This time I will provide information about a very interesting project for you to see, in a new cryptocurrency called XPetroleum . Before heading into the discussion I think we all agree that blockchain technology still requires efforts that encourage adoption to continue to grow and continue to grow in the future.
Since the discovery of internal combustion engines, oil and its derivatives such as oil and gasoline have become some of the most valuable commodities on our planet. Without these resources, the existence of modern transportation as a means of transportation would not have been possible. In addition, oil is also used for a number of other processes, such as electricity generation, heat supply and more. At present, to meet all human needs every year produces around 34 billion barrels of oil with a total of 1.7 trillion dollars.
It is important to note that oil is a non-renewable resource that needs to be protected. For this purpose, a project called XPetroleum was created, which will improve oil production and supply processes through the introduction of Blockchain technology.
Project objectives
The main goal of developers is to create a new generation oil platform based on the smart contract Ethereum, which provides the following opportunities for the oil industry:
confirm the authenticity of the product;
track place of origin;
transparency of operations;
low cost;
high security;
low transaction processing time;
elimination of intermediaries between suppliers and consumers.
Principle of operation
The XPetroleum platform work will be provided by the Blockchain technology, which allows the storage and exchange of data between participants on the same basis. Due to the fact that this technology uses decentralization, the Xpetroleum platform will completely eliminate the need for third party services.
All actions on the platform will be carried out based on a smart contract, which is concluded between two or more parties. This agreement can include many functions carried out in response to certain actions of the parties to the agreement. Such solutions will ensure safe operations and increase their transparency.
If necessary, each participant will be able to track the oil production site, the time of delivery, and a number of other parameters included in the process of trading this valuable resource.
The platform's main currency is XPL tokens, which can be stored in a wallet that supports the ERC20 cryptocurrency standard. It is possible to buy these coins only during public sales.
ICO date and details
Project developrs intend to release 80 million XPL coins, of which only 62 percent will be sold in public sales. The token 1 fee will be $ 0.15. However, the date of the public sale will be announced by the creator of the platform in April this year after the release of Whitepaper 2.0.
Softcap Project - 500 thousand dollars
hardcap - 5 million dollars.
Distribution of tokens and funds are as follows:
TEAM
Conclusion
Given the scale of the oil industry and the lack of safe and reliable tools for conducting operations in this field, the XPetroleum project can become very popular. This will reduce the costs of many refineries by eliminating intermediaries, as well as ensuring the security of financial transactions between the parties in the agreement.
Therefore, investing in XPL tokens can be one of the best solutions for investors.
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Below is important information about XPetroleum:
More info:
Website: https://www.xpetroleum.com/
Twitter: https://twitter.com/XPetroleum_xpl
Medium: https://medium.com/@xpetroleum
Telegram: https://t.me/XPetroleumAnnouncement
Author : aa aep
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