Looking for new ico? eGaaS the right place to save your money
http://egaas.org/ico/index.html
EGaaS is a blockchain platform for organizing economic, public and social activities. These events are powered by smart laws and smart contracts.
The eGaaS blockchain
the eGaaS blockchain platform is a peer-to-peer (P2P) network, where each node contains a complete database of the system. To synchronize database changes and to protect it against unauthorized changes the blockchain technology is used. Current database changes sent to the network by users – values entered, new objects, their attributes and relationships added – accumulate on the node that currently has the right to create a block. The node checks both the entries (transactions) and their compatibility with each other, signs a formed block with a private key and sends it to the network. Other nodes check the right of the signing node to create block, the validity and compatibility of the transactions in the block and the correctness of the signing. If the nodes do not find any error, they execute the transactions prescribed in the block, that is, modify the databases synchronously.
Technology
eGaaS performs four basic functions required for efficient transfer of most types of government and business activities into blockchain technology: financial system, registry structure, smart contract algorithm and smart law formation and execution mechanism. The financial system secures transactions in the currency of a particular country. Smart contracts automatically implement the algorithm of deals involving registry objects and with possible fiat-currency transactions. Smart laws regulate the creation and implementation of smart contracts and automatically regulate relations between individuals and organizations in all areas of government activity.
eGaaS network protection
The eGaaS database is protected against unauthorized modification by the following means:
1. Restricting the number of nodes that can create and sign blocks;
2. Checking the correctness of formation of all blocks by the network nodes;
3. Storing the complete database version on each network node;
4. Blocking the possibility of modifying the blockchain blocks without consent from all
nodes.
Protection against entering of invalidated information into the database is secured through:
1. Strict delineation and verification of the rights of different categories of users on data
entry;
2. Checking of transaction conditions stated in smart contracts (practically all
transactions are implemented when the relevant smart contracts or smart laws have
been executed);
3. Checking of smart contracts for compliance with the active smart laws of the State.
eGaaS, combining a financial system, registry structure, smart contract algorithm and smart
law formation and execution mechanism in a single blockchain platform, should be seen as a
fundamentally new tool for efficient transfer of most activities of the State and business to
blockchain technology.
If the Ethereum project can be considered as a kind of a distributed computer used by
programmers, then eGaaS should be seen as an operating system that can be used by the
State, business and citizens to build a transparent and trust-based relationship between
them. Ico has started on November 15, 2016.
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