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What Is a Smart Contract?

A smart contract is a self-executing contract with the terms of the agreement between buyer and seller being directly written into lines of code. The code and the agreements contained therein exist across a distributed, decentralized blockchain network. The code controls the execution, and transactions are trackable and irreversible.

Smart contracts permit trusted transactions and agreements to be carried out among disparate, anonymous parties without the need for a central authority, legal system, or external enforcement mechanism.

While blockchain technology has come to be thought of primarily as the foundation for bitcoin, it has evolved far beyond underpinning…

An initial public offering that uses cryptocurrencies

An initial coin offering (ICO) is a type of capital-raising activity in the cryptocurrency and blockchain environment. The ICO can be viewed as an initial public offering (IPO) that uses cryptocurrencies. However, it is not the most precise comparison, as there are some crucial differences between the two fundraising activities. Startups primarily use an ICO is to raise capital.

The main advantage of ICOs is that they remove intermediaries from the capital-raising process and create direct connections between the company and investors. In addition, the interests of both parties are aligned.

Types of Initial Coin Offerings

The two…

What’s hot? NFT, what else? The world is going bananas over this new term for over a year now. From art

to music, to NFT of famous tweets, yes you heard it right, these digital assets are being bought like a 14th- century Roman artifact.

But are NFTs worth all the hype and well, money? Many analysts believe they won’t last long. But many others claim that NFTs are here to stay and will forever transform investing. But first, what in the world is NFT?

What Is an NFT? What does it mean?

NFT stands for Non-fungible token.

What Is a Consensus Mechanism?

A consensus mechanism is a fault-tolerant mechanism that is used in computer and blockchain systems to achieve the necessary agreement on a single data value or a single state of the network among distributed processes or multi-agent systems, such as with cryptocurrencies. It is useful in record-keeping, among other things.

Consensus Mechanism Explained

In any centralized system, such as a database that saves key information about national driving licenses, the central administrator has the right to maintain and update the database. …

Author: Dr.Simon Hemmrich

Senior Consultant of IBAX Network

This first blog post is a series of blog posts considering business reputation systems based on blockchain technology.

It is often discussed what the killer application of blockchain technology

might be. Some argue that it must be NFTs (non-fungible tokens); others argue it must be dapps (decentralized applications). Vitalik Buterin, for example, believes there will be no killer application since nobody talks about it, yet (Qureshi,2017). However, in this blog post, it is argued that everyone has heard about the effect of the future killer application, even though it has not yet…

What is the reaction time of ordinary people? Approximately 300 milliseconds. Network and game players can reach 100 milliseconds through training, and jump reflection is about 50 milliseconds.

To better promote the continuous operation and breakthrough innovation of the IBAX network, IBAX established a foundation. The governance structure of the IBAX foundation mainly targets the efficiency, completeness, sustainability, and safety of project management. A board of directors was established and managed by the board of directors. The board structure of the foundation is mainly composed of technical committees, operating committees, audit committees, and advisory committees. Council members from the Foundation on behalf of the sub-committee recommendation, the members of the sub-committee next year, with the relevant industry experience cryptographer, blockchain experts, software engineering division, the business elite, management…

In order to congratulate, IBAX has more than 5K community users, We launched IBWizU activity. We will concentrate to provide more excellent products for our users.

Time: Jan29th — Feb 3th

Rewards: $200

Rules: Post Cool or funny photos with and using the hashtag #IBwizU

Bonus points for Creativity.


Top 3 Pictures which gain most Comment + RT + Like will share $150

We will give $50 to 5 lucky users who

1. Follow @IBNetwork

2. RT + Like + Tag 3 friends

Until Feb 3, more than 7K users join the activity and share with us very funny and interesting pictures.

Thanx for all participants.


Cross-Chain Solutions

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