Can someone quickly explain to me what the Fuel token will be used for?
I did read the whitepaper, but an example would be great.
And if its possible in a way that I can understand what the monetary value of this token is, will be when everything works and why I can assume it will rise in worth.
And what will be target groupe of this service?
Thank you in advance
Etherparty is an easy to use smart contract creator that allows everyone without coding skills to create, run and manage smart contracts.
So consider it like "smart contracts for the masses" with pre-made contract templates that can easily be customized and run.
It removes the complexity of creating, managing and executing smart contracts on any blockchain.
The platform allows users to create an enforceable, self-executing digital agreement for all types of transactions.
Etherparty will initially work on Ethereum but we are aiming at being blockchain agnostic. Through Rootstock (RSK) we will be able to run smart contracts on Bitcoin too.
In the future we are also looking to integrate with any other blockchain that becomes popular and we are open to collaborations.
FUEL, the token, is needed to perform any action on Etherparty, it's the only mean of payment to create a smart contract on the platform.
It pays for the ETH or Bitcoin tx fees, covers for the cost of the contract and any other cost associated with the platform.
One token does it all basically. Much easier for customers too who instead of having to manage multiple tokens for multiple blockchains will only require the one.
We cannot speculate on monetary value however we aim for the platform to become really popular with all sorts of smart contracts available.
Users can create peer-to-peer escrow contracts, wagering, token creation, crowdfunding, supply chain management, real estate agreements, contractor agreements and more.
Some of the contracts will cost more than others (in the thousands of FUEL) so there will be demand from Etherparty customers generating network effect.
Our target markets are consumer as well as business and corporate. We believe many businesses out there will benefit from the ability to use smart contracts for their activities cutting down on overhead costs.
If you look at the roadmap on our whitepaper it should give you an idea on how we plan to progress from web app to mobile app to adding Enterprise features and so on.
