$ 0.002 6.71%
BlockMason Credit Protocol (BCPT) Rank 2021
| Mkt.Cap | $ 55,941.00 | Volume 24H | 1.00BCPT |
| Market share | 0% | Total Supply | 116.16 MBCPT |
| Proof type | N/A | Open | $ 0.0014 |
| Low | $ 0.0014 | High | $ 0.0015 |
BlockMason Credit Protocol
Therefore, BlockMason offers to guarantee allocation of tokens to early adopters of CP, regardless of size, who purchase tokens during the pre-sale period. Using a whitelist, BlockMason will record the Ethereum addresses of all users who request a guaranteed slot. Each address that requested allocation is guaranteed a chance to purchase BCPT during the early 5 day period in a process executed via the smart contract governing the token sale. One of the powerful and understated features of Lndr is its ability to put crypto into the hands of average users. While always improving and becoming easier, buying cryptocurrency is still a difficult and complicated task for many.
About BlockMason Credit Protocol
As a developer of base-layer blockchain technologies, the Blockmason team is always looking for ways to expand the usability of their innovations. As Binance Chain grows, the Credit Protocol and BCPT will grow with it, presenting new opportunities for decentralized app developers and users alike. Users of BlockMason’s CP product-use tokens receive a perpetual, fully-paid-up license to use a portion of CP network capacity, proportionate to the number of tokens owned, pursuant to an industry-standard licensing agreement. Title and ownership of Foundation, CP, Lndr and all related documentation and support structure resides in BlockMason.
Raiden, and other forthcoming off-chain solutions, promise much faster speeds. Between network scaling, Plasma, and the development of off-chain transaction options, the Ethereum Network will likely see a dramatic increase in transaction speed, a critical step for any DApp with a large user base. The Credit Protocol public token sale will last for 30 days with a goal to sell 27,000 ETH worth of tokens.
CoinSwitch is the largest cryptocurrency exchange, which allows trading more than 300 cryptocurrencies with over pairings. Users can compare BCPT rates and trade across all available leading exchanges at one place. It also allows users to track cryptocurrencies performance with live price charts from multiple exchanges. Relationships defines and tracks relationships between the users. It establishes a relationship between two users, if they are agreed upon the debt.
More than a Wallet: Creating and Settling Social Debts
Lndr is an extremely powerful tool not only for individual borrowers, but for lenders as well. Through the Credit Protocol’s website, BlockMason intends to continue adding vital support resources for our customers and token holders. These resources will include detailed documents explaining how to maximize productivity when using the CP, how to adapt the CP for various use cases, and many examples and templates of successful projects.
A vital step toward that goal is building a supportive community that believes in the Credit Protocol and further developing its unique ecosystem. In that spirit, we will create and maintain a depository of free UCACs for developers to leverage in building their own DApps on top of the Credit Protocol. This depository will include all winners of our Bounty Program, as well as generic templates of successful UCACs that may be customized for specific applications. This depository will not only encourage the growth of a strong CP community, but it will also promote the adoption of the CP protocol by prospective users who can browse a list of successful UCACs already being implemented throughout the world.
Users can also use BCPT for settling transactions on the network. However, Blockmason will continuously change the transaction cost, based on the network traffic. Built by Blockmason, Lndr is a peer-to-peer bill-splitting and expense-sharing mobile app for iOS and Android that uses the Credit Protocol and the Ethereum blockchain to create, manage and settle casual debts and IOUs between friends.
The Credit Protocol smart contracts form the base contracts on which Lndr runs. Lndr is more or less an unrestricted UCAC running on top of the CP. Ergo, all of the above descriptions of the mechanisms behind the CP, apply to Lndr. In order to make CP low cost for users, BlockMason’s ongoing maintenance and support include updating and optimizing our product to reduce costs. Cost minimization is an ongoing process that involves the use of systems like IPFS and other off-chain storage solutions.
The Flux Capacitor contract also notes total remaining capacity for transactions allowed within a given time period for that user’s staked tokens. The contract then updates the CP Token staker’s transaction capacity and calls the corresponding function in the CP Data smart contract. Because legal and social mechanisms already exist for enforcing debt repayment, the true power of the Credit Protocol rests in its ability to reliably record debts through double confirmation.
Blockmason Credit Protocol (BCPT)
The platform operates on several unique smart contracts, such as Credit Protocol data contracts, staking contracts, Use Case Authority Contracts (UCACs), and Flux Capacitor contract. Instead of compare BCPT rates individually on different exchanges, users can save a lot of time by using CoinSwitch,.
The few mobile apps that aim to improve financial liquidity require bank accounts and have limited market reach, implying a huge demand for a cryptocurrency based financial transaction application likeLndr. The movement of debt and credit on the blockchain is vital to the growth of our ecosystem, and BlockMason has developed a protocol that works right now. Don’t wait around for a half-baked solution promised years down the line. We have already deployed a working version of CP, and we invite all prospective users to explore the code.
