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Keeping up to date with technology is crucial for the success of your business. You don’t want to fall behind or miss opportunities. Listen to Epixel Podcast to gain insights...
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Keeping up to date with technology is crucial for the success of your business. You don’t want to fall behind or miss opportunities. Listen to Epixel Podcast to gain insights into the recent reports on business, software, and technology. Hosted by Epixel Solutions, this podcast addresses advanced and up to date stories, useful tips and news, all at one place.
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Epixel Podcast
Epixel Podcast
Manage and Grow Your MLM Organization With Epixel Gift Plan MLM Software
7 NOV 2022 · Epixel Gift Plan MLM Software has become a leader in the direct selling industry by providing simple and effective solutions not only to manage but to grow your Gift plan MLM business. The highly advanced back-office system is powered with the latest tools and integrations and built on the most stable Python and Node.js platforms. We built the commission engine in Google’s Golang platform to ensure fast and real-time commission processing with configurable rank rules.
To know more about Node.js visit: https://en.wikipedia.org/wiki/Node.js
The software is integrated with solutions to track all the business data and provide actionable insights based on it. These dedicated solutions are called data-driven intelligence tools. Real-time business intelligence, Advanced distributor engagement tools and KPI card analysis are some of the data-driven tools, using which the decision makers can take actions to grow the business.
To know about Real-time BI visit: https://en.wikipedia.org/wiki/Real-time_business_intelligence
With the softwares powerful back-office support staff tool, the distributors experience a new supporting radar in Gift plan MLM business. The services include a wide range of tools from the basic support ticket system to the most advanced chatbots to keep a good relationship with the customers.
To improve the member engagement a variety of compensation packages are included. Give help & get help is one of the basic compensation structures in the Gift MLM plan. Other compensations are the Introducer bonus, which an existing participant gets while introducing a new member into the organization and a Stage advancement bonus, which is the bonus given by the company when a member turns eligible to move to the higher level.
For more details visit: https://www.epixelmlmsoftware.com/gift-plan-mlm-software
Organising Your Home Party Business Made Easier With Epixel Party Plan Mlm Software
4 NOV 2022 · Epixel Party Plan MLM Software simplifies the hurdles of hosting and managing a home party plan business. Our back-office engine is tailor made to support each user profile associated with the party plan direct sales.
To know more about party plan visit: https://en.wikipedia.org/wiki/Party_plan
User profiles such as party manager/admin and party host/consultant are provided with unique features to easily handle their responsibilities. Additional features for guests are integrated to engage them more effectively.
To increase the productivity of the host, a variety of commissions and bonuses are provided. The compensation configuration rules can be set based on the company requirements and are customizable using our MLM system. Some of the most common compensations are Direct Sponsor Bonus, Indirect Sponsor Bonus, Level Bonus, Fast Start Bonus, Rank Bonus and Rank Rewards.
An extensive range of custom made tools are assigned for party admin. With these dedicated tools the admin can manage the entire host network, track every active host, calculate the rank, approve/reject party requests, giving rewards for high performing hosts and assign a host with a party.
Replicated website, Business intelligence tools, Quick invite button, Member management, promotional tools, Lead capture campaign and ecommerce integration are some of the important features assigned to the party host. With these features the host can easily organise and handle the party.
To know about Business intelligence visit: https://en.wikipedia.org/wiki/Business_intelligence
A wide range of features are assigned to the guest profile to improve their activeness in this business. The dashboard for guests contains tools to search a nearby party, send requests to available parties, manage the ordered products and an option for redeeming coupons.
For more details visit: https://www.epixelmlmsoftware.com/party-plan-mlm-software
Automate Your MLM Business With Epixel Monoline MLM Software
2 NOV 2022 · Organize and control your Monoline MLM business with the top-notch back-office system Epixel Monoline MLM Software. Integrating the latest technologies and delivering it successfully our system is the best solution to run your business successfully. Epixel’s commission engine is designed to adapt any configurations by meeting customer preferences and expectations.
