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Cover image for CrypToLock
Hariharan S
Hariharan S

Posted on

CrypToLock

A Smart Contract for locking up the trading of Cryptocurriences for certain amount of time for the betterment of crypto-users.

Inspiration 💡:

Frequently, We come across people who invest in cryptocurriences and failing it to do it in a long term manner.
So, people are not getting their profit that execeds their margin amount.
Our team aspiring a solution for rectifying it by creating the CrypToLock .

what it does :

We created a time lock smart contract would be a wallet that would keep your crypto assets locked for a certain amount of time.
1 That means you won’t be able to withdraw your crypto assets even if you want to do .
2 We can use such wallets for multiple reasons.
3 One of the biggest applications of this time lock wallet is to prevent you from selling your crypto assets on the crash of the market.
4 When the market crashes people tend to sell their crypto due to the fear of losing all their invested money.
5 But we all know that if we want to make some really high profit in crypto we need to be able to hold it for a very long time.
6 One way of doing this is to lock your crypto in a time lock wallet. In this way, you won’t be able to withdraw it for a certain amount of time.
7 This feature will also allow you to turn transfers on and off to prevent snipe bots, attacks.

How we built it 💻:

We built our CrypToLock using solidity,HTML,CSS .

Challenges we ran into 👊:

We were completely new to this field . As beginners ,we faced many errors in our progress such as creation of suitable smart contracts.
We learnt that building a smart contract is not an easy task never ending process of adujusting small bugs.

Accomplishments that we're proud of 🏅:

We are proud of contributing useful solutions to the crypto-ecosystem.

What we learned. :

We learned how to use ETH Gas efficently for the block chain transaction.
We have learned that the nature of the crypto market is unprdeictable.

What's next for ▶️:

Our aim is to upgrade our CrypToLock as a plugin which will be suitable for all kind cryoto based Applications .

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