The appearance of the blockchain technology has marked a new stage of Internet technologies development. The blockchain has allowed to democratize the world of cryptocurrency and has opened infinite financial opportunities. The decentralized trade differs in absence of intermediaries and collecting as transactions are carried out between the buyer and the seller directly; lack of geographical restrictions; impossibility of the government intervention and regulation. The only thing that similar trade depends on, is the laptop and the Internet.
However, the development of the blockchain technology hasn’t stopped on emergence of the first cryptocurrency. Literally, in several years there was a new decentralized Ethereum platform based on a blockchain technology with its own cryptocurrency. Anyone, using the computer, can create the new decentralized applications and the blockchain services by means of this platform. Thus, Ethereum is not just a cryptocurrency, it gives much more various opportunities, such as, realization of crowdfunding, investment projects and creation of financial contracts based on it.
Considering all advantages of the blockchain technology and the Ethereum platform, moreover, the growing popularity of cryptocurrency investments and existence of the risks accompanying them, the Phoenix project have developed an innovative financial algorithm which gives some exclusive trade opportunities and minimizes risks. All this becomes possible because Phoenix works at the computing Ethereum platform based on the blockchain and use of an unchangeable fragment of the Ethereum smart contract code which works itself and allows to reduce any potential risks and to activate a unique financial algorithm. This algorithm, in turn, ensures safety and prevents any fraud or manipulation of a code. At the expense of the developed Phoenix of a mathematical algorithm, the system users will be able to increase many times for short term the initial investments with the minimum financial risks.
Phoenix represents the decentralized autonomous organization (DAO) which is founded on blockchain technology that allows ensuring transparency and safety of all processes within it. Thus, the main features inherent in the Phoenix system are given below:
All this is realized in Phoenix by means of the opportunities given by the Ethereum smart contract and blockchain technology. So, the smart contract in Phoenix provides implementation of automatic payments for all participants and guarantees a strict compliance to uniform rules at implementation of contributions and charges in the Phoenix system. All operations in Phoenix are controlled by the smart contract which isn’t subject to change. The Phoenix smart contract works independently and with guarantee carries out all rules stated in it.
The technology of Ethereum smart contract allows all participants of Phoenix to control history of all payments in the system as the smart contract is open, anyone can get acquainted with its conditions and trace the transactions history. All financial transactions are processed by the Ethereum virtual machine which saves information of all transactions in the Phoenix system.
As already it has become clear, the smart contract is the basis of the Phoenix system. It should be noted that it ensures a full safety of all processes in the system. Also, nobody, including Phoenix, has no access to personal financial information of participants. Thus, due to the smart contract, Phoenix is provided the maximum privacy.
The Phoenix work mechanism and difference from competitors
Phoenix works at principles of the Ethereum smart contract which is in open access, and with its help identical rules for all participants of the system are provided. An important feature of Phoenix is that the platform works on the system of rounds. It is one of the main differences of Phoenix from competitors as investments in the system aren’t long-term (in comparison with other projects), and after the end of the first round on which the participant carries out the investment of capital, it becomes a part of the system. At the end of each subsequent round investors begin to receive ETH on the Ethereum wallet. Thus, Phoenix participants shouldn’t expect profit for a long time: charges are carried out steadily according to the smart contract at the end of each round. Apparently on the picture, for only 3 successfully complete rounds the participant will be able to increase the initial investments by 4 times.
The smart contract is valid until rounds come to an end successfully. The round in which the target sum is reached is called successfully complete. For the first round, the target sum was 100 ETH. For each subsequent round it is calculated by a formula: addition of the doubled target sum of the previous round and the sum paid under the contract for the entire period. So, for example, at the moment at Phoenix there is the 3rd investment round (the project has reached it in 2 weeks since launch), which target sum is collecting 600 ETH (from which more than 220 ETH or more than 37% are brought together already). Concerning the duration of rounds, they proceed or before achievement of the target sum, or not longer than 365 days. In the case in 365 days the round hasn’t reached the target sum, then those participants who have made the investments in not closed round receive a return of the means. The smart contract provides an automatic return of the funds raised in the current round if it isn’t finished (within a year i.e. 365 days).
It is possible to join Phoenix on the official website of the project where the Whitepaper and the address of the Ethereum smart contract are presented. Has now passed 3 weeks after start, and the project shows good results: more than $500 thousand are collected, and first accruals are already sent to the ETH wallets of the first participants that is also reflected in the smart contract.
This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of The Merkle. This is not investment, trading, or gambling advice. Always conduct your own independent research.