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Review: Forsage Smart Contract
July 9, 2020 8:26 am
You might have been hearing about Forsage and Million Money platforms and you wonder about their authenticity. Both are platforms staged to accumulate ethereum( crypto currency) into your crytocurrency wallets but I will be reviewing the services of Forsage smart contract. Hence, our focus on its service. You will have to be very patient while going through this because it is a long review which enlighten you to know whether the project is legit or a scam. Let’s ride!!!
Forsage smart contract is a fully decentralized Matrix system that allows fast and easy accumulation of Ethereum. It was established in February, 2020. (Ethereum is a digital currency – biggest behind bitcoin). This means that there is no human intervention, no centralised authority. Every activity to be done in Forsage has already been made automated by a smart contract. You will also need a basic understanding of some terminologies. These are:
A smart contract is a computer protocol intended to digitally facilitate, verify, or enforce the negotiation or performance of a contract. Smart contracts allow the performance of credible transactions without third parties. These transactions are trackable and irreversible.
In the simplest terms, Block chain can be described as a data structure that holds transactional records and while ensuring security, transparency, and decentralization.
You can also think of it as a chain or records stored in the forms of blocks which are controlled by no single authority. Block chain is to digital currency what central bank is to paper currency.
A CRYPTOCURRENCY WALLET
It is a software program that stores private and public keys and interacts with various blockchain to enable users to send and receive digital currency and monitor their balance. In simpler words, This is more like your Bank Account, You receive Crypto Currency with it and Send out Crypto Currency with it.
HOW TO EARN ON FORSAGE
1. Referrals : If you understand the concept behind Network Marketing, I am sure you will know there is no successful Network Marketing Business Without People (Downlines and Uplines). This is the quickest and fastest way to earn in Forsage. You will get paid for every individual you recruit into the platform.(So it is a networking business)
2. Spillovers: This is more like a commission you get from your Active Downlines and Active Uplines. You will earn spill overs mostly from your downlines (You see why it is important to recruit?)
3. Overflows: This is the random distribution of Earnings to registered members. It is mostly missed earnings from someone else. Your chances of getting overflows increases as you grow in level.(you will see the different levels as we go on)
The main work is the referrals, you see the Spillovers and Overflows are just bonuses, the amount of bonus you will get is determined by how much work you put into it and how active your Network is. Therefore, while recruiting, ensure you recruit people who are serious about being successful.
FORSAGE RUNS ON 12 LEVELS WITH EACH LEVEL HAVING X3 AND X4 PACKAGE
What is X3 and X4 package?
How can I earn on them?
X3: This is your Referral Matrix ( You can only earn through referrals here), it contains 3 spots per level.
X4: This matrix contains Overflow and Spill over earning. It contains six spots.(You do not need referrals to earn here). Oh! But you need to wait for a long time to start earning without referrals.
So in level 1 for X3
You will be earning 0.025 worth of Etheruem per spots. Taking note that you have 3 spots to earn from.
For X4 Level 1.
You will be earning 0.025 worth of Etheruem per spots. Taking note that you have 6 spots to earn from.
Each level per spot brings as twice as the previous one. Check the breakdown below to understand what I’m talking about.
Level 1 – 0.025 per spot
Level 2 – 0.05 per spot
Level 3 – 0.1 per spot
Level 4 – 0.2 per spot
Level 5 – 0.4 per spot
Level 6 – 0.8 per spot
Level 7 – 1.6 per spot
Level 8 – 3.2 per spot
Level 9 – 6.4 per spot
Level 10 – 12.8 per spot
Level 11 – 25.6 per spot
Level 12 – 51.2 per spot
At least, from the above you now understand the basics of and have a fair knowledge of forsage smart contract and how it works. You can now decide for yourself whether to register or not to, whether it is a scam or legit.