Ether Echo. Magic Contracts.

ropod7ropod7 TallinMember Posts: 11 ✭✭
What is Magic Contract

The so-called Magic Contract is a personal engine for data encryption and decryption. It is generated by the Ether Echo service for each individual customer by the random number generator, and no one is able to monitor the contract and the data generated by it, except for the customer. The contract shall be registered on the side of blockchain of Ethereum and provide access to its functionality based on the principles of decentralized authentication system. On the side of the contract you can register up to 7 users, who can implement this contract. When generating contract its period of validity is fixed for up to 30 days, i.e. after expiry date the contract shall only decrypt the encrypted data, but shall not encrypt it. The period of validity is aimed first and foremost at the security of data exchange between contract users and at the confidence that the relevance of the newly generated contract is higher than that of the previous one, and respectively the reliability of a new stream of transmitted information shall continuously increase. The size of encrypted data is conditionally absent due to the logic of the implementation of the contract and will largely depend on the Ethereum customer working on the customer side; to be precise, it depends on its capacity, because the principle of contract implementation shall fully be consistent with the principles of decentralized applications and shall fully be executed on the client side and by means that he has taken on board.

The encrypted data can be transmitted by any means the customer may find convenient for him, including via registration of the so-called messages in the form of contracts on the side of Ethereum blockchain by using Ether Echo functional service.

When ordering contract the customer shall be rendered the opportunity to register two contracts on the side of the two Ethereum networks: Ethereum Main Network and Ethereum testnet.

At the moment, each visitor of Ether Echo service shall be able to generate up to 3 contracts exercising his rights as a beta tester.

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