Smart contracts, decentralization, Blockchain technology, Nodes and Shards, Bitcoin mining, ethereum gas station and so on. To the layman, all these are just bogus words commonly used by blockchain enthusiasts to confuse the masses more. In this article, I will define blockchain technology and bring to light how it interacts with the real world of cars, vehicles or automobile via Driveholic as a gateway.
Understanding Blockchain
Blockchain is a distributed database or online ledger that is used to maintain a continuously growing list of records called blocks. Each block has a timestamp, and a link to a previous block. This chain of blocks are managed by a peer-to-peer network that follows cryptographic protocols to validate new blocks
This form of digital ledger can be used for various purposes and in the case of BITCOIN, which i am sure many of you have heard of, it is used for transactions on the blockchain and is recorded chronologically and publically. A form of digital currency if you may.
Bear in mind, the blockchain is not only capable of recording digital transactions but VIRTUALLY EVERYTHING OF VALUE.
If everything I said so far still does not fully make any sense, well, there is 1 analogy that I really like from cointelegraph.com called the;
Glass Deposit Box Analogy
Imagine a 24/7 Bank Vault that is filled with row upon row of unlabelled deposit boxes. However this Vault is open for anyone to enter with every deposit box having a glass frontage for everyone to view its contents but not access it. Opening a new deposit box gives you a unique key. Although you own that deposit box, it is not under your possession but you have the ability to access its content at any time.
An oversimplified way of explaining the blockchain and bitcoin it might be, but that is essentially what it is.
About Driveholic
Driveholic is a decentralized platform poised to ease the trade of vehicles using the blockchain currency irrespective of geographical location. It connects vehicles producers, companies and owners to interested individuals accross the globe directly without the interference of intermediaries.
Features Of Driveholic
- Global Car Marketplace: Driveholic is designed on the blockchain architecture to provide decentralization and smart contracts which is not limited by geographical location.
- Peer-to-peer Social Network: Combining social interaction and trade is one of the strengths of Driveholic as it provides an excellent opportunity for buyers and sellers to directly interact in a high trust proven network.
- Eliminates Middlemen: The smart contracts feature of blockchain makes it possible for members of Driveholic ecosystem to directly interact and deal without having to trust humans who have the tendency to renegade on contracts or agreements.
- Auction Sale
Members of the Driveholic ecosystem who are willing to engage in driveholic's largest auto market sales can. Buy from anyone, pay with cryptocurrency and recieve the value of your payment irrespective of geolocation.
Conclusion
Driveholic is positioned to disrupt the automotive industry through provision of a clear cut service oriented solution to help individuals in the marketplace trade vehicles with trust.
To Learn More About Driveholic, Kindly Click the Links Below;
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