The real essence of blockchain and cryptocurrency is to distribute decision-making powers from central authorities and big powerhouses through decentralization. One of the more interesting features of cryptocurrency is that it can’t be controlled by any middlemen or authorities. On platforms like Bitcoin network where the framework is peer to peer, the transfer of real value does not require the contribution of any central power, since exchanges are approved by a distributed set of miners that exist on the system. Sadly the concept of decentralization which exists as the basis of cryptocurrency has not been completely adopted in cryptocurrency exchanges. Majority of popular exchanges with massive trading volumes are designed on centralized framework rather than on decentralized framework.
Decentralization, use of the blockchain and the digitalization of the firms guarantee that the users gain a great experience. The platforms help the users to maintain their privacy, transact faster and save cash. This is due to the fact that most of the transactions done are transparent and they can be traced. With the growth of cybercrimes, the use of distributed ledger technology. The world has witnessed an overwhelming interest in Blockchain across various industries across nations, from tens of hundred new startups, to dedicated blockchain labs showing up in both commercial and federal institutions, or to multiple consortia established for solving major challenges of their industry.
WHAT IS BLOCKCHAIN
According to wikipedia, Blockchain is originally known as bloc chain, It is a growing list of records known as blocks which are linked using cryptography, each of these blocks contains a cryptographic hash of the initial block, a transaction data and a time stamp.
Since its emergence in the year 2008, when Nakamoto satoshi discovered and introduced bitcoin, there have been serious efforts to integrate the blockchain technology into several aspects of various process of global business , The blockchain technology has been described as having the potential to disrupt many industries with immutability, low-cost transaction, and enhanced maximum security. So many other blockchain implementations have been deployed and developed with unique features designed for specific use-cases.
The blockchain technology has made possible to issue assets through a distributed ledger framework. With cryptocurrency tokens, Assets can be given economic value in order to validate and initiate transactional processes.
INTRODUCTION TO SMILO
The world has witnessed an overwhelming interest in Blockchain across various industries across nations, from tens of hundred new startups, to dedicated blockchain labs showing up in both commercial and federal institutions, or to multiple consortia established for solving major challenges of their industry. Blockchain technology retains a great level of detail in its records for all financial and non-financial transactions made. Blockchain technology minimizes the chances of misinformation or manipulated information being distributed across the network. One of the best parts up for discussion about public blockchain is that it’s generally not governed by one particular entity. Each participant or entity gets the opportunity to share or generate copies. While some see it as strength, it is also viewed as a big disadvantage as few might claim it’s not secure enough. Fortunately, Blockchain technology can be utilized in three different ways—public, private and hybrid. While much has been said and discussed public and private blockchain, hybrid blockchain technology still remains untouched and is comparatively a ‘fresh’ term.
SMILO HYBRID BLOCKCHAIN
Smilo is a revolutionary “hybrid” blockchains platform that will be able to host hybrid transactions, smart contracts and decentralized applications. Low power consumption will ensure the sustainability of the Smilo blockchain, making it eco-friendly. This is achieved with a hybrid consensus mechanism that is based on the Proof of Stake (PoS) and The Byzantine Fault Tolerance Plus (BFT+). Meanwhile, a unique Smilo Network Protocol (SNP) will ensure scalability, enabling to create a network that is 100 times faster than Ethereum. Smilo will feature low fees, total decentralization, and complete Ethereum blockchain and smart contracts compatibility. Smilo blockchain eliminates the mistakes of its predecessors, as well as bringing blockchain technology closer to mass adoption. Smilo blockchain platform can power both private and public blockchain networks and Decentralized Applications. The Smilo team states that their goal is to develop a full-featured blockchain platform that will host hybrid transactions, smart contracts, and decentralized applications. The developers claim their solution can be adopted in the following fields: medical sector, product tracking, the insurance industry, logistics, etc.
Smilo uses a unique and self-made The Byzantine Fault Tolerance Plus (BFT+), BFT is the same as Proof of Stake (PoS) faster and more efficient, but both were not perfect. The standard BFT and PoS mechanism is not the safest consensus mechanism. For this, Smilo has improved the standard BFT mechanism by creating a unique Smilo BFT + consensus mechanism. The mechanism is fully safe, measurable, fast, and sustainable transactions. So that with this Smilo has many advantages including
Transparent: Users can monitor transactions more transparently, By using this technology
Anti Corruption: With transparency, it can minimize or even eliminate acts of corruption in each transaction
Sustainable: Green blockchain platform via Smilo BFT + protocol.
Privacy protection: Through smart contracts and hybrid transactions
Secure: Smilo’s BFT + offers better security than the previous mechanism.
Fast and Scalable: This platform will be 100 times faster than ethereum or other platforms
Affordable: Smilo provides transactions with a much cheaper fee
THE SMILO TOKENS
The system will employ two tokens: Smilo token (XSM) and SmiloPay token (XSP). The Smilo tokens are an integral part of the Smilo network. They represent users’ personal shares and power to influence the network. SmiloPay tokens will be used to pay all service fees. Used as a service fee to register or change assets. This service fee will then be distributed proportionally to all Smilo owners, which means that SmiloPay will be circulated through the system.
Token Name: Smilo Token
Token Symbol: XSM
Total supply: 200,000,000 XSM
Tokens for Sale: 84,960,000
Price in ICO: 1 Smilo = 0.25 USD
SoftCap: USD 2,500,000
HardCap: USD 18,000,000
ANN Thread: https://bitcointalk.org/index.php?topic=5039760.0
Author : walesodiya
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