Whitepapers FirmaChain FCT White Paper Explained Summary

FirmaChain FCT White Paper Explained Summary

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FirmaChain FCT White Paper

Summary:

-White papers are used to provide in-depth information about a specific solution
-FirmaChain FCT White paper provides information about the philosophy behind the FirmaChain FCT
-the White paper covers topics such As the inspiration for creating FirmaChain FCT, the problem it is trying to solve, and the solution proposed by FirmaChain FCT
-FirmaChain FCT is trying to solve the problem of inefficient contract signing and fee Structure in Smart contracts
-the solution proposed by FirmaChain FCT is to develop a proprietary main-net based on Cosmos SDK and to initiate a plan to swap tokens

Explained – FirmaChain FCT White Paper. Learn in depth about differnet coins on the blockchain by understanding whitepapers.

There is a lot to learn about this futuristic tech, lets get started to dive into the FirmaChain FCT white paper and start to leverage it to build a more secure and trusted ecosystem for Industry 4.0 applications.

We will deep dive into how the coin works by understanding the whitepaper and its summary. FirmaChain FCT.

Lets understand FirmaChain FCT after going through the FirmaChain FCT white paper.

Without wasting any further time lets get started to dive right in and lets understand white paper first.

What is white paper?

A white paper is an informational, influential, well-structured document, usually published by an organization, to provide in-depth information about a specific solution.

A white paper is used to provide a good insight into the challenges for a specific problem and a proposed solution for the same.

FirmaChain FCT White Paper

FirmaChain FCT white paper will be going to provide you, all the information that is needed to get started with FirmaChain FCT, including the inspiration for creating, the problem it is trying to solve and the solution proposed by FirmaChain FCT.

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Introduction

FirmaChains features including, contract signing between participants, uploading UID of the file, address monitoring of respective storage spaces and contract status management has been constructed based on the concept of Ethereums smart contract.

However, the resulting data we have obtained from running our service provided us with useful insights and subsequently rooms for improvement. One of the insights was the increase in overall service cost due to an increase in gas fee. Additionally, there was no need for a user to keep the original contract file and the validation history of the contract created based on smart contract.

Rather, we reached the conclusion that the aforementioned responsibility can be delegated to the validators for a more efficient and streamlined service. The insights obtained above renders the traditional agreement mechanism of smart contracts and the fee structure inapt for FirmaChain especially when our mission is to provide a bang for the buck” service.

As a result, we reached the conclusion that either stimulating the use of tokens on another blockchain network or constructing a proprietary main-net would better align with the mission of FirmaChain. Since, additional features down the development pipeline also require the presence of a main-net, FirmaChain came to develop its proprietary main-net based on Cosmos SDK – a framework that utilizes Tendermint BFT agreement mechanism – and initiate a plan to swap tokens.

White Paper Link: FirmaChain FCT White Paper

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