Ethereum is fast rising to become a significant force in the cryptocurrency market, and the only Bitcoin is the competing adversary regarding the value and market capitalization. Although Bitcoin market capitalization is the highest in the market, the circulation of Ethereum is increasingly becoming significant to enable more adoption within the cryptocurrency community.
A significant cause for the increased use of Ethereum blockchain is the execution of smart contracts that enables parties to fulfil conditions through using a code. The platform dictates the transfer of ownership of an asset and is sent to the results sent to the originator. Here is one blockchain platform offering these capabilities to the growing adoption of the Ethereum platform
What Is CodeTract?
Code Tract is Ethereum-based smart contract auction platform that enables the exchange of the tokens. Through Ethereum platform, Code Tract will allow for the settling of daily transactions, low counterparty risk, high price efficiency, high volume transacting and no frequency bots. Consequently, Code Tract hopes to bring the average user into ease of using the Ethereum network and ultimately achieve mainstream adoption.
How CodeTract Works
Current On/Off Boarding Process
Code Tract provides the fundamental approach to promoting transactions through Ethereum for individuals looking to use the technology for more average use such as salaries. The expense goes to the organizations seeking to utilize Ethereum transactions for their employees.
Ideal On/Off Boarding Process
As a Turing complete service, Code Tract will internalize the use of Ethereum and users will be able to transact with Ethereum from the beginning till the end. The steps to promote transactions will encompass a cashless medium through advanced technology.
Potential Future With CodeTract
The platform already is set on course with the creation of 2 standard Ethereum tokens with full backing by US fiat currency and gold which the average user is familiar with in the commercial finance. Additionally, Code Tract will provide for the token exchange with an easy-to-use on-chain auction platform. The demand services are already recurring, and the creation of the platform will promote upcoming work for individuals looking to use Ethereum tokens.
How To Get In On CodeTract
Code Tract will provide for two cryptocurrencies available namely;
USD CodeTract USDCT Coin
USDCT is the standard token in use with backing form the US dollar and will have less than a minute settlement
GCT is the Ethereum standard token receiving backing from gold. With a good store of value, the coin is easily transferable, quickly and seamlessly. The transfers for this coin will also occur in under a minute through quick public verification. The fee will cost $0.2 in each transfer with the annual storage cost coming it a 0.09% of the transaction.
Should You Use CodeTract?
There are plenty of risks coming with using gold-backed Ethereum tokens. For starter, blockchain does not facilitate reverse transactions, and each user will need to be extra careful when sending any payment. However, the use of Ethereum blockchain is still facing increased competition from upcoming blockchain models regarding better efficiency. All-in-all, there is an existing dependence on the purpose of Ethereum with multiple blockchain ventures already utilizing it as the core. Consequently, this means Code Tract do have the potential to attract users with their efforts to see more use of blockchain.