Share Distribution Protocol: Successful Validation on the VeChainThor Blockchain
After the successful mainnet launch of the VeChainThor blockchain, our developers started to develop and test our patented Share Distribution (SD) Protocol on VeChain’s Testnet.
Even though deploying smart contracts on VeChain are quite similar to Ethereum, the differences are real; there was still a need to be well-tested by our development team in order to secure our ETH to VET transition. Nevertheless, we successfully deployed our standard SD Protocol on the VeChain Testnet, which lays the foundations for the successful integration of our Inheritance Platform (Alpha Release).
Currently, we are examining the gas cost of our contract deployment and/or blockchain transactions in order to tune them precisely. The completion of this deployment is a huge milestone and we can now start auditing procedures with third parties on our SD Protocol smart contracts that will be used in the following protection plans:
● The Family Circle Plan (TFC) — The TFC is for those who want defined members of their inheritance to access assets on the day of their passing.
● The Business Continuity Plan (BCP) — This product allows companies to distribute authority, ownership, and assets in programmable smart contracts to be executed on a set event, outcome, or procedure.
● Investment Circles — This is an improvement on the multisig wallet for those managing grouped funds to operate on their own defined terms and procedures.
● Safe Haven Vault — On top of securing your digital assets (private-keys/seeds/passwords from FB, Google, documents, etc.) on the blockchain, you are able to distribute the necessary data to designated individuals under the terms you set.
● TrustNode — This is a Masternode Sharing Solution, which will launch at the end of September. The product is designed for people who want to own a share in masternodes for VeChain or other projects but lack sufficient collateral to do it themselves. In that way, they can make an investment group and share node/rewards within the group.
Now that we are fully integrated on the VeChain Thor Blockchain, we can set the groundwork to begin the Beta release for which we will invite some of our community members and early backers to beta-test the platform in the near future. Stay tuned as we continue to update our community with exciting news.
Whitelisting and KYC for the VeChain community round is open!
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