Sunday, February 5, 2023

Agrello Decides to Develop Its Smart-Agreement Solution on Ethereum

Agrello Decides to Develop Its Smart-Agreement Solution on Ethereum

Legaltech startup Agrello, a blockchain developing business-ready smart agreements, has made the decision to develop their blockchain on top of Ethereum rather than Qtum.

Also Read: R3 and Singapore Testing Local Currency on Ethereum

Homesteading Ethereum

The decision to develop on top of Ethereum is a change from their initial plans, as they had previously chosen Qtum over Ethereum as the infrastructural backbone for the project.

Apparently, however, the Agrello team determined that the Qtum blockchain platform is not currently up to snuff, seeing it as unready to support the complex app.

Agrello explained their decision in a blog post, citing several reasons — chief among them being Ethereum’s highly-developed and mature ecosystem. This by itself seems to be the main driver of Agrello’s decision. They specifically mentioned the Ethereum Foundation’s efforts to overcome regulatory hurdles as an example of its maturity.

In addition to this, they also said another important factor in the decision was the amount of developer talent on Ethereum compared to other blockchain platforms.

Moreover, although they’ve made this switch, they still plan to be compatible with Qtum as well as a host of other blockchain ecosystems such as Metaverse, Antshares, Lisk, Qtum, RSK, Ethereum Classic, and NEM — as it is “important for [them] to emphasize that Agrello believes in a multi-chain future.”

Agrello: ICO and Background

As part of their move to develop their system on Ethereum, Agrello will be operating and offering up an Ethereum-based token — basically meaning that the app will backed by ether.

They plan to issue these tokens in an upcoming ICO, whose precise date seems to be currently up in the air. However dates it at some point in July.

Agrello’s purpose and use case is to help laymen create legally-binding smart contracts without having to be a professional coder or lawyer.

Users will be assisted by an AI counselor, or an “intelligent agent” guiding them through their contract and notifying them on their legal obligations and rights

The project utilizes belief-desire-intention (BDIs) software models in their project, modelling autonomous intelligent agents on the basis of presumed beliefs, desires and intentions, enabling those agents to choose a course of action according to these presuppositions and changing rules that are set by the agent’s environment.

What do you think of Agrello’s decision to switch from Qtum to Ethereum? Let’s hear your thoughts below.

Images Via Agrello and Ethereum

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