What Is Firma Chain (FCT, FCT2)? Complete Guide Review About Firma Chain.

What Is Firma Chain (FCT, FCT2)? Complete Guide Review About Firma Chain.

What Is Firma Chain (FCT, FCT2)?

Unlocking new limits of electronic contracts with blockchain technology, Firma Chain seeks to replace all written contracts governing social and legal issues (contracts, notarial, etc.) through the use of electronic contract platform based on Chain’s data blockchain. Network allows for the easy use of the Chain functions and provides several Firma APIs that enable the easy production of DApp. The core layer consists of a decentralized data storage and a Tender mint based blockchain main-net.

Entrenched conglomerates are being uprooted by upstarts who realize that value is in the network effect of their users, rather than the cost of physical assets they own or expend. In recent years, the economic powers of decentralization have materialized. Uber has disintermediated transportation and achieved a valuation of $69B. Airbnb has made 1 similar disruptions in the lodging sector, giving them a value of $31B by most recent 2 measures.

Firma Chain Storage Key Points

Coin BasicInformation
Coin NameFirma Chain
Short NameFCT, FCT2
Circulating Supply336,216,862.00 FCT,FCT2
Total Supply600,000,000
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Support24/7
Official Project WebsiteClick Here To Visit Project Website

Application

DONUE is available on both Web & Mobile and covers all the steps required for closing a contract. The diagram above depicts how Firma Network is used in the processing of DONUE’s data. Documents are saved twice to ensure airtight verification, while strong encryption allows for maximum security in document storage. Firma Chain Until recent advancements in trust less network design, network participants had few reliable means for self-organizing without a centralized party.

Despite business models relying upon sustaining massive user bases that allow them to operate at scale, users have no means of participating in the value creation reaped from their use of these centrally controlled platforms. While customers of these services have enjoyed lower prices and better user experiences relative to those available in the past, they are still subject to higher costs than they would be without for-profit third-parties extracting fees and they have little say over the evolution of these platforms.

Electronic Signature System

Firma Chain system is built according to the digital signature standard allowing for non-repudiations in contracts. Due to the nature of blockchain, once contract data is uploaded, it can not be tampered. Forgery or tampering of an electronic document in donue is impossible and therefore, can be submitted as evidence in case of legal conflict.

Utilizing the aforementioned technologies, the Network will facilitate the operation and governance of marketplaces and communities as decentralized entities. The Network will enable the recreation of many of the internet’s most popular applications and services while eliminating rent-seeking and the relinquishment of decisions and personal data to third-parties.

Extended Features – SDK

By utilizing the API or SDK of Firma Chain, it is possible to make Decentralized Third-Party Apps. They also introduce the district0x Network Token in order to facilitate open participation and coordination across the network while providing protections from malicious actors. The Network is comprised of districts. Districts are markets and communities that exist as decentralized entities built upon the framework

The Firma Chain Token is a multi-utility token which is required for application to the Network, utilized in an incentivized voting game to dictate access to a suite of ancillary services exclusive to network members, used to signal support or disapproval for proposals made by network participants, and which can be staked to deposit pools to mint tokens providing district-specific rights on third-party platforms.

Ethlance

As the original district, Ethlance serves as an experimental sandbox for the creation and refinement of the Firma Chain framework and will be developed in perpetuity alongside other districts deployed by the team. Ethlance allows users to create an employer / employee profile, list and apply for open positions, rank and provide feedback for employers/employees, and to send/receive invoices. Ethlance does not charge any service fees, and users pay only the necessary cost of gas to broadcast their profiles, posts, messages, feedback, and invoices to the Ethereum network.