This article is part of a series on the highly innovative PascalCoin ($PASC), a cryptocurrency written entirely in the Pascal programming language.
As mentioned in our previous article , thanks to the Safebox model, PascalCoin can achieve infinite scalability; but the innovative cryptocurrency can also accomplish a multitude of features that standard blockchains cannot. An imperative feature that sets PascalCoin apart from the Bitcoin standard is the payload hash function that can be applied to operations on the chain.
Monetized API Using Payload Hash
A real-world use case of the payload functionality in PascalCoin is the ability to implement Monetized APIs (Application programmed interface). By only using a single Pascal Account (‘PASA’), a business can route transactions and store information on different customers and jobs by payload hash. An example of this is the Pascal Account Market at http://getpasa.com which allows a user to purchase an account number by providing a public key to the website. By sending a small amount of PASC to a unique payload based on their public key, an account number will be sent immediately to the purchaser’s wallet. At operation time, Getpasa automatically re-assigns the account number ownership to the purchaser’s public key, therefore transferring the account. Due to the powerful customization of payload hashes, applications can set up a subscription-based payment system that gives a user a unique subscription tier depending on which payload hash they include when sending PASC to it. They could then receive a code to activate the subscription immediately after payment.
Bank Accounts
If a company or user wanted to set up a secure account management system for PascalCoin, they can easily do so through only one account. For every user that signs up or registers with the system, they can be issued a unique Payload hash (just like banking routing numbers) to send to the Pascal Bank. After the first transaction, the Pascal bank would then be able to credit the newly registered user’s account balance with the deposited Pascal. Then whenever an individual wanted to deposit more funds to the account, they would simple re-use the payload hash in order to route the PASC to their personal account. In fact, a well-known cryptocurrency exchange has already put this method into practice. Poloniex Exchange uses a bank-like system with PascalCoin to route new incoming deposits to exchange accounts based on the payload hash. With only one account, Poloniex is able to facilitate the transfer of Pascalcoin internally and externally by use of payloads. With this model, many other cryptocurrency exchanges can easily set up and manage PascalCoin trading, deposits, and withdrawals with only one account number. Instead of generating a new address per user, the exchange simply would generate a unique payload when requested. Because Pascal also supports over 100 transactions a second, millions of users could deposit to only one exchange wallet simultaneously without lag.
User-end Custom Payloads
Yet another use case with the payload function in PascalCoin is the ability for users to include data inside a payload. This can be used for various functions, but an important one to touch on is a user’s ability to include personal and wallet information in operations. Real-world use cases include scenarios where a student could submit a series of responses to a test embedded into a payload and receive a grade back instantly based on what answers they submitted. Users can also participate in lotteries and giveaways by embedding account or shipping information into a payload they submit to the event. Anonymous mixers can even come into play that mix PascalCoins, and then send the coins to an account number specified within the hash submitted. Using a mixer such as this, a user can easily cycle their coins instantaneously thanks to the speed of the blockchain. With the allowance of customizable payloads, users can even interact with exchanges, know-your-customer systems, and other various applications.Thanks to Pascal’s powerful ability to include payload hashes in every single operation, PascalCoin can perform more advanced operations than a standard blockchain. From