This is a platform in which decentralised applications are conjoined in a pool. The apps form a complex network and resource sharing centre, combined with social amenities such as malls, casinos and other recreational joints called RothsMaza. In this ecosystem, applications interact within themselves using smart contracts. All transactions are made using RothsCoin (RTC).
Why Smart Contracts?
Traditionally, contracts are mandatory for any transaction made, as they are the proof of the deal. A lot of time is however spent on these documents, mainly if they are in hardcopy. Moreover, such agreements occur in the presence of a third-party, who acts as a witness.
On the other hand, smart contracts negate the necessity of most of the procedures as mentioned above. They are entirely under the control of computers, which oversees every aspect of the deals, including terms and conditions. Consequently, the costs subside, time is saved and the contracts become more transparent.
Despite their essential advantages, smart contracts have their fair share of shortcomings. Ethereum smart contracts are limited to the virtual currency world and are understandable only to technocrats. For this reason, these deals do not bode well for non-specialists. RothsCoin seeks to eliminate the disparity by creating a system that will be not only universally accessible and acceptable but also easy to use.
This is one of the core fundamentals of the RothsCoin ecosystem and works using the blockchain technology. Though still in its baby step, this network displays remarkable potential and aims to transform into a fully-fledged virtual system, where members interact freely.
Currently, RothsMaza is:
- A platform on which groups can convene meetings and keep their agenda private thanks to blockchain technology.
- A hub of software developers, specifically from business-related fields.
- An environment where learning institutions can establish classes on relevant topics.
- Coordinating with governments worldwide in a bid to earn global accreditation as the hub for processing smart contracts.
- Planning to become a global commercial force, where transactions are made using a universal currency, and all contracts are digitalised.
Typically, crowdsale are a fundraising mechanism for companies. RothsCoin is no different, as they seek a means through which they can gain money to finance their visions and strategies.
A total of 89 million RothsCoin (RTC) will be up for sale. Out of these, 10 million will go to the reserve, another 10 million will be available in the crowdsale, and the remainder will be mined on mobile devices.
Token symbol – RTC
Allocation of Rothscoin Funds
RothsCoin is a frontier of transparency, hence the firm has laid out how it intends to use the proceeds accrued from the crowdsale. The ratio in which the money will be allocated is as follows:
- 50% will work towards the development of the RothsCoin ecosystem and construction of infrastructure.
- Marketing and advertising will take up 25%.
- Incentive programs will consume 10%
- 5% will go to administration.
- Legal services will use 5%.