Fabric Token

What is it?

Fabric Token is a platform that was designed to empower and encourages individuals with fast, stress-free access to various blockchain technologies. It does this with the help of its software that comes with a user-friendly interface. The Fabric Token platform was designed to help individuals to develop and launch various decentralized applications without the assistance of specially designed computers.

(Image Source : https://fabrictoken.io/)

The Fabric Token platform or ecosystem was designed to ensure that numerous industries that use smart contracts can get quick access to it, thereby solving certain industry problems.

Practical Uses

Currently, there are people who still consider blockchain as an experimental technology. Most of those who are ready to get involved or adopt blockchain technology find it very difficult to do so. Also, because of the complexity of smart contracts, most people find it difficult to fully understand how it works. This technicality is one of the problems of blockchain technology. Also, lack of trust of various organizations makes vital information difficult to trace. To solve these problems mentioned above, businesses or individuals that have adopted blockchain technologies most times pay huge sums of money to IT specialists'.

It is interesting to know that the Fabric Token platform was developed to solve these problems mentioned above. The platform ensures that individuals and businesses get fast and reliable access to various blockchain technologies and smart contracts. One of the practical uses of the Fabric Token platform is to help businesses and individuals make various payments on the platform.

Features

The Fabric Token platform has four main features or components that make it up. They are:

• The Fabric Token: this is the feature or component that ensures that individuals can make payments on the platform. Also, this component will be used as a digital currency by the developers. It can be exchanged between users and developers of decentralized applications on the platform.
• Fabric Store: this component of the platform will allow individuals that develop decentralized applications on the platform to gain tokens and also build a reputation on the platform. This can be done by either complementing decentralized application workbench or Tokengen with the assistance of specially built software.
• The Tokengen: this feature of the platform will allow all users to create smart contracts for tokens. This will be made possible if users follow an already outlined process that includes filling out various details.
• Decentralized Application Workbench: with the assistance of a process called "modeling", businesses and their owners can create or build smart contracts. This component will ensure that there is a free workflow of multiple blockchain technologies. This component will give individuals the insight to develop automated businesses. These insights include the design process, testing, monitoring etc.

Pros:

• It was designed primarily to solve blockchain technology adoption problems
• Its Fabric Token components ensure that business can transfer money quickly
• It is a secure platform
• It was developed by a team of dedicated and innovative developers.
• Offers smart contracts

Cons:

• It is not yet available
• Limited blockchain technologies