Know more about back-office system at: https://www.investopedia.com/terms/b/backoffice.asp
Using our high end data-driven tools, identifying prospects and finding new business opportunities is made easy. Our data-driven intelligence tools include Real-time business intelligence, Distributor engagement tools, KPI card analyser which also help to increase the distributor engagement and to make smarter decisions based on business data.
Specially engineered tools are incorporated into our system to manage the entire business network. Monoline genealogy, Unilevel sponsor tree, Network explorer, Downline sales tracking are some of the member management tools using which the business team can manage unlimited member networks.
E-commerce integration, CRM system integration, Lead capturing, Lead workflow management, interactive video integrations, Blockchain-based DApps integrations, Cryptocurrencies like BTC, ETH, and ERC tokens are the integrations we provide to ensure a well-organized back-office platform. Giving full value to your business, we assure you fast and smart delivery of the package to make the business run smooth and error-free.
Know more about DApps at: https://en.wikipedia.org/wiki/Decentralized_application
Migrate to our back-office system to enjoy the premium features such as Autoship, Replicated websites, Payout compression, Order management, Multi-wallets, Multiple business centers, Career reward program etc.
For more details visit: https://www.epixelmlmsoftware.com/monoline-plan-mlm
Boost Your Mlm Business 10 Times Faster With Epixel Generation Plan Mlm Software
1 NOV 2022 · Epixel Generation Plan MLM Software is a one stop solution for your Generation plan MLM business. It’s powerful back-office features and high scalability elevates your MLM business to a higher level. The back-office system includes premium features such as E-commerce integration, Autoship, Replicated websites, Payout compression, Order management, Multi-wallets, Multiple business centers, Career reward program etc.
Know more about Multi-wallets at: https://en.wikipedia.org/wiki/Cryptocurrency_wallet
With the latest data-driven intelligence tools, make smarter decisions and engage more distributors. Real-time business intelligence, Distributor engagement tools, KPI card analyser are some of the data-driven intelligence tools which help to increase the distributor engagement and to make smarter decisions based on business data.
Know more about KPI at: https://en.wikipedia.org/wiki/Performance_indicator
Reach more prospects and improve your business with our Intelligent promotional tools. Our system also includes conventional tools like lead capture pages, social media integrations, referral link promotions for quick business conversions.
Expand your business globally with our multilingual dashboard by breaking the language barriers. Epixel generation plan MLM software comes with 9+ languages which helps to personalize your distributor dashboard with a language switching option.
To ensure fast and real-time commission processing our commission engine is built in Google’s Golang. Also our system is architectured with the latest technologies like Python, Node.js, etc .
Multiple unique compensation structures along with conventional compensations can be configured to motivate the members. Generation bonus, Referral bonus, Retail commission are some of the attractive incentives provided by Epixel generation plan MLM software.
For more details visit: https://www.epixelmlmsoftware.com/generation-plan-mlm-software
How Social Media Strategies Can Improve Your Direct Sales Business?
31 OCT 2022 · Direct selling companies are one of the most innovative and forward-thinking types of businesses. It is no surprise that these companies have quickly embraced social media as a way to reach out to customers. However, not all direct sales companies are making the best use of this powerful tool for their business; some see it more as an obligation rather than an opportunity. But still, direct selling companies have seen an increase in the use of social media for a variety of reasons. The most significant reason is that it has allowed them to interact with their potential and current customers on a personal level, which has been very beneficial to businesses in this industry. For many direct selling businesses, social media activities are seen as a chore rather than an opportunity to reach out to potential customers. Here, we are discussing some of the direct selling social media strategies that have been adopted by direct selling businesses.
In today's marketplace, customer happiness is a key driver of business success. One way to increase the happiness of customers is to include more user-generated content in your marketing strategy. A new study shows that more user-generated content on a company's website leads to happier customers. User-generated content has a very strong influence on customers, especially because these are reviews that come from real people who have experienced the product or service. These reviews will be more credible than any other form of advertisement because they are honest and unbiased.
