Graft Merchant Mobile App & Crypto POS System

Cryptocurrencies are bought and traded by the most part on exchanges apart from some cryptocurrency ATMs and P2P services. These platforms seem logical to people who are crypto enthusiast but for people who have never used cryptocurrency it is hard for them to understand why they would ever want cryptocurrency.

There is also the fact that people do not want to take time out of their lives to set up a crypto wallet, sign up for an exchange, wait days for their banks to transfer money into the exchange, or go trough the P2P approval process. People want things done fast and easily.

Graft aims to make spending cryptocurrency easy for purchasing something as simple as bag of chips. Graft has built software that can be implemented not just on smartphones but on current Verifone & Ingenico POS systems.

Graft aims to open the cryptocurrency market to everyday people using their innovative solution. With Graft people will be able to spend cryptocurrency just like traditional currency.

Verifone Terminal

Ingenico Terminal

Integrating cryptocurrency into POS systems will change the way people see cryptocurrency. Cryptocurrency will no longer be only seen as an investment on future technology but will be considered a technology that has been proven to be useful in real world applications. Simplifying the way cryptocurrency is used will increase its usage in everyday situations.

I downloaded the merchant app and it is very simple to use.

• You can add products with descriptions
• You can price the product
• There is no limit to how many products can be added
• You are able to withdraw funds into your Chase account or to your Paypal

Elimination of Volatility
Cryptocurrency price constantly fluctuate which might have a negative affect on the profits of a merchant. These market fluctuations can effect merchants ability to pay employees, bills, and purchase more inventory. Market volatility is highly risky for any business. The Graft network implements real-time transaction settlements system instantly guaranteeing the merchants profits. The app can automatically exchange any cryptocurrency to the countries local fiat currency.

Cryptocurrency Wallets vs Graft Crypto/Fiat Wallet
Cryptocurrency wallets can be used for transactions but you can not build a list of your inventory or have the option of exchanging your funds into fiat to deposit it into your bank account. There is also the cost associated with processing transactions which can be costly at times of high traffic. Bitcoin and Ethereum have some of the highest cost around since they often have high traffic. The fee also must be paid by the buyer. With Graft the merchant pays all the fees which is a great incentive for customers.

Customer Support
People are hesitant to use cryptocurrency since there is no customer support to answer questions or if anything goes wrong with the transaction. There is no assistance for when fraud takes place, human error, or system glitches. The Graft Foundation provides merchants customer assistance 24/7 if their transaction rate is high. Graft app users also have access to customer support. Approved purchase disputes are insured up to 100 dollars by the Graft Foundation or the service broker.

GRAFT Blockchain Transaction Fees

Biometric & Multifactor Authentication
A variety of authentication ID elements will be used such as a hardware token, face recognition, iris scanning, palm scan, device attributes, log in patterns, and network usage. The user will choose two authentication methods from these options to keep their account secure.

Offline Transactions
One always hopes that the network is up and running 24/7 in order to have a smooth business days. Do to things that are out of our control sometimes the network may be momentarily down. If the person has an excellent Graft reputation they will be able to process their transaction while the POS or app is disconnected from the network. The merchant can choose to process an offline transaction locally do their is only so much risk that the system will allow the merchant to take before it stops issuing local approvals. Once the limit is reached the system will freeze & wait till it is reconnected to the network before processing anymore transactions.

A Graft node can be downloaded and ran by anyone making it fully decentralized!

Node Link: https://github.com/graft-project/GraftNetwork

Transaction Processing Speeds
Normally when using some cryptocurrencies the time it takes to process the transaction can be from hours to minutes. This can be frustrating not only for customers but for merchants as well. This has made it difficult for people that would like to adopt cryptocurrency to do so. Graft has created a network in which transactions can take place within 3 seconds.

The transaction speed is achieved thanks to Supernodes that are highly trusted called Authorization Sample which communicate with the customers account and performs an authorization lock then informs the merchant if the payment method is approved. The Authorization Sample approves the transaction then the Supernodes settle it and broadcast it to the blockchain.

Types of Nodes & Tokens

• Supernode - A Supernode processes all Graft transactions being Debit/Credit, cryptocurrency, and merchant payouts in local currency. The Supernode does this using the POW/POS algorithm. A collection of Supernodes work together to secure the network from double spending.

• Authorization Sample Supernode - Selected nodes that prevent customers from double spending before the transaction is written into the blockchain. 50,000 Graft is needed to be kept in the wallet at all times to run this node.

