INTRODUCTION
Cryptographic tokens and cryptocurrency undoubtedly became what they world needed to solve real life issues as regards payment in businesses and other areas.
However, it had so many limitations that made it unable to completely eliminate traditional payment methods. I believe the revolution the crpto world is bringing is not just for supplementation, but for domination, but it cannot dominate the business world, health sector, aviation, academic sector without showing its true worth, worth that the traditional means of payment cannot offer
As a crpto enthusiast, I look out for technologies that offer solutions the others can not offer, the high point of every business venture lies in its ability to gather as many customers it can, while in synergy, also retain the ones it has already.
SOME OF THE PROBLEMS SEEN IN OTHER CRYPTOGRAPHIC TOKENS AND TRADITIONAL MEANS OF PAYMENT
UNBALANCED AND UNPREDICATBLE TRANSACTION FEES
Who would ever want to buy a product and spend twice the cost of the product? The high cost of transaction fees by cryptographic tokens and other traditional means of payment is just outrageous and uninviting. In as much as transaction fees generate money for the owners, but the cost and nature surrounding these payments is enough to scare.
Charges have become a problem in both bitcoin and cryptographic tokens, fees are not charged accordingly. In some of these tokens, buyers pay to the cryptographic network, while the merchant pays to the payment processor, this has made buyers become confused as regards this issue and this has made cryptographic payments unattractive.
Here are some reasons why other cryptographic tokens cannot afford free transactions
- Threat of distributed denial-of-service (DDoS) attacks
- Lack of incentive for miners
- Uncontrolled growth of blockchain
LONG CONFIRMATION TIMES
Most cryptographic tokens take very long times before their transactions are completed, this has caused low adoption of the blockchain technology. Imagine waiting for hours before you successfully complete a transaction, how annoying it can be. Customers frown at the forever time it takes for transactions to be completed, though many blockchain technologies have tried to solve this but it has not been completely eradicated prior to the develelopment of GRAFT
OTHER PROBLEMS INCLUDE
- Unsuitable payment flows
- Lack of offline transactions support
- Low scalability
- Volatility
- Incomplete security
- Poor usability of end-user interfaces
- Lack of customer support
The list is endless.
Value creation is seen not just in the profit therein, but also in the problem solved. A blockchain technology after seeing numerous challenges encountered above decided to bring back the glory of the blockchain technology, I present to you GRAFT
INTRODUCING GRAFT
Global Real-Time Authorizations and Funds Transfers GRAFT is an innovative blockchain technology that solves the payment issues encountered by other blockchain technologies and traditional payment system. It is a decentralized payment gateway that processes payments real fast.
It is a global, open-sourced, blockchain-based, decentralized payment gateway and processing platform that anyone can participate by maintaining the GRAFT blockchain and implementing network services.
Anyone can use the GRAFT blockchain, buyers and sellers can use it in a completely decentralized and inexpensive way
It utilizes the point of sale system, where accumulated crypto assets from investments, work and playing games can be used to purchase goods and services.
The interest rates encountered in the GRAFT blockchain are much lower due to the p2p lending through the network. Foreign transactions fees are being waved and the stress of exchanging between fiats is all but forgotten.
Moreso, the GRAFT payment processing protocol and flows is similar to that seen in traditional elcectronic payment, this will make for faster adoption and use.
AMAZING FEATURES OF GRAFT
FAST TRANSACTION PROCESSING THROUGH USE OF REAL-TIME AUTHORIZATIONS
Like I mentioned earlier, it takes quite sometime for transactions done in other blockchain technologies to be complete. GRAFT has introduced a real-time authorization process that completes transactions in not more than 3 seconds.
This fast transaction process is made possible by the use of supernodes, that have the ability to perform a distributed instant authorization lock on a buyer’s account and communicate a response back to the client, typically within milliseconds.
Transaction fees are paid by the receiver (merchant) to the supernodes participating in the authorization sample and (optional) service brokers participating in transaction processing. The owners of the supernodes are responsible for any transactions they process. Such responsibility is achieved by financial interest (transaction fees).
The supernodes also maintain the GRAFT blockchain so no transactions can be authorized wrongly.
HIGHLY SCALABLE
Scalability is the ability of processing many transactions at the same time without deterioration or degradation of performance. Transactions done per second time is a real measure of the Scalabilty.
One important feature of blockchain technologies is their scalability; most of them are not as scalable as they claim anyways.
But GRAFT utilizes high performance supernodes that validate and authorize transactions in real time.
The supernodes usually keep a list of pending authorization requests and completed transactions until they are seen and added to the blockchain.
Such architecture allows for the absorbing of large spikes of associated requests (for example, seasonal, events driven, and other changes in buyers and merchants activities).
