KRYPTOPAL –INSTANT ACCESS TO GROUND-BREAKING BLOCKCHAIN TECHNOLOGIES

Even though there has been a wide spread acceptance and enthusiasm for blockchain and cryptocurrency, there lies certain barriers that stop it from being accepted into everyday lives due to issues such as new technology, lack of documentation, infrastructure, and development tools. In addition to the existing problems, it restricts people from performing real-time transactions like they are currently accustomed to.

The KryptoPal platform is here to solve the issues mentioned earlier. Their platform integrates with any existing application via their SDK thereby helping people from anywhere interact with each other to perform cryptocurrency related transactions.

The Ecosystem
The primary aim of the Kryptopal ecosystem is to bridge the gap between businesses, applications, consumers and the emerging world of blockchain technology and decentralized applications. They help merge most applications such as wallets, remittance services, payment networks, eCommerce, gaming, banking systems, etc for the users.
They handle the problems that restrict users for the wide adoption of blockchain and cryptocurrency technology. They also take care of Every Unique Overhead Requirement for global, local and decentralized endpoints whose main purpose is to communicate with multiple blockchains.

How does the platform work?
They integrate abstracts blockchain functions into easy to understand and use API endpoints wrapped in different SDKs which provides the end users with familiarity of use. This hence, allows them to focus on their application’s core offering thereby avoiding the time and effort spent on significant overhead and technical intricacies. Some of the important functionalities is that all of the KrytoPal API endpoints can be leveraged individually, and will handle and take care of all the API’s for the users.

They also have another functionality that helps solve latency problems. They have created the μKPX state channels to enable real-time blockchain transactions and functionalities where any user can open it seamlessly . This μKPX state channel helps channelize the secure transfer of tokens within a state channel without the overhead of Proof-of-Work. They use hash-locked transfers, which are a part of on-chain deposits. Since these transactions happens off chain, participants must deposit tokens directly on-chain and use their KPX on smart contracts. Only then the payment channel is created.

The KryptoX token
The token provides users with access to premium API features and integrate the application with mainstream applications worldwide. They help facilitate real time micropayment channels with zero fees and reward users with tokens .
The token transactions happen on-chain in the Ethereum blockchain. The blockchain based functionality allow the users to register and provides permission for their identities. Alternatively and more securely, users may register their identity within a “User Identity registry” smart contract.

Conclusion
Overall, they aim to solve the issues relating to any form of transaction of fiat currency or cryptocurrency with anyone across the globe. They help with the simple and seamless integration of cryptocurrency/ blockchain technology using their SDK for this process of transition. They are in the process of building a revolutionary platform Do visit their website for more details.

Website - https://kryptopal.io/

Whitepaper - https://kryptopal.io/wp-content/uploads/2018/04/Whitepaper.pdf

ANN - https://bitcointalk.org/index.php?topic=4417025.msg39393020#msg39393020

Telegram - https://t.me/kryptopal

Published by - Pooja Jur

Btalk profile - https://bitcointalk.org/index.php?action=profile;u=1217469