Pactum – Ethereum Configurable Smart Contracts DApp Adoption?
Pactum is a Dapp which lets its users be in a position of creating personalized smart contracts on the Ethereum blockchain platform. In essence, it provides libraries of executable distributed code contracts (EDCC) that can seamlessly comply with the general use cases. Its users then get to pick from these libraries, with the templates that best fit their exact needs and preferences for any kind of project they might have in mind.
Generally speaking, this Dapp’s primary objective is to fully automate the verification and deployment of smart contracts on the Ethereum Virtual Machine. Basically, the entire process involves the user filling out user-friendly web forms, which allow them to easily personalize smart contract templates. Ultimately, these given customized smart contracts are then automatically validated and deployed on the Ethereum Virtual Machine on their behalf.
The team behind Pactum is Matt Swezey, Rich Merrill, Mike Alonso, and Patrick Merrill. Besides being a co-founder, Matt Swezey doubles up as the project leader and a senior developer. Rich Merrill is a co-founder and also serves as a senior developer. Mike Alonso is another co-founder and also acts as the technical project manager.
Finally, Patrick Merrill also serves as a senior developer for the project. They were inspired to develop this Dapp in order to be able to make their own significant contribution to the growth of the digital currency field in general. To obtain more in-depth details on the Pactum development team, please feel free to visit their website.
Why Is Pactum Needed?
The power of smart contracts, for a long time, could only be leveraged via the usage of scripting languages that runs on the blockchain. The most popular of these applications is Solidity, which was specifically developed to facilitate the creation of smart contracts on the Ethereum Virtual Machine.
What this really means is that users have to possess some working knowledge of programming, and for the Ethereum platform, this scripting language in particular to do so. Therefore, for the most part, smart contracts have been the sole preserve of a privileged few. However, Pactum has been specifically developed to change all this.
Like it was earlier stated, this Dapp can enable even the most average individual to create smart contracts by using the templates it provides in its libraries. More specifically, it has been designed for those developers that lack any experience with Solidity; the language that supports a big number of EDCCs created on the Ethereum blockchain.
The preexisting EDCC ecosystem is highly noted for been extremely hard to design, and in the long run, implement. Also, to make things even worse, the average user is totally devoid of the necessary coding skills and resources to successfully create them. In turn, this has significantly impeded the general acceptance of Ethereum, along with other blockchain platforms which facilitate for their creation.
The developers of Pactum wish to make a turnaround in this current state of affairs. This Dapp provides a user-friendly graphical user interface (GUI) that lets users build up personalized EDCCs from its libraries. The main objective of the team behind Pactum is to allow for the convenient and stress-free creation of valid peer to peer smart contracts on the Ethereum blockchain.
What Are The Benefits Of Pactum?
The usage of this Dapp does indeed present a wide variety of key advantages to both the users and token holders. Here is a list of the most prominent of them. It is important to note that some of these benefits have already being implemented, while others are still in the pipeline.
- The effortless creation of authentic peer to peer pacts globally
- No coding experience in Solidity or any other blockchain scripting language necessary
- Support for 3rd party wallet as well as Dapp, including Mew, Ledger Nano S, and MetaMask
- Optional mediation service at the user’s discretion
- Quarterly benefits for all token holders, together with voting power and community proposals
Any Risks Or Downsides?
The smart contract concept is still in its formative stages. This implies there are certain risks, which its implementation can carry. One of the most notable of these is financial losses as a result of software bugs or even cybersecurity attacks.
Pactum Final Word
Pactum is definitely a godsend for those who wish to use smart contracts, but lack the technical expertise to do so. Its users can be able to fully leverage the potential of smart contracts even if they have no coding knowledge whatsoever. By facilitating for valid peer to peer pacts, Pactum has the potential to revolutionize the whole cryptocurrency sphere.