iOlite is an open-source, blockchain and machine learning platform, that will allow anyone to write smart contracts, using any language, natural or programming. The platform is developed with the purpose of bringing more mainstream users, commercial and non-commercial, to start using blockchain technology. iOlite tokens will be used to compensate contributors in the iOlite network that help with the machine-learning process: each text parsing suggestion that is accepted by the iOlite Fast Adaptation Engine (FAE), will be compensated with iLT tokens. In addition, authors will be able to share their smart contracts with other iOlite ecosystem members, for fees in iLT tokens.
iOlite is a product which focuses on the mass adoption of smart contract technology by providing an easy to use engine which is capable of understanding natural language to be compiled to smart contract code. iOlite is the ideal solution if you don’t want to spend time learning, instead just start creating smart contracts.
iOlite is based on the research done at Stanford University. They invented the FAE (Fast Adaptation Engine), which is capable of converting natural language or any other desired programming language into smart contract code. The FAE is not just straightaway translating your input to code. The FAE depends on contributors (smart contract experts) that are able to define structures containing language expressions. Furthermore, these structures are tied to smart contract code they write. This allows the engine to browse the structures to find the right expression so it can compile the desired smart contract. Whenever a structure is used, a contributor gets iOlite tokens rewarded.
iOlite relies on the community to make the FAE successful. The FAE helps them by applying Machine Training techniques to help it learn and adopt new structures more easily.
iOlite Labs is currently focusing on Ethereum smart contracts with Solidity as there is a massive need.
What this means is that not only can programmers (in formal languages such as Python, C, JavaScript, etc.) immediately use their existing skills to write smart contracts, but also average people with no programming knowledge whatsoever, can just as easily start developing with natural languages like English. iOlite is dissolving the existing technical learning boundaries for creating smart contracts.
Details
Token Symbol: ILT
Crowdsale Token Price: $0.022
Hard Cap: $12,500,000
Total Tokens Sold: 650,000,000 (65% of Total Supply)
Crowdsale Date: 27 March, 2018
Project Description
“iOlite is a community-driven knowledge base for naturalized languages which allows an easier human-machine interfacing. In other words, iOlite is a blockchain solution that constantly learns how to communicate with machines, using any language used by the community, which can be a programming language or a natural language. For example, if you would like to write a smart contract with Ethereum Solidity, you can do so by using C or C++ (or any other language) through utilising iOlite.” (Whitepaper)
Product
There are three major sectors that iOlite can greatly benefit:
mainstream programmers
mainstream businesses
the academy
iOlite offers a SDK pool for programmers in which they can use naturalized language for machine -humane interface (Bots, smart contracts, IoT) while working in a familiar working environment with a known programming language. Furthermore, iOlite can be used with natural language to create mainstream application such as bots, smart contracts, manage IoT interfaces.
In order to utilize the platform, users will need to install the IoLite plugin. The IoLite plugin will have a help file that will explain smart contract principle and it will be unique for all languages provided by IOlite. Users will also have the option to choose the IoLite system. Then the user will need to select the language which he/she wants to write a smart-contract with, and thereafter a smart contract can be designed and finalized.
“It is important to point out that plugins released from the community will have a strong supervising model. Only users certified by foundation blocks can make contributions to official releases. The code itself would be open source and any group will be able to create its own domain of FAE (Machine Learning system that translates natural/coding language), however the IoLite foundation will not support it or take any responsibility for it.”
Token Utility
iOlite coins will be utilized as a means for value-transfer inside the iOlite network. As an author of a smart contract, for example, you don’t need iOlite coins, but, if you would like to use a smart contract that was created by another author in the network, you will have to pay that author fees in coins.
Main positives
Businesses will be able to use Python, C++ and other known programming languages in order to build Ethereum based smart-contracts. This tool will come in handy for many developers that are interested in smart-contract but don’t have the time nor motivation to learn a brand new programming language from scratch.
iOlite can be used with natural language to create mainstream application such as bots, and manage IoT interfaces besides the smart-contracts creation.
iOlite coins are used as a means for value-transfer inside the iOlite network. As an author of a smart contract you don’t need iOlite coins, however if you would like to use a smart contract that was created by another author in the network, you will have to pay that author fees. Personally, I believe this is the perfect way to utilise the platform’s native tokens. For an individual who is not Blockchain savvy, this token usage design can truly benefit to iOlite’s adoption.
Main negatives
The proof of concept is yet to be finalised. The core team claims it will be done by the end of Q1, 2018 at the latest.
The documentation could be better. However, according to the core team they are working on a full website / documentation improvement which should actualise within the next weeks.
Team highlights
Alfred Shaffir (CEO) – Founded and managed three startups: Seanternet, an infrastructure for Internet at sea, Polycoin, a cryptocurrency-blockchain processing platform, and Folloyu, a web mobile technology. Has led global teams at Intel and Cadence Design Systems.
Frank Frausto (Advisor) – Frank Frausto is a Google veteran of over 14 years and has experienced first-hand the evolution of the world’s most recognizable startup from a private valuation of $18 billion in 2003 to today’s market capitalization of $640 billion. Currently, Frank serves on the Advisory Board of KrowdMentor, a strategic investment and advisory firm empowering blockchain investors, funds, startups and entrepreneurs to reach their goals.
Erik Alberts (Advisor) – Erik Alberts, a Cisco Systems executive, supports the development and execution of a strategic roadmap for supply chain. Erik is 20 year Silicon Valley veteran with extensive results-oriented experience in finance, operations, and supply chain. Working with teams from around the globe, Erik leverages the best of his financial, supply chain, and operational experience to drive impactful business transformations.
Milestones
1
Locomotor 20-Feb-2018
FAE Proof of Concept Internal/Friends of iOlite Exclusive Beta Testing
2
Locomotor 27-Feb-2018
FAE Proof of Concept Public Launch
3
Blockchain 05-Mar-2018 (Expected)
iOlite blockchain testnet
4
TGE - Token Generation Event Lunch
Public Presale (25% Bonus) - March 20st-March 27th
TGE Phase 1 (15% Bonus) - March 27th-April 2nd
TGE Phase 2 (10% Bonus) - April 2nd-April 9th
TGE Phase 2 - April 9th-April 14th
5
Blockchain 18-Apr-2018 (Expected)
iOlite blockchain mainnet
6
Plugin 07-May-2018 (Expected)
English to Solidity translation baseline created
7
Blockchain 01-Jun-2018 (Expected)
FAE integrated in node
8
Plugin 02-Sep-2018 (Expected)
English to Solidity translation achieves high usability
9
Plugin 31-Dec-2018 (Expected)
Chinese, Russian, and Japanese to Solidity translation baselines implemented
for more information:
https://iolite.io/
https://t.me/iolite
https://twitter.com/iOliteLabs
author:
BTT username: rivaldo2020
BTT profile link: https://bitcointalk.org/index.php?action=profile;u=2051385
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