GRAFT Releases Pay-in Exchange Broker for a Decentralized Payment Network
GRAFT released an exchange broker – a component of the GRAFT Network eco-system that allows users to pay with any currency they wish, while the merchant can receive payment in the currency of their choice.
GRAFT’s Pay-in Exchange Broker is the first version of the exchange broker, facilitating a scenario where the merchant or merchant service provider performs the accept, exchange, and payout functions. (Future versions of the broker and other components will become further decentralized and separate those functions among other participants in the network)
The broker can run on GRAFT Real-time Authorizations (RTA) Testnet and comes with a nice demo application emulating a POS/terminal accepting BTC and ETH for payment. See the blog post and a link to GitHub here.
GRAFT service broker architecture and pay-in broker element, in particular, allows anyone to become a small exchange and lend their services directly to the merchant to the network at large. The concept scales well to support any currency or digital asset that might be of interest to the transacting side. GRFT coins serve as a transmission token in the network, facilitating both the real-time decentralized exchanges and staking requirements for the network validators.
About The GRAFT Network
GRAFT (Global Real-time Authorizations and Funds Transfers) enables a credit card-like payment system for many digital assets through a decentralized, open-source network layered over a dedicated blockchain. GRAFT leverages existing point of sale smart terminals to enable point-of-sale cryptocurrency transactions where merchants can immediately have the tender of their choice brokered and deposited in real-time. This is accomplished through the open-source GRAFT Network, which is completely decentralized by design and enables virtually anyone to become a participant and beneficiary stakeholder in GRAFT’s blockchain-based processing network.
Real-time authorizations and brokering occur thanks to operators’ community, each receiving rewards for their particular services to the network. The GRAFT Network is dedicated to applying decentralization principles conceived and implemented by seminal cryptocurrency blockchains like Bitcoin to the payment processing space where innovation and decentralization have a great value technologically and from socio-economic perspectives.
For more information on GRAFT and its decentralized point of sale blockchain technology, please visit the Website.