Although Blockchain technology isn’t even ten years old, it’s still the most important piece of technology we have today. Cryptocurrencies such as Bitcoin, Ethereum, and a number of others have utilized the possibilities of the Blockchain in the financial world.
However, we’re yet to see the full power of the Blockchain. And now, there’s a new player in the Blockchain market called Cardstack that’s offering a solution for the decentralized internet.
In short, Cardstack is a new platform with decentralized software specifically designed for Blockchain-based application network. The team behind the platform is trying to create an alternative application market, supported by the open-source framework.
If you’re not familiar with open-source software, here’s a quick explanation: Basically, the code of open-source software is available for everyone to use, without paying. If you have the right coding skills, you can create, share, and distribute your own apps.
Like every other open-source platform, Cardstack isn’t controlled by any entity – including government agencies. What’s more, by using the Blockchain technology, the creators of Cardstack guarantee completely transparent transaction for all of their users.
Furthermore, the platform allows people to use features from multiple distributed apps without worrying about utility tokens or subscription costs. Some of the apps users are able to utilize include:
· Photo and Video apps
· Chat apps
· Financial apps
· Social networking apps
· Transportation apps
Cardstack allows users to combine a number of Internet layers to create their own workflow models and develop Blockchain-based apps. The company’s mission is to make the Blockchain more usable and scalable for the average user.
The platform’s unique ecosystem is powered by CARD – the Cardstack Token – an Ethereum-based cryptocurrency, specifically designed to improve the digital marketplace. The currency allows developers to receive higher payments and users to the use the software services that meet their requirements.
The users can trade the tokens for services, products, and other cryptocurrencies as well. When you use the CARD in a transaction, the system creates a smart contract between you and the app. Smart contracts are protocols designed to authenticate and facilitate transactions between two parties.
Smart contracts known as crypto contracts allow you to transfer assets without the involvement of a 3rd party. After the transaction is over, all tokens are turned into a reward pool that’s eventually distributed to end-users, developers, and miners that use the Cardstack platform.
· 1st Layer – First you have the secure layer that’s focused on the mechanism of application of the Blockchain in Ethereum (the cryptocurrency CARD is based on).
· 2nd Layer – Next, you have the governance layer that involves the CARD token and the Tally protocol. This protocol uses a so-called “proof of usage” system to verify transactions over the Cardstack network.
· 3rd Layer – Lastly, there’s the orchestration layer. The last layer is all about the overall framework of the Cardstack hub and token-based Blockchain apps.
Like with every other investment out there, certain risks are associated with the Cardstack token, however, in our opinion, the benefits drastically outweigh the disadvantages. Here are just a few benefits of investing in the Cardstack token:
· You’ll be able to combine different apps to create new workflow models
· The platform is user-friendly, and you don’t need to be a cryptocurrency expert to use it
· You’ll be able to earn fees through Cardstack tokens by returning them to the ecosystem
· The team behind Cardstack guarantees complete security of your personal data
· It uses a decentralized reward algorithm, which ensures everyone gets fairly awarded
From the look of things, Cardstack is going to be a revolutionary platform, which will completely change the way think about the Blockchain. Although we feel that the platform is well worth your time, we recommend you inform yourself before you make any investments. If you want to know more about Cardstack, you should go and visit the official website and get all the information you need before you proceed with your investment.
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