Blockchain and MLM are the two industries that are taking the world by storm. Both industries offer multiple business opportunities to entrepreneurs and investors. Interestingly, the MLM industry is primed for massive growth in the year 2021. If you are planning to come up with an MLM platform, you must explore blockchain-powered smart contract based MLM software.
These smart contract based MLM platforms offer the following benefits:
- The smart contracts help eliminate fraudulent activities in the network
- They bring more transparency to the activities on the MLM platform and help build a strong network
- Smart contracts enable traceability of transactions
- Transaction automation eliminates payment delays
- Enhanced revenue-generating module
- Eliminate third party involvement
How to plan Smart Contract MLM software development?
- Decide your MLM plan – whether it should be Matrix plan, Binary plan, Unilevel plan, or more
- Decide the referral and the commission scheme
- Decide the blockchain that will power your smart contract – whether it will be Ethereum, Bitcoin, or TRON smart contract MLM
- Get the smart contract integrated into the MLM software and the website
TRON Smart Contract MLM vs Ethereum Smart Contract MLM
Both TRON and Ethereum are open source blockchains. Thus, they are easily available for smart contract development. However, every MLM business smart contract needs to be customized to operate in a business-specific manner. Based on the performance, cost, speed, and efficiency requirements, the developer needs to choose between the TRON and Ethereum blockchain.
Here is a detailed comparison of the two.
- Ethereum Smart Contract MLM
In order to deploy a fully decentralized Ethereum smart contract, the following components need to be integrated into the software.
1. Ethereum Smart contract
2. Ethereum Wallet
3. MLM website and App with a user-friendly interface
4. Know Your Customer (KYC) Dashboard
5. Transactions Dashboard
6. Dashboard for Commission Distribution
7. Helpdesk Ticket System
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By integrating the above components, the following features can be built into the software:
- Participation Joining Methodologies like direct or referral
- Dashboard for fiat to ETH or vice versa conversion
- Quick deposit and withdrawals
Advantages of Ethereum Smart contract MLM
- 100% decentralized network operations
- Secure transactions
- Participant anonymity
- Instant withdrawals
- High transparency of data stored on the Ethereum blockchain
- All of the transactions and addresses are stored in Etherscan which can be easily accessed
Why Prefer TRON Smart Contract over Ethereum Smart Contract for MLM business?
TRON blockchain was inspired by Ethereum, thus most of the features and components remain the same for TRON smart contracts. However, recently, TRON’s token standard TRX 20 is becoming more popular than Ethereum’s ERC 20 standard.
However, there are some major benefits of launching TRON smart contract MLM.
- The main advantage of TRON over Ethereum is transaction fees. Transaction fees on the TRON blockchain are lower than the Ethereum blockchain. This is because Ethereum fees are calculated by multiplying Gas and Gas Prices. However, on TRON the transaction fees are calculated based on the bandwidth and energy. Thus, TRON smart contract powered transactions automatically attract lesser fees. The transaction fee on TRON is near zero, so the platform users prefer MLM platforms developed using TRON smart contracts rather than Ethereum or Bitcoin powered smart contracts.
- The transaction speed of the TRON blockchain is much higher than Ethereum blockchain. And this is the major advantage for the platform operators as well as the platform users. To be precise, the transaction speed of TRON is 25,000 TPS.
If you are planning to build smart contract based MLM software, Antier Solutions can help. We enable your business to take forward steps in the MLM industry by using the right technology in its best form. Our seasoned smart contract developers have mastered Bitcoin, TRON, and Ethereum blockchain smart contract development. We also help MLM businesses strategize the compensation plans and commissions that are handled well by the platforms developed by us.
We specialize in offering MLM scripts to accelerate the deployment of your MLM platform, and at the same time, we leverage our expertise to build a custom MLM platform from the ground up.
Schedule a free demo of our white label smart contract-based MLM platform or connect with our subject matter experts to share your needs for a custom platform to be built from scratch.