Smart Contracts are applications which involve more than one party that can be
embedded within a blockchain.
The Smart contract is part of the evolution of
how we use blockchain
technology: all Cryptos 1.0 including Litecoin and Bitcoin do not directly have Smart Contract capability as the bitcoind software they are derived from does not directly understand the commands necessary to enable them.
When you send a payment with Bitcoin, your coin goes to the receiver and you can only hope that the other party will fulfill their side of the deal. With Smart Contracts, a blockchain entry is made ensuring that both sides of the deal (payer and receiver) fulfill the agreement, automatically.
A sidechain is a separate and
optional blockchain that reports back to the master chain in many different ways. Sidechains are nice, because they allow every application to run on its own blockchain without bogging down the master chain: you only install this sidechain on your PC if you want the Dapp requiring it.
When the Quintessence ecosystem is ready, users will have many exciting Dapps to choose from; developers will have an advanced architecture to support and help them implement their ideas.
The Quintessence app is a 2.1 environment that operates around it's own modern blockchain. At launch, the Quintessence network will be supported by the Sparks tokens (SPK), and will support sidechains. Not long after, we will add smart contracts, to be followed by the addition of the established Crypto Bullion (CBX) as the investment counterpart sidechain.
Quintessence will not stop there, however; please see the White Paper for a detailed view of our vision: we want to create a complete economic infrastructure which will entice users and companies to join.
Spark is the token that ensures the integrity and functionality of the Quintessence Network. Spark is the perfect modern token that will allow Crypto 2.0 objects to be created in the blockchain, such as Smart Contracts.
Speaking of smart contracts, we will incorporate to the Spark network all of today's features to facilitate them, while taking under consideration what we have learned from the experience of other projects.
The Spark tokens will run on the PoSP algorithm at 1% yearly inflation; PoSP is a proven, fair and rewarding algorithm which encourages network safety and user creativity.
There are many reasons to want to start from scratch: sometimes evolving to something better demands it. The question is, why would you invest time and resources to develop your next Dapp on one of the existing token networks? At this moment they enjoy some degree of popularity, from a lack of anything better to choose from but from a developement standpoint, many of them are stalled.
Poor leadership has led to division in some cases, some other popular coins have semi-centralized staking with money offer growth (a.k.a. inflation) set to staggering rates, keeping all benefits for themselves. Some so called "state-of-the-art" tokens are even still mined by wasteful and unfair algorithms similar to Bitcoin's old mining method. Then again most tokens make us choose between Smart Contracts, or Sidechains as they can't yet do both.
Let's leave it at that; while we appreciate every development effort towards a better decentralized currency system, there is still much room for improvement, this is why we want to evolve to something new.
MARKETING STRATEGY DIRECTOR
CBX FOUNDER / DEVELOPER
QUINTESSENCE AWARENESS AND RELATIONS WITH HISPANIC WORLD
SENIOR SPARK DEVELOPER
SENIOR CBX DEVELOPER
Crypto Bullion is a peer-to-peer internet currency that enables instant payments to anyone, anywhere in the world. Its fundamental specifications enable it to more efficiently function as a store of wealth. CBX fundamentals emulate the properties and supply of gold.
An initial Public Coin Offering (IPCO or ICO) is a popular way to raise money for a new cryptocurrency project by distributing a percentage of the initial coin supply among the early supporters and backers. An IPCO solves the problem of initial coin distributionGo to the faq area for more info ....
While Crypto Bullion shares many traits with Bitcoin such as fast global payments, decentralization, pseudo-anonymity, and non-reversible transactions, there are many improvements which allow Crypto Bullion to more reliably store wealth.Go to the faq area for more info ....
you start to win since the first day, every invested CBX has a value of 4000 Sparks coins (or more, depending on the daily bonus), in addition, when you invest you receive an additional percentage. If we reach the goal of CBX proposed you'll receive in a period of 3 to 6 months the firstfruits of our new crypto currency.Go to the faq area for more info ....