What is Etherparty (FUEL)?
Future of FUEL Cryptocurrency and know how to buy FUEL

#1 – What is Etherparty?

Etherparty: The Basics

  1. Etherparty is a platform that allows its users to create and execute smart contracts without the complexities associated with Ethereum, like having to learn its specific programming language, Solidify.
  2. Its goal is to enable users to create secure, flexible and legally binding smart contracts using Etherparty alone.
  3. It does not require users to install third-party software like Geth, Meteor or Mist for the execution of the smart contracts as it enables the execution on the Etherparty platform itself.

Etherparty Development

  1. Etherparty is a project of Vanbex, a blockchain consultancy company which has been around for more than 5 years, making it as experienced as a blockchain-based firm can get.
  2. The Etherparty website lists 24 members in their team, headed by Lisa Cheng, Founder and Kevin Hobbs, CEO.
  3. Lisa Cheng is the Founder and head of R&D, who has a background in business development and strategy. She founded the Vanbex Group, having worked previously at SAP and ADP. She was also involved in Mastercoin.
  4. Kevin Hobbs, the CEO of the Vanbex group and the Etherparty project, also founded the Genisys Project, and has worked in Ensign Energy Services, FIRMA Foreign Exchange and DealSoftware.
  5. Other members include VP Product Erin Tomlinson, Creative Director Brandon Kostinuk and others including Product Designers, Developers and Managers.


#2 – What are the advantages of Etherparty?

Etherparty Technology

  1. The Etherparty platform comes with smart contract templates as well as AI modules that help tract and monitor all the smart contracts issued through the platform. Its inbuilt EVM can additionally be used to process escrows and instructions of the smart contracts on the platform.
  2. The platform also allows companies to upload and integrate their own documents on the platform to convert them into smart contracts without changing their current infrastructure.
  3. Etherparty’s subscription model is a tiered one, starting off with limited access to features and one or two contracts per month. The second tier has a higher contract limit, while the third has even higher limits as well as additional functions ad integrations.
  4. The currency used for any transaction on the platform as well as execution of contracts is Etherparty’s native ERC20 token, FUEL.
  5. Since the price of FUEL may fluctuate, the contracts are pegged to a fixed amount in USD, thus only needing to vary the number of FUEL tokens rather than the actual amount paid.
  6. The current application works through filling out web forms, but the team plans to introduce an API with a drag-drop interface and allow users to create smart contracts through natural language processing. The smart contracts on the Etherparty backend are still constructed using Solidity, Ethereum’s programming language.
  7. There’s an internal diligence process as well that users must go through before they deploy smart contracts on the platform. This is to prevent misuse.
  8. The user authentication for Etherparty is provided by Keycloak, a well-known open source identity and access management platform which uses two-factor authentication for additional security.
  9. Etherparty will also support account lockdowns for those that exhibit suspicious activity outside of permitted parameters. Additional security features will include time logs for user sessions that will be displayed to users at all times.

Use Cases

The applications of smart contracts are widespread, and Etherparty’s smart contracts are aimed at various industries like banking, healthcare, supply chain management, insurance, foreign exchange trading, digital identities and much more. The use cases include:

  1. Financial services, for milestone-based payments and escrow services.
  2. Manufacturing, for supply chain management and trade finance.
  3. In the field of low, it has several applications, like in forming a business, corporate filing, dividends, chain of custody and more.
  4. It can be used for cross-industry applications like peer-to-peer transactions, contractor agreements, contracts with executable conditions (eg. smart wills) and for record-keeping.
  5. It can also be used for ICO creation, in crowdfunding, token creation and watching the progress of an ICO or token.


#3 – How to buy and store Etherparty coins (FUEL)?

How to buy FUEL

FUEL, Etherparty’s native ERC20 token is available for exchange on 7 platforms (as of July 2018), including Binance, Gate.io, HitBTC, ACX, ForkDelta, Idex and Radar Relay. These exchanges mostly accept Bitcoin or Ether, but some also take WETH, Tether and others in exchange for FUEL tokens.

Only one cryptocurrency exchange accepts fiat currency (US Dollars) in exchange of the FUEL tokens, which is HitBTC.

  1. These exchanges are only platforms on which the FUEL coins can be traded, but help is often needed to decide which platform to choose. This is where CoinSwitch comes in. One of the best cryptocurrency exchanges out there, it supports more than 140 coins and 45,000 pairs of cryptocurrencies. You can choose any pair you want with your FUEL token, and CoinSwitch will help you decide by displaying the prices all at the same place.
  2. What’s more - with CoinSwitch, you do not need to create wallets on the exchange you’re buying from. Instead, all transactions can happen to and from your very own private wallets.