LITTLE OR NO TRANSACTION FEE
I mentioned earlier that the fees charged by most blockchain technologies are somewhat exorbitant and have frustrated many customers and users. Why pay more than required for a product? GRAFT has come to the rescue in the transaction fees seen in payments. GRAFT does not allow payers to pay for transaction fees, rather the business owners (merchant or payee) are the ones to pay for them.
You might be wandering how fair this is, but I can tell you also that GRAFT worked this in such a way that the fees paid by the business owners are twice as cheap as ones charged by other blockchain technologies, which makes it better for use and adoption.
RTA based transactions are fixed at 0.5%, while SLA/Services are between 0.25% and 0.75%.
Users are also able to transfer funds (GRFT) for free, between wallets (limited).
Moreso, the transaction fees charged in GRAFT network, are basically used for two reasons
- To avoid network abuse and associated performance as well as blockchain size issues
- To become the only incentive for node operators once the mining bonus becomes too small
OFFLINE TRANSACTION APPROVALS
I worked with a bank last year, one of the challenges we encountered were situations when customers would be debited after using a point-of-sale (POS) machine with their cards, even when they are not physically present.
They initiated the transaction but it got hooked by network and after a Period of time goes through even after the must have removed their cards, this is a type of offline transaction approval or authorization.
The GRAFT merchant point-of-sale app and single relay supernode is able to process cryptographic transactions in downtime cases. The decision about offline approval will be based on buyer’s and supernode’s reputation score.
SECURITY
This blockchain technology guarantees the safety of funds of its users, the ecosystem was designed in such a way that huge amount of transactions can be made without fears. Since there is no direct human to human interaction, safety is assured.
ENHANCED INTER-OPERABILITY
A careful study of the blockchain will expose you to this feauture, funds can be easily transferred between wallets present in the GRAFT blockchain. These funds can then be utilized for payment of goods and services.
IMAGE OUTLINING THE FEATURES OF GRAFT
USE CASE 1
Mr Maxwell is the CEO of Whyte family limited, a private construction company that builds and constructs roads for both the government and other customers. He travels to various countries to close up contracts and initiate better ones for the company. With his busy schedules, he tries to ensure that his clients are being taken care of as regards to payments. But something unusual happened, he was unable to meet up his engagement with the bank that was supposed to disburse fund to Mr Henry who supplies him Cements. He was frustrated at the thought of disappointing his client. Mr Desmond, the Personal assistant suggested he pay him with crypto, he remembered he is on the GRAFT blockchain. But then, how would he know if Mr Henry is a crypto enthusiast? A call across to Mr Henry came out positive and within 5 seconds, he paid his debt
USE CASE 2
Mr Kelechi took his girlfriend out for shopping in a mall, the lady was busy enjoying the sight of beautiful clothings, shoes and bags without knowing Mr Kelechi forgot his credit card. After picking all they wanted, they headed to make payment, only for him to be disappointed. He was with his mobile phone and enquired if they accept payment in Crypto. Yes was the heart reassuring answer he received and within seconds, he cleared his debt and they two love birds made their exit from the mall.
GRAFT CryptoFind App
An amazing App was developed to allow users easy access to locations that accept crypto, it also allows merchants to update their profile and status which will intermittently make for ease in users finding these stores
GRAFT CryptoFind for iOS
GRAFT CryptoFind for Android
GRAFT Mobile POS
The mobile POS easily allows merchants to accept crptocurrencies, it also is a solution for iOS and Andrid users
GRAFT Mobile POS for iOS
GRAFT Mobile POS for Android
CONCLUSION
With scalability, transaction fees and time being solved, adoption of GRAFT will be fast and easy. More value creation ensures for rapid utilization.
Just imagine your transaction going through in less than three (3) seconds, isn’t it amazing? Steem processes transactions in seconds, so it is nice seeing something like the GRAFT blockchain. The future of the crypto world is in safe hands
No one needs to be afraid of being scammed or cheated on, this is because real authorization and authentication of users will be done before approval of use.
Finally, the blockchain can finally rejoice as regards to this breakthrough, this is because the misconceptions seen in many of the features of blockchain have been resolved. I am pretty certain that an influx of customers will be witnessed.
Investors will surely step in to fully maximize the wealth of benefits present in this platform.
MEET THE TEAM
PARTNERS
ROAD MAP
INTRODUCTORY VIDEOS
MORE INFORMATION AND RESOURCES
GRAFT WEBSITE
GRAFT WhitePaper
GRAFT's Twitter
GRAFT's BitCoinTalk
GRAFT on Facebook
GRAFT on Reddit
GRAFT on YouTube
GRAFT on Medium
This is my entry to the 
All images were sourced from
GRAFT WEBSITE and GRAFT WhitePaper
TWITTER LINK
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