Token Sale
- The Credit Protocol smart contracts form the base contracts on which Lndr runs.
- Even more importantly, incorporating the Foundation protocol allows Lndr to potentially add new users easily with a temporary Eth address—such users can later migrate to other wallets while retaining their Lndr account.
- We refuse to ask for your valuable time and energy without first offering a working product that demonstrates our ambition and proficiency.
- Because Lndr allows users to carry and net debts over long periods of time, with periodic or on-demand settling of debt balance through ETH, it is essential that users have the most possible flexibility in determining how to send and receive payments.
As you will see, we believe in the power of Lndr to enable new types of local economies based on the liquid movement of debt and digital currency through trusted social networks. Most importantly, we believe that CP will be a significant factor in driving users to the Ethereum network. The protocol’s power and its low barrier to entry will draw customers from a new customer base unfamiliar with cryptocurrency.
Each UCAC requires the operator to “stake” a minimum of one BCPT to write debt or credit through that UCAC to the Credit Protocol system. Each BCPT possessed by the operator permits the UCAC to process a specified number of transactions per day, a number determined by a variable set by Blockmason within the CP smart contract. Therefore, staking more BCPTs allows for greater transaction throughput within the UCAC. Depending on the intended debting system, a user or developer may need to own multiple BCPTs to optimally guarantee the UCAC throughput capacity. While users may own fractional tokens, these partial tokens cannot be used to generate transactions.
Blockmason will only ever adjust transaction capacity upward to increase the total number of transactions allowed per BCPT; it can never decrease it. This guarantees that available transaction capacity will grow with increasing network usage, while preventing purchasers from losing the total number of transactions allotted to them by their initial token purchase.
This is really good news for something like the Credit Protocol. This data can be used to determine if someone is worth lending out to. This data can be used to, with higher levels of certainty, verify that someone is real. There are numerous other things that might be written about an Ethereum address on the blockchain, like where someone works or even simply what their Ethereum balance is. All these are important criteria for determining if you want to loan money to someone.
The Ethereum Conundrum
Unlike other sales, based on hope and potential, our work stands alone to demonstrate our company’s commitment to ongoing development, product maintenance, and creativity as we expand the possibilities of blockchain technology. Our passion for our product and desire to improve the Ethereum ecosystem is not dependent on funding, and we aim to prove that we love building useful, functional, life-changing DApps—no matter what. Unlike Bitcoin, which is only a peer-to-peer payment system. BCPT is blockchain-powered system for tracking and settling of credit and debt. In addition, it is also a blockchain protocol that can facilitate the development of decentralization applications.
When starting any new development project there are always trade offs you make with what language you use. You have to consider what’s the fastest to build on, what can handle your initial needs, what will scale well, what your team can use easily and any number of other decisions.
While holders may choose to employ their tokens in CP DApps they personally use, in order to enable their own transactions, token holders may also pursue various developer pathways as well. For example, holders could stake a DApp that they control, ensuring their users have an existing pathway to process a defined number of transactions, either for a fee set by the holder or free of charge. The Staking contract stores information about how many tokens a user stakes to a specific UCAC, powering the transactions of a UCAC. When a user attempts to execute a function for a UCAC, the Flux Capacitor then queries the Staking contract for information about how many tokens the user has staked to power the transactions of that UCAC. The Flux Capacitor contract also checks the Staking contract to record the amount of tokens a CP Token holder is staking and for which contracts those tokens are declared.
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To form a debt between two entities, those two entities must be demarcated as “connected.” Relationships also tracks pending relationships, as users are required to confirm relation requests. Ultimately, users should not lend to entities in whom they doubt the ability to repay their debt, nor should users lend more money than they are comfortable losing. Credit Protocol platform features a dynamic transaction cost, which is determined by the amount of traffic on the network.
If credit request from the one user is not accepted by the second user. The total supply is fixed, no new tokens will be minted in the future. Democratizing the creation of credit through permanently recorded debts and obligations. BlockMason Credit Protocol (BCPT/BTC) printed a fresh 2018 low of 0. At that price level, the market was down by more than 94% from last year’s high of 0.
One of the most powerful factors in economic growth is debt and credit. The development of virtually all large-scale projects and infrastructure—bridges, factories, homes, technological innovations—are powered by debt. In fact, the federal government of the United States, the largest economy of the world, would collapse overnight without the power to borrow and lend money.
Additionally, compared to traditional applications using standard web hosting, storage prices are relatively high. While we believe that Ethereum’s global domination is inevitable, we also know that the average user need not necessarily understand Ethereum and its operation. Successful, scalable DApps will likely appear to users just as normal, web-based applications, with many layers between users and the Ethereum network. Use Case Authority Contracts act as a pathway for inputting and settling debts. Because UCACs are user-created, the particular rules that govern recording debt through a UCAC may be optimized to best fit the need of the organization or user employing the Credit Protocol.