FUEL Storage

  1. Being on the Ethereum blockchain, FUEL can be stored in any wallet which supports Ethereum and other ERC20 tokens, which are quite a few in number.
  2. Hardware wallets are the most secure, and Ledger Nano S as well as Trezor work for ERC20 tokens.
  3. Exodus and Mist are desktop wallets for which store Ethereum and tokens on its blockchain. It is compatible with Windows, Linux and Mac operating systems.
  4. Jaxx, another Ethereum wallet, functions as a desktop wallet for Windows, Linux and Mac PCs, a mobile wallet for Android and iOS phones, as well as a web wallet through Chrome and Firefox extensions, making it one of the most versatile wallets around.
  5. MyEtherWallet is its most popular Web wallet, and ETHAdress is one of the paper wallets storing ERC20 tokens.


#4 – What is the future of Etherparty?

Also Read: Complete Analysis of Etherparty | Live Etherparty (FUEL) Price Charts And Predictions

Market Cap and Global Acceptance

  1. Etherparty held an ICO for its native ERC20 token FUEL from October to November 2017.
  2. The total supply of the FUEL tokens is 1 billion, distributed as follows:
    1. 40% was sold in the ICO presale
    2. 40% was sold during the public ICO
    3. 10% was reserved for the Etherparty Team, and
    4. The remaining 10% tokens were kept aside for incentives.
  3. The total circulating supply of the FUEL tokens is 486.04 million as of July 2018, with a market cap of about $ 15.81 million USD and a value of about 0.0326 USD per FUEL.

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Trends so far

  1. Since the FUEL token is relatively new (not even a year old as of July 2018), its trends are difficult to predict. From its initial value of $ 0.043 per FUEL token at the end of October 2017, it almost halved to its minimum of $ 0.022 in November 2017. Its peak value was $ 0.402 in January 2018, which has since dropped, to $ 0.0326 at the time of writing this article.
  2. Despite its high circulating supply, the low individual price of the FUEL tokens has given it a rank below the first 300 in terms of market cap. It is ranked 322nd among cryptocurrencies globally, at the time of writing this article.
  3. For such a new cryptocurrency, its current global rank isn’t too bad. In fact, among the 1600 odd cryptocurrencies, FUEL has risen quite high in a matter of months. This, along with Etherparty’s goals as a platform and the steps the team has already taken to realise these goals speaks a lot for the token’s future.

  4. Going forward, Etherparty is aiming to be platform agnostic - with sights on smart contract creation even with Bitcoin. This is planned to be executed in conjunction with Rootstock, and integrating other blockchains into the platform.

  5. It also intends to launch drag-and-drop capabilities for smart contract creation, along with a mobile app that’ll even integrate with Google Assistant on Android. On the enterprise front, expect an advanced user interface with user created templates.


#5 – What makes Etherparty different from other cryptocurrencies?

  1. The primary selling point of Etherparty is the fact that users don’t need any prior programming language to use the platform and create smart contracts on its blockchain, using readily available templates.
  2. The platform also promises fast transactions and high speed in execution of the smart contracts created on the platform, and provides flexibility to users as it allows contract entrants to grant access to a third-party mediator in case of any dispute.
  3. Another thing that sets Etherparty apart from other smart contract cryptocurrencies is the fact that users need not install third-party software for the execution of the smart contracts they create on the platform.


#6 – Should you invest in FUEL?

  1. The FUEL tokens have been doing a below average job in the crypto market when it comes to valuation and market cap. Despite so many coins circulating in the market, it is ranked pretty low in market cap rankings.
  2. However, it must be taken into consideration that Etherparty is still relatively new in the crypto world; not even a year old, so its ranking is really not all that low. At the same time, some may point to its lack of experience as an issue.
  3. Smart contracts are the future of businesses and represent an emerging trend which isn’t likely to die out any time soon. In fact, as time passes, more and more businesses and other parties are using smart contracts, making Etherparty not only promising, but extremely important. After all, not everyone can be expected to learn a complicated programming language just so that they can make and execute a contract!
  4. The fact that FUEL’s individual price is low can be considered an opportunity rather than a deterrent, because one can buy a significant number of tokens without spending too much money and this psychological impact tends to be seen across the market. Because of its potential and goals of bringing smart contracts to the general public, FUEL could be an attractive long-term investment option.
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