"Simple and easy multi crypto wallet built-in app called TransCrypt powered by new Tizer blockchain"

etherium24 (45)in #cryptocurrency • 6 years ago

Lots of concept everyday being introduced into cryptocurrency. But not all have the capacity or perfect sync in what you can call an advancement on the blockchain world. But as I've seen this project being endorsed on the internet, I'm quite amazed with its short details but enticing objective for a certain product called TransCrypt. Based on the statement Ive read, TransCrypt will be a handy messenger app that consists all function of a wallet that can transact cryptocurrency or services that rendered crypto payment.

If you're a person who handle, bank account transactions, payments and services and also a witty person who loves to do trading with cryptocurrencies and currency. Maybe you need TransCrypt to ease difficulty arises from most of flaws in the crypto world such as being hacked, big transaction fee, exchangers, safety, security, and other issues nowadays.

Sounds simple right? Let us dig deeper about the TransCrypt project.
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What is TransCrypt?

TransCrypt is a single window for all ﬁnancial transactions, whether it be transactions with cryptocurrency, purchase of tokens and altcoins, or payment for services - all of this is done in a ﬂash in the interface of your favorite instant messenger. You no longer need to worry about the payment currency – the built-in conversion will automatically exchange the required amount into the currency requested. Thanks to its own blockchain and the Tizer cryptocurrency, TransCrypt transactions will be executed instantaneously and practically free of charge. (Quoted from TransCrypt https://tsrpay.com)

Ive seen similar concept of this, on some project like Status Network and many more but the developer of TransCrypt make it easier and simple for all kind of community. It will be like an app with a usual banking interface to send and received payment for cryptocurrency, fiat currency just like sending instant messages. They will also make a user friendly UI design with Intuitive operations and screens. You dont need an exchanger to trade your favorite altcoins cause they will create a built-in conversions for all crypto and fiat money.

What is special about TransCrypt?

TransCrypt will have TSR tokens under etherium smart contract and an erc20 standard tokens to be conpatible with a lot of wallet as a start, but later on they will undergo a 1:1 swap of token and move to another blockchain called Tizer.

What is Tizer blockchain?

Probably you heard of bitcoin if you're reading this right? Bitcoin as you all know and some first generation blockchains operates and works through PoW (Proof-of-Work) this is the process of confirmation of the work completed which is an expensive and energy-intensive method why? cause to utilize PoW blockchain youre needing an equipment and energy to sustain its development which only give advantage to those miners and restrict a lot of people interested to earn this coin.

Also, there are other projects rely on what you called PoS (Proof-of-Share) which also an alternative method. This process are not requiring expensive equipment and bulk of energy to compute power and let you earn more coins but through what we called staking. With the number of cryptocurrency you hold you'll have an interest of what you stored. Now, there is a new system called PoU ( Proof-of-Use) which Tizer blockhain used. PoU is a confirmation of usage that characterized by means of reward to the users. How? You can earn by having coins which give you interest like PoS with little less usage of expensive equipment since you will only used a mobile device to process it unlike PoW. It is a combination of PoW and PoS but with a minimal transaction costs, high speed, and ultimate proof of decentralization.

Advantage of TransCrypt Platform using Tizer Blockchain

With integration of TransCrypt into tizer blockchain, all operations on its ecosystem will be processed through an intermediate transfer of any available cryptocurrency into Tizer transactional currency including inter-network operations, crypto conversion, and national currencies,. Tizer will be used on apps developed on the basis of TransCrypt’s open API.

How TransCrypt App works?

TransCrypt Mobile app wallet works like a regular wallet with built-in system you can easily purchase and convert cryptocurrency; instantly transact fiat;
payments with any services; peer to peer transaction; and interact with other digital assets with a tip of your finger smoothly.

Open your TransCrypt chat window and select wallet, instantly click send or receive money. If you send cryptocurrency or currency, the receiver will have a confirmation of the transaction made just like sending him an emoji.

Check their whitepaper for detailed explanation or join the beta to actual try their product. https://tsrpay.com/docs/whitepaper.pdf

The people behind TransCrypt Project

Conclusion

Based on abovementioned discussion Transcrypt platform will be a convenient app incorporated on Tizer blockchain which handle cryptocurrency transactions that goes like an instant messenger. one app for all transactions in any currency, built-in instant currency conversion, low entry threshold for small investors, instant transactions within the network, free transactions within the network and low commission.

As of this writing, Transcrypt already have a Beta version, which you can try to send and receive cryptocurrency directly in the messenger app (built-in app), convert fiat currency, and load your wallet through QR-code or from any other wallet. Now available on iOS and Android mobile devices. Later on will integrate as well on MacOS and windows.

For me, TransCrypt app will be one of the best multi crypto wallet due to its unique, easy and secure feature. I like the concept and can be described simply like their statement "SEND AND RECEIVE MONEY like a message"