Is Etherparty the Smart Contract Platform of the Future?
A smart contract is a computer protocol designed to help users exchange assets in a transparent, conflict-free manner without requiring the services of a lawyer or other middleman. As more and more people are becoming aware of the potential of smart contracts, their popularity is growing.
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In particular, we’ve witnessed a notable growth in the demand for ‘DIY smart contracts’ as businesses look for new ways to improve their processes. As a result, there has been an influx of smart contract usability projects that have hosted their own ICOs.
Popular Smart Contract ICOs
Qtum describes itself as ‘the blockchain made ready for business’. It aims to launch the first Value Transfer Protocol (VTP) designed to streamline daily business routines.
The platform aims to reinvent the way smart contracts are viewed, developed, and used. It plans to become the first blockchain platform to allow next-gen decentralized applications to become a reality and allow developers to build smart contracts for Qtum using popular, mainstream programming languages.
In March 2017, the Qtum crowdsale raised over 10,000 BTC and 72,000 ETH (the equivalent to approximately $15.6 million) in less than five days, making it one of the largest crowdfunded projects of its time.
NEO, formerly known as Antshares, is commonly referred to as ‘China’s Ethereum’. It has a number of huge backers, including the likes of Microsoft, Alibaba, and even the Chinese government.
The platform combines smart contract applications with decentralized commerce, digital assets, and identification.
The NEO token saw huge success following its ICO back in August 2017. In January 2018, the price rocketed up past $180. This severe over-evaluation was probably a result of the inflated prices of other mainstream cryptocurrencies, such as Bitcoin and Ethereum.
However, it has since dropped in value quite significantly and stabilized at $18. This steep price crash is likely a result of all of the criticism that the platform has since received. Many people have complained about NEO, suggesting that the network is extremely centralized and that it has an ‘alarmingly small number of smart contracts’.
Etherparty is another platform that is attempting to simplify the way we create, manage, and execute smart contracts. It has an extremely simple interface and requires no programming skills to use. The platform has been in development since 2014, and the progress is fully available for the public to see. During its token sale that ran from October 1 – 29th 2017, it raised over $33.7 million – 52% of its overall $65 million goal.
Following this token distribution event, Etherparty is just beginning to roll out their solutions to the public. Their recently released platform known as Rocket allows users to launch their own token distribution event in a matter of minutes. It includes everything they will need to get started, from consultation and guidelines on token economics and white paper writing, to the development of that project, to marketing best practices. The platform even tracks the progress of token sales and offers potential further recommendations.
There are also two additional platforms in the pipeline. Hero will bring the benefits of blockchain technology to charitable giving, while Saturn plans to combine blockchain with supply chain management to bring more transparency to the flow of goods and services.
Etherparty’s FUEL token
FUEL is the central asset that powers all of Etherparty’s smart contract products. Etherparty is building easy-to-use, versatile and intuitive smart contract solutions to catalyze a wider adoption of blockchain in various industries. As the team works on a more diverse pipeline of smart contracts, the use of FUEL will expand, and we will begin to witness some significant gains in the FUEL token over the next few months.
Future Developments of Etherparty
Despite being around for a while, it seems that Etherparty is just beginning to gain traction.
Recently, Etherparty announced its plans to integrate the Qtum blockchain into their Rocket Crowdsale Platform. This will make it significantly easier to tokenize and launch crowdfunding contracts on the Qtum network.
Without a doubt, there is a growing market for smart contract solutions that are easy to implement. The competition to fulfill this market is fierce, but so far Etherparty seems to be in pretty good stead to hold its ground. For prospective investors in search of a good long-term opportunity, Etherparty could be the startup they’ve been looking for.
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