What is Ping Chain?
Ping Chain is a decentralized project that aims to make smart contracts easier to execute and implement. Thus, making it easier for smart contracts to start and alerting users throughout its duration. They plan on doing this through the use of their native currency Ping Token.
With Ping Token, users can start to schedule execution dates for their smart contracts. Only 1 Ping Token is deducted once the user’s time-based trigger becomes executed. Other actions will call for more Ping Tokens to be used.
Still, it offers a lot of utility for those wanting a way to keep their smart contracts in check. Try it if you’re aiming to complete your project, protect a certain transactions, or for any other reason that requires automatic smart contract input.
- Event Monitoring: Ping Chain allows users to watch the blockchain for certain instances and utilize off-chain systems such as workbooks and emails.
- On/Off-Chain Support: You can manage the contract triggers through Ethereum’s blockchain and other platforms in the future.
- Scheduled Contracts: You can trigger the contract based on blockchain events, when a block becomes mined, or on time.
What Issue Does it Solve?
There is a problem with smart contracts within the crypto sphere. For instance, smart contracts require a single person to manually set them on in order for the code to work. This results in not only human error, but can take time before the smart contract is even utilized.
With Ping Chain, blockchain developers can automatically set up their contract based on their timeframe parameters. You can set it up to work hourly, daily, weekly, or even further. Thus, users are able to take advantage of their time based on their preferences.
In addition, you can use smart contract execution based on the current block number, contract events, or other contracts. When using it, you can receive on-chain smart contract utilization while also giving an off chain alert (email, SMS, mobile push notification, or a callback).
Token Sale Information
Disclaimer: Our information is only there to educate our readers about upcoming ICOs. Invest in ICOs at your own risk.
- Smart Contract Utilization: Ping Chain aims to help users control their smart contracts and execute them based on their preferences and the demand for their project.
- Developer Incentive: Ping Chain gives developers the ability to gain more Ping Coins when new investors buy from their ambassador link.
- Token Utilization: The Whitepaper tells us what the token is used for, but we don’t have that much information as to when the token sale begins.
- Short Whitepaper: The whitepaper is only a few pages long and is poorly designed. While you can understand their purpose, the design might turn off potential investors.
We believe that PingChain will become useful once the product becomes fully developed. Until then, we’ll have to manually execute our smart contracts so that it follows our projects. Thus, it will interesting to see what Ping Chain does for the market in the future.