Smart Contracts have come a long way. The entire concept is developing at a very quick rate of speed. With the new technology creating tons of attention, the smart contract is now showing different signs of a need for improvement.
Kirik is the company making bold claims about how smart contracts can improved upon. They are attempting to live up to big promises of creating ideal smart contract systems. Only time will tell if they can live up to the promises.
In a nutshell the company is working with blockchain technology to improve smart contracts. There are ton of projects happening on the blockchains of the world, Kirik just so happens to want to improve smart contracts. The development of them is the first and most important area they’re improving on.
The tech they’re developing is said to be ideal for extending the things that blockchain is used for. More approachable, easier to use technology – positively developing it in a way that is beneficial for everyone is how they’re looking to help the industry. The hardest part is making a platform that stands out from the crowd.
How Kirik Blockchain Semantic Meta Protocol Works
The company is claiming through machine learning and a 2.0 AI system-based infrastructure is the secret to bringing the blockchains together. And by creating a semantic meta-protocol, the new project is definitely gaining a lot of viewers who are interested in seeing how far Kirik can take it.
It’s not a secret that the contracts used on the Ethereum network have some issues, but not many – even so, it’s Kirik’s decision to take on the ones that do exist, so they can improve the network as it matures over the coming years.
The contracts are based strictly upon semantics and easily used as well as understand. This in turn helps make the software easier to use by the common folk of the world who aren’t tech savvy. Also, the contracts are easy to verify, using an automated system with the benefit of a visual editor that makes them even easier to create. Making the smart contracts more user-friendly is the end goal and bonus for everyone.
The use of these smart contracts is typically only available for specific industries. And Kirik also is looking to explore as well as introduce the new applications for the technology. This is more so true for legal sectors and AI industries; smart contracts can have huge impacts in both of these areas. Also, the company Kirik, is currently designing a support system that links between different blockchains, something that has been needed for quite some time.
As for the token, as expected they’re using a single blockchain environment for theirs. This isn’t the most desirable outcome but is what it is for the time being. They’ll also be running with the ERC20 Standard token. The blockchain for the project will take a lot of work, support proof-of-work as well, but no details have been given yet.
There are lots of things that can be worked on while turning out a product. The first order is the ICO to raise funding for the development of the platform. It’s taking place in August at which time, a majority of the infrastructure will be nearing completion. As it is, things are working in progress in this project.
Kirik’s desire to improve smart contracts is not easy by any means, but that is to be expected for many obvious reasons. The team will likely have a lot of outside assistance to ensure the system is congruent for all systems involved.