SMILO: THE HYBRID BLOCKCHAIN PLATFORM WITH A CONSCIENCE.

jamesndungu (61)in #smilo • 6 years ago

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Blockchain technology holds the key towards open governance, which is a system that is needed towards improving how people work together with use cases such as elections facilitation, private and public donations, health-care records and also the way public tendering is done.

A Practical Application of Blockchain In Open Governance.

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There are so many blockchain networks offering similar services, but there is one project that stands out - SMILO, which is a hybrid blockchain and this chart compares SMILO blockchain with others in order to see its competitive advantage.

The chart above clearly explains SMILO competitive advantages which lie on language support where developers building on the blockchain will be able to migrate existing applications to and from Ethereum network which is the main application blockchain at the moment, through Solidity, one of the widely used smart contracts programming languages developers will find it easy in the adoption and understanding of the SMILO blockchain.

SMILO Is a blockchain that is truly transparent, a condition that is needed in order to allow transparency and immutability of public and private records. Traditional methods included centralized systems that were not publicly visible and could be altered in favor of the beneficiaries. SMILO Transparency originates from its decentralized nature.

With Consensus mechanism being a problem in blockchain networks, SMILO addresses this concern through improvement of its proof of work mechanism by introducing its own SMILO Byzantine Fault Tolerance (BFT) onto its consensus mechanism in order to improve its network transaction speeds, scalability of its network and also secure its network.

Through an improved consensus mechanism, SMILO blockchain is highly scalable compared to existing blockchain by implementing solutions such as sharding and off-chain processing of the transaction and also being able to accommodate side-chain networks.

Comparing with other blockchain networks, SMILO Blockchain has its competitive advantage in areas such as privacy through on-chain privacy features, sustainability, scalability, consensus mechanism, and language support.

So how does SMILO practically work?

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SMILO is applicable to many mainstream fields such as the medical sector, the social funding environment, products tracking, the insurance field, public and private sectors, logistics, escrows, and Identification management fields.

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Developers can be able to build their applications on the SMILO blockchain that is open source and decentralized in nature and benefit from the SMILO blockchain features that will allow their applications to process both private and public transactions through the use of hybrid smart contracts.

Developers can benefit from SMILO blockchain features and use them on their applications without limitations, they include hybrid smart contracts that will allow private and public transactions processing, hybrid decentralized applications that are transparent and secure.

Developers will find SMILO blockchain unique because they will be able to deploy private and public applications on the same blockchain. Businesses adopting SMILO blockchain will be able to benefit from a decentralized, trustful, transparent and private technology without the need for intermediaries.

An example of a use case in Government structures.

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As an individual who has participated in government tendering process, I have taken a serious look at how SMILO Plans to address the challenges in the tendering process. One of this solutions is allowing Governments to create immutable tenders with requirements that are immutable and public in nature.

Since the SMILO blockchain can be able to handle a private and public transaction, bids can be sent in a private manner and kept private until the process is complete, candidates can be assured their applications cannot be changed and are private.

After the tendering process is complete the government can publish the results for all parties involved to review them and evaluate the whole tendering process and selection. This will make it easier for the public and the government to audit the process and instill confidence in government operations through integrity processes and privacy.

SMILO Token Distribution.

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Conclusions.

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SMILO protocol (SMILO BTF and SMILO proof of Resource and Time, and the many competitive advantages highlighted on this blog entry, I do believe that SMILO will attract a wide user base that will ensure that the platform is implemented. With its hybrid features, the platform is scalable, fast, secure and can allow transaction processes at a low cost. It's my belief that SMILO is a hidden gem and its the reason I’m inviting you to check out on the projects whitepaper, social media pages on the links below.