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In today’s technologically advanced world, the Internet is blurring borders between countries and people. To some extent, the Internet has brought equality and freedom, but the world is still full restrictions and obstacles.
After its creation, blockchain technology has not only taken the lead in decisions where The reliability, consistency and availability of data are important. It has also encouraged developing crowdfunding and fundraising platforms to make them more effective and available.
Blockchain – Type of distributed register or decentralized database, in that stores digital transaction records. All instances of the database (nodes) are connected to each other via the Internet. Data is synchronized in real time
between the nodes and are visible to everyone on the network. After each digital transaction is processed, it is grouped together with other transactions transactions processed simultaneously in a cryptographically encrypted block.
Then the block is cryptographically confirmed (checked) and added to the block a chain. The key advantage of this technology is that all blocks are connected with the previous block, forming a chain. Therefore, the chain contains the whole history of transactions with the very first (“genesis”) block until the very last one. This gives each member the opportunity to to prove who owns something at any given time. Smart contracts are a built-in Ethereum blockchain tool. Blockchain Ethereum is a decentralised computer that makes it possible to perform complex instructions based on scripts called “smart contracts”.
These instructions are binding on all parties and cannot be overturned, because smart contracts not only define the rules and penalties for the contract, but also are automatically fulfilling their obligations. Tokens – A variety of traded goods, created and managed by smart – with contracts at the Ethereum blockchain. ERC-20 – Standard interface to ensure compatibility between tokens. The ERC-20 tokens are a subgroup of Ethereum tokens that correspond to to a certain standard.
For example, to meet the requirements of ERC-20, smart the token contract must allow all the following operations to be performed:
- total number of tokens
- account balance
- token transfer
- approval of expenses
Traditional banking products and services are archaic and slow because all their bureaucracy and paperwork. In the world of international currency of translations, decentralized databases and smart contracts, people continue to are limited by their geographical location and place of residence. Different laws, currencies and complex taxation make business activities more complex than they are should be, and maybe should be. Lack of integration between financial services makes people to approach multiple intermediary institutions with their own the policy of checks, fees and limits. This can turn a seemingly simple an operation into a massive headache. A site which helps choosing the right site is bestbitcoinexchange – but they also can not offer an overview about all the intermediarys on the market as the number grows daily. The existing projects are mostly Bitcoin Loan Sites – an overview of them can be found on this website.
Our mission is to open up the credit market to everyone. Exactly. so we plan to create a credit blockchain platform. We are committed to helping Users around the world can profit from lending with less the number of risks and problems. We believe that using blockchain technology, we can simplify and make the lending process cheaper by eliminating bureaucracy of traditional banking services.