Review on Themis by Fabrizio Zampieri
Themis is a fair exchange system for digital currencies. Based on blockchain…
Themis is a fair exchange system for digital currencies. Based on blockchain technology, Themis provides a decentralized digital currency escrow service to offer fair exchange services among digital currencies, digital assets, and physical goods. Themis leverages a novel group escrow protocol, along with threshold encryption, anonymous reputation mechanisms, non-interactive zero-knowledge proof, high performance digital signature algorithms, in order to provide atomic exchange with guaranteed fairness. Furthermore, Themis is able to mitigate DoS attacks, and provide privacy for all peers.
Themis platform carries out three important functions:
1) OTC trading of Cryptocurrencies;
2) Online Payments of Cryptocurrencies;
3) Security Escrow for Supervised Accounts.
The Themis blockchain (aka. Themischain) is designed to provide a third-party escrow service (like the role that Alipay plays in online shopping). Themischain issues a token named Global Escrow Token (GET).
Themis (GET) is an ERC20 token based on the Ethereum blockchain. Themis has a current supply of 1 billion GET but there isn't any information about GET supply circulation.
GET is tradable on Huobi Global, HitBTC and CoinMex exchanges.
Pros
- - Security (none of the parties can transfer the digital funds during the period of exchange. Funds are deposited on an escrow account). - Privacy (in case of no disputes, the third-party can’t be aware of if the transaction completes, and only related parties can be aware of if disputes arise). - Passivity (no dispute arises, there is no need for the third-party to take part). - Correctness (ensure transactions and settlement of disputes are executed by the protocol agreed in advance). - GET token has great growth potential in medium-long term (currently GET quotation is understimated).
Cons
- - Founders team need to build a Themis ecosystem before seeing good results. - Many competitors on escrow accounts sector. - Themis dApps are still under development.
