Fahrenheit Chain is a project that aims to support decentralized financial applications, blockchain open source, and smart contracts. Fahrenheit's goal is to be a successful scaling solution and drive rapid growth.
Fahrenheit's characteristics:
Decentralized: Fahrenheit chain operates independently according to computer algorithms, completely not controlled by any one organization. Therefore, Fahrenheit chain avoids risks from 3rd parties.
Distributed: Blocks contain the same data but are distributed in many different places. Immutable: Once data has been written into the block of the Fahrenheit chain, it cannot be changed or modified, due to the nature of the consensus algorithm and the hash code.
Confidentiality: Only the holder of the Private Key can access the data inside the Fahrenheit chain.
Transparency: The transactions in the Fahrenheit chain are recorded and everyone can check these transactions. Based on that, we can check and retrieve the transaction history. One can even decentralize to allow others to access part of the information on the Fahrenheit chain.
Smart contract integration: Based on which the terms written in the smart contract will be executed when the previous conditions are satisfied, no one can prevent or cancel it.