YAYPROTO - Decentralized Money Transfer System

brainerdpaul (-2)(1)in #bitcoin • 6 years ago

YAYPROTO is an encryption technology that has evolved from scratch and is now the most stable way to protect third party information. However, the human factor remains fragile. Encryption keys can be stolen, tampered with, or tapped. This can be used for illegal actions. The concept of bit coin has brought new hope into the modern world of the Internet to ensure the failure of information by third parties. Information sent once between entities will not be altered and unauthorized changes will not be made.
YayProto is the world’s first multipurpose binary protocol that is built with a decentralized technology in mind. Beta versions of SDK’s for building mobile apps like iOS/Android are ready to be distributed by request.

Some of the features of the Yay proto Platform:

• Marketplace for local business/services (hotel, insurance, markets, any kind of a physical business that wants to go online).
• P2P-Money transfer platform (Hawala Banking).
• Awesome Messenger which provides you with oppurtunities to chat, make audio and video calls, conference, etc.
• Ultimate Privacy and Security with encryption keys stored in blockchain.

The YayProto platform desires or plan to create a decentralized cryptographic-resistant messaging system for private transactions.

The YayFan Messenger has all of the standard functions such as transmitting text, images, voice, video, files, stickers, groups, all protected with end to end encryption using Elliptic curve cryptography algorithm.

The P2P Money Transfer

• Real time money transaction platform
• Real time crowd lending platform

LENDING

With the YayProto, alternative decentralized lending solutions to individuals and businesses using the innovative blockchain technology will be provided. Having in backened Yayproto, there will be a platform developed, which will use cryptocurrency alonside fiat currency for the purpose of peer-to-peer lending. This YayProto Lending platform also enable people across the world to lend or borrow Bitcoin, Ethereum and Fiat currency and this can be a part of the global decentralized financial services. The team strongly believes in the great potential of peer-to-peer lending. Through the ICO, the paltform aims to make the services more transparent, affordable, and reliable.

Decentralization/Data/Content

• Provide your computing power and network speed for supporting the system and earn YFN.
• Share and receive rare and unique content and earn our benefits.

The Tokens use case

• In-app payments
• Offline payments
• P2P-transfer
• P2P and crowd lending

Also having the ability to pay for YayFon main products suted for business, like Call Button and/or Cloud PBX (release date March 1).

Yayproto Blockchain

The YayProto Blockchain is a pleasing record of state changes made by authorized and hub-placed stocks and manages thousands or a large number of exchanges every second. This is achieved by executing contracts on the client and confirming their returns by 90% when calculating each new square. The blockchain does not have to store a complete history of all exchanges since each executing artist in charge of the execution can store them in the page chains

• End-to-end Encryption (ECC)

This type of encryption ensures that the data is transferred securely between endpoints. Most end-to-end encryption protocols include some form of endpoint authentication specifically to prevent MITM attacks. For example, someone could rely on certification authorities or a web of trust. An alternative technique is to generate cryptographic hashes (fingerprints) based on the communicating users’ public keys or the shared secret keys. The parties compare their finger using an outside (out-of band) communication channel that guarantees integrity and authenticity of communication (but not necessarily secrecy), before starting their conversation. If the fingerprints match, there is in theory, no man in the middle.

When it is displayed for human inspection, the fingerprints are usually encoded into hexadecimal strings. These strings are then formatted into groups of characters for readability. In case of YayProto, public keys will be stored in a blockchain and every participant of the network can check the authenticity of the keys, to prevent MiTM-attack.

The FEATURES:

• Built-in Messenger
• Built-In p2p crowd money transfer and lending platform
• Wallet
• Software tools for developers to create unique and stunning products and services to suit daily life of billions of people.

Marketing Plan

Currently, the team plans to support independent developers and developer teams, as well as inviting the traditional telco companies to join the network. Benefits for developers will be to bring user community the best applications and services, and for telcos, to decrease their infrastructure expenses. For this reason, the team is going to organize Developers Conference twice a year, to bring together business and developers and show them the opportunity of this protocol.

TOKEN DETAILS

Token symbol : YFN
Currency accepted: ETH, BTC
Token exchange rate: 1 ETH=7500 YFN 1 BTC=75000 YFH
Amount of tokens per one person: unlimited
Minimum transaction amount: 1 ETH, 0.04 BTC
Maximum transaction amount: unlimited

Token and use of funds

ICO TIMELINE

The YFN tokens are not shares, stakes or securities. They should be treated as utilities, which will allow contributors to get goods and/or services within the platform. Using YFN within a platform is not mandatory and will be based only on the choice of participants.

All tokens will be issued using a smart contract and only during Pre-ICO and ICO events. Maximum amount will be based on the results of PRE and ICO events.

The Organization

All funds from ICO will be credited to newly established YayProto LLC in Switzerland, and YayFon.

Our operational expenses will be funded.

TEAM