Like many ideas in the blockchain industry, a general confusion shrouds so called ‘smart contracts’.A new technology made possible by public blockchains, smart contracts are difficult to understand because the term partly confuses the core interaction described.While a standard contract outlines the terms of a relationship (usually one enforceable by law), a smart contract enforces a relationship with cryptographic code.Put differently, smart contracts are programs that execute exactly as they are set up to by their creators. In a simple example, ethereum users can send 10 ether to a friend on a certain date using a smart contract.In this case, the user would create a contract, and push the data to that contract so that it could execute the desired command.Ethereum is a platform that’s built specifically for creating smart contracts. But these new tools aren’t intended to be used in isolation. It is believed that they can also form the building blocks for ‘decentralized applications’.
Smart Contract is basically just a program that runs on a blockchain but it has some exciting potential to reduce the risk and cost of interaction with other people. There are lot of questions like what to do if there are bugs in the code and how governments would regulate such contracts. But, there is exciting potential to disrupt all kinds of industries like law, gambling, online market place, peer to peer rentals, voting and even corporate organization and governments. With that purpose I will demonstrate creating and using a simple smart contract.
Contractium is a decentralized software that runs smart contracts based on Ethereum, which run exactly as programmed without any possibility of downtime, censorship, fraud or third party inteference.
This enables businesses and commercial users to create markets, store registries of debts or promises, move funds in accordance with instructions given long in the past (like a will or a futures contract) and many other things that have not been invented yet, all without a middle man or counterparty risk. This project will be bootstrapped via an CTU token presale in March 2018 by contributors all around the world. It is being developed on Ethereum Platform.
Contractium Network is one of the generation of companies classified as SaaS (Software-as-a-Service) which massively targets three main areas of interconnected business
Contractium software stands to provide various services including:
- SMART SMART CONTRACT LOANS
- DIGITALIZED THE DOCUMENTS AND CONTRACT
- GOVERNMENT SERVICES MEASUREMENT
- CURRENCY AND REPLACEMENT
- MONEY TOKEN TOKEN (CTU TOKENS)
In the projected Contractium ecosystem, two or more local and / or international users can make commercial smart contracts easy to interconnect with each other, followed by the payment stage. Payments can be easily made through the integrated crypto payment gateway system which is done with a very safe and reliable method after successful contract completion, the contract party can easily issue a reward that can be “cash back” to each other with easy tokens termed Crypto- Reward is much more efficient, fast and advanced than the traditional customer-loyalty points system. All of this will be possible with “CTU Tokens” which is a crypto-fuel contract issued by the Contractium Network and will enable the development of Contractium.
The CTU token is the main fuel of the Contractium network. which enables the full development of the Contractium Foundation. To support the future of blockchain, smart contracts, companies with continued ICO (Initial Coin Offering), as follows CTU details:
Total supply: 3,000,000,000
For sales: 1,500,000,000
|TOKEN ROLE||Faciliating the transactions in the contractium network digitally. Enable and verify the smart contract for general users easily & securely.|
|ICO PRICE||01 ETH = 15,000 CTU|
|PRE-SALES & ICO||900,000,000|
|CTU TEAM & PARTNER||300,000,000|
|BOUNTY & MARKETING||200,000,000|
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