This whitepaper describes how RealTract is going to disrupt and transform the blockchain industry and cryptocurrency market with the launch of the first practical smart contract in the world. RealTract is going to launch Smart Contract 2.0 on the Blockchain 4.0. RealTract aims to create a truly democratic and decentralized blockchain enabling common users to get the benefits from the blockchain technology and digital currencies. There are many technical difficulties around blockchain core technologies, which need breakthroughs and out of box thinking. At present, the infrastructure to support development of blockchain applications is unstable and time consuming. There are a number of major problems related with the current blockchain and smart contracts such as Low transaction throughput, Energy costs, Difficult to use, Uncompetitive Applications, low Transaction speed, Transaction fees, Issues of interoperability and Platform lock-in, lack of robust security for smart contract 1.0, etc. The current blockchain architecture and technologies along with application scenario are limited by performance, applicability and stability of the underlying chain. Therefore, there is an urgent need to study the underlying mechanism of Blockchain, and redesign or improve the various key technologies of blockchain to solve the various associated problems. RealTract aims to solve the problems such as low applicability, transaction congestion, high commissions, long confirmation latency, weak resistance to quantum attacks, slow communication and transactions, incapability in crossing and merging chains, large space for storage and etc. RealTract would optimize and improve blockchain technology in all aspects including protocols and mechanisms, and become a genuine infrastructure of Blockchain 4.0.
