The Precium platform is a new smart contract platform for peer-to-peer (P2P) transactions that allows contracting parties to create and use smart contracts. The Precium platform provides users with a template of code for various contract terms, allowing platform users to select and combine their preferred contract terms to create a complete smart contract. In addition, anyone can create and upload contract terms to the Precium platform. These contract terms go through a validation process to ensure users’ safety. Onyx chain, the core of the Precium platform, is a hybrid blockchain that combines public and private blockchains. Onyx chain employs the raft consensus protocol used by Quorum, a representative private blockchain based on go-Ethereum, and simultaneously preserves blockchain’s transparency while enjoying a high transaction rate and high scalability.
