GRAFT, which is a real-time payment blockchain technology, has introduced the first installation of an exchange broker. This component of the ecosystem would allow users to make payments with any form of cryptocurrency or digital asset, while the receivers of the payment would receive funds in the currency of their choice.
This blockchain powered exchange broker technology would run on GRAFT blockchain two-layer network to be able to transact in real time. The new feature is one of the most critical components of the broker blockchain. The real-time transaction is made possible by using instant off-chain authorization. It integrates with the existing payment terminals, and fix them onto the blockchain platform. All this is done with utmost privacy.
Apart from the blockchain based pay-in-broker, GRAFT Network has something more to offer. The GRAFT network has released a demo version of the application that successfully imitates the process. This process is made run on a real payment terminal. It is done by integrating Verifone. Verifone is one of the biggest POS producers in the world.
The idea behind GRAFT is that the blockchain technology will bring benefit to the payment sector by integrating factor of democratization. However, this is possible only when the right technologies are integrated with the mutually accepted workflows and systems. In addition to the facility of decentralization, GRAFT helps in dealing with four more problems such as integration, privacy, along with speed, and fees.
The exchange broker developed by GRAFT provides support for every cryptocurrency that interests to both the parties of the transactions. The exchange broker function of the system does the trade of currencies in real time, and at a price, both parties of the transaction agree on. It supports real-time interchanges.
About The GRAFT Network:
GRAFT Network which is a short form of Global Real-time Authorizations and Funds Transfers Network facilitates a payment system similar to the one provided by credit cards. It is one of the top online brokers. It does this with the help of a decentralized, open source network built onto a dedicated blockchain technology/platform. GRAFT benefits from the smart sale terminals which facilitate point-of-sale cryptocurrency transactions, in the real-time.
Having created a dedicated open source, and a decentralized system has benefited the GRAFT Network. It uses these principles to the payment processes.