Bitcoin, Ethereum and the Beginning
Bitcoin came into the technology world with a decentralized, peer to peer ecosystem which was accepted by many. This opened the door for others. Ethereum came in with the decentralized ecosystem and smart contract. What is smart contract? This is simply a protocol to facilitate and ensure safer and secured transaction, it also manage agreements between/among parties.
The cryptocurrency sector is getting broader with the adoption by different companies but there are still worries from crypto enthusiasts and experts. They believe volatility and improper financial infrastructure is a major issue that need to be improved before it takes over the world.
Smart Contract
Smart contracts is typically a business of Ethereum, it is believed to create secured transaction. Let me stop your thought for a while. There are proved vulnerabilities with smart contracts. The three vulnerabilities were discussed explicitly to be greedy, suicidal and prodigal (Firma Medium). This is definitely discouraging to investors and businesses looking into Ethereum’s smart contracts. The fear is, more threats will be detected as researches continue.
The major attraction to Blockchain technology is security. With these vulnerabilities, the technology is being exposed. Firmo has definitely provided a solution we should all look into.
What is Firmo?
Firmo is working to provide an infrastructure for a safer and more secured financial contracts. With this, the vulnerabilities discovered on Ethereum’s smart contracts will be resolved. With FirmoLang, people can actually design, build and execute smart derivatives on Firmo. Firmo is presently working with Ethereum and are currently seeking to work with Cardano, Neo and Qtum. This will allow wider adoption of Firmo.
Derivatives
Derivatives provide price stability to an entity. This is why it is adopted by Firmo. This is the solution to volatility experienced in the crypto sector. Derivatives ensure parties involve in contracts keep to an agreed price over the time of the contract. This will ensure that the value of an asset remains despite price fluctuation which may occur.
The Firmo Solution
Vulnerabilities is a big issue that Firmo is solving through FirmoLang. This language is used to create smart derivatives and there are templates a designer can choose from or can simply write his own code using Firmo’s syntax.
This is an introduction video:
Firmo Team Member
- Dr. Omri Ross – CEO & Founder
- Ariel Laub, Gury Tarub – CTO
- William Dashan Gan, Anders Sommer-Larsen – Senior Software Engineer
- Martin Thiele – Full-Stack Developer
- Mads Gram, Thorkil Vaege – Senior Compiler Developer
- Johannes Jensen – Chief Economist
- Elad Shabi – Business Development
- Idan Bar Shalom – Finance
- Dovev Goldstein – Marketing
- Lasse Kristensen – UX/UI
- Lior Papirblat – Product
- Analisa Winther – Community
- Nir Blumberger – Community Advisor
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