MediShares (MDS) is an Ethereum based ERC-20 compliant token developed as a mutual-aid marketplace on the blockchain. MediShares is also launched on EOS network. MediShares tokens are used for the payment by users to participate in mutual aid claim contracts. The token is also used for payouts of mutual aid claims. Any user can join the platform by sending MediShares tokens to the smart contract. There is a 2 billion fixed supply of MediShares token. The tokens will be locked when the contractShow more [+] starts, more the users join the platform, less the number of the token will be available and a scarcity will be created. As a result, a secondary market will form i.e. exchanging of MediShares tokens. This market will be operated independently of the MediShare foundation. MediShare uses Delegated proof of stakes consensus mechanism for faster transactions. The anonymity is created by using Zero-Knowledge proof project Alchemy.
MediShares system of operation has four core components i.e. smart contracts, dApps, Oracle and Interplanetary file system (IPFS). A smart contract defines the rules and regulations. The dApp provides a web-based function to create and share smart contracts. Users can see the balance of their MediShare tokens in the dAPP. Oracle helps in executing the smart contracts in Ethereum Virtual Machine. The IPFS system is used to store large files such as documents, images, voting modules, and community management related functions. The possible use cases for MediShares are mutual aid contracts for serious illness, anonymous disease, disastrous weather, enthusiastic drivers and virtual currency.
MediShares platform is working under the Singapore based MediShare foundation. The Chief Executive Officer, Eric Yu, is leading the team. He is a full stack developer and CTO of Zhongtuobang. The team consists of 3 other members. Bo Shen, David Lee Kuo Chuen, and Ke Qiao are the consultants at the MediShares platform.