Introduction
Blockchain is a decentralized general ledger. It is a computer network that has an identical copy of the database and changes its status (records) to a common agreement based on pure mathematics. All this means that there is no need for any central server or any entity we trust (e.g. central bank, notaries, banks, Paypal, etc.). The blockchain is the technological basis for all cryptocurrencies, whether Bitcoin, Ethereum, Hyperledger, etc. An important part of the blockchain is the smart contracts, a piece of code that is stored in the blockchain network (in each participant's database). It basically defines the conditions to which all parties using the contract agreement. Therefore, if the required conditions are met, certain actions are executed. Because the smart contract is stored on all computers on the network, everyone must run it and get the same result. This way users can be sure that the result is correct.
Blockchain and Smart Contracts open many doors to new decentralized businesses and eliminates the need for expensive third parties. Many new companies are now working on this technology, and large companies are testing it in closed networks to collaborate directly with each other without the need for intermediaries. For that reason, there is a lot of projects that are starting to use this new technology. However, not all of them are worth it. We have to read well what each project is dedicated to, what is its whitepaper, its qualified advisors, etc. As I said, blockchain technology has gained popularity due to the hype about cryptocurrencies which has shaken many startups to launch their own cryptocurrencies even without convincing fundamentals. This trend has emerged because new entrants have been more agile in adopting emerging technologies compared to incumbents who are hampered by legacy systems. However, this competitiveness and this advantage enjoyed by the new players may be short-lived, as no economies of scale are taken into account.
The art is one of the most relevant architectures in our society and very few projects are implementing blockchain on this. I think that the art projects should be start to implement this technology due to could bring a revolution on it. The project I'm going to present you is Pastel Network (https://www.pastel.network), a new world for creators and lovers of art.
Definition
In more detail, Pastel is a novel platform powered by a secure blockchain, where artists can publish and collectors can buy rare digital art like never before. Its own protocol could solve industry-wide problems faced by artists and collectors alike.
Goals and benefits
There are a lot of benefits that the platforms could bring for you. However, I select the most important ones for every beneficiary part of the people that Pastel involves. I recommend you to explore their Whitepaper to obtain more info about that and to get more information about your benefits depending on who you are: artist, collector or cryptoinvestor.
Main features
- Unique ownership that allows someone to invest, trade, profit and even distribute shares of your digital assets, a first in the art world
- Tradable Assets providing a platform for owners of limited edition or unique works of art to sell their assets in a virtual auction environment.
- Proven authenticity that guarantees that your art assets are authentic forever.
Token details
The Pastel Network token is called PSL. PSL is built on the Pastel Protocol and based on Bitcoin, Dash and ZCash protocols. The main function of the token is to allows digital art to be uniquely traded on a decentralized platform.
Bounty program
The project gives the opportunity to earn PSL tokens performing some social media tasks and doing simple steps from the bounty program explained into the following Bitcointalk Thread here (BTT_Thread_Pastel), where you can access the link in order to see what are the conditions to become an early PSL contributor and start acquiring tokens.
For more information about the project, you can visit and read their WhitePaper available here (Pastel_WP). I hope you liked the post and soon I'll send you new ones.
Roadmap
- Short term: Loaded PoW
- Mid term: Quantum Resistance Signatures SPHINCs.
- Long term: Using steganography to encode SPHINCs signatures as QR codes in images.
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Author Details
Email: [email protected]
Bitcointalk username: adriaparcerisas
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1870482
Proof of authentication BTT: #317
Ethereum wallet: 0x3e10d9Cb6a5af372C00563aA19FEE3122A5C0Cd4
