Taurus0x Smart Derivatives
Hi dears, another interesting project is being started. First of all, for who missed the previous entry, what's a cryptocurrency? To be fast and concise, it is a digital medium of exchange. And the next question would be... What's your use? It is also easy to guarantee the security, integrity and balance of your financial statements by means of a network of agents (segmented file transfer or multisource file transfer) that verify (untrust) each other called miners, which are, for the most part, general public and actively protect the network (the web) by maintaining a high rate of algorithm processing, in order to have the opportunity to receive a small tip, which is distributed randomly. All this racket of cryptocurrency has been increasing exponentially, however, most people know nothing about how blockchain technology works, what a smart contract is and how it could be used. For this very reason, I will first of all carefully introduce this type of blockchain technology. The blockchain is a decentralized general ledger. It is a computer network that has an identical copy of the database and changes its status (records) to a common agreement based on pure mathematics. All this means that there is no need for any central server or any entity we trust (e.g. central bank, notaries, banks, Paypal, etc.). The blockchain is the technological basis for all cryptocurrencies, whether Bitcoin, Ethereum, Hyperledger, etc. An important part of the blockchain is the smart contracts, a piece of code that is stored in the blockchain network (in each participant's database). It basically defines the conditions to which all parties using the contract agreement. Therefore, if the required conditions are met, certain actions are executed. Because the smart contract is stored on all computers on the network, everyone must run it and get the same result. This way users can be sure that the result is correct.
After this brief introduction to the broad topic of Blockchain and Smart Contracts, we can already see that this technology opens many doors to new decentralized businesses and eliminates the need for expensive third parties. Many new companies are now working on this technology, and large companies are testing it in closed networks to collaborate directly with each other without the need for intermediaries. For that reason, there is a lot of projects that are starting to use this new technology. However, not all of them are worth it. We have to read well what each project is dedicated to, what is its whitepaper, its qualified advisors, etc. As I said, blockchain technology has gained popularity due to the hype about cryptocurrencies which has shaken many startups to launch their own cryptocurrencies even without convincing fundamentals. This trend has emerged because new entrants have been agiler in adopting emerging technologies compared to incumbents who are hampered by legacy systems. However, this competitiveness and this advantage enjoyed by the new players may be short-lived, as no economies of scale are taken into account.
Although this model has worked and has failed many times, the project that I am going to present to you now sees an opportunity in decentralization for the negotiation of peer-to-peer derivatives through a network of block chains. Reducing dependence on an intermediary naturally reduces the associated risks. Entering in more detail, today I am going talk you about Taurus0x, a distributed, open-standard protocol for decentralized derivative trading.
As I said before, Taurus0x (TAUR) (https://www.taurus0x.com) is a distributed off-chain/on-chain protocol powering smart derivatives from end to end, for any asset over any network that standardizes derivative trading of any digital asset, not limited to cryptocurrencies. It allows any entity to issue insured contracts for asymmetric cryptography that persist downstream of the issuer in the Ethereum block chain. In addition, using blockhain-based technology, it provides a single source of truth for the current state at any given time.
Regarding how Taurus0x Platform works, the Taurus0x protocol facilitates the management of multi-sig contracts outside the chain and inside the chain. The protocol can work in two modes: peer-to-peer and exchange.
Peer-to-peer mode Exchange mode 1. The creator generates a contract outside the chain and signs the contract with a private key. The participants in the contract do not trust an intermediary during the whole life cycle of the contract.
2. The contracts signed can be transmitted to a Policyholder through any network (text, email, social media, etc.). Once received, the Policyholder signs the contract with his private key.
3. With both signatures available in the contract, it can be published in the Ethereum block chain by either party.
4. Both parties can execute the contract before its expiration date.
The contract participants communicate through a moderator to complete the transaction. The moderator can be any accommodation relayer of order books, most likely an exchange. br> Steps:
1. Maker generates contract outside the chain and signs a contract with a private key through the stock exchange.
2. The policy holder decodes, verifies and signs the same contract through the stock exchange.
3. With both signatures available, the exchange publishes the contract in the block chain.
4. Both parties can execute the contract through the stock exchange, before the expiration date.
Once that all explained, we can conclude that Taurus0x is a secure, decentralized, simple and transparent platform, which is building a solution that embraces a wide spectrum of levels of knowledge and expertise with a simplicity and ease of use. Finally, I put a sum up table to take an image of what Taurus0x can do and what things it can bring to the industry.
Taurus0x is not an exchange in itself. It is rather a market-creating protocol with native support for centralized and decentralized exchanges.
The basic tools for developers facilitate the retransmitters of orders the connection and reproduction of a standardized module of derivative operations.
Taurus0x is ultimately a peer-to-peer protocol built for operators. The versatility of the protocol allows operators to participate in speculative markets without problems.
The open standard Taurus0x will pave the way for a unified experience and a lighter knowledge base for merchants.
Taurus0x is open source, therefore the developers of our community will be the executive branch of the Taurus0x Trust foundation.
DApp developers can build open source or proprietary Fintech applications that comply with foundation guidelines.
Taurus0x is distributed 100% without a central point of presence. The protocol allows decentralized trading of peer-to-peer derivatives.
Taurus0x runs out of the chain using state-of-the-art cryptographic functions, and establishes contracts in the Ethereum block chain with zero downtime and integrated trust management.
Plug and play
Taurus0x is not an exchange protocol, but rather a base layer protocol that powers derivatives markets for any type of exchange, not limited to cryptocurrency. Centralized and decentralized exchanges can connect and reproduce Taurus0x in an existing ecosystem and have automatic support for trading derivatives without writing a line of code.
Date Events Q3 2017 Business analysis.
Q4 2017 Business entity setup.
Q1 2018 Product development.
Q2 2018 Product development.
Q3 2018 Beta release mainnet.
TaurusAPI Service release.
Q4 2018 Taurus v1 release.
3rd party integrations.
Decentralized governance R&D.
Mobile apps development.
Q1 2019 iOS and Android apps release.
Q2 2019 Taurus v2 release.
Q3 2019 DAO rollout.
The project gives the opportunity to earn Taurus0x (TAUR) performing some social media tasks and doing simple steps from the bounty program explained into BountyHive Platform. Here (https://bountyhive.io/join/Taurus0x) you can access the link in order to see what are the conditions to become an early TAUR contributor and start acquiring tokens.
Doesn't that sound interesting? If you are interested in this airdrop or basically in the ICO, you can read their Whitepaper in their own page here(https://www.taurus0x.com/pdf/whitepaper.pdf). You can also stay tuned in their official Telegram group (https://t.me/Taurus0x). I hope you liked the post and soon I'll send you new ones.
ICO price: 1 ETH = 10000 TAUR
Tokens for sale: 225,000,000
Email: [email protected]
Telegram username: @clauminghttps://bitcointalk.org/index.php?action=profile;u=1870482
Ethereum address: 0xC6AB45541006D53D31E25b41c7d245c5Ad99BF71