The Precium platform is a smart contract platform based on Onyx Chain, a Hybrid blockchain that combines the advantages of a Private blockchain with a Public blockchain. There are two parties involved in the Precium Platform, the Contract Users and the Contract Creators. Contract Creators provide a validated contract conditions or templates to Contract Users, and Contract Users can build a new Smart Contract in the Onyx chain using the conditions provided by the Contract Creators. In this process, the Contract Creators are rewarded for every time whenever the contract conditions are used. In addition, Precium Platform provides a secure and versatile form of smart contract for contract users by building a reliable Oracle solution that connects on-chain and off-chain.
Onyx Chain of Precium Platform is a Hybrid Blockchain in which each private block is attached to a public block chain. The content in the public block is freely available to all nodes participating in the Onyx chain. A private block is associated with a public block having its own hash value, and only the node which is directly related to the public block can view the corresponding private block. In addition, private blocks can access to external information on the Onyx Chain through Oracle technology and build smart contracts based on them.
Oracle is a technology that imports information on a blockchain from off-chain network into an on-chain network. In other words, Smart Contracts within a blockchain network will be able to collect information from outside of the blockchain through Oracle and use this information to determine whether the contract’s conditions are fulfilled. Therefore, the information that comes into the block chain through Oracle is directly linked to the reliability of the smart contract. Precium Foundation is working with institutions and laboratories to prepare a reliable Oracle API configuration, and is planning to make more partnerships as the usage contract expands. We will also reward for the usage of partner’s API on the platform. This will allow everyone to receive reliable information and expect healthy development of the Oracle ecosystem.
Precium’s token economy consists of Precium tokens (PCM) and Onyx coins (ONX). PCM is based on ERC20, a token standard that ensures the compatibility of tokens that can be distributed over the Ethereum network. This means that PCM will be interoperable with a number of use cases and will be used in a variety of projects to vitalize the Precium platform.
ONX is the key currency of the Precium platform; it is a stablecoin pegged at one U.S. dollar. On the Precium platform, ONX is used in Onyx chain smart contracts and as compensation for Contract Creators and Oracle API providers. Additionally, PCM can be exchanged with ONX on the Precium platform; their exchange rate depends on the external trade value of PCM.
Attention. There is a risk that unverified members are not actually members of the team
Use Case: Hybrid Blockchain for P2P Smart Contracts
We really like the team and partners behind the Precium. The smart contract platform is not a very innovative product for blockchain industry while the competition is very harsh. Precium wouldn't have a working product before ICO, the hard cap is rather high than low.To sum up, we believe that the team can deliver the product in accordance with the roadmap and has all the needed experience to compete with already established platforms.Opinions of our Midgard team members are divided - someone believes, and someone does not believe in the possibility of massive adoption of this technology in the future. Therefore, everyone makes an investment decision for himself.Considering all these factors our rating is 8 out of 10
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