SMILO, BLOCKCHAIN PLATFORM with a conscience

November 12, 2018 yarisloksyun 0 Comments

Welcome my friends. I want to introduce you to a unique and promising project Smilo is a hybrid blockchain platform that guarantees transparency while protecting individual personal data. Smilo uses a blockchain technology base where it can maintain the privacy of each individual data while ensuring full transparency of the organizations that interact with each individual. Smilo identifies the need for a hybrid blockchain platform. Give this public entity the right tools.

Smilo places full-hearted service on every user, so it’s called a hybrid blockchain platform with a conscience, this is because:

Full feature

Unique

Can facilitate hybrid transactions, hybrid smart contracts and hybrid decentralization applications — with ‘hybrids’ that refer to the public and the private sector

ADVANTAGES OF SMILO

Smilo uses The Byzantine Fault Tolerance Plus (BFT +), BFT is the same as Proof of Stake (PoS) faster and more efficient, but both are not perfect. The BFT mechanism and standard PoS are not the safest consensus mechanism. For this, Smilo has improved the standard BFT mechanism by creating a unique Smilo BFT + consensus mechanism. This mechanism is fully safe, measurable, fast, and a sustainable transaction. So with Smilo it has many advantages including:

1 Transparent: Users can monitor transactions more transparently, using this technology

2 Anti Corruption: With transparency, it can minimize or even eliminate corruption in every transaction

3 Sustainable: Green blockchain platform via the Smilo BFT + protocol.

4 Privacy protection: Through smart contracts and joint transactions

5 Safe: Smilo BFT + offers better security than the previous mechanism.

6 Fast and Scalable: This platform will be 100 times faster than ethereum or other platforms

7 Affordable: Smilo provides transactions at a much cheaper cost

USE OF THE PLATFORM

some examples of cases using the Smilo platform are:

ELECTION

Smilo facilitates safe and personal elections or referendums, overriding post-election influence.

DONATION

Facilitating donations and ensuring anonymous donors that money will be spent in a respectful way.

MEDICAL RECORDS

Individual medical records are owned and managed by themselves and shared with medical institutions and insurance companies on request.

ECONOMIC NETWORK

There will be two types of tokens that move networks on this platform:

Smilo (symbol abbreviated: XSM): generated by Smilodon block — the first block of the blockchain, is a representation of shares held by the user,

SmiloPay (symbol abbreviated: XSP): generated every block following the Smilodon block, is media to pay for network services and maintenance costs for Smilo

Having a Smilo token holder has the right to receive dividends in the form of SmiloPay tokens.

Smilo

This token represents the user’s ability to influence the evolution of the Smilo network. Each Smilo token is counted as sound, so the more Smilo tokens you have, the greater the impact on the evolution of the Smilo ecosystem.

The Smilo token holder has the following privileges:

Receive SmiloPay

Voting for changes in network parameters

Change the price of Tx fees

Change the price of implementing a smart contract

Change the price of applying smart contracts

Each block of the Smilo blockchain generates twenty SmiloPay tokens, which will be distributed among Smilo holders. The SmiloPay amount per block will decrease slowly, because there are only 200 million SmiloPay tokens,

SmiloPay

SmiloPay tokens are used to pay for network services and maintenance costs for Smilo. Used as a service fee to register or change assets. This service fee will then be distributed proportionally to all Smilo owners, which means SmiloPay will be circulated through the system.

Initially, there will be no direct transaction fees for using the network and all token holders will receive a maximum amount of SmiloPay per block. SmiloPay tokens will be generated with each new block made equivalent to the total number of Smilo tokens in circulation, up to 200 million. Each block can produce 20 Smilopays, and these tokens will be distributed proportionally between Smilo holders. And after millions of the first Smilo blocks are generated, SmiloPay prizes will decrease slightly. After the SmiloPay token stamp reaches 200 million, the block will stop producing SmiloPay tokens. This is intended to keep transaction costs low to lead to more Smilo users, which in turn leads to more registered assets and transactions, and thus generate more costs paid to the node.