In the modern era, people mostly use online banking for paying money to purchase goods and services. Traditional currencies are available in the countries for managing their daily transactions within their own market and people use them for performing their daily transactions. But, there are several problems incorporated with the payment done by traditional currencies. First of all, whenever you need to make an overseas payment or you ought to retrieve foreign currency in exchange of country’s own traditional currency then numerous paperwork and legal procedure have to done and followed to make the transactions possible. As a result, the transaction procedure slows and the people have to suffer from numerous documents related complexities for completing their daily transactions, which they ought to do with overseas. For overseas transactions, the best option is to use a digital currency which is created using cryptography or in one-word cryptocurrencies. Cryptocurrency is the digital currency with real value in the market. Using this currency people now can transact easily and efficiently ever than before. This is a liquidity which has transformed the traditional financial structure into a digital one and has created numerous opportunities for businesses. But, it is a matter of grief that, though this currency is offering so many financial opportunities for the business organizations, still it is not been accepted commonly by everyone. The reason behind this, people still cannot use cryptocurrency for their daily transactions. That is why people cannot become loyal towards cryptocurrency and they have doubt whether this currency can do any actual good for simplifying their daily transactions. This is where the ENTRY has emerged. This is a platform where cryptocurrency will get real-value and will make daily transactions possible through it. Through this platform, people are about to get the chance to perform their daily transactions easily and more profitably using cryptocurrencies while enjoying the facilities of traditional banking.
In this article, I am going to present ENTRY platform and its features through which this platform is will make daily usage of cryptocurrency possible for the people all over the world.
PLATFORM ARCHITECTURE
ENTRY platform is designed for providing banking facilities aggregating cryptocurrency and FIAT based transactions into one single ecosystem. This platform is unique because this is the first of its kind where both crypto banking and traditional banking are merged into one banking system. By merging two types of banking system it is providing both crypto and FIAT based payment facilities which are very helpful for the growth of the global financial market. ENTRY platform’s architecture is specially made for providing such services effectively and through a secure network mechanism. The platform is structured with the cutting edge technologies of the modern science and utilizing them to fulfill the objectives of the ENTRY project. ENTRY is using the following technologies for creating combined banking system for making cryptocurrency a regular currency,
• Blockchain
• Smart Contract
• Cryptocurrency
• API
Blockchain: Blockchain technology enables the platform to be a completely secure decentralized ecosystem for financial transaction by FIAT and cryptocurrency. This technology has made the database unhackable and divides the network into decentralized nodes or blocks. The blocks are completely protected as they contain encrypted data and cannot be accessed by the third party. With the help of blockchain, the ENTRY has made it possible to make crypto-payment universal for all.
Smart Contract: Smart contract is the system where all contract is executed in an automated manner. As all the contracts of the smart contract are pre-set and self-executable, so there is no need to set contract details manually. By using this technology along with blockchain the ENTRY platform can process financial contracts with ease and at with speed.
Cryptocurrency: In the ENTRY platform the cryptocurrency ENTRY is the liquidity for managing service payments. ENTRY tokens can be used as side currencies in smart wallets and can be used for a transaction within the ENTRY platform. This token is used as smart currency and can be exchangeable with other cryptocurrencies and FIATs.
API: API or Application Programming Interface is essential to execute programs within the platform. Using API the platform can successfully execute its programs and run its application for providing crypto banking facility with a single decentralized system.
KEY FEATURES
The ENTRY platform offers some key features which are supporting the cause of ENTRY project. Utilizing the key features the platform is going to ensure cryptocurrency can be used for the daily transaction. Key features of the platform are as follows,
• ENTRY. CASH
• ENTRY. NETWORK
• ENTRY. BANK
• ENTRY.MONEY
• ENTRY.EXCHANGE
ENTRY. CASH: This is the feature where cash machine/ ATM service is available. Using this feature one can transfer money, cash out in FIAT or top up the balance in case of urgency. In the later stages, payment cards will also be added for creating traditional banking environment in the cryptocurrency based ecosystem.
ENTRY. NETWORK: Includes the custom blockchain, smart contracts, digital wallet, source code, and a platform for custom token creation.
ENTRY. BANK: Using this feature platform user can do hassle-free, easy cross-border transaction.
ENTRY.MONEY: This one is for providing a gateway for e-shops through which cryptocurrency and FIAT payments can be done with ease.
ENTRY.EXCHANGE: This feature provides a centralized exchange facility for cryptocurrency exchange through an extremely fast P2P exchange gateway.
For more details about ENTRY platform please visit, https://entry.money/, or, you can read their detailed whitepaper from, https://entry.money/ENTRY_Whitepaper_v1.pdf.
FINANCIAL STRUCTURE
The financial structure of ENTRY is mainly based on cryptocurrency. In this platform, ENTRY token is used for payment mechanism. This token is created using Ethereum platform and with the ERC20 standard. Using ENTRY token system users can do their financial transaction with platforms own cost-effective cryptocurrency. As this cryptocurrency can also be used as side currency in the e-wallets so if you wish you can use them for purchasing goods or services from e-shops.
ENTRY token mechanism is simple, users use ENTRY platform. They start using platform facilities and in exchange, they pay service fees with ENTRY tokens through smart contract system of the platform ecosystem. Thus the token flow will remain stable on the platform and its value will remain protected.
CONCLUSION
The traditional banking system has now become obsolete. The FIAT and local currencies are no longer able to provide effective financial support for the world. It is time to switch to a cryptocurrency based economy where all the financial transactions can be done freely. To make this possible the contribution of ENTRY platform cannot be denied. ENTRY is the future of the world financial transaction. This is a decentralized system with extraordinary facilities which will undoubtedly change the future of the global economy. The team is still working on the improvement of this platform. As soon as all improvements will be done I am sure it will be able to help millions of people to acquire the power to use cryptocurrency for their daily transactions.
Support ENTRY and be a proud contributor to this project. I hope you will not be a loser.
For registering for contribution please visit, https://tokensale.entry.money/auth/register.
Look At These Links For More Information:
• Company Website: https://entry.money/
• Facebook Page Link: https://www.facebook.com/entrymoney/
• Linkedin Profile Link: https://www.linkedin.com/company/entry-money/
• Telegram Group: https://t.me/Entry_Official
• Skype Chat Link: https://join.skype.com/f0xXiKeDYngh
• Whatsapp Chat Link: https://chat.whatsapp.com/BUkzyIMqew3Gx7G40HVa70
• Whitepaper Link: https://entry.money/ENTRY_Whitepaper_v1.pdf
• Bitcointalk ANN Thread: https://bitcointalk.org/index.php?topic=3229958.0
• Twitter Pages: https://twitter.com/EntryMoneyICO
• BitcoinTalk User Name: nwc.computer
• BitcoinTalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=1272506