GRAFT.. ...Faster and Better

ighoboss (32)in #blockchain • 6 years ago (edited)

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Blockchain technology is an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way. Which is what every business wants to handle perfectly.
Blockchain technology has a huge potential to revolutionise economies by building trust less infrastructure with transparency.

Various business have gone out of existence due to the issue of trust, trust serve as the basis for all business as mist business now adopt the blockchain transaction in which you don't have to see the person you're dealing with physically, on this, great amount of trust is required. Crypto is the new kind of money that has caught the fancy of one and all. However Cryptos like Bitcoin and Ethereum have become more of a store for value as many industries now prefer to operate the medium of buying and selling using Cryptos thereby neglecting FIAT.

The traditional mode of payment is gradually getting out of use with the introduction of the blockchain which makes it convenient to send information of value over the internet and to also carry out smart contracts.
This payment upgrade would not be compatible with the traditional mode of payment( The legal tender, Bank payment, post office etc.).
With the gradual adoption of blockchain technology, there has been a proliferation of so many crypto wallets to store tokens.
A few months back, GRAFT finished their ICO and they already have their Mainnet running with positive feedbacks.
GRAFT has a constantly running supernode that process real-time transactions between merchants, buyers and third parties with a merchants point of sale (proxy super-node).

WHAT IS GRAFT?

The graft is universal payment platform which is based on blockchain technology. Therefore, it has features of both cryptocurrencies, which forms the underlying system that securely and privately registers payment transactions, and decentralized point of sale, which authorizes payment transactions in real time and allows merchants to accept payments and receive payouts not just in various cryptocurrencies but using traditional methods such as credit and debit cards. For consumers (buyers), Graft wallet provides a secure and untraceable method of payment using multiple cryptocurrencies and fiat currencies.

PROBLEMS OF THE TRADITIONAL ELECTRONIC PAYMENT SYSTEM

Unsuitable payment flows
Lack of offline transactions support
Low scalability
Volatility
Incomplete security
Poor usability of end-user interfaces
Lack of customer support

THE IMPORTANCE OF GRAFT
The importance is very vast, but lets discuss some.

Security concerns are too much with crypto currency but graft is solution of it.
Graft will make us free from Long confirmation times as it's fast and reliable.
Transaction fees is predictable and in balanced form.
Graft will bridge trust between buyer and merchant, as both able to know each other. Also helps merchant to make database of potential customers.
Graft Point of Sale apps support multiple transactions types that are unusual for cryptocurrency.
GRAFT will also support Bitcoin and several major cryptocurrencies, as well as traditional way of wash and plastic cards.
Graft will make us free from Long confirmation times as it's fast and reliable.

GRAFT will be integrated in Verifone and Ingenico payment terminals. By doing this ,various store owners can install a free application on their terminal and start accepting payment in cryptocurrencies. This will then give customers the ability to pay for the purchase made or service received through debit and credit cards without paying any transaction fee. in addition the client can pay with his favorite crypto. Also, a proclaimed concept that "cryptocurrencies have always been seen as electronic money to buy online and that must necessarily be changed to local currency to make purchases in physical, supply, commercial, and other stores", will be totally transformed, because now its participation in our daily forms of payment can no longer be neglected and through the systems of GRAFT, the public see the give the advent of crptocurrency a new view and see it as a more tangible, more physical means of carrying out transactions as this will increase the credibility of crypto processes and encourage more participation.
√Credit cards charge merchants large fees for every transaction a customer makes. This makes them costly, and that cost is carried over to the customer. GRAFT does not charge the customer, as the fees are paid for by the merchant. These fees are a fraction of what average credit companies charge.

RTA(Real Time Authorizations)

GRAFT is working on improving authorizations in real time, so that the user does not have to wait for approval of a purchase for too long, no one will wait 15 minutes for the purchase of your product to be approved. Therefore, GRAFT plans to improve itsauthorizations in real time so that when buying the seller receives its payment on the preferred credit card and the user can take their product home without inconvenience.

Transactions in the Graft network will be confirmed in real time and the transaction fees will be a fraction of those of the existing cryptocurrencies, and will be driven by the amount of the transaction instead of the network load as in the case of bitcoin . The Graft network is also designed to encourage micro transactions. In addition, Graft works with existing payment behaviors and infrastructure, allowing merchants to accept payments in both local fiduciary currencies and cryptocurrencies.

Conclusion
Running on its own blockchain sets the GRAFT blockchain project apart from its competitors that are based on the ERC20 tokens. There is full benefits for customer and merchant by Graft. Even miners and nodes are well equipped. Graft utilizes customary electronic installment frameworks, for example, credit, cash, and prepaid cards, which are as of now recognizable to and trusted by a huge number of clients. Graft will going to act as uniting force among cash, credit cards and crypto currency.

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