Blockchain Application Development Platform Fabric Raises $1 Million in First 24 Hours of Token Sale


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Blockchain technologies are beginning to enter a new phase of existence; practicality, versatility and accessibility are hallmark features that indicate great potential in the future for a blockchain company. If those desired traits are stacked on top of a brilliant blockchain product or platform, then things are really beginning to look up — especially as more and more start-ups are beginning to deliver over and above expectations.

As Blockchain tech slowly begins to exit an experimental phase, there is still the issue of public and industrial mass adoption. It is apparent that the crypto industry is struggling to create routes into crypto that are easily navigable for the layman and the startup seeking to adopt this bubbling technology into their business, startups such as Fabrictoken — a crypto startup that wants to make Dapps more user-friendly.

Enabling a grass roots workforce

The issue of accessibility is high on the priority list, it’s not just the industry and public this entry barrier is causing trouble for — it also comes down to an extremely skilled and critically required workforce and, if left out of the picture, could cause the active population of crypto participants to stagnate. Developers and programmers who will be on the frontlines creating DApps (blockchain based applications) are being met with barriers caused by an absence of user-friendly software lessons and tutorials, creating a costly demand for highly skilled technological expertise.

From there, companies are forced to seek out expensive specialists, who, to a startup or small enterprise, could be unprofitable and unaffordable; this begins a vicious and unproductive cycle that could easily be avoided, if DApps become inaccessible at the grass roots of the industry then it is inevitable that innovation will be all but stymied within multiple crypto industries.

Fabrictoken, a crypto startup, is aiming its sights directly at the issue with their platform and token that will solve essential problems with the adoption of smart contract and blockchain technologies. This will be including the difficulties involved in the development of smart contracts, primarily taking action to create an official testing framework for the Ethereum programming language, Solidity.

The Right Tools for the Job

The Fabrictoken ecosystem is made up of four main components; for one, there is the Fabric Token which is a utility coin to be used within the Fabric ecosystem for payments and products.

Secondly, a TokenGen feature which allows for smart contracts to be easily created for tokens and their respective fundraisers, taking the focus away from this underdeveloped area to the important part, their idea.

Another fruitful edition is the DApp Workbench that provides businesses of any size a means to easily integrate blockchain and smart contracts into their intra and inter-organisational business processes all the while improving their management capabilities and workflows with an intuitive drag and drop interface. Finally there is the Fabric Store, a one stop shop for third party developers to create smart contracts, expanding the full functionality of the Fabric software and promoting the growth and larger scale adoption from users and business.

Fabric Token Generation Event

The Fabric token actually managed to raise more than $1 Million USD in under 24 hours of their TGE (token generation event opening). This is an indicator that they have managed to put a solution in place that is being recognised for its potential, this will be a platform to watch for some time to come. The token sale is currently still running and will end in just over a months’ time, head here to find out more.

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The post Blockchain Application Development Platform Fabric Raises $1 Million in First 24 Hours of Token Sale appeared first on Crypto Currency Online.

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