BTU Protocol

Introduction

Let's go to continue this blog with other project. First of all, for who missed previous entry, what's a cryptomoney? To be fast and concise, it is a digital medium of exchange. And the next question would be... What's your use? It is also easy to guarantee the security, integrity and balance of your financial statements by means of a network of agents (segmented file transfer or multisource file transfer) that verify (untrust) each other called miners, which are, for the most part, general public and actively protect the network (the web) by maintaining a high rate of algorithm processing, in order to have the opportunity to receive a small tip, which is distributed randomly.

Today there are thousands of coins on the market, already in operation, such as Bitcoin, Ethereum, Ripple, etc., but there are many thousands more that are about to leave. The former are called cryptocurrencies and can be purchased on many websites such as Coinbase, Localbitcoins, Kraken, etc. The others are the so-called ICO's (Initial Coin Offering), which can be obtained with significant discounts and price runs through small contracts and transfers through Ethereum. But there exist others those that have just been born, which are not even in the ICO phase, which launch campaigns to attract the public attention, these are the Airdrops. With this, we can get thousands of coins for free. I emphasize these because it's a way to win cryptocoins even if the market is as it is. Through this way you never lose money.

However, not all of them are worth it. We have to read well what each project is dedicated to, what is its whitepaper, its qualified advisors, etc. As we all know, blockchain technology has gained popularity due to the hype about cryptocurrencies which has shaken many startups to launch their own cryptocurrencies even without convincing fundamentals. This trend has emerged because new entrants have been more agile in adopting emerging technologies compared to incumbents who are hampered by legacy systems. However, this competitiveness and this advantage enjoyed by the new players may be short-lived, as no economies of scale are taken into account. For this reason, that is why I choose the best of them through an exhaustive study of the main characteristics.

For this reason, the project I am going to present you is Booking Token Unit (BTU) Protocol, the first decentralized reservation protocol to empower anyone to become a booking platform.

Presentation

Definition

As I said before, BTU Protocol (https://www.btu-protocol.com/e...) is a standardized basic component for any decentralized application (dApp) or website that wishes to implement reservation functions for its users. This standard also provides interoperability between the decentralized applications that incorporate it. The BTU protocol is currently under standardization in the Ethereum ecosystem as ERC-808 and BTU token will be an ERC20 token that executes the protocol. All platforms that implement the BTU protocol would benefit from a hybrid approach that combines an intelligent contract within the chain and software components outside the chain, providing greater scalability.

Goals 

On the one hand, the main objective of the BTU Protocol Platform is to create a standardized decentralized open source reservation protocol along with reference implementations that can be exploited by participants in industries such as hospitality, travel, finance, health, retail, automotive and more. On the other hand, BTU token is created to encourage appropriate behaviors such as rewarding successful reservations and enforcing late cancellation and no-show policies.

How it works 

Four components are involved in the BTU Protocol process: a provider, a booker, a reservation infrastructure and the RES smart contract.

Component	Definition
Provider	The provider is an entity that provides its own resource or a third-party resource to be reserved
Booker	The booker is an entity that reserves the resource for itself or for a third party
Reserve infrastructure	The reserve infrastructure is the public plac" where providers can publish data on resource availability and where these resources can be reserved by reservists.
RES	RES is the intelligent implementation by contract of the decentralized standardized BTU protocol

There are several steps involved in the BTU Protocol:

• Step 1: The sequence is started by a provider, who creates an availability offer. At any moment, the provider can update the resource metadata by broadcasting a new message.
• Step 2: Booker looks for a resource queries all resources matching his criteria and selects a resource he is willing to reserve.
• Step 3: Booker transmits the reservation request of resources to the reservation infrastructure adding all the information of the end user's profile outside the chain that may be necessary for the approval of the reservation.
• Step 4: Provider validates the reservation request and broadcasts the new status to “RESERVATION_CONFIRMED”.
• Step 5: RES smart contract updates the reservation status to “RESERVATION_CONFIRMED”.
• Step 6: This step is optional. On the one hand, the booker can cancel the reservation by issuing a cancellation request. This triggers a submission to the RES smart contract that empties the records for this resource. On the other hand, the provider can also cancel the reservation by transmitting a request for cancellation. In this case, it triggers a shipment to the RES smart contract that empties the records for this resource. RES smart contract is releasing the amount in custody to the booker.
• Step 7: Finally, booker notifies that the resource has been paid. The smart contract of RES releases the BTU in custody to the user in addition to a commission agreed by BTU.

In the below image, a representation of the whole sequence can be seen.

Benefits

Software and open-source block chain protocols, along with symbolic design backed by business strategy research and game theories, can provide new solutions to a large number of business problems. Specifically, BTU Protocol brings a free software kit for mass adoption standard protocol for sharing availabilities in an open network. Its protocol is well suited to the issues of hospitality and business travel. Moreover, it is a generic protocol that applies to many industries: restaurants, sporting events, exhibitions, concerts, car repair, industrial equipment and even cloud computing. For this reason, all applications that implement the BTU protocol would benefit from a hybrid system that combines an intelligent contract within the chain and software outside the chain that provide greater scalability. Besides, thanks to an open source protocol, a public and transparent inventory  would considerably reduce barriers to entry in the online reservations markets. Finally, the platform implements a virtuous model that redistributes value among business actors

Roadmap

Year	Event
November 2017	BTU Protocol presentation at DEVCON3 Unicorn P&P in Cancun
January 2018	EIP ERC-808 submission of the BTU Protocol
February 2018	Hackathon at the ETNA school
March 2018	Releasing the BTU Protocol MVP
March 2018	BTU Protocol presented at the Ethereum Community Conference
April 2018	BTU Protocol Token sale
May 2018	Earth - “Earth” release. Protocol fully onchain, RES smart contract, Demo dApp
Q3 2018	Mars- "Mars" release. Support to first platform based on BTU protocol, Booking infrastructure, Javascript SDK, Template dApp customizable to any industry
Q1 2019	Jupiter- "Jupiter" release. Support to more partners leveraging our booking infrastructure, SDK in Javascript, Java, Python, Go, Plugin for Wordpress, Drupal and other CMS
Q2 2019	Saturn - "Saturn" release. Integration of reputation system, Enhanced privacy features
T4 2019	Uranus - “Uranus” release. Implementation of a Cosmos Zone

Airdrop

The project gives the opportunity to earn BTU tokens performing some social media tasks and doing simple steps from the bounty program explained into the Steemit page. Here (https://steemit.com/blockchain/@btuprotocol/btu-protocol-communication-bounty-program) you can access to the link in order to see what are the conditions to become an early BTU contributor and start acquiring tokens.

Doesn't that sound interesting? If you are interested in this airdrop or basically in the ICO, you can read their Whitepaper here (https://www.btu-protocol.com/p...). You can also stay tuned in their official Telegram group (http://t.me/BTUCommunity). I hope you liked the post and soon I'll send you new ones. 

Token details

Token: BTU

Platform: Ethereum

Type: ERC20

Price in ICO: 1 BTU = 0.75 USD

Tokens for sale: 50,000,000

Team and Advisors

Author details

Telegram username: @clauming

Bitcointalk username: adriaparcerisas

Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1870482

Ethereum address: 0xC6AB45541006D53D31E25b41c7d245c5Ad99BF71