The blockchain is an open, decentralized technology that is utilized for recording and storing transactions via digital blocks. One of the unique inventions to come out of the blockchain was digital currencies. Some of the digital coins powered by the blockchain are Ripple, Ether, and Bitcoin.
With digital currencies, money transfers happen quite fast. The best part about it is that it is tamper proof. Up to this day, there has never been a report of a successful hack on a blockchain network. The blockchain utilizes mathematical algorithms and functions to come up with a secure and distributed ledger. The AllStocks network intends to harness this power to the full.
What Is AllStocks?
The ALLSOTCKS Network has been designed as a distributed global stock exchange. The final goal is to interface with the leading stock exchanges and stockbrokers globally. This platform will allow digital currencies to traded, backed by real financial assets. The network is going to create a decentralised system, which will enable stakeholders to trade AST, which is an ERC20 token. The backing assets are going to be stored in an escrow account. Besides that, the network will let users trade in financial assets such as bonds and currencies.
Allstocks Network will also expose a generic API interface, which will offer developers more capacity to develop tools and apps to be used for hedging, investing, and carrying out transactions via the AST tokens. Decentralized organizations, which are exposed to digital currencies, can safeguard their funding via stable assets. While this network is going to make it possible for investors to manage a diverse investment portfolio, it is also going to make it possible for companies to issue capitals easily.
How Allstocks Will Work
Allstocks will work in a manner that allows critical data to be stored on the blockchain. This data will typically be the transactions data and user balances. All other data in this network will be stored in the server. Since it ensures that there is a speedy adoption of CTT tools, the framework and development environments have already been designed.
Users of this network will need to have Ethereum wallets. All the CTT smart contracts are going to be compliant with the ERC20 standard. Thus, they will work flawlessly on the ethereum blockchain. When this is done, an allstocks smart contract will be utilized for regulating the work of the CTT smart contracts.
The CTT Smart Contracts
Each financial asset that is registered with the allstocks exchange will have a CTT issued. The CTT smart contract will be ERC20 compliant. Thus, forwarding the CTTs between users will be similar to transferring ERC20 tokens between wallets.
AllStocks Decentral Stock Exchange
It regulates how the CTT smart contracts work; the decentral stock exchange will be created. Its sole purpose is to ensure the smooth functioning of these smart contracts.
It ensures that there is a speedy adoption of the CTT as hedging too, various libraries and code template will be made available for app developers. The ICO for this project will start on May 1 and end on June 30.
AllStocks AST Token ICO Details
AllStocks is launching their AST Token through their ICO scheduled to start on 04/15/18. Minimum purchase is 50 AST tokens. You will be able to purchase AST tokens with Ethereum.