Hello ... my dear friend! This is the year 2018.
Congratulations with the AIDA team's holiday and service hopes for a productive new year. and of course, what's a new year's eve without a miracle? and in the company, AIDA service, it has happened!
What is a smart contract and how does it work in our AIDA service?
The idea of a smart contract back in 1994 to Nick Szabo. He is a lawyer and cryptographer, he understands that it is possible to conclude "Smart Contract" based on a decentralized registry. But then there is no suitable platform, so it can be translated into reality. However, the situation changed in 2008, when the chain block technology emerged.
In turn, the Block Chain is a technology that is talked about all over the world. Information about chain block technology is recorded in encrypted form and distributed to all computers on the network. Each new block contains information about the previous one, which leads to the reliability of the circuit and to write information to the block, you need to sign the action with a unique private key. This ensures that no one will enter information on your behalf and without your knowledge.
That is, simply, smart contracts are computer algorithms designed to conclude and maintain a self-executing contract executed in a block-chain environment.
Because smart contracts operate on a block-chain, they give users confidence in the reliability and confidentiality of transactions where outside parties do not participate, whether government agencies or banks. It is an action / transaction made under smart, traceable, transparent and irreversible contracts.
However, smart contracts get extensive practical applications with the look and development of Ethereal projects. When the founder of Vitalik Buterin in 2013 came to the conclusion that bitcoin is less suitable as the basic protocol for smart contracting, since it was not originally designed for this task. Furthermore, Mr. Buterin decided to make from the beginning the most suitable protocol for smart contracting.
And our smart token AID contract is compiled based on the ERC20 standard ( https://github.com/Aida-Market/AIDA_ICO_SmartContract ).
The hallmark of our contract is the token price set in USD and not in Ethereal, which avoids the risk of interest rate volatility for investors.
This technical feature is made possible by the use of Oracle, a platform featuring setRate every 30 minutes, which then transmits the actual ETH / USD exchange rate of the top five cryptourrency exchanges as a parameter of the smart-contract. The token price is set to $ 0.25 each.
In addition to investing in Ethereal, investors will be able to purchase AID tokens for BTC, LTC, BCC and USD (from debit cards). The payment process in this currency will occur through the use of an automated platform that calculates the size of every incoming transaction in USD equivalent, tracks the number of transaction confirmations and once the transaction is confirmed, generates a token on the Ethereal address, ie indicated by the investor in the personal account.
The token issue is generated by raising the method (buyForInvestor), - to purchase crypto-currency signatures-BTC, LTC, BCC directly from the delivery address. To ensure the release of tokens in real time, the shifted design principle developed by Phenom ( https://phenom.team ) is used, when the entire release process is distributed simultaneously between the three controller addresses, allowing real-time token production, even in case of network congestion of Ethereal.
Roadmap
The ICO process is divided into two stages:
Initial token sale to investor (Pre-ICO)
○ Terms: 30.12.17 09:00:00 UTC + 6-20.01.18 23:59:59 UTC + 6
○ During this stage tokens are sold with a 15% bonus.The main stage of ICO
○ Terms: 21.01.18 00:00:00 UTC + 6-10.02.18 00:00:00 UTC + 6
○ No bonuses are applied at this stage.
AidaIco is the first intelligent contract to be structured and based on the concept outlined by Vitalik Buterin. Where during crowdsdale, investors are given the opportunity to return the funds invested 1 time:
For ETH investments: all tokens stored at the investor's address are burned and sent back to the investor wallet of AidaIco's smart contract.
- BTC, LTC, BCC investment: the refund process is empowered by Oracle. The amount of the investment is returned to the investor wallet, less the transaction fee.
- Key withdrawal: during the main stage of ICO return only possible until January 30, 2018, inclusive.
Our company decided to use smart contracts, because we believe that contractual relationships can be partly or even fully self-government. The cryptography underlying smart contracts, providing a higher level of security than traditional contracts.
Therefore, our goal is to provide better, new, modern and innovative services to AIDA.
Team
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