ForexMinute.com – In order to eliminate the risks involved during peer to peer transfers, the BlackCoin Team has come up true smart contracts and decentralized exchanges for both BlackCoin and Bitcoin.
Often we encounter certain ill traits of the cryptocurrency markets, such as over-volatile behavior, unsafe wallets, forged employment contracts, and none the least the so called decentralized exchanges that depends on middle coins.
David Zimbeck, the developer from BlackCoin development team, has created two protocols – BitHalo for Bitcoin and BlackHalo for BlackCoin – that will eliminate the aforementioned issues. These protocols will benefit users by employing support to commodities such as Bitcoin cash, as well as two-party escrow.
Upon the implementation, BlackCoin and Bitcoin will become the first cryptocurrencies to feature smart contracts. As per the announcement made by the BlackCoin team earlier, these “protocols do not require the use of any central server or host to organize the transactions”, which simply means that its adaption will be quick and easy. Furthermore the announcement also spoke of Double Deposit Escrow, which “allows contract bridges to form, as well as micropayment channels, allowing for potentially unlimited transactions under the same contract.”
Meanwhile, Zimbeck credited BlackCoin while confessing his reason to choose this cryptocurrency. He said: “I chose BlackCoin because of its fast transaction times, a massive advantage when engaged in contracting. Bitcoin transactions can take well over ten minutes for their first confirmation, while BlackCoin normally confirms in well under a minute. Trust and agreement are the basis of society so this technology affects everyone.”
Read the full press release here.
To contact the reporter of the story: Yashu Gola at firstname.lastname@example.org
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