What is Graft?
Graft means unite, it's is a worldwide, publicly released, blockchain-based, decentralized installment portal and preparing stage that anybody can utilize, it's not limit to crypto currency only like all other ICO. Any purchaser and dealer can utilize Graft in a totally decentralized, that's no one controlling and still it's reasonable way. Graft utilizes customary electronic installment frameworks, for example, credit, cash, and prepaid cards, which are as of now recognizable to and trusted by a huge number of clients. This approach empowers less demanding and quicker appropriation of Graft as a standard payment gateway for purchasers and shippers.
TRANSACTION FEES
One major problem regarding transactions of cryptocurrencies and tokens is the fees charged. Most people feel that fees concerning transactions in cryptocurrency are deducted at the wrong side of the transaction (the sender), which is relatively worse than that of the traditional payment system where both the receiver and sender are both deducted fees. Some cryptos are unable to handle very small payments due to high transaction fees. Imagine paying for a toffee through your crypto wallet and being charged a transaction fee higher than the price of the toffee, unreasonable right? These are some of the reasons micropayments are not supported by certain crypto. However, does that mean small payments are impossible? NO! In the GRAFT "jungle", the person or group making purchase -first of all-does not pay any fee. All fees are placed on the merchant or receiver. Micropayments are also supported on the GRAFT platform. The good news is that such transactions come without a fixed fee component. Although GRAFT also permits limited free transfers or fund transfers between user wallets, Cryptocurrencies -in general- cannot afford the luxury of free transactions due to reasons such as uncontrolled growth of blockchain, threats of distributed denial-of-service (DDoS) attacks, and lack of incentives for miners. GRAFT, on the other hand, has also tackled the listed setbacks. Details on it can be found in the WHITEPAPER.
PAYMENTS WITH ALTERNATIVE METHODS
An interesting feature about GRAFT is that it is compatible with numerous cryptocurrencies, crypto tokens, as well as fiat usually in the form of debit or credit cards through the GRAFT wallet application of the individual making purchase. Banking and exchange fees may be applied in addition to the GRAFT fees, however all those fees are placed on the merchant- and not on the one making payment. Should someone make purchase with an alternative token aside GFRT, or cryptocurrency or fiat, the GRAFT systems instantly changes the respective input into GRFT (GRAFT tokens) in real time and sends it to the merchant. However, the merchant receives the amount in the desire chosen crypto or token or fiat. This system makes business transactions easier, safer, and faster for people in the cryptocurrency ecosystem.
PRIVACY
Privacy is very important to most people and industries. Even though in real life, most people are not much concerned with anonymity when making transactions, it is a very delicate matter for cryptocurrencies and most payment systems in general. For instance, a merchant would require data such as the age for legality issues and zip codes for tax calculations for purchases such alcoholic drinks, cigarettes, and many more. The buyer, on the other hand, may not also like to reveal such information. Hence, in such a hypothetical situation, the transaction cannot take place. In finding the best approach to such issues, GRAFT implanted a digital identity profile -attached to the GRAFT Wallet- which gives the user the ability to share desired information with the other party at the time of the transaction based on the user's permission. Users will be able to share attributes such as home location, age, address, name, etc. The underlying protocol for GRAFT transactions provides a very high degree of privacy when compared to other cryptos such as Bitcoin and other tokens.
What are RTAs Real Time Authorizations?
Paying with Bitcoin means waiting about 30 minutes or 6 blocks for a confirmation that the transaction has cleared. Although long confirmation times are also experienced using other cryptocurrencies. Cryptocurrency is a new field and GRAFT has researched the best approach to achieving RTA.
“GRAFT's RTA will work by implementing a two layer network with supernodes (randomly selected based on stake tiers) confirming and validating transactions and exchanges in real time.”
All in all, this means that merchants can effortlessly integrate cryptocurrency payments onto their existing terminals with added benefits:
1.Half the transaction fees credit cards charge
2.RTA
3.Assurance that customers can find them with CryptoFind App
4.Effortless integration with their existing terminals
5.Reduction in theft due to less cash being on store premises
Goals of Graft:-
The primary objective for making payout token of Graft is giving a simple and dependable path for traders to get paid in stable form of local fiat monetary forms while keeping away from utilization of centralized long installment processors.
Payout token is always backed by sufficient amount of fiat currency, and its price always remains the same thus merchants need not to worry about flotation in crypto market. This system will make graft as reliable. For example, 1000 USDG can be always bought or sold for US$1000 then it will remain 1000 in term of local fiat currency.
Conclusion
Running on its own blockchain sets the GRAFT blockchain project apart from its competitors that are based on the ERC20 tokens. There is full benefits for customer and merchant by Graft. Even miners and nodes are well equipped. Graft utilizes customary electronic installment frameworks, for example, credit, cash, and prepaid cards, which are as of now recognizable to and trusted by a huge number of clients. Graft will going to act as uniting force among cash, credit cards and crypto currency.
User Applications
Graft has launched their mainnet and are fully active. They have also released some mobile applications to ease user adoption.
The Graft mobile wallet allows easy payments with a few clicks.
Graft has released the IOS version as well as Android version.
The mobile wallet is secured using its biometric feature.
Merchants can quickly set up their payment terminal with the Mobile POS. It can be downloaded on your phone and used for streamlined business.
You can download the IOS or Android versions.
So now you have the app. How do you find crypto friendly merchants? Use Graft Cryptofind!
It also comes in IOS and Android versions.
GRAFT TEAM
More information & recommendations:
https://www.graft.network/
This is a submission for the @originalworks contest
graft2018
This post has been submitted for the @OriginalWorks Sponsored Writing Contest!
You can also follow @contestbot to be notified of future contests!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit