Smart Contracts are directives that are applied in a autonomous and auto-operative way, distributed in all nodes, impossible to alter and therefore, immutable. It means that it will always have the same behavior without requiring the action of a third party, in a predictable environment, transparent and incorruptible and that will be executed automatically when the specific conditions defined in itself are met.
DAPPs are decentralized applications, where trust is based on the community, are not controlled by any authority and do not require any other intermediary entity andy they are expressed in the chain of blocks.
BlockChain-based Dapps + Smart Contracts could offer a number of benefits for a wide range of potential applications, :
Speed and real-time updates. Because smart contracts use software code to automate tasks that are typically accomplished through manual means, they can increase the speed of a wide variety of business processes.
Accuracy. Automated transactions are not only faster, but less prone to manual error.
Lower execution risk. The decentralized process of execution virtually eliminates the risk of manipulation, nonperformance or errors, since execution is managed automatically by the network rather than an individual party.
Fewer intermediaries. Smart contracts can reduce or eliminate reliance on third-party in-termediaries that provide “trust” services such as escrow between counterparties.
Lower cost. New processes enabled by smart contracts require less human intervention and fewer intermediaries and will therefore reduce costs.
New business or operational models. Because smart contracts provide a low-cost way of ensuring that the transactions are reliably performed as agreed upon, they will enable new kinds of businesses, from peer-to-peer renewable energy trading to automated access to vehicles and storage units.
ORISOM underlying value proposition is that non-programmers users can have faciities for specify, con-figure, analyze, simulate and ultimately execute “Smart Contracts” in easily, fast, flexible and friendly way, and in this order offers:
Deployment of VPCs –Virtual Private Cloud- for managing NODES –MyOWN Node Concept-
Management of securitized and incorruptible transactions through an environment be able to creating, configuring and launching Smart Contracts.
Creation and evolution of a Dapps Store, designed and oriented to allow the in-teraction in a auto-self-management environment into friendly user experience