If you are a tech enthusiast (like me) then you would know that Blockchain has taken the world by storm. We can easily see various companies trying to develop applications based on blockchain technology. Ethereum is one of the most used platforms for developing the various decentralized application. Ethereum comes with an inbuilt support of Smart contracts (a self-executing computer program) which makes the platform more dynamic. But, their smart contracts have some loopholes because of which Ethereum cannot be used to develop applications in various sectors like legal, controlling AI and many more.
One of the major limitations of present day smart contracts is that they don't allow the developer to create a transaction between two different blockchains. This means that one blockchain cannot communicate with other. Oh... so many loopholes. Does this mean that Blockchain does not have any future? Is blockchain a dying technology? But, let me stop you right there as there is nothing like that. There are various companies who are working on improving the functionality of these smart contracts. One such company is Kirik. Kirik is planning to add various new functionalities to smart contracts (based on Ethereum) which will open doors to new fields. If they manage to achieve their goal then they could lay the foundation for next-generation blockchain technology. So, I decided to dig deeper to find out more about the company and various services offered by them.
Kirik platform
Kirik is a project which aims at removing all the shortcoming of present-day Ethereum smart contract. They are working on Semantic contracts (can be treated as next version of smart contract). Semantic contracts would allow developers to create transactions between various blockchain and also outside them. Kirik also promises that Semantics contracts will be much easier to understand and will support visual editor (with template system) so that an average developer can also get started with developing the blockchain based application.
The automatic verification feature of Semantic contracts would allow quick creation of a performance monitoring system. Kirik also said that the Semantic contracts would open doors to a various new sector like controlling an AI system, e-commerce sector, cross blockchain applications and also to monitor the implementation of various public projects by the government.
ICO and Team
Kirik uses ERC20 token which is created on Ethereum blockchain. The company has released 700 million KRK tokens for sale. Kirik would organize a pre-ICO sale from 15th August 2018- 17th August 2018 and the main ICO sale from 15th September 2018- 15th October 2018. The tokens will be sold at a rate of 1 KRK token= $0.05USD. However, Kirik will only accept Ether, Bitcoin as the mode of payment for the purchase of KRK tokens.
Conclusion
Kirik plans to launch its visual contact editor in October this year which will be followed by the release of various KIRIK project contests. Kirik decentralized MVP will be launched in December 2019 and its AI contracts to semantic contracts conversion MVP in April 2019. Kirik also plans to organize various contests for blockchain semantics gateway in August 2019. They will also organize various meet-ups where you can interact with the company's officials to get more insight on the idea and how they plan to achieve that.
Certainly, kirik has planned a lot for the future but only time will tell whether they will be able to achieve them or not. Kirik also has an experienced team who are determined to achieve their goal. But, the big question comes is whether the company is suitable for investment or not. Let me assure you that, Kirik has come up with one of the most unique ideas (out of all the companies that I have gone through). But what worries me is that Kirik's desire to improve the smart contract is not an as easy a job as it may sound. So, I am not sure that Kirik will be able to pull off whatever they are planning to do so in such a quick time. But, if they manage to do so then, that could be a great milestone in the field of blockchain technology. That's why you need to be completely sure before planning to invest in the company. The best thing would be to remain updated with all the latest happenings related to Kirik and then figure out what best for you.
You can remain updated to all the latest news related to Kirik via-
Website - https://kirik.io/
Whitepaper - https://drive.google.com/file/d/1hy2Et9NCd2qaZM7ijFAISY_FGpOJzXrQ/view
Ann - https://bitcointalk.org/index.php?topic=3374696.0
Telegram - https://t.me/kirik_protocol
Published by - jessicalaurenbt
Profile - https://bitcointalk.org/index.php?action=profile;u=1936052