• Proxy Supernode - This is an entry level node that has no mining capabilities. It can be used to host a private wallet server or as a merchant server in order to keep data in house and increase transaction processing speeds. Also communicates between the POS and the customers wallet and with the Authorization Sample Supernode.

• Private Supernode - A merchant or Graft wallet user can choose their own trusted Supernode to process all transactions.

• Service Broker - A protocol that is hosted by a Supernode(s) network in order to process Debit Cards, Credit Card, Bank transactions and identity verification for credit lines.

• VChain - This is used to connect multiple stores to the main private merchant account. This makes it far easier for merchant to track productivity. Also the merchant can create tokens, smart contracts with specifics on pay out rules, authorizations, and triggers that affect transactions.

• Merchant Token - A merchant can create various tokens such as store credits, loyalty rewards, gift certificates, discount coupons and more.

Proof of Stake Requirements for Supernodes
50,000 Graft - Tier 1
90,000 Graft - Tier 2
150,000 Graft - Tier 3
250,000 Graft - Tier 4

Eight Supernodes are randomly selected each Tier level uses this algorithm which randomly selects Supernodes to process network transactions. Do Tier 4 operators will have a higher likelihood of being chosen more often by the network do to the lower amount of Tier 4 Supernodes. When a Supernode is absent from the network lower Tier levels are selected as substitutions if higher level Tiers are absent.

Delegated Stake
Multiple wallets can also join together in order to have enough Graft to run a Supernode. This is Delegated Stake and the earnings are distributed based on how much has been invested by the individual. There is a minimum requirement of 5,000 Graft.

The Graft network is secured by miners as any other cryptocurrency. Graft is secured using the hashing algorithm CryptoNightV7. CryptoNightV7 is one of the most privacy oriented algorithms in the world. Anyone wanting to mine Graft can follow the Mining Guide(https://www.graft.network/mining-guide/#).

With Graft wallet people will be able to spend their money anywhere around the world with any merchant that is listed on the Graft CryptoFind App. Graft CryptoFind does not only list Graft merchants but anyone that excepts cryptocurrency. The app is highly interactive and gives the user the ability to update merchant status. If someone finds a merchant that is excepting cryptocurrency but is not listed they simply add them to the app. When you add a merchant that is excepting cryptocurrency you receive a 100 Graft reward.

Graft CryptoFind users can sign up multiple merchants for rewards. If a merchant is interested in Graft and is verified then listed on the app with the Graft Coming Soon icon the person who on boarded them will receive a reward of 100 Graft.

When the merchant receives their Graft Coming Soon window cling and places it on their store entryway all the app user has to do is take a photo of it and upload it to receive a 300 Graft reward.

Once the merchant is ready to accept cryptocurrency via POS or with the merchant app the status of the merchant will be updated to Accepting All Cryptos to Graft and the Graft CryptoFind user will be rewarded 500 Graft. For those that sign up multiple merchants there are a number of bonuses depending on how many merchants start using Graft.

Decentralized Crowdfunded Credit Cards
Whoever has a Graft wallet is able to issue a credit line in order to profit from credit fees. Additionally credit providers will receive a share of every fee that is applied to transaction that are done by credit line customers. Credit service providers are protected by verification brokers who verify the individuals identity and common rules that are designed to mitigating risk in order to create a safe business environment.

Another security measure is an assigned reputation score based on the credit consumers payment history of their debt, and the amount of identification provided by the cardholder. Repaying debt on time also raises the credit card holders reputation. An increased reputation score increases their credit line.

Social Media
https://steemit.com/@graft
https://t.me/joinchat/EneBw0RALAOjkSL2mdt2Gw
https://www.reddit.com/r/Graft/
https://www.linkedin.com/m/login/
https://twitter.com/graftnetwork
https://www.facebook.com/Graft-460292407666720/
https://bitcointalk.org/index.php?topic=2115188
https://medium.com/@graftnetwork
https://www.instagram.com/graftnetwork/
https://www.youtube.com/channel/UCoMSpYdhQDDhhRcyilyyqtw

Conclusion
Bitcoin redefined what money and banking is by giving people full control over their finances. Since Bitcoin was created there have been various cryptocurrencies that have been created. These various cryptocurrencies all do progressive have limitations from transaction speeds, to the lack of customer assistance.

Crypto is an innovation that has created a new market yet to be fully taped. Cryptocurrency one day will be more than just a store of value but a fully excepted payment method. Graft integrating cryptocurrency into payment systems is a good step in the right direction towards full scale adoption.

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https://steemit.com/crypto/@originalworks/680-steem-sponsored-writing-contest-graft

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