What are smart contracts?

Every year there is a certain number of new products that overshadow all the others. The information world moves forward, provides opportunities for people to develop in all spheres of activity. For example, one of the trends now can be distinguished Smart contract on the blockchain platform. Of course, a person far from the investment space and the IT-industry in this will immediately be difficult to understand. First of all, you need to understand what Smart Contracts are.

The meaning of smart contracts

The developers have created a unique product called Smart Contracts, which is a special program developed in a programming language. This program is uploaded to the platform for creating decentralized blockchain-based online services - ETHEREUM. This currency is readily used for ICO settlements.

Today ETHEREUM is one of the most popular cryptocurrencies in the world. In this regard, experts have created Smart contracts for developers to conduct operations in the public domain, gaining trust from investors and other participants. Smart contracts also appeared in the field of HYIP, forming their own pyramid.

Pyramids on Smart Contracts

Recently, private HYIPs on Smart contracts have caused a real stir, because platform administrators are not allowed to withdraw funds when they want. The project is in working condition until the admin is bored, so events are moving in a chaotic and unpredictable direction. In other words, the fund functions as long as there are funds on hand.

Platform advantages

• The admin does not own contracts, since special codes are written in the function. This means that the administration can not dispose of the owners' money (withdrawing funds from the wallet).

• Platform participants can trace all cash flows at any time, it is also possible to see the account of the wallet, the dynamics of funds.

• HYIP functions until complete devastation.

• Admins and creators of the pyramid are interested in development, so the work is done at a fixed percentage. These funds also go to the advertising company. The more participants in the system, the more admins earn.

Platform cons

• The code can be analyzed, as it is in the public domain. However, not everyone is able to decipher the functions. The verdict can make only a highly qualified developer. According to some experts, the code cannot be changed, but this does not mean that the admins have left no loopholes in case of force majeure.

• Each time you withdraw funds from the wallet will be charged a fee. In this regard, the network member receives much less earned.

Features HYIP

The project on smart contracts with HYIP has few common features. The fact is that the system has been significantly improved compared to previous developments. For example, the new product is almost devoid of flaws, but endowed with a large number of advantages.

What are the features of innovative HYIP:

• Projects do not have personal accounts and all actions are performed on a smart contract. Experts believe that there is no need for a private office, because all operations are conducted through the investor’s wallet. Although the system has the opportunity to see the statistics of the investor through his wallet.

• The platform accepts only cryptocurrency ETHEREUM. This factor deters fans of digital currency Fiat. This system cannot accept other cryptocurrencies, including ordinary ones (dollar, euro, British pound, etc.). This is a disadvantage of HYIP, because not every investor has this crypt.

• The fund is distributed, that is, funds (about 90%) are paid to the participants of the system. Of the total amount of money, interest is also paid to admins for advertising (PR). Projects with 100% payouts are questionable, as this suggests that the pyramid is not developing and may close at any time. The fact is that the project must constantly evolve and attract more participants. The incentive for this is a fixed percentage.

• No one can steal or withdraw money in the project, since there can be no such scenario in an honest hype. Actions are taken to zero on the account.

• The creators have developed a transparent project that is available to each participant.

How to make sure the hip is honest?

In order to ensure the reliability of the HYIP, just look at its code. If the system is fair, then the HYIP code on the Smart contract will be open and accessible. Each participant can check it. This is how projects are audited. However, you need to have additional knowledge and skills to understand the intricacies of developers.

Work with the project on a smart contract:

1. Investing in ETHEREUM cryptocurrency from any online wallet.

2. Set the percentage for sending coins.

3. Definition of withdrawal of profits (automatically or manually).

4. Withdrawal is allowed only to the wallet from which the investment was made.

5. Participation in the affiliate program.

6. Analysis of investment flow with Etherscan.

There is no doubt that Smart contracts are a huge step forward in this industry. Each time the project becomes more and more popular, the demand for services is growing.