Epixel Unilevel MLM Software Provides Turnkey Solutions for MLM Business
31 OCT 2022 · Epixel Unilevel MLM software helps you to build your MLM and Network marketing business with unlimited features that can help to take your business to the next level. Business intelligence and actionable insights are the highlights of the Epixel MLM software. Unilevel MLM software manages distributor engagements, advanced promotional tools, unilevel compensation calculation, lead funneling. An advanced and high-speed calculation will automate the bonus calculations and increase business conversions.
Check this link:
https://www.differencebetween.com/difference-between-direct-marketing-and-vs-direct-selling/
Advanced Features:
Data-driven business intelligence tools (BI)
Analyze business KPI analyzer
Error-free compensation calculations
Smart distributor engagement tools
Intelligent promotional tools
Internationalization tools
Unilevel MLM Software Back-office features:
Business administrator tools
Distributors tools
Business & financial staff tools
Back-office support staff tools
Genealogy tree view
Compensation engine
Contextual data analysis
Multi-wallets
Member management tools:
Unilevel team genealogy
Network explorer
Downline sales tracking
Promotional Tools:
Distributor training platform
Replicated website
Career program with configurable rules
Payout compression
Holding tank
Multiple business centers
Modify unilevel genealogy structure:
Career reward program:
Promotional landing page leads capturing
Lead generation funnels
To know more about: https://www.investopedia.com/terms/e/ecommerce.asp
Integrations:
E-commerce or shopping cart
Cryptocurrency or blockchain
Online game platform
Analyze and experience more features of Epixel unilevel MLM software:
https://www.epixelmlmsoftware.com/unilevel-mlm-software
How to Build a Successful MLM Business With Epixel Binary MLM Software
28 OCT 2022 · Epixel Binary MLM software is a stable back-office and commission processing system powered with data-driven business intelligence tools. Binary MLM Software is specially designed for Direct Selling & MLM companies with premium distributor engagement features. Epixel binary MLM software is configured with the latest technologies like Python, Node.js, etc. to meet present and future goals. Epixel supports custom compensation requirements with custom bonus integrations to attract more distributors. It will motivate team development, increase sales growth and new recruits for binary MLM companies. Let us explore the features of Epixel binary MLM plan software. For more details visit: https://www.epixelmlmsoftware.com/binary-plan-mlm-software
Advanced Features:
Data-driven business intelligence tools (BI)
Analyze business KPI analyzer
Error-free compensation calculations
Intelligent promotional tools
Internationalization tools
For more details:
https://www.cio.com/article/2439504/business-intelligence-definition-and-solutions.html
Binary MLM Software Back-office features:
Business administrator tools
Distributors tools
Business & financial staff tools
Back-office support staff tools
Genealogy tree view
Compensation engine
Contextual data analysis
Multi-wallets
Member management tools:
Binary team genealogy
Unilevel sponsor tree
Network explorer
Downline sales tracking
Promotional Tools:
Distributor training platform
Replicated website
Career program with configurable rules
Payout compression
Holding tank
Multiple business centers
Modify binary genealogy structure
Career reward program
Promotional landing page leads capturing
Lead generation funnels
Integrations:
E-commerce or shopping cart
Cryptocurrency or blockchain
Online game platform
To know more about : https://www.gartner.com/en/information-technology/insights/blockchain
Top 100 MLM Companies in 2022!
27 OCT 2022 · Multi-level marketing is a business model used to market products and services directly to the customer.
Several small-level and enterprise-level MLM companies exist, selling different products and services that vary from beauty and personal care to telecommunications and energy services.
When it comes to compensation plans, each one is different and is dependent on factors such as network structure, product type, etc. The majority of the companies prefer unilevel plan, binary plan, breakaway plan as well as party plan.
Some companies adopt a combination of different compensation structures and elements to develop a hybrid compensation plan.
In this podcast, we discuss the top 100 MLM companies in the world based on the revenue earned by them for the years 2018 and 2019. Next, we read out some insights gained from studying the information on the table. So stay tuned until the end to catch up with some interesting insights on the top 100 MLM companies in the world.
