Today we speak in greater detail about how important the role of the smart contracts is in the ecosystem of our project, how they work, and what functions will be presented after the platforms release.
Generally speaking about the Vestarin ecosystem, the smart contracts are one of the most important components in the process of building the global crypto-marketplace. The smart contracts will be interacting with online resources and offline services.
How will this happen? We will explain in order, starting with:
Online Smart contracts
Obviously, the scope of smart contracts covers the sphere of online commerce. Which means, having various online stores integrated into our platform.
When you have activated your profile and submitted your goods, your shop becomes available for the Vestarin users. It will be like all online stores, except that payments will not be in Fiat, but in crypto. When the shop owners comply with requests from customers, the Vestarin platform using the smart contracts will automatically conduct payments, charge commision for transactions, etc.
In a similar ‘commission-based’ way should smart contracts operate with integrated exchange resources. In this case, exchangers pay a monthly commision for allocation at the platform. Every month the fee will be automatically charged by the smart contracts each month. If there is insufficient funds to accomplish the withdrawal, then the exchanger will be removed from the listings of Vestarin 5 days after the date of withdrawal, while these 5 days are given to proceed with uncompleted applications, and new applications will not be received until the commision is paid.
Offline Smart contracts
Online mode is quite clear and understandable, but how will smart contracts be able to communicate with offline services? This question concerns many, but we have an answer and it is very simple.
At the time of registration with the Vestarin, owners of the offline stores, HoReCa or any other company specify the size of a cashback-discount which they are ready to provide for their clients. After activating a profile offline goods/services appear in appropriate section of our platform, and users can easily find it with the geolocation. Now clients of these
offline — services will be able to pay for their services/goods with VST tokens. And once paid, our smart contract will automatically make cashback of tokens to the user with a discount, and also deducting commission to the Vestarin platform.
As you can see, there is no difficulties. Everything is simple and transparent, and, above all — it is very convenient for the crypto holder.
Additional Conveniences
In addition to these basic functions, smart contracts and other functionality of Vestarin enable to simplify the process of purchases with cryptocurrency.
Today should you buy anything with a digital coin, you need to complete quite a range of operations with the crypto wallet and trading platform. It is time-consuming, inconvenient and above all it is expensive. Anyone who at least once has tried to buy with a cryptocurrency will understand what we mean. Thanks to Vestarin, all these difficulties are resolved.
Our system will significantly reduce transaction delays and expenses, experiencing an increased speed of operations at the platform. With Vestarin “crypto — shopping” becomes more affordable and very convenient!
Let us also remind you that our ICO has already started and you have a unique opportunity to join us, if you still haven’t! You will find all details on our website: vestarin.io.