Etherparty is one of those tools that allow us to create smart contracts in blockchain. It eliminates complexity of developing, managing and executing smart contracts on any blockchain platform and makes it rather easy. The platform is developed in such a way that even a novice can create an enforceable, self-executing digital agreement for any transaction according to his wish. One does not need to be a domain expert or a seasoned programmer and the user do not have to understand the complexities.
Etherparty is planning to launch and get adopted by small businesses, new enterprises and consumers. They have this particular lot because these kind of people lack the expertise to write codes and execute a smart contract and also they don’t have to deal with the horror of writing codes on their own. This is a promising step towards future as many people keep away from smart contracts solely due to the lack of knowledge and technical knowhow. Etherpary can easily fill these unique gap with ease.
Etherparty has also partnered with Enterprice Ethrium Alliance. This is crucial because with a rock solid backing like Enterprice Ethrium Alliance, Etherparty has chance to accelerate adoption of smart contracts to the real world.
How Does Etherparty Work?
What Etherparty does is that it helps you to create a smart contract by using a preconfigured smart contract template. The template allows you to customize it in according to the needs of the customer. Then the template is directly launched into the Etherium blockchain. In this case the person the technical knowhow or the technical expertise can create a smart contract without even writing a single line of code. this will make blockchain go further deep into our community, as up to date, only experts could create such smart contracts.
Since Etherparty uses templates for smart contract production, the Etherparty platform will host a variety of smart contract templates in a library of its own aimed at a plethora of industries. They include banking and finance sector, healthcare sector, real estate field, regular trading, insurance sector, supply chain management, foreign exchange trading etc. those who wants to use a template can acquire it by accessing it using the FUEL coin and launch their own smart contract.
The FUEL Coin
FUEL tokens are the heart and soul of Etherparty. FUEL is a transferable ERC-20 compliant digital token which has been deployed on the Ethereum network and is now used as the in-app currency that powers the Etherparty platform. The FUEL coin manages contract libraries, security testing, monitoring, network fees etc. one billion FUEL tokens will ever be created. Ten percent is allocated for Etherparty. Five percent will be to the team, five percent to be sold on the platform and ten percent to incentivize clients, beta testers, enterprise clients and community.
Etherparty has given itself the goal to completely digitalise the way in which enterprices and individuals do business. it will be interesting to see how this platform fares on the international blockchain market in the forth coming years.
Cryptocurrency is becoming more and more popular nowadays and the rate of cryptocurrency adoption is at all time high. It is expected that the usage of smart contracts which are automated will be the norm of the companies and individuals in the coming years. If all the plans workout and smart contracts increases, we might see a sharp increase in the value of the FUEL token. With the team that is behind Etherparty, their ambitious goals suddenly seem to be achievable. With such strong team and advisors backing them up, the future for Etherparty looks bright. However, before investing in this currency, individuals should do a bit of research on their own in order to assess the pros and cons of the associated platform.