Project Name: Croin
Project Track: Web3
Team Name: Croin
Team Member(s): 1 @Biraris
DevPost Project Link: Croin | Devpost
Project Goal:
Croin aims to facilitate a generic tool for web3 that can yield a Boolean output based on inputs from two users/parties. A user (say, creditor) can place certain terms (in common English) against another user (say, debitor). Within a timeframe, if the debitor fulfills the terms, then certain amount is transferred to debitor. Else, it is transferred to the creditor. Such logic manifesting Boolean output can be used by various web3 projects. This would offer an oracle-like functionality for user inputs.
A straightforward use-case of Croin is in trade financing, where conditional payments between two users can be facilitated.
Another use case is NFT verification/validation.
Project Value:
Compliance between offchain/third party user inputs and onchain processing. Any other smart contract can interact with Croin smart contract for various parameters and a boolen value. Croin shall provide the Boolean output based on the smart contract parameters/logic and the offchain user inputs. This opens door for newer use cases and models on the blockchain.
With completely different perspective: conditional payment based on predefined terms is the utmost demand of financial sector. Croin provides a blockchain substitute to trade financing (letter of credit). Such autonomous credit generation & settlement without bank involvement is far efficient, faster & cheaper. This would accelerate adoption of blockchain based commerce.
Project Info:
It is basically a cryptocurrency on Tron that has several intrinsic/inbuilt functionalities. Apart from the transfer & allowance, any user can generate a credit for other users. Each credit has certain properties those are configured while credit generation. These properties are: amount, validity & terms of the credit. If the terms are fulfilled within the validity, then the amount is transferred to the designated person (say, debitor). If the terms don’t meet or validity passes, then the amount is transferred back to the user who generated the credit (say, creditor). The terms can be the trading terms among the creditor & debitor. This credit can be generated & settled effortlessly similar to typical transactions.
The terms need not to be constrained for financial or trading related. They can be anything that leads to Boolean output in general (by logical reasoning). For instance, it can be a bet on some event or instance, or demand validation of a random claim or check whether certain NFT exists in reality. This boolean output can be used by the web2 or web3 programs for straightforward integration.
Hence, Croin offers a generic tool for boolean output.
Project Website: https://croin28.vercel.app/
Project Test Instructions:
-
Ensure installation of Tronlink browser extension.
-
Once Tronlink is unlocked & connected, click on login. It will fetch your Tron address.
-
Accredits page facilitates credit generation, tracking and inquiry. Determine page facilitates voting on a credit (for user role of Trustee). Settle page facilitates chat between the creditor, debitor & trustees. Actuate page facilitates settlement of a credit (for user role of Trustee). Check page facilitates some insights on the affairs.
-
You shall need the CR tokens. Please email at gauravbiraris@outlook.com mentioning your Tron address to get the tokens or relevant user roles for testing.
Project Details:
The project consists of a smart contract and a dApp. The smart contract ensures execution of the essential functionalities and user roles. Basically it is a TRC-20 token with many additional features.
The dApp is a trivial app facilitating user interactions with the smart contract. It uses Tronlink for authentication and injected tronweb by the wallet in browser. This dApp is built aiming the default use case of trade financing. Yet, it can be used for various use cases as the users can put the terms in reasonable English while credit generation, and the trustees can understand the logic in English.
The dApp is a react app built with typescript and firebase. Firebase database duplicates the data though all the data is currently retrievable from blockchain. In future, we can minimize blockchain data if the cloud database suffices for reliable execution.
We have deployed, tested and optimized the smart contract for transaction costs/energy. We successfully reduced the costs to almost half than initial versions.
Smart Contract links: TRONSCAN | TRON BlockChain Explorer | 波场区块链浏览器
Project Milestones:
Milestone 1: Smart contract programming & testing on Tron-IDE. And subsequent conclusion of optimum smart contract code… till 25 August 24 (completed).
Milestone 2: Deployment of smart contract on Nile testnet and on-chain testing …till 2 September 24 (completed).
Milestone 3: Development, testing & otimization of the dApp at localhost… till 5 October 24 (completed).
Milestone 4: Deployment of the dApp … till 8 October 24 (done)
Milestone 5: Customer survey & field testing of the dApp… till 8 December 24 (planned).
Milestone 6: Deployment of the contract on Tron mainnet and migration of the dApp & database… till 25 December 24 (planned).
Milestone 7: Whitepaper and outreach …1 January 25 (planned).
Croin concept note.pdf (470.7 KB)
We are on mainnet now.
Contract address: TLTp6KvkKJuJmv9TUHaaXATvn5TdofMxyD
dApp: https://croin30.vercel.app/