The Auto Block offers a unique set of products which will align cryptocurrency with the mainstream automotive industry by making vehicle transactions secure, fast while also giving you full access to the purchased vehicle’s historical data, NVD (New vehicle data), and valuations. Providing transparency to the buyer, as well as the seller.
The AutoCoin has developed a truly unique model that aims to reach adoption by benefitting the automotive industry as a whole. By decentralizing the ‘middle-layer’ of retailers and reducing the fees incurred by sellers, as well as consumers, we aim to bring the blockchain to market in a seamless and beneficial transition.
1. Buying Cars With Crypto.
2. Access to and Accuracy of Vehicle Data.
Benefits for buyers
– Ability to purchase vehicles worldwide.
– No requirement to cash out to local currency via an exchange, incurring high charges.
– Significantly lower transaction fees – fast and easy payment without add-on bank charges.
– Immediate settlement – no waiting period for transactions to mature (i.e., instant availability).
– Security against identity theft – no credit card or bank details being stored by third parties.
– The highest level of fraud prevention – thanks to the platform’s utilisation of blockchain technology, Autocoin has reduced the risks of counterfeits and chargebacks to zero.
– Easy international payments unencumbered by protracted exchange rate considerations.
Benefits for sellers
– Free exposure of vehicles offered for sale worldwide via autocoincars.com.
– Fast and easy transaction.
– No cost entry to accept The Autocoin as a payment solution.
– Lower transaction fees.
– Easy worldwide payment acceptance.
– Ability to retain The Autocoin in digital wallet for investment or other purchases or option to convert to local currency upon transaction completion.
– Team of expert support and advice staff available.
The Auto Block will operate on two seperate Blockchains to have full optimization and throughput. The Auto Block will be running on the HyperLedger Fabric as a private Blockchain to store data and our proprietary fork of th Waves Blockchain to conduct transactions. The token sale will be conducted on the Ethereum Blockchain and all ATC tokens will be ERC-20. Once The Auto Block mainnet is live, all tokens will be swapped for our native ATC token on a 1:1 ratio.
There are three key points that apply to smart contracts, especially when applied to a platform:
– Many smart contracts run concurrently in the network, contracts may be deployed dynamically (in many cases by anyone), and application code should be treated as untrusted, potentially even malicious.
– Most existing smart-contract capable blockchain platforms follow an order-execute architecture in which the consensus protocol:
Validates and orders transactions then propagates them to all peer nodes, each peer then executes the transactions sequentially.
– The order-execute architecture can be found in virtually all existing blockchain systems, ranging from public or permissionless platforms such as Ethereum (with PoW-based consensus) to permissioned platforms such as Tendermint, Chain, and Quorum.
Waves Platform is an open blockchain platform which is designed for ease of use and mass adoption. It is a comprehensive blockchain ecosystem that provides all necessary features for business adoption: Fully functional exchange that is as fast as a issues. Smart contracts include account and token controls, which provide functionality to implement features such as multi-signature wallets, atomic swaps, 2-factor authorization. Waves also introduces a new transaction type which is called “Data Transactions”. Data Transactions is a way to post Oracle data to the blockchain all within the smart contract code.
Token Sale details
There will be a total of 400 Million Autocoins, of which 220 Million (55%) will be available at all stages of the token sale.
The base price is 1 ATC = $0.25.
Soft Cap: 5,000 Eth
Hard Cap: 40,000 Eth
Allocation of Funds
Trade connect – 11%
Development – 23%
Operations – 10%
Marketing – 8%
Licensing and Legal – 7%
Audit – 5%
Endowment Fund – 30%
Bounty and Rewards – 6%