irrespective of country of residence. Ethereum limited allow allows a user in the US or any other part of world, to create a contract with anyone anywhere in the world without having to meet in person. All the parties involved need to do is to include this terms and conditions in the contract and the smart contract handles the rest.
Advantages of Ethereum Limit
• Ethereum Limited is limited supply, built on Ethereum blockchain.
• Ethereum limited platform is built on the flaws of the current Ethereum platform and it has a lot of great features.
• Ethlimited allows its users to run smart contracts easily.
Features of Ethlimited
• Ethlimited smart contracts acts as multi-signatory accounts, allowing funds to be spent solely when the required number of users involved in the contract accedes.
• Ethlimited smart contract allows agreements to be made between users and ensures that the agreements are carried out religiously.
• Ethereum limited smart contracts brings utility to every other contract.
• With Ethlimited, smart contracts, an applicant’s informations are stored.
Token name: Ethereum Limited
Token symbol: ETHL
Max supply: 10,000,000
Private sales: 800,000
Pre ICO: 5,000,000
Minimum purchase of $100 at $0.7 each
Minimum purchase of $100 at $0.9 each
Minimum purchase of $100 at $1.10 each
Minimum purchase of $100 at $1.30 each
Minimum purchase of $100 at $1.50 each
For further information on the project please visit any of the following links;
Profile Link: https://bitcointalk.org/index.php?action=profile;u=2025917;sa=summary