Smart Contract based MLM is a completely Decentralized MLM Platform built using Blockchain Smart Contracts. MLMs are preferred with Smart Contracts as it provides high security and also removes the involvement of centralized authority. Smart Contract MLM brings trust among the users which reduce the risk.
What is MLM (Multi-Level Marketing)?
Network Marketing which is popularly called MLM or Multi-Level Marketing is a Referral marketing on multi-levels. MLM is broadly defined as a business strategy where members are recruited for promoting a company’s products and services and then incentivized to recruit new members from their referrals indicating a possible pyramid scheme.
The MLM Business has gained a remarkable momentum over recent years because of the opportunities the business model provides for peoples to earn money. However due to some inefficiencies in the traditional MLM, such as lack of transparency, mistrust, mutability, and delayed transactions, Entrepreneurs were looking for right MLM solutions and they turned to Smart Contracts based MLM.
Smart Contract Based MLM
Smart Contract based MLM is a completely Decentralized MLM Platform built using Blockchain Smart Contracts. MLMs are preferred with Smart Contracts as it provides high security and also removes the involvement of centralized authority. Smart Contract MLM brings trust among the users which reduce the risk. The Smart Contract MLM Platform is configured with different MLM Plans that offer members who joining the MLM scheme to earn Cryptos as rewards by referring a new one to join the platform. These MLM Platforms are Mostly developed on Blockchain Networks such as Ethereum, Tron, etc which in turn allows users to earn ETH or TRX using this referral program.
Powered with blockchain technology, smart contracts are of intense interest to businesses as it provides high security and transparency. A smart contract is a computer protocol planned to digitally facilitate, verify, or enforce the performance of a contract. Smart contracts allow the performance of credible transactions without the involvement of third parties.
When MLM Platforms are Used with Smart Contract, it automates the processes performed on the MLM platform and reduces the effort of humans and also helps to solve the issue of mistrust among the users which was a great inefficiency in Traditional MLM. Thus Smart Contract based MLM business allows gaining trust among users while enhancing transparency.
Smart Contract Based MLM on Ethereum
Ethereum is one of the Popular Blockchain Network and it is the major choice for Smart Contract Based MLM. So we use the Ethereum platform to design and develop such highly-secured and distinctive smart contract-based MLM. Ethereum smart contract MLM platform is completely decentralized which is built over Etheruem Blockchain Network. The Members who join the MLM Platform will earn rewards in ETH. The Ethereum Smart Contract MLM will be based on the MLM Plan of your Needs. Whether you need to Build your Smart Contract Based MLM Platform from Ethereum Smart Contract MLM Script or from Scratch, Our Developers are well versed in it.
Smart Contract Based MLM on Tron
Tron is a blockchain-based Decentralized Platform. TRON Smart Contract MLM is nothing but a Smart Contract Based MLM built and deployed over Tron Blockchain Network. This MLM Platform Works the same as Ethereum Smart Contract but the main difference is that the members who join in the mlm plan will earn rewards in TRX Tokens. The TRON Smart Contract MLM can be built based on your MLM Plan. The Tron Smart Contract MLM will offer high transaction speed and low transaction fees for your users.
Smart Contract Based MLM On Bitcoin
Bitcoin is used everywhere and MLM is no exception. Smart Contract based MLM can be built using Bitcoin Blockchain in which members can join with Bitcoin and earn Bitcoin as a Reward for referring the new one. Bitcoin Smart Contract MLM can be developed based on your preferred MLM plan.
Smart Contract MLM Plans
Smart Contract-Based MLM can be Built on various Blockchain networks such as Ethereum, Tron, Bitcoin with Various MLM plans that allow members to earn rewards based on the plans your MLM Platform is configured with.
1. Binary Plan
2. Unilevel Plan
3. Matrix Plan
4. Hybrid Plan
Key Benefits of MLM Platform with Smart Contract
Blockchain uses distributed ledger technology which allows every user on the network to access which shows high transparency on the process. This is why smart contract-based MLM software is gaining attraction among MLM users and Businesses.
The use of Smart contracts in MLM Platform enables absolute trust in their process execution. The autonomous, transparent, and secure nature of the smart contract removes any possibility of manipulation, bias, or error.
Smart Contract-Based MLM Platform offers better traceability of funds which is the ability to identify, track, and trace every transaction performed on the Smart Contract based MLM platform.
Eliminate the risk of fraud
Smart Contract-Based MLM Software completely removes the involvement of middleman so chances of fraud risk is eliminated and gives greater transparency of business transactions.
One of the main features of the blockchain network is security and its powered technology smart contract offers the same. So the transactions being made on smart contract-based MLM are secured with the highest level security.
The main Advantages of the Cryptocurrency MLM Platform with Smart Contract are the security and the transparency of transactions being made on the MLM platform. some of the other benefits are
Benefits of Smart Contract Based MLM Platform
Faster and Easier payment Transactions
No Additional Fees Involved.
Enabled peer to peer Transactions
Ethereum Blockchain – completely decentralized
No Middle Man involvement
Eliminates Risk of Fraud activities
High Data Security
Allows international transaction