Etherparty is a P2P and Enterprise Platform that aims to reduce the complexities involved in the management, creation and execution of the smart contracts. Etherparty doesn't involve using complex blockchain applications like Geth, Meteor, or Mist to run a node for creating smart contracts as it involves GUI for the creation of a smart contract.
Ethereum is one of the greatest innovation that introduced smart contract in the blockchain technology, but due to its complex application, it was deterrent to its widespread adoption. Ethereum uses a language called solidity to create these contracts and the developers need to learn before developing an application on the Ethereum platform and also need to run a node for creating a smart contract that is a very time-consuming process
Etherparty intends to combine the blockchain technology with more traditional technologies like web applications, public APIs etc. Through its cloud-based platform for Ethereum smart contracts, it will allow for the creation and crowdfund of ERC20 or ERC223 standard tokens, as well as allowing sports betting between two users.
Etherparty will use two hosted Ethereum nodes, one is actual main Ethereum network and other is for the testnet. Users will able to test their contracts before deploying it in the main network. In its production environment, it will deploy multiple, load-balanced Ethereum nodes to handle the expected network traffic and also provide high availability of Etherparty users. Ever-increasing library of smart contracts will provide users with multiple options and also allow non-technical users to create blockchain transactions in the form of smart contracts that can reflect any type of legal and business contexts.
FUEL (ERC-20) is the token for Etherparty and is the key to use the platform. It will be used to pay for the smart contract templates and also be used in maintaining the entire network and its security. The token serves as a medium to validate transactions and also used by other users to buy, execute or exchange for other smart contracts in the platform. It has a total supply of 1 billion FUEL tokens.
Financial Services: Often managing payment processes with other parties lead to discrepancies, error, and confusion. A smart contract binds both parties to go as per discussed and also binds them by rule eliminating the possibility of disagreement.
Manufacturing: Tracking goods and information can be hassle and lot more complex given the conditions in a value chain and reliance on the paper-based tracking system. Etherparty's Enterprise API allows integrating any information system into one platform which is streamlined and writing a smart contract will bring all stakeholders into the blockchain, which makes it faster, secure, and more transparent for all parties involved.
Cross-Industry: Internet has turned every commercial interaction into a digital agreement and with the help of smart contract and blockchain technology, it will help in maintaining the exact the contract terms while maintaining the records of each transaction.
Legal: In the traditional structure of the paper and digital based system, there are high probabilities of data theft, manipulation and misrepresentation. With business information and corporate filings stored in a shared ledger, information are immutable and indisputable, and also access to documents are also recorded.