BEIJING, Dec. 28, 2017 (GLOBE NEWSWIRE) -- Smart contracts hold the greatest hope of revolutionizing industries and fully implementing a decentralized, trust-based ecosystem of applications on blockchains. Unfortunately, current programming languages like Solidity leave contracts vulnerable to attacks, requiring a level of complexity and verification now hindering development on platforms like Ethereum.

Now the Red open-source stack goes one step further. The father of Red open-source project, Nenad Rakocevic, CEO of Fullstack Technologies Ltd, is launching Red Community Token (listing as RCT) to power the development of Red’s new programming language for secure, scalable smart contract and distributed app development.

As the Red project grows, RCT tokens will be the foundation for intra-community operations and economics, enabling use of a growing system of decentralized apps built with Red. RCT will be exchanged for Ethereum (ETH) throughout the initial currency offering. New investors will join early investors and investment groups to support the development of our new coding solutions.

Technology for smart contracts

Founded in 2011 by Nenad Rakocevic to bring simpler, more cost-effective solutions for software builders, Red’s key value is its support for easy creation of domain specific languages, drastically reducing complexity in software development. As an open-source project operating transparently, Red’s community already spans thousands of users and dozens of contributors working daily to improve Red and introduce it to newcomers.

Current Dapp web stack development suffers from three key weaknesses: security issues, heavy deployment (for standalone Dapps), and the burdensome learning curve required by the mastery of HTML/CSS/JS languages and ever-changing frameworks.

Red developers are building Red/CCC (Cross-Chain Code) to implement domain specific on-chain programming, using two, layered languages with distinct advantages. Red’s high-level code will be a symbolic, highly declarative language, featuring restricted computing semantics and control flow. This offers a high level of safety comparable to template based development while providing much needed flexibility that templates lack. Red’s lower-level language will be a more general purpose, statically typed subset of Red language, supporting general computations. In addition to enabling the writing of new contracts, both language levels will be able to call external contracts written using other tools, ensuring full interoperability with pre-existing contracts.

The standalone Red/CCC toolchain can be run natively on user’s desktop or mobile devices. It will include a blockchain VM bytecode compiler, a generative tests module for contract testing, high performance blockchain VM simulators, and wrappers to separately downloadable minimal blockchain nodes supporting deployment to public blockchains.

Red’s Dapp development model will replace standalone web stack based Dapps at less than 1% of their current size. Further details on Red Dapp, the Red/CCC toolchain, and Red/CCC cross-chain language are available in the Red white-paper.

Red Community Token 

As an ERC20 token, RCT token is intended to power the Red community’s continued growth, as a decentralized anonymous organization (DAO). By introducing the requirement that community members hold tokens, it will enable voting rights on key features and updates as the project advances. Red aims to set a new example for decentralized organization supporting blockchain and smart contract development. 

To learn more about development at Red and getting involved, please visit https://www.facebook.com/groups/redlanguage

Company Name:FULLSTACK TECHNOLOGIES LIMITED
Address: RM C 21/F CENTRAL 88, 88 DES
VOEUX RD CENTRAL
HONG KONG
Phone: 53191510
Email: contact@fullstack