Smilo set to develop the first hybrid blockchain platform

 

Smilo is few of many blockchain project that intend to improve on the sustainability of already existing blockchain technology by combining the dual properties of public and private blockchain on the same Network. We have seen a lot of decentralized blockchain network which are being developed today and one of most used blockchain network is the Ethereum blockchain. Many of these blockchain Networks are completely decentralized which make it possible for anyone to publicly check information relating to transaction details, Smart contract information etc. As good as these public blockchain Networks are, there are limitation to their usefulness. This is because they may not be suitable for some business sectors that may not want anyone to access information relating to the sector publicly without diligent permission.

We all know how important it is for medical record to be kept secure. Blockchain technology is one of the best technology that can handle medical details safely but due to decentralized nature of the most blockchain Network that give anyone access publicly to view information about public address and smart contract, it become suicidal to keep medical records on such platform. Similarly, most time, public donation services are being presented with some donors who do not want to reveal their identity publicly but want to see information about how their donations are being used. Existing blockchain might not be able to handle that.

Smilo present a new approach towards bringing private and public sectors closer to new and improved Hybrid blockchain platform that combine both private and public functionality. Smilo platform will support creation of hybrid (i.e. public and private) Smart contract, transaction and decentralized application (Dapp). Already existing blockchain platform only allow users to implement private or public smart contract code but Smilo hybrid platform will allow blockchain developers to combine both public and private smartcontract in building decentralized application (Dapp).

 SMILO CORE TEAM

The concept behind Smilo hybrid blockchain has been concealed by the founder Mr Elkan Roelen that has seen early how existing blockchain platform cannot offer users with private smart contract and Dapp despite the fact that they all preach anonymity. Today the idea has germinated and the project is currently being managed by group of seventeen core team members that have broad knowledge and experience in their respective professions. Aside the core team members, Smilo have capacity to tap from skills of over 200 freelance programmers and developers around the globe. 

The Smilo Platform which will be open source will use two type of token (Smilo token [XSM] and Smilo pay token [XSP]) that will be responsible for propelling of the Smilo network. The Smilo token denote the token giving to users as their personal share in form of investment, this token shall be offer for sales during the initial coin offering that is currently ongoing. The Smilopay token is the other token which will be used on the platform for payment of service fee and general upkeep of the Smilo blockchain. The services fees which are being pay by users will be distributed among Smilo token holders on the platform. However, transaction fee will not be charged during the pre-launch. 

In order to attract more users to Smilo platform, it is very important to keep the transaction fee low and this will create complete healthy economy between Smilopay and node creation on the network. Smilo will grant node owner fair competition for proper upkeep of the platform and also, node owners will earn extra smilopay when they perform execution of smart contracts, registration of new tokens and for other executions.

SECTORS THAT MIGHT CONSIDER USING SMILO

Smilo platform will be accessed through both the light client and the full node client. The two clients will be available on windows, Linux and Mac operating system. The multiplicity of the functions depends on the client. The full node client which will be the best for developers will allow installation of private and public smart contracts. The web client is the light version. It doesn’t allow storage of private keys. Smilo is planning to support hardware wallet in the future for the web and light client. For more information regarding Smilo, you can visit the website on www.smilo.io. Further resourceful information about the project can be found on the whitepaper which can be downloaded directly below

For public announcement about token sales and other related news, you can visit some of the Smilo social media pages provided below

Medium | Facebook | Twitter |  Linkedin | Reddit | Bitcointalk |