The Sharechain is a platform which is open public, smart, and credible in its operation and also economy based. Various sharing domain applications, sharing mobile charger, digital product, guesthouse, and other credit sharing functions are some of the uses of the platform. To provide a network which is interoperable in different fields, it utilizes artificial intelligence and internet of things which also allows the creation of a sharing ecosystem center which is effectively integrated. The Super Smart Share (SSS) is the token which the sharechain platform created for its operation.
What is a Sharing Economy?
A sharing economy is used to describe a process where a person or company retains the ownership of rights while it can temporarily transfer the use of the right in question. This definition is given by Sharechain platform. Airbnb and Uber are some popular companies which make use of the sharing technology.
Generation of intelligent contracts is available to users by selecting the applicable conditions on the shared application. External data is obtainable through the smart contracts which also gives users the opportunity to check the ecosystem for integrity, correctness, and also to ensure that there has been no tampering.
Remove Control Ecology
A shared ecosystem is the end result of the development process of the Sharechain. The ecosystem simplifies the sharing process of enterprise data by using the blockchain technology in the process. A third party authority is also used in ensuring the data indicators which are shared on the platform are quantifiable and also accurate.
The Sharechain has an open platform which combines with the Sharechain block network to make up the system. A shared ecosystem, customers using the product, sharing business, credit assessment service providers, and sharing chain exchange are some of the important players on the platform.
The SSS token
All interactions and transactions on Sharechain make use of the SSS tokens. This digital currency ensures the execution of all transactions and tasks while also fueling the Sharechain intelligence contracts. As a result, services are only available in exchange for SSS tokens. Some of the important roles of the SSS tokens include:
- Third-party consumer services
- Sharechain token and consumption sharing
- Sharing of data consumption
- Consumption of smart contracts
- Sharing of transaction services that take place on the platform.
Compared to the speed of transactions confirmations on the Bitcoin, which is an average of 10 minutes, a sharechain block has an average of 2.5 minutes transaction confirmation. Although it may not be as secure as that of the Bitcoin, it is excellent for small-scale merchants that do not require the extra security of the Bitcoin. The 1-confirmed transaction process which the platform offers is a great option for users who are exchanging sharechain tokens in small amounts.
The retarget block of the sharechain will be similar to Bitcoin’s 2016 with 3.5 days retarget to account for the speed at which they are found. By merging Scrypt proof of work and fast retarget time, it hopes to eliminate problems like those that hit Namecoin.