Firmo: Building Trust On The Blockchain

autofreak (62)in #blockchain • 6 years ago

Technology is usually about evolution, while bitcoin and ethereum birthed decentralization and smart contracts respectively, Firmo which can be referred to as bitcoin 3.0 has brought secured and automated financial contract to the blockchain. It is estimated that about 38.8 percent of tokens on cryptocurrencies market run on ethereum, and this platform is run by corporations, it has been hacked severally amidst scaling issues. Investors' confidence is waning because of security. It is time to consider secured smart financial contract. Firmo smart derivatives are nonflexible and it provides security which can be traded on reputable exchanges that supports Firmo protocol.
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Security offered by Firmo is evident in her logo, your asset will be safe in an enclosure where only you can have access to it. You need not bother about bugs and another attack.

Firmo Will Change the Evolution of Financial System
Jodi Rell in one of her famous remarks, she said;

At the end of the day, the goals are simple; safety and security.

Until now, traders hedge with fiat, gold or other physical assets. Firmo is giving opportunities to sissies in a sphere which is considered as dangerous.
Firmo forward contract gives individuals, groups or organizations the leverage to acquire assets at a specific time in the future, this is a fantastic hedging tool in crypto-space.

Zero-coverage Gives Firmo An Advantage Over Current System

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Here is a friend that wants to help you grow, even when you have low collateral or none, your reputation is all you need to stake. Isn't this cool? Be good (hehe! don't mind me). This functionality is deployed when smart contracts are executed on permission infrastructure. It means that sufficient trust must exist between counterparties [Source: White paper]. This option will be powered by Firmo growing community.

How Detailed Security Will Help Current System

Firmolang added security detail will help the current system gain investors' confidence. The world is faced with the problem of so-called decentralized tokens being powered by centralized platforms, this has reduced security that was promised by the blockchain. It feels like true decentralization is just an illusion created by new world order. Cryptocurrency converts need more security assurance.
Firmo realized that if ambiguities are removed from contracts, vulnerability will reduce, hence less susceptible to attack. This is the idea behind the use of domain-specific language. As soon as open-source is available, developers will be able to formulate exotic smart derivative out-of-the-box Source: White paper.

By simplifying specific terms to only what is necessary for the contract languages, which is exactly what Firmo is doing with Firmolang; secured execution environment for the smart derivative is guaranteed.

How Derivative Will Change The System

The derivative is an instrument attached to another financial instrument, it mitigates loss as a result of fluctuating asset value. This concept has been in existence since ages, in a centralized sphere. But how it will interact with decentralized assets in exchanges is highly anticipated. There is no doubt, the project team is firm and adequately protected by their collective skill sets and experiences. And the Firmo telegram community has grown from 520 members to over 1,100 in less than a week. It is fast becoming one of the most interactive community on telegram.

Meet The Team

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