The more licences that are issued, the more tokens are burned and taken out of the overall supply, theoretically pushing the token price higher over time.
What it offers is simple to explain, yet super-powerful nonetheless — it allows every company to create its own token or cryptocurrency. Co-founder Kyle Lu says: “Decentralized apps usually start from issuing a token or building a smart contract on a public blockchain. Also, this move gives Simple Token an access to a sophisticated software stack, vibrant community, and ever more liquidity. “As a result, the data on a blockchain is resistant to any single point of failure.
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- Whitepaper currently being written
The platform runs on the XDC and XDCE tokens which are used for transactions within the network and are also tradable with other cryptocurrencies in the market.
There is no fee to use the platform, the dApps only need to hold tokens based on users’ computational and storage needs, like a deposit. [Short general description]: QuarkChain is an innovative permissionless blockchain architecture that aims to meet the global-wise commercial standard. The team behind Simple Token has published the core code that drives the creation of branded tokens as an open-source protocol called OpenST. The token is not necessarily a share in the venture but could instead be used to access products and services in future.
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XAIN AG won Porsche’s Blockchain Innovation Contest last year, partnering with the sports car firm to pilot blockchain technology for car access and user profiles.
So without further ado, here are 5 things you should know about Simple Token. And secondly, the private network state is maintained in its respective network but a record (hash) of transactions and smart contracts is stored on the public state of the blockchain. It will run on blockchain technology, the underlying decentralised computing platform used by bitcoin and other cryptocurrencies. The following video highlights the key features of the platform: Simple Token has already scored a few member companies, including Gushcloud, XAIN, InterviewBit, Digital Knights, Pepo, Floship and Vidi-VR.
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Simple Token’s own cryptocurrency, marked as “ST“, is an ERC-20 token on the Ethereum mainnet that will be freely tradable with a value that fluctuates.
Some are developing and experimenting with novel consensus mechanisms and new blockchain technologies. The funds from their token offering are being reinvested in software development. As an example, Simple Token asks us to imagine a digital music service issuing a branded token called SongCoin. Blockchain technology underpins bitcoin as a currency as well as other types of cryptocurrencies such as ether or ethereum.
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The protocol aims to enable developers of all levels to issue tokens and create smart contracts, by supporting multiple programming languages, from Lua, C++ to Java.
Hedera Hashgraph is not strictly a blockchain protocol: it relies on the use of a distributed ledger, but ledger entries are not structured into a series of interlinking blocks. Simple Token has launched its public token sale (“ST” tokens) on November 14, inviting all interested parties to register at sale.simpletoken.org. In other instances, the coin can be a utility token that offers future access to the application’s products and services. It’s the only blockchain based on a “Proof-of-Capacity” (PoC) consensus algorithm.
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If you are interested in learning more, you can check out the Simple Token project website and review the 58-page Simple Token Project Deck / Whitepaper.
[email protected] © 2018 Ingello Crowdsale closes on August 13, 2018 Simple Token is one of those super-promising projects that we fell in love the second we saw it. For every software licence sold, Faceter must burn, or destroy, a token to obtain an access key, which allows the customer to access the service. And, for instance, use Simple Token to power their loyalty program. London-based essenceProtocol has developed a blockchain platform focused on storing media content in a distributed manner. San Francisco-based 0Chain has developed its n-dimensional, deterministic, Byzantine DPOS blockchain technology to offer high security enterprise-grade cloud storage for distributed applications (dApps).