But was there any particular reason why the Cryptogene team decided to make the cgt token based on waves platform? Not that o don't like it or have anything with it am just curious. Because over time I seem to have noticed that a number of tokens are also based on the waves platform
Yes we decided to actually run token sale on Waves platform, and run smart contract on Ethereum for obvious reasons. Waves is designed from the ground up for business use and mass consumer adoption. It’s a fast, scalable platform that prioritises the user and provides powerful tools for developers.Creating, distributing and dealing with tokens is incredibly straightforward. It takes less than a minute to launch your blockchain token, and there are tools that allow you to send them to investors with an absolute minimum of fuss. And of course it has a user-friendly interface.
Having conducted a lot of research, Cryptogene came to the conclusion to build its own blockchain using an already existing blockchain like Ethereum as a guide. However, Cryptogene would be utilizing a dual blockchain technology otherwise known as BLOCKSWAP for its crowdsale. The blockchains Waves and Ethereum would pave way to access the advantages of both blockchains, while we develop our blockchain (Tailored specifically to the needs of the African continent) on the long run. This blockchain would be launched with SILK.
I have read the white paper of these project a number of times now due to my level of activity in its community and I have been seeing this part " we decided to actually run token sale on Waves platform, and run smart contract on Ethereum for obvious reasons. " So quick question..... I want to ask what exactly means when we say rum smart contract on Etherium?
Smart contracts help you exchange money, property, shares, or anything of value in a transparent, conflict-free way while avoiding the services of a middleman.
Bitcoin lacks this quality, it was however added on the etheruem platform.
Take for example you want to buy a house, you can probably do that without even knowing the seller, all you need to do is to pay with crypto, the receipt or anything that determines ownership of what you are purchasing will be released to you, everything is programmed with some kind of codes.
Now after the ICO, CGT smart contracts will gradually move over to the etheruem platform, our app, wallet etc, will run on etheruem platform, which will enable you use CGT for smart comtract transactions.