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Before I start to explain the things, please fix your mind that this article is going to be completely Cryptocurrency MLM Platform Development oriented. So, to grab the juice of the concept, it is very important for you to understand the basic terms, such as: What is cryptocurrency MLM ? What is Cryptocurrency MLM Platform ? What is Cryptocurrency MLM Software ? What is Cryptocurrency MLM Software Development ? What is Cryptocurrency MLM Platform Development. After that we can see The Difference Between Cryptocurrency MLM and Traditional MLN, Problems Faced By the Earlier Cryptocurrency MLM Schemes, and How Smart Contracts Can Build Legit Cryptocurrency MLM Platforms. Then, Finally We can See How To Start a Cryptocurrency MLM Platform In 2020 With Ethereum Smart Contract.
So, I hope you got the index of this article, and I am sure, at the end of the session, you will get the satisfactory knowledge and answers for all the above questions based on cryptocurrency MLM Platform and Software Development.
It is a kind of network marketing, where a network of people will join in a pyramid scheme one by one, through their referrers in order to buy and sell a company’s product or service with a provided commission to enlarge the network. Generic Traditional MLM Can be done offline.
The World’s first MLM was initiated by a Medical Company, JR Watkins in the United States. Also we can say a lot of successful MLM businesses in India, and all over the world. I don't want you to get distracted by discussing too deeply about traditional MLM. So let’s jump into the core concept “Cryptocurrency MLM”.
These are the possible and popular MLM types as of now.
It is a binary matrix scheme, where the network of people will consist of bitcoin or cryptocurrency investors, and they will join the scheme with the goal of getting profit by referring more number of people to join the network. Here no real life products or services are sold. In some exceptional cases, cryptocurrency investors are called to join the scheme, to invest on a newly created crypto token, and they will get paid with commission for holding more number of references and tokens. Since cryptocurrencies are known as E-currencies, or digital currencies or virtual currencies. there is no possibility for Cryptocurrency MLM to be done offline. Generally the network will be very huge and count may vary, from thousand to million or billion, because there is always a high demand for cryptocurrencies.
A Cryptocurrency MLM platform is a website, where all the crypto MLM activities can be done. This is the front end or the gateway for cryptocurrency investors to signup, join, participate, execute binary matrix transactions, receive commissions, monitor the ongoing cycle and to get any official announcement from the admin of the MLM Platform.
A cryptocurrency MLM Software is an application that can handle or automate the mlm transactions on a Crytpto MLM Platform. It has been coded to execute particular functionalities by comparing on the cases written in the code and executed inside the MLM Scheme.
The need for cryptocurrency MLM software is, in general cryptocurrency MLM networks are very large to handle So to reduce the risk and complexities a Crypto MLM Software is essential to manage the entire MLM scheme.
It is a development process where a cryptocurrency MLM Website or platform will be developed with the given requirements from the client. The platform will be integrated with the cryptocurrency MLM Software, MLM API’s and It can be enriched with better UI/UX.
It is a custom Cryptocurrency MLM Software development process whereas the software can be integrated with a cryptocurrency MLM platform. The software can be customized or re-engineered even after the deployment. The commission charge, Joining fee, handling the binary matrices and everything related to the crypto MLM will be under the governance of the cryptocurrency MLM software.
Talk to our experts to Create a Cryptocurrency MLM With Ethereum Smart contract with Custom Features
You may wonder, then why cryptocurrency MLM are declared as pyramid schemes, even though when it has this much of advantages Let me say the reasons here.
Because of such negative impact, a lot of legitimate cryptocurrency MLM business startups, and their participants weren't able to access the success.
To avoid all the scams in cryptocurrency MLM it should be decentralized and the entire system should be tamper proof under an immutable protocol. If a Cryptocurrency MLM wants to be decentralized and immutable then it should run on a blockchain platform by underlying the automated digital contract system known as” smart contracts “
Advantage of Smart Contract In MLM Businesses
So now you got an idea, why cryptocurrency MLM should be made with Smart contracts, Right? Okay, why prefer ethereum smart contracts. Let’s see
The Highlights of Ethereum Smart contracts
The concept of smart contract came to limelight, only after the invention of ethereum. So, we can say ethereum is the father of modern smart contracts. Apart from this there are some technical elements which makes ethereum smart contracts more specific and much preferable than other blockchain smart contracts.
Refer more : The Benefits of the Ethereum Blockchain
Now, we are in the tail of this article. Continue reading..
To start a cryptocurrency MLM, you should have a proper plan, requirements and resources to execute the plan. The business plan, and the requirements should be declared by you. To execute the plan, at bitdeal we can provide all the resources for platform designing and development, Smart contract development, QA testing of the platform, Smart contract auditing, and to deploy the project on time. Apart from this at bitdeal we are providing ready made clone packages of currently popular ethereum smart contracts. Which doesn't require much time and effort to make it live.
We have popular smart contract MLM Clone Scripts
If you don’t want to choose a clone script, and want to make it from scratch, then proceed further.
We will discuss everything in detail in upcoming articles. So, this is the rough plan to start a cryptocurrency MLM With Smart Contract in 2020.
Bitdeal, we are the reputed blockchain development company and are experts in custom smart contract development, and auditing services. We can travel with you throughout the process of developing your cryptocurrency mlm platform with ethereum smart contracts. Check out our development process below.
Cryptocurrency MLM businesses with ethereum smart contract integrations are getting a huge hike and witnessing high profits during this coronavirus pandemic time. People who wish to make money online, utilize blockchain based MLM schemes to get high ROI. So if you want to be a successful billionaire, then this is the right time to start your own cryptocurrency MLM with a Smart contract.
Hi this is Sam, Working as Technology advisor and blogger at bitdeal. Having 4+ years of deep understanding and experience in cryptocurrency trading industry. I keep on hunting the new trends and technologies that are related to crypto's as well as blockchain Industry. Stay tuned with me at bitdeal, to get interesting updates regarding bitcoin, cryptocurrencies and other emerging blockchain technologies
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