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Smart Contracts, the Source of Assurance in HYEDram

HYECoin, Inc. is part of an emerging new generation of digital product developers to harness the versatility and security of smart contract technology in the establishment of a decentralized financial ecosystem managed by the participants of a global community who may never have a chance to meet the other members. As such, all HYECoin community members who hold even a single coin of a common cryptocurrency like HYEDram may be strangers, nonetheless, and require levels of confidence in a decentralized process for executing transactions along the HYEDram public blockchain with other strangers.

According to Daniel Larimer, “a smart contract is effectively computer code that deterministically executes an algorithm based upon the signed statements of individuals. Computer algorithms must be consistent and are unable to assign two owners to the same property at the same time.”

Smart contracts provide the HYECoin community of probable strangers with assurance that all transactions in HYEDram and related products are conducted legally and transparently, with efficiency and accountability. Again, as stated by Larimer, “smart contracts make the economy more efficient by making it easy to bundle and forward rights and obligations in a trustless manner.”

As stated elsewhere in Larimer’s writing, dPOS provides HYECoin, Inc. “with a reliable means to maintain a decentralized, trust-free equilibrium between the desire for power and liquidity” among all HYECoin community members without interference from any and all centralized outside entities, including HYECoin, Inc., itself.