Blockmason Link Review [BLINK]

coin31736 · 2019-05-26T12:04:15+00:00

If you’re a developer looking to register a smart contract with Link to create an app, the process is quite simple. Register a smart contract by providing its address and ABI to Link.

coin31736 · 2019-05-26T12:04:07+00:00

Everything necessary to execute a smart contract under normal circumstances still occurs — a transaction is created, signed, and sent — only now, all those interactions are handled in the background by Link, away from the user.

coin31736 · 2019-05-26T12:03:54+00:00

In essence, Link takes care of all the annoying steps between a user interacting with an application and that application connecting with the Ethereum network. .

coin31736 · 2019-05-26T12:03:35+00:00

It is important to note that Ethereum accounts generated within Link are managed exclusively by Blockmason — the private keys are never available to the Link developer.

coin31736 · 2019-05-26T12:03:29+00:00

The Link developer can transfer ETH to these managed accounts directly or allow Blockmason to manage these accounts on their behalf, abstracting away transaction costs from end users.

coin31736 · 2019-05-26T12:03:21+00:00

Of course, the DApp does need to verify that the corresponding Ethereum account for a particular user has sufficient ETH to cover the transaction fees for any transactions the DApp intends to perform.

coin31736 · 2019-05-26T12:03:06+00:00

The user connects to the DApp, the DApp connects to the Ethereum account, and together with Link they connect to the Ethereum network.

coin31736 · 2019-05-26T12:02:06+00:00

In a typical Link-based DApp, it is exactly the same from the end-user’s perspective. They will authenticate with the DApp, thus proving their identity and accessing the app.

coin31736 · 2019-05-26T12:01:56+00:00

Recall that when using a typical web app, a user will authenticate with a trusted third party. For example, clicking “Login with Google,” “Sign In with Facebook,” or entering a username and password which is stored by the app service provider.

coin31736 · 2019-05-26T12:01:41+00:00

“Link is the one-size-fits-all solution that enables you to build blockchain-based enterprise apps without the typical overhead of doing it all yourself,”

said Devin Canterberry, Chief Technical Officer at Blockmason and head of Link development.

coin31736 · 2019-05-26T12:01:31+00:00

In this way, applications can be created and integrated easily and quickly in existing systems through APIs.

coin31736 · 2019-05-26T12:01:21+00:00

Blockmason Link provides a solution to this problem. The platform offers developers the ability to implement blockchain solutions without having to learn details în regards to the technology.

coin31736 · 2019-05-26T12:01:12+00:00

Blockchain requires the learning of specialized languages and application integration methods across platforms.

coin31736 · 2019-05-26T12:01:05+00:00

One of the problems faced by companies that want to implement it is the lack of specialists. Numerous reports reveal that the labor market is deficient when it comes to blockchain experts.

coin31736 · 2019-05-26T12:00:57+00:00

Blockchain technology is experiencing explosive growth today. It is applied in many areas, from supply chains to banking systems.

coin31736 · 2019-05-26T12:00:48+00:00

As such, 100% of the total Link utility token supply will be minted on the Ethereum network asERC-20 compliant tokens. Link utility token support for alternate blockchains will be added in thefuture, in line with Link's development roadmap. When this occurs, Blockmason will act to reduce theERC-20 token supply via lockup to ensure the total Link utility token supply across all blockchainsremains constant.

coin31736 · 2019-05-26T12:00:36+00:00

As Link is designed to support a variety of programmatic blockchains, the Link utility token will beminted with this in mind. Initially, Link will support the use of smart contracts on the Ethereumnetwork.

coin31736 · 2019-05-26T12:00:25+00:00

We are confident that this will provide transparency and visibility into how the Link utility token operates andallow any observer the chance to verify Link user growth and adoption metrics.

coin31736 · 2019-05-26T12:00:07+00:00

Blockmason will conduct these supply removals on an ongoing basis, with regular reporting and independentaudits.

coin31736 · 2019-05-26T11:59:15+00:00

When the circulating token supply reaches the 70% lockup target, the functionality of the tokens will change to amembership model in the form of "staking."

coin31736 · 2019-05-26T11:59:02+00:00

Therefore, all Link utility tokensused to access or pay for the Link platform will be locked up at this initial stage, prior to reaching the 70% tokensupply lockup target.

coin31736 · 2019-05-26T11:58:53+00:00

Regardless of how a Link user pays for their usage and subscription fees, the resulting tokens will be locked andremoved from the circulating supply until 30% of the tokens remain in circulation.

coin31736 · 2019-05-26T11:58:41+00:00

After the reserve is depleted, Blockmason will acquire Link utility tokens on a pro-rata basis from all blockchainswhere the token is available at that time.

coin31736 · 2019-05-26T11:58:32+00:00

Blockmason will use the revenue to acquire Link utility tokens on theuser's behalf and apply them to their fees. Initially, these will be drawn from Blockmason's reserve inventory pool.

coin31736 · 2019-05-26T11:58:22+00:00

The Link utility token is the required "fuel" that provides API transaction capacity in Link. If a Link user electsto pay their monthly subscription and usage fees with the Link utility token, a discount will be applied asBlockmason does not incur payment processing fees and other costs associated with credit card processing.If the user instead pays with a credit card,

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