Cardstack is about to change the world of blockchain!! Imagine if users could be guaranteed a consistent and satisfactory user experience across all applications and distributed applications (dApps) with incentives to software manufacturers in the form of payment for remarkable performances.
Utilizing the blockchain technology, cardstack is a decentralized platform developed by Chris Tse designed to address this issue. This cardstack review has been able to uncover the fact that the framework it uses is an in-built extensible blockchain consensus protocol known as ‘Tally’.
Tally reviews and approves transactions on the blockchain database in a quick and efficient manner eliminating the cumbersome need to wait for every node on the blockchain to authenticate a transaction as it is usually done in regular blockchain.
There are three layers within the cardstack platform which each offering a distinctive toolset designed to unlock the full potential that comes with the decentralized Internet, for the benefit of all users.
Cardstack token more commonly referred to as CARD is a cryptocurrency unique to the cardstack hub. It is an ERC20 token type Ethereum based cryptocurrency. Unlike other cryptocurrencies, the Ethereum-based CARD is set to create a workable marketplace through which developers using the open source framework will be duly rewarded for their performance.
Initial Coin Offering of Cardstack Token
Notably, the cardstack token is a project still in the developmental stages. As it is common with most FinTech cryptocurrency projects in need of funding, the cardstack foundation is putting up a cardstack token sale via Initial Coin Offering (ICO).
ICO is a fundraising tool used to raise money for tech projects in the early stages in need of funding. In ICO, a predetermined quantity of the cryptocurrency under view is offered for sale to investors in exchange for fiat money and other established digital money. In the case of cardstack, CARD is sold in form of ‘token’ to investors in exchange for Ethereum cryptocurrency. It is pertinent to note that cardstack token sale only accepts Ethereum.
With a total of 10 billion tokens available, only about 2 billion of the available tokens will be made available for the token sale. Interested investors will have to sign up on the cardstack website in order to qualify for token purchase. There is an array of benefits associated with investing in the cardstack cryptocurrency.
Benefits of Cardstack
- Cardstack allows users the ability to combine different and various software services and features from applications and distributed applications to create workflow models that suit their requirements.
- Using the cardstack framework, users can also create and develop blockchain applications.
- Cardstack uses an open source framework and consensus blockchain protocol that optimises the user experience.
- It uses a ‘smart contract’ protocol that tracks and verifies the credibility of transactions on the blockchain database to avoid fraud, scams and other cyber security related issues.
- The hub adopts a decentralized payment algorithm that ensures a fair distribution of wealth among the end users and developers in the system.
Once it is launched, Cardstack token is set to become a primary tool in the global movement towards a sustainable software market built on a decentralised software ecosystem and powered by crypto economics.
For interested contributors, a whitepaper highlighting the features and benefits of the cardstack token while also providing persuasive and factual reasons to invest has been published on the cardstack website and can be accessed here.
A more detailed breakdown of cardstack framework in general can be viewed on the website.