GRAFT - RE-INVENTING THE USE OF PoS VIA THE BLOCKCHAIN
Imagine all the things in your life that would be better if you didn’t have to trust or distrust people. How many hours a week do we spend unlocking doors or substantiating facts or protecting ourselves from "errors" and “bad actors.” Now you will think this is a script out of a movie I watched last night. Hell no!! Am trying to find some choice words to qualify the cryptographic power of the blockchain technology which is yet to be fully harnessed.
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
The truth is there is no perfect system but ultimately the benchmark of every great business is to be able to serve it's customer in a fair, trustless and comfortable manner. The biggest challenge is adopting a system that will reduce the risk of PoS attack, prevent half-hearted loyalty rewards to loyal customers due to the exorbitant cost of running their business, also create a healthy competition to reduce those high end trandsational fees on merchants. In this type of system, the customers are exploited unnecessary while the merchants could only offer less incentive to its customers.
But as awareness about cryptocurrency has increased exponentially over the decade, it seems more inevitably that we must reinvent a new way we do business. And what more technology to expose the loopholes in the present system than the cryptographic-based blockchain technology.
One company that is leading the war on that frontier is GRAFT. GRAFT is reinventing the way merchants interact with their clients/customers through their wide range of products streamlined to integrate blockchain technology into Point of Sale (PoS) terminals.
GRAFT stands for Global Real-time Authorization and Funds Transfer.
Built on the cryptonote protocol. The major benchmark of the graft ecosystem is to create a product that can seamlessly work in an active business environment using cryptocurrency side by side with fiat currency. So their products is modelled to be
Safe and Immutable offered by the cryptographic-nature of the blockchain
Fungible and Fast via their integrated RTA
Although, the Graft architecture bore a similar protocol to the the conventional electronic payment system such as credit, debit and prepaid cards. Graft also offers merchants the added advantage of exposing their business to reach a wider audience by offering businesses, merchants and sales outlet the opportunity to exploit the duality of their blockchain ecosystem, which are
Serves as cross-chain between fiat currency and cryptocurrency and vice-versa.
Access to a wider audience in a billion dollar market due to the global nature of the blockchain.
Reduced influence from third party application and middlemen on the decentralized blockchain.
CASE STUDY
WHY ACCEPTING CRYPTOCURRENCY IS EASY WITH GRAFT
Its faster Processing time
Graft blockchain makes use of supernodes. This supernodes helps the graft blockchain to initiate transaction in less than 3 seconds
with reduced transaction fee.It accepts only authentic Information
Since the graft blockchain is embedded on this supernodes, it stops the nodes from responding to prompts that are off-chain, thereby maintaining the authenticity of the network.It ensure the integrity of your data
The cryptonote protocol employed by the graft blockchain ensure the security of its clients data.
The Buyers (sender)
In graft ecosystem, the merchants bore the fees of the transaction which is just about half of the transaction fee accumulated when transaction is being conducted in the conventional PoS outlets.
Typical credit cards charge merchants somewhere around 2~3% for every transaction
For RTA based GRAFT transactions, the fee is a constant 0.5% across all volumes, plus 0.25% to 0.75% for SLA & services
So all that is left for the sender to do is to communicate with the graft blockchain via any of the numerous graft terminals which is easily accessible to him/her.
The Sellers (Merchants)
Apart from the numerous benefits such as low transaction cost, accept payment in different currency among others.
Merchants also have the opportunity to know their customer and use this information to make trade moves that can further increase their business earnings.
Also I think doing business in cryptocurrency attracts low or no tax levy in some countries which is an added advantage for merchants who adopt the graft system. For example in US, it was reported according to the tax office that only 87 investors reported their earnings from bitcoin investment. Imagine the free spend nature high cryptocurrency earners will be reeling in after a major breakthrough which translate to more customer for merchants on the Graft Ecosystem.
Then the miners also stand to gain from this healthy ecosystem because gains is calculated based on each supernode PoW( Proof of Work) and PoS (Proof of Stake).
GRAFT Wallets
GRAFT PoS
Available for small retail outlets. It is available in android/Ios version. Download Now
GRAFT Cryptofind
App to discover and list crypto-friendly venues. This app can be use to earn free GRFT token by completing this simple task.
Download here
Useful Resources
graft2018
Edited for Uptrennd Verification to show that the account belong to me from my conversation with Victoria Haruna.
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Game theory wouldn't make sense if trusting people wasn't part of the equation 100% of the time.