YayProto Aims to Provide Secure Private Platform for Financial Transaction

Cryptocurrency and blockchain technology is not a stranger anymore in today’s society. From doing a crowdfunding to renting a new apartment and handling financial transaction, everything can be assisted by blockchain technology. Speaking of financial transaction, YayProto is ready to be launched as the next blockchain based platform that will assist people’s financial transaction in this modern world.
What Is YayProto?
YayProto is a new decentralized money transfer platform that is based on blockchain. It is different with the other blockchain based money transfer platform because it is the first decentralized platform that is built in multipurpose binary protocol. Furthermore, the blockchain in this platform is specially developed to be able to handle myriad of financial transactions in a timely fashion, which is exactly what the people need in this digital era.
The developer of this platform has a goal to provide a private and secure platform for money transfer. It also can be an answer and solution for modern financial transactions that highly rely on the complicated and expensive system of traditional banking. YayProto’s main function is definitely P2P money transfer system. However, it also offers plenty of other features. Basically, this platform can be used for every transaction related to Peer 2 Peer system such as lending and exchange.
How It Works
YayProto is a decentralized system. So, unlike conventional banking system, users don’t have to provide their personal data. Furthermore, third party intervention and approval from authority is also not needed. The money transfer system of YayProto adopts the traditional Hawala system, but with a twist that makes it more secure.
When users want to transfer money to their friend, there are two things that they must prepare. Firstly, the users and the people they want to send money to must join YayProto’s platform and have the application installed on their phone. Secondly, the amount of YFN in their balance must at least be the same with the amount of money they want to transfer. The transfer process will involve another participant and there is fee included. However, the fee will not be as expensive as transfer fee in conventional banking system.
Token Details
The token of YayProto is called YFN and it can be used for all financial activities in this platform. Users who help transferring money to the recipient also will receive YFN as the fee. 15% of the token has been distributed to the participants of YayProto’s Pre-ICO which was held between February 1st and February 15th. After the Pre-ICO had been successfully concluded, the ICO was opened on February 20th to March 20th and another 50% of the token was distributed to the participants. Meanwhile, the rest 35% are distributed to the developer team, advisors, marketing community and developers support program.
Conclusion
YayProto is not the first decentralized money transfer platform. But its multipurpose binary protocol really gives more credibility to this new platform. It is very reliable for a peer to peer platform, and most importantly, very secure. The additional features like the wallet, lending system and marketplace also makes it stands out compared to other similar platforms.

Twitter: https://twitter.com/YayProto
Facebook: https://www.facebook.com/YayProto
Telegram: https://t.me/YayProto_ICO
YouTube: https://www.youtube.com/channel/UC17nf13s9jPvcwCKuNjTUsQ
Whitepaper: https://ico.yayfon.com/whitepaper
Website: https://ico.yayfon.com

Author: https://bitcointalk.org/index.php?action=profile;u=897640