jakarta28: AIDA

AIDA SERVICE

What is a smart contract and how does it work in our AIDA services?

The idea of a smart contract back in 1994 to Nick Szabo. He is a lawyer and a cryptographer, he understands that it is possible to conclude "Smart Contract" based on a decentralized registry. But then there is no suitable platform, so it can be translated into reality. However, the situation changed in 2008, when technology blockade emerged.

In turn, the Block Chain is a technology spoken of all over the world. Information about blockade technology is recorded in encrypted form and distributed to all computers on the network. Each new block contains information about the previous one, which leads to the reliability of the circuit and to write information to the block, you need to sign the action with a unique private key. This ensures that no one will enter information on your behalf and without your knowledge.

That is, simply, smart contracts are computer algorithms designed to conclude and maintain their own execution contracts run in blockade environments.

Because smart contracts operate on block chains, they give confidence in trust and reliability of transactional secrecy whereby outsiders do not participate, neither government agencies nor banks. This is an action / transaction done on a smart, easy-to-track, transparent and irreversible contract.

However, smart contracts get extensive practical applications with the look and development of Ethereal projects. When the founder of Vitalik Buterin in 2013 came to the conclusion that bitcoin was less appropriate as the basic protocol for smart contracting, because it was not originally designed for this task. Furthermore, Mr. Buterin decided to make from the beginning the most suitable protocol for smart contracting.

And our smart AID token contract is compiled based on the ERC20 standard (https://github.com/Aida-Market/AIDA_ICO_SmartContract).

The hallmark of our contract is the token price set in USD and not in Ethereal, which avoids the risk of interest rate volatility for investors.

This technical feature is possible with the use of Oracle, a platform featuring setRate every 30 minutes, which then transmits the actual ETTH / USD exchange rate of the top five cryptourrency exchanges as smart contract parameter. The token price is set to $ 0.25 each.

In addition to investing in Ethereal, investors will be able to purchase AID tokens for BTC, LTC, BCC and USD (from debit cards). The payment process in this currency will occur through the use of an automated platform that calculates the size of every incoming transaction in USD equivalent, tracks the number of transaction confirmations and once the transaction is confirmed, generates a mark on the Ethereal address, ie indicated by the investor in the personal account.

The token issue is generated by raising the method (buyForInvestor), - to purchase crypto-currency signatures-BTC, LTC, BCC directly from the shipping address. To ensure the release of tokens in real time, the phenom (shell) principle developed by Phenom (https://phenom.team) is used, when the entire release process is distributed simultaneously between the three controller addresses, allowing the production of real-time tokens, even in the case of smooth network congestion.

The ICO process is divided into two stages:

1. Early token sales to investors (Pre-ICO)

○ Terms: 30.12.17 09:00:00 UTC + 6-20.01.18 23:59:59 UTC + 6

○ During this stage tokens are sold with a 15% bonus.

2. ICO Main Stage

○ Terms: 21.01.18 00:00:00 UTC + 6-10.02.18 00:00:00 UTC + 6

○ No bonuses are applied at this stage.

AidaIco is the first intelligent contract to be structured and based on the concept outlined by Vitalik Buterin. Where during crowdsdale, investors are given the opportunity to return the funds invested 1 time:

- For ETH investments: all tokens stored at the investor's address are burned and sent back to AidaIco's smart contract investor wallet.

- BTC, LTC, BCC investment: the refund process is empowered by Oracle. The amount of the investment is returned to the investor wallet, less the transaction fee.

- Key withdrawal: during the main phase of ICO return is only possible until January 30, 2018, inclusive.

Our company is committed to using smart contracts, because we believe that contractual relationships can be self-governing in part or even completely. Cryptography based on smart contracts, providing a higher level of security than traditional contracts.

Therefore, our goal is to provide better, new, modern and innovative services to AIDA.