Let’s talk about the top 3 companies on the list.
The first company is Amway which has been the top MLM company in the world for many years. They top the list with a revenue of 8.8 billion US dollars and made a positive growth rate of 2% compared to their previous year. Amway is still leading the pack and achieving further growth with their innovative business models, personalized products and new digital experiences for their distributors and customers. Amway follows the breakaway plan to manufacture and distribute health, personal, beauty, and home care products.
Avon comes second with a revenue of 5.5 billion US dollars. However, their revenue dropped by 3% compared to the previous year. Avon products include beauty, household, and personal care. They follow the breakaway plan.
The third company on the list is Herbalife and they earned 4.9 billion US dollars. They made 11% growth rate when compared with the preceding year. Herbalife products include beauty, household, and personal care. Their pay plan is binary.
And the list goes on. To learn about the complete list of top 100 MLM companies, click on the link given below to visit our blog “Top 100 MLM Companies in 2019”
And, what’s even more interesting is, the table incorporates many more details about the companies, such as their country, founder, CEO, achievements, social media stats, and more. The table also comes with an advanced filtering and sorting feature to obtain information about any company.
An interesting stat is 54% of the top 100 MLM companies are from US. So after performing a broad study on US companies, we have incorporated an attractive infographic in our blog.
Do you know? MLM industries are always a frequent subject of misconceptions. Direct selling industries have evolved from door-to-door selling, home party business, catalogs, and so on. Now, it’s through the internet and who knows what is next?
Let’s delve into MLM statistics, it gives you a clear picture of what networking marketing industry holds for us.
Multi-level Marketing has been popular for the last few years and several MLM companies have popped up as a result. Two MLM companies hit more than 100% growth rate in 2019, Naturally plus with 113% and Cosway with 107%. And 51% of top 100 MLM companies have recorded a positive growth rate.
Beauty and personal care are the segments with a wide range of products. This category is quite popular in the industry due to the ever-growing demands. Over 60% of MLM companies in the top list sells beauty and personal care products. Moreover, health, nutrition food & beverage, also maintain a competitive space in this industry with high growth rates.
From the year 2000, the rise of the MLM industry is quite attractive. 30% of the MLM companies in the top list are founded in 21 century, among that over 50% of companies made positive growth.
Women and network marketing seem to be a perfect blend. According to the World Federation of Direct Selling Associations (WFDSA), approximately 80% of distributors are women. Moreover, 13% of the top 100 MLM companies were started by women. At the same time, the number of men involved in direct selling is also growing significantly. It has reached a share of 25%, a decade ago it was just 12%.
Let’s check some facts about MLM business in US market
The concept of Multi-level marketing was primarily introduced in USA in the last 1920s, within no time it spread globally. 54% of top MLM companies are US based and more than 50% of them recorded positive growth. In 2018, US marked 1.3% growth in direct selling. Among the top 100 direct selling earners, 39 out of 100 are from USA.
Now hope you got an idea about the interesting facts behind the MLM industry.
Becoming successful and creating an impact in the MLM industry is not an easy feat. You cannot walk your path to success until you have built the path. No matter what stage you’re in, there are always successful people and companies that you can learn from. In these preceding insights, you can find the tales of successful MLM companies. After delving into these resources, we hope this collection of information will provide you some direction as you build a business that makes a positive impact in this world.
Have a good day
Understanding The Blockchain Technology
26 OCT 2022 · The real world is too restricted with drawbacks of the existing system and with constant research; people try to move on to find a better one. Back in 2009, the most innovative technology - “blockchain”, alongside with Bitcoin ( https://www.epixelmlmsoftware.com/blog/bitcoin-beginners-guide ), a digital currency became the best combo in the ledger world. With extensive knowledge and work experience in this technology, Epixel MLM Software ( https://www.epixelmlmsoftware.com/ ) have prepared an article about blockchain technology. Let me make it easier with the current system.
