How does Smart Contracts work on Freelanex? The FreelaneX smart contract will be stored in a decentralized blockchain, and is legally binding to all parties. Due to the distribution warehouse protocol, each process within the network will be recorded in a transparent, publicly verifiable manner, with full counterfeit protection.
Smart contracts are defined as self-executing contracts written in solidified encryption code. According to the Ethereum protocol, this code is used to complete and accelerate mechanical aspects of various systems to create a smart contract. This is done to explain data instructions entered essentially and, as a result of these inputs, protects the rights of all parties involved in the system.
The Freelanex smart contract will be stored in a decentralized blockchain and is legally binding to all parties. Due to the distribution warehouse protocol, each process within the network will be recorded in a transparent, publicly verifiable manner, with full counterfeit protection.
There is a proven and strong incentive for taking control of existing central services and finding alternatives in a world that is moving faster and faster. The implementation of the main tool in this area of decentralization, the smart contract, significantly enhances and protects user data in a transactional sense and also makes way for seamless connectivity.
As contract terms are automatically executed upon transaction completion, payments are also automatically released when the system verifies that all data points have been justified, as per the entered smart contract.
Freelanex is here to offer a new solution to the mutual exchange movement, which will be enhanced by smart contracts, ensuring customer security and effective access.
The smart contract includes and guarantees the following interactions between counterparties:
- Guarantee of contract.
- The buyer starts buying through a smart contract.
- Freelanex to protect the funds required in the buyer’s account.
- Seller will deliver the product.
- Within a limited period of time, the buyer shall examine the product and accept or make a decision in terms of the transaction.
- After transaction approval, funds are transferred to the appropriate accounts.
Freelanex Token Economics
Freelanex is a platform dedicated to the enhancement and promotion of the freelancer environment by using the blockchain to adopt transparency for activities and transactions.
At Freelanex, we are designing a cryptocurrency based on definitive market rules and fundamental economic principles.
While, the FLXC Token is an Ethereum based token under the ERC20 standard. The premise of the token FLXC is utility based, designed to route the Freelanex payment system and related applications. The FLXC token will be created as a major currency in which community participants use to cash in and out of transactions taking place on the platform.
FLXC reconciles a high performance protocol with an efficient dispute resolution system, integrated KYC/AML compliance and price stability features.
Freelanex is a platform dedicated to the enhancement and promotion of the freelancer environment by using the blockchain to adopt transparency for activities and transactions.
At Freelanex, we are designing a cryptocurrency based on definitive market rules and fundamental economic principles.
While, the FLXC Token is an Ethereum based token under the ERC20 standard. The premise of the token FLXC is utility based, designed to route the Freelanex payment system and related applications. The FLXC token will be created as a major currency in which community participants use to cash in and out of transactions taking place on the platform.
FLXC reconciles a high performance protocol with an efficient dispute resolution system, integrated KYC/AML compliance and price stability features.
The number of FLXC tokens issued is fixed and no more tokens can be ever issued, which is guaranteed by the FLXC Token Smart Contract. FLXC tokens are optionally involved directly in transactions taking place on the Freelanex platform.
*Nb: IEO Freelance is launching on P2PB2B and Shortex
Main Reference Source
- Website: https://www.freelanex.io/
- Whitepaper: https://www.freelanex.io/wp-content/uploads/2019/09/Whitepaper-Freelanex.pdf
- Ann Thread: https://bitcointalk.org/index.php?topic=5185611.0
- Facebook: https://www.facebook.com/Freelanex
- Twitter: https://twitter.com/freelanex
- Telegram: https://t.me/Freelanex
- Youtube: https://www.youtube.com/channel/UCcXpcGlfMKqqzOGztk6TsMg
Username Author: mirakuru79
Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=2583798
Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=2583798
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