Ever since the attention shifted from cryptocurrencies towards the blockchain technology, researchers and developers were trying to find ways to make it better, more efficient, more transparent, and cheaper to use. Blockchains still have a number of issues, especially some older ones, with Bitcoin at the very top.
While some have scalability troubles, which leads to high costs and slow speeds, others face different kinds of issues, but there is still no one single perfect solutions. Of course, there are some projects that have managed to create or upgrade their blockchains and even reach some game-changing breakthroughs.
However, the development and evolution of blockchain still continue, and it is likely that this technology will keep seeing improvement for years, if not decades to come. New blockchain-focused projects are emerging all the time, with new, innovative solutions, features, and aspects. One such project is Smilo.
Smilo is a blockchain project that has created a rather unique solution — a full-featured hybrid blockchain platform that can offer hybrid transactions, dApps, and smart contracts. In this context, the word 'hybrid' refers to its ability to combine private and public. In other words, Smilo can safeguard the privacy of data and still be transparent.
As such, it might be the ultimate current blockchain solution, which is why the project managed to attract quite a bit of attention. It can be useful for privacy-seeking individuals, but also for businesses and institutions.
It is based on the unique consensus protocol which its team developed. The protocol is known as Smilo BFT+, and it is combined the SNP (Smilo Network Protocol). It brings fast, scalable, secure, and sustainable transactions, which are in high demand these days. The project achieved what many considered impossible, and as such — it can be a single blockchain that will see to everyone's needs.
It can be used in numerous situations where it is necessary to have a single network highly secured, and still available to large numbers of people. This includes use cases such as donations, elections, medical records, public tender, and more.
Smilo is a project that already had its token sale, with its preICO being held from September 7th, 2018 to March 28th, 2019. The ICO itself took place from April 20th to May 10th of this year. The token itself, known as Smilo, is a utility token that was developed on Ethereum's platform. As such, it is an ERC-20 token, which was sold at $0.25 per 1 Smilo.
The token supply contains 200 million units in total, with 84,960.000 being offered for sale. Participants were able to obtain in exchange form ETH. The project had a soft cap of $2.5 million, and a hard cap of $18 million, and it was based in the Netherlands. It had three restricted areas, including Singapore, China, and the US. Everyone else was allowed to participate, provided that they went through KYC and Whitelist procedures.
The project's overall rating was more than decent, which indicates that the investors have faith in it, and are interested in its product. However, it still remains to be seen how the project is going to perform in the future.
|Start||June 1, 2019|
|End||July 31, 2019|
I understand why guys from Smilo are trying to present their solution as something of a unique nature - all for the sake of marketing and stuff - but virtually everyone understands that hybridization represents an inevitable stage of blockchain evolution. So, Smilo is moving in the right direction in this regard. I’d have to find more time to study their tech specifications, but even now I can say that Smilo has what it takes to compete with other similar projects.
We get the fact that the product offered by Smilo is somewhat unique, but, seriously, there is absolutely no need to spam the whitepaper with the word “hybrid”. The first two dozen times on a couple of pages would have been enough. Apart from that, the blockchain solution provided by Smilo is interesting from the technical standpoint. But the question remains whether end-customers, like the medical institutions and insurance companies, would be willing to adopt it.
I have met Elkan Roelen, who’s the founder of Smilo, in person at one of the tech events in New York. I was beyond impressed with how deep of an insight he has on network security and blockchain. If this team had incorporated all of this knowledge into the platform, I would say that I can fully vouch for this project. After getting myself acquainted with the technical aspects of Smilo, I can say that I am quite excited about BFT+ and the Network Protocol, especially since it is applicable to medical records because I happen to work in this field.
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