Savannah is horse-person, and she loves to go out and watch horse races. Now that she is interested in betting, she strongly believes that the horse she is betting on will win the race for sure. She wants to place a bet for a certain amount with her dearest friend Ann and that too with a big amount. The bet is on and she won it comfortably. Now that, Savannah has won the bet, she is asking for the betting amount to Ann and Ann refuses to give it. She says that she never even made such a bet with Savannah. At last a third person comes in and tries to settle down it by asking an equal amount of money from the two and promises that the money goes for the winner after a small interaction.
Savannah waits for the winning money and the third person never even showed up. Guess what, they both lost the money. The same scenario might happen in the real world.
With proper ledger and contracts, these fraudulent activities can be minimized and make it into immutable records with high transparency. Let’s enter into the ledger world, and explore all the necessary aspects covered in the blockchain technology.
What is blockchain technology?
Blockchain technology is a distributive ledger system used mostly to validate a transaction and process it with at most security. What exactly does validation stand for in this scenario? A ledger system stores all the transactions in the network and with blockchain concept, all the transactions are found meaningful by making sure there ain’t any misrepresentation happened.
Important terms in blockchain technology!
Digital wallet ( https://www.epixelmlmsoftware.com/blog/cryptocurrency-wallet-and-its-importance-cryptocurrency-software ) : Digital wallet a software program from which sending and receiving of a cryptocurrency is carried out.
Ledger: A digital record which contains all the transactions in the blockchain network open and is transparent in nature.
Nodes: Computers connected across the world to validate each and every transaction in the blockchain network.
Public key: It’s a cryptographic code used to receive Bitcoin from the network and is derived while creating a private key.
Private Key: A special key which gives a Bitcoin user to send it to others and it’s only accessible to the wallet holder.
Blockchain technology is well the best way to overcome all the drawbacks of the present system and give a perfect solution. The simple definition can be depicted as below,
From the above pictorial representation, it’s pretty much clear how the blockchain manages to work in the transaction side. A block contains many such transactions and then adds up in the blockchain network. We shall check this from the initial point of the transaction period.
What is the blockchain transaction?
Let’s continue this article with the betting guys itself.
Savannah wants to send 2 BTC to Anna, and basically a digital wallet stores this Bitcoin safely. Technically, Bitcoin comes with a private key which allows Bitcoin owner to send and receive Bitcoins. It’s not exactly a storage part, in fact, it’s more than that – sending & receiving etc. are done using this wallet.
Let's come back to where we left before when a transaction request is initialized, the first step is to check whether the wallet has the required amount of Bitcoin or not. Then the node system comes in, a ledger is connected to many computers with high-end configurations and computing power. They are called “nodes” and are spread out across the world. These nodes are used to validate from initial point to completion of a transaction. Every transaction is done via connected blockchain network, and nodes validate it.
As Savannah needs to send 2BTC to Anna, the following process kick starts.
Nodes need to make sure whether Savannah holds enough amount in the wallet.
While checking the balance of your wallet, all the previous transaction history is taken into consideration using the inputs as the reference(we will point out it in the coming sections of this article).
Check whether the source of the transaction is from Savannah’s wallet or not.
If these parts are okay, nodes approve the transaction request, and the transaction request will be accepted.
After the transaction, again nodes check for confirmation – whether Savannah’s wallet is debited by 2 BTC and Anna’s wallet is credited with equal BTC value, i.e., 2 BTC.
This is the simplest version or explanation of a Bitcoin transaction process.
Now that you know the non-technical side, the one question that might be disturbing you is – how exactly is blockchain technology different from that of financial institution structure?
Basically, financial institution/bank is a centralized system where transaction history is private in nature i.e. a team will be there to control, and the transactions are not available for public reference. Meanwhile, in the blockchain network, all the transactions are open to public, and everyone can access this information. And there is no centralized team to check these process or complaint if any errors occurred. However, one cannot alter this data without the approval of connected network.
You may call it as a risk part to bear – no customer support team to help you or assist you if something went wrong and the reason is that the system is open source in nature. The contributions came from many developers across the globe and it’s important for you to understand the technical side too.
How does blockchain verification work and how do you build a blockchain?
Now that you’ve got the basic ideas right, let’s move on, and understand the technical side now.
Beginning with the technical side, let me introduce you with two terms – “private and public key”.
Once the transaction is initialized, these keys are automatically generated. A unique pair of keys will be generated each time and as told before the private key makes the transaction with a unique id. A public key is generated alongside with a private key and this private key is used to make the transaction.
The public key is encrypted and available with the paired private key. While Savannah sends 2BTC, the private key will be generated and is used to send the Bitcoin. As the private key is not disclosed to the network, only she has the authority to send the Bitcoins from the wallet. As told before nodes will validate this transaction request checking whether it comes from Savannah or not etc. And this is done by decrypting the message of the public key.
Once a private key is generated for the transaction, a digital signature will also be generated and validates the source and the authenticity of a transaction. A digital signature is thus created for each and every single transaction in the blockchain. It’s like a string of data and unique for every transaction, henceforth this cannot be altered by anyone else.
In simple words, a combination of private key and the transaction request forms a unique digital signature. And then, broadcasted to every node in the blockchain network. The validation is now carried out using the digital signature and the public key, finally, the transaction gets completed and the ledger is updated with the transaction.
In short, every transaction is stored in the ledger after validating. How the nodes validate a transaction and what exactly is happening out there? Let’s see that part here.
Mining: A problem to solve!
Mining is an important term in blockchain and Bitcoins are earned using this technical process. Usually, when a transaction is initialized and broadcasted, the final step to confirmation is “validation”. And this validation is done via the mining process and until then, the transaction will be labeled under “unconfirmed transaction pool”. A transaction moves to the confirmation table only after a miner completes the validation part.
Basically, a mathematical problem is generated during the initial point of transaction request itself. And using a special hashing algorithm a miner resolves this special problem and to be honest it’s ain’t that simple! So, during the mining period, the nodes choose a particular transaction from the unconfirmed pool and then validate it. The same process repeats every time for validating the transactions in the blockchain network. For every validation process, the so generated mathematical problem differs. It’s vital because if every input (code used for mathematical problem) is the same then, one can easily expect or predict the corresponding output. A 256-bit address is generated and it’ll be in the hexadecimal (0-9 or A-F) form, a particular number of bits are then hashed to result in the form of 0’s (nonce). Once this is achieved then, the problem is said to be solved!
Smart Contract – A Beginner's Guide!
25 OCT 2022 · A technical contract or a set of rules declared during the initial period for every function in the digital format. After completing some valuable projects based on smart contracts, Epixel Solutions( https://www.epixelmlmsoftware.com/ ) open up the world of smart contracts for you. Let us make this clearer - it’s a computer protocol enforced in the coding part to satisfy the required conditions. The blockchain platform( https://www.epixelmlmsoftware.com/blockchain-development ) is used to set all these conditions, and here we're providing with comprehensive guidelines about the smart contract.
The conflicts are avoided within the network using such an efficient idea developed back in 1996 when Nick Szabo came up with such a revolutionized idea! During the initial stages, it was just a basic concept proposed by him. Later on, a well-maintained system is developed and then implemented with the necessary modifications.
How does a Smart contract work?
Let’s narrate about smart contracts with an example, and you’ll get proper knowledge of it.
Suppose you’re going to sell a plot, and you have many expectations about your buyer like,
You would like to sell the plot (say 2 acres), and you have an expected price in your mind.
Many buyers approach you and negotiation is always a concern.
You can’t just bargain everyone one after other and it’s a headache!
Taxes, land clearance, and other rules come in between as legal norms.
The purpose of buying might be your concern.
Likewise, many factors arise during this period of time, and you need to go through these each and every time.
If these all things are working or connected through blockchain then, 'smart contract' comes in handy! It can resolve all these complexities easily and make everything simple. With smart contracts, one can easily set the conditions, and if it is satisfied, you're good to go!
You can potentially implement such conditions in a smart contract, and with special conditions, you can make sure of everything. Say like, the right buyer, the right price, the right purpose, etc. Here, you can provide the negotiable range and if it matches the expectation - the plot is sold!
Here are a comparative infographic depicted for your best concern.
Blockchain technology helped to create a great awareness and we’ll give you brief information about it too. Obviously, you know what blockchain is, it’s a distributed ledger system that stores data and is available within the network. It is developed with the complex algorithm and can be made private or public! This technology has created a great impact in the beginning period itself and the smart contract is one of its feature or defining rules for a service/application.
Have you got the basic difference now? Normally, the working structure is too complex and with smart contracts, everything gets an easy touch. Take a look at some advantages of using smart contracts( https://www.epixelmlmsoftware.com/smart-contract-development ),
Advantages/Benefits of using smart contracts
Simple and well-organized
You can add a set of conditions, and every time a new buyer comes in, it'll automatically check these conditions.
A trust deal is what the world needs and you can easily earn it.
The contract is open for everyone in the network and you may call it – “transparent network”.
Timestamp functionality is used to set all the functionalities like negotiation
A cost-effective approach is maintained here
Accurate and reliable source of contract etc.
These advantages keep your requirements satisfy easily!
The paper and digital contracts involve a third-person and there is a possibility for a conflict here. This situation is also avoided with the introduction of smart contracts.
The applicability of the smart contracts varies from service to service. This service range from,
ICO services
Token sales
Transaction
DApp development etc.
In fact, every service where “if else conditions” comes in, follows a smart contract for best results. Let’s explain that part too – for ICO services( https://www.epixelmlmsoftware.com/blog/more-about-ico ), the smart contract is used by including various stages of token sales. Well, these stages are provided in the smart contract in a custom manner, and it varies as per the needs and requirements.
Say, like in token sales/ICO event, there may be many stages like private sales, public sales, Airdrop, Pre-sales, Post-sales, etc. And for each of these stages, certain conditions are set using the smart contract. Of all the tokens developed by the organization in the private toke sales, only a 10% may be available for sale. Such limitations can be set using the smart contract. Other factors like how long the event will be available for sales, bonus with certain conditions, etc. The variable function is used to implement the timeframe part.
"If else" condition is applicable here in the smart contract, say like - if the desired sales aren't closed in the right time, you can provide an else condition in the smart contract. It defines what happens next, what is the alternative, will the sales time extend and similar conditions. Complete detail of the project is available within the smart contract and is transparent in nature (public).
Applications of smart contract in real world
Well, we have discussed the applicability in services part but not that in the real world! Let’s see the field of applications,
Financial institutions
Insurance sector
Supply chain management
Mortar/property sector
Transportation/shipping segment
An easy flow of business is the result of such an innovative adaptation in the real world. Blockchain technology connects everything together and smart contract plays a vital role.
With the implementation of smart contracts in the real world, there is no need for any third party involvement. A direct set of results can be derived from this service, and this involves global participation - So, the distance never matters here!
Security measures are followed strictly in the blockchain system. Various security layers are used to offer such a sharp shield effect. Hence the information cannot be easily threatened by outside sources.
The world is digitizing and so is the real-life situation. Incorporating these special features into the real-life experiences make things simple and accurate. Smart contract comes in handy and makes blockchain popular to implement.
So, the smart contracts are going to have its impact on the future as well as the present time. Technology is going to push the limits and sooner or later the impact is going to see on the current system.
Keeping up to date with technology is crucial for the success of your business. You don’t want to fall behind or miss opportunities. Listen to Epixel Podcast to gain insights...
show more
Keeping up to date with technology is crucial for the success of your business. You don’t want to fall behind or miss opportunities. Listen to Epixel Podcast to gain insights into the recent reports on business, software, and technology. Hosted by Epixel Solutions, this podcast addresses advanced and up to date stories, useful tips and news, all at one place.
show less
Information
| Author | Epixel Podcast |
| Organization | Epixel Podcast |
| Categories | Technology |
| Website | - |
| epixelmlmsoftware@gmail.com |
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