What is BlockCat (BKCAT)?
Future of BKCAT Cryptocurrency and know how to buy BKCAT

#1 - What is BlockCAT

BlockCAT is one of the older class of cryptocurrencies which removes the need for programming to create or manage smart contracts. The coin is gaining traction because it works closely on the Ethereum blockchain, which we’ll discuss down below.

BlockCAT: The Basics

  1. Blockchain Complex Automated Transactions, commonly known as BlockCAT is a decentralized blockchain platform that allows end users to develop & deploy smart contracts.
  2. The BlockCAT cryptocurrency is denoted by the symbol CAT. Its total supply is 9.2 million CAT. Its smallest possible unit is called “kit” with 1 CAT being equal to 1 * 10¹⁸ kit.
  3. BlockCAT’s ICO was released in May 2017 & the token sale was conducted between 15 August 2017 to 16 August 2017. Its first smart contract, Tabby Pay, was launched on 14 March 2018 on the Ethereum mainnet.
  4. BlockCAT offers Smart Contracts that can be used without programming for token sale with a visual interface. Users can either choose from BlockCAT’s  pre-built catalog of smart contracts or create their own contracts drag-and-drop interface.

BlockCAT Development

  1. BlockCAT boasts of an expert engineering team which is regularly working on upgrading its blockchain network. It has a hierarchical team structure & is headed by Eric Huang who was recognised by Forbes for his comprehensive & lucid technical ideas.
  2. The CEO gives direction & vision to the company, CTO translates this into a technical direction, frontend engineers prototype and design smart contracts, backend engineer ensures seamless woking of the network & its marketing team helps in mass adoption by identifying the high demand & high worth use cases for smart contracts.
  3. BlockCAT aims at creating an all-access marketplace that provides damage deposits, online shopping, delayed payments, joint purchases, online ballots, recurring payments.
  4. It will soon roll out visual smart contract system that could be combined & chained with each other to set up the entire business models in a drag-and-drop manner. It will also provide tools for its users that can be used to create new smart contracts.

 

#2 - BlockCAT Technology

  1. CAT can be purchased from any online stranger by trusting them with the agreement in receiving & sending the goods. This provides a trustless & decentralised system with various forms of escrows, as the contracts can be upheld without needing to write a single line of code.
  2. BlockCAT users will enjoy Proof of Existence as the ownership of their data/item will be permanently written onto the blockchain. This also protects it against any malicious change or accidental data loss.
  3. BlockCAT uses the InterPlanetary File System (IPFS) protocol, which provides data & stores static files like front-end markup and code for websites with the help of a distributed hash table. This is used for the efficient distribution of high volumes of data. HTML, Javascript, other static or rarely updated data can be stored off of the blockchain in public view, accessible through the hash table saved via IPFS.
  4. The Oracle system verifies & submits the smart contracts written by the third party developers through CAT staking. This ensures correctness of the smart contract.
  5. Users can also schedule airdrops to manually claim their tokens to a specified Ethereum addresses.
  6. Its voting mechanism lets CAT holders to vote down the fund release for further development if they believe that the network targets are not being achieved. Upto 3 votes are repeated after a cooldown period & if they are all failed votes then lock is released within a month of the voting process by the team who has the ultimate discretion.
  7. BlockCAT users will also get to stake their CAT tokens in order to validate smart contracts on the blockchain. These stakers will earn fees for their validation.

Transactional Processes

  1. The BlockCAT team states that it “will build a blockchain based application composed of a device-agnostic, web-based user interface and a set of audited smart contracts to securely create and deploy the smart contracts of” their users’ choosing.
  2. To reduce costs for running smart contracts on the blockchain, the team will be using the concept of forward contracts - which allow for the creation of tiny contracts that store data on separate Ethereum address instead of on the contract itself.
  3. The BlockCAT team also intends to reuse existing contracts (which they will call a ‘master contract’) for similar purposes wherever possible. This will allow them to savings on costs as new, fresh contracts will not need to be deployed on the blockchain for individual, separate purposes.
  4. Further leveraging the interface it will build for its users, BlockCAT also intends to build a notification system into its user interface - allowing them to be kept in the loop about the status or different stages of a smart contract, instead of having to manually check its state.
  5. BlockCAT also intends to leverage the built-in Event Logging system native to the Ethereum Virtual Machine. This system permits smart contracts to store tiny amounts of data in an efficient and cost effective way, accessible via an index. This would allow users to run queries on the blockchain for a fraction of the computation requirements.

Features

  1. Decentralized: The control of all the staked CAT coins lies with the owner as it uses its own Ethereum tokens for purchases. Externally verifiable procedures are used to validate the blockchain data & hence, perform proof of existence.
  2. Secure:  Developers on the BlockCAT platform have to stake some CAT on their product. However, these token remain locked because of the Timelock vault ensures that tokens are not unlocked until a specific date/condition is met. This ensures that the dApp is not malicious, dangerous or unreliable because if it is then developers lose their stake.
  3. Cost-effective: BlockCAT users pay in small pieces that varies with the individual use cases. So, even a novice smart contract developer can gain value as they pay only for what they use on the platform. This maximizes the value received for every spending & that too within lesser time and cost of manual deployment.
  4. Accessibility: BlockCAT seamlessly creates a web interface & connects its users with the appropriate smart contract. These Smart Contracts can be used to create ERC20 tokens that can be used for a local event or as a core feature of dApp.

 

#3 - How to Buy and Store BlockCAT?

How to buy BlockCAT/ How to buy CAT

CAT is the only way to pay the deployment fees for the smart contracts on the BlockCAT platform. BlockCAT is available to trade on exchanges like EtherDelta, Cryptopia, RadarRelay, IDEX, etc. It can also be bought against fiat currency using IndaCoin. But with the CAT cryptocurrency being available over many exchanges, it can get difficult to get the best price for your transactions. This is where CoinSwitch steps in.

  1. While cryptocurrency exchanges provide you with a platform to buy or sell the BlockCAT cryptocurrency, CoinSwitch, the largest cryptocurrency conversion platform, comes in to help you make the right decision by providing the prices for CAT. This way you can choose the best deal for you!
  2. You can also buy, sell and trade over 300 cryptocurrencies for the CAT crypto. It offers interchangeability and unified experience for all cryptocurrencies with a wide offering from all major exchanges.

BlockCAT Storage

BlockCAT can be stored in the BlockCAT wallet. It is an ERC-20 token so, various third party wallets that are compatible with ERC-20 can be used to store CAT coins like:

- MyEther Wallet

- Ledger Wallet

- Trezor

- Ethereum Mist DApp

- MetaMask

 

#4 - What is the future of BlockCAT?

Also Read: Complete Analysis of BlockCat | Live BlockCat (BKCAT) Price Charts And Predictions

  1. As of June 2018, its market capitalisation stands at $28 million USD .

  2. With its accessibility to masses who are without technical knowledge about the deployment of smart contracts, BlockCAT may be set up for a strong run in the markets. CAT prices rose steadily in December & January to achieve an all time high of $ 6.63 in January 2018 as compared to just $0.647765 in November 2017.

Many analysts suggest it will eventually grow to $1.7610 by 2023 & is being predicted to be a stable long-term investment.

Price History

Date

Open*

High

Low

Close**

Volume

Market Cap

Jul 01, 2018

0.258815

0.287664

0.254670

0.285564

682

1,904,910

Jun 01, 2018

0.384308

0.391599

0.348080

0.375062

6,561

2,828,560

May 01, 2018

0.721015

0.749935

0.619882

0.749455

14,729

5,306,760

Mar 01, 2018

1.28

1.52

1.26

1.43

20,376

9,438,340


#5 - How is BlockCAT different from other cryptocurrencies?

BlockCAT has multiple standout features making it unique from most other cryptocurrencies.

  1. BlockCAT incentivises accurate & honest staking which ensures that smart contracts with large staking values are the most secure and trusted on the market.
  2. Smart contracts are easily accessible even to the everyday user for depository holdings for equipments, crowdfunding, monthly payments by customers to merchants, etc. because of BlockCAT’s wide acceptability.
  3. BlockCAT platform users need not know how to write any code, unlike the rest of the blockchains where programmers are especially hired. It provides services without paying for the functionalities that users do not need.
  4. It is also being anticipated as a “sleeping giant” among peers because of the huge potential to be unlocked as the number of services that come into Ethereum network is set to grow. This may even make the coin more valuable to everyone.
  5. The Visual smart contract builder will let users interact with existing smart contracts and will also improve the interface between pre-existing technology that has already been deployed on the blockchain.

 

#6 - Should you invest in BlockCAT/ invest in BlockCAT?

  1. BlockCAT offers a seamless platform to create & implement smart contracts on the Ethereum network. The growing demand for smart contracts provide BlockCAT with a large community base.
  2. Its main value proposition is that it brings together developers and users & lets them see smart contracts without a third party to enactment. This can attract more investors which can push for a bull run in the long term.
  3. The coin is set for a mass adoption because of the increasing use cases of smart contracts which can be created through its user-friendly dApp marketplace.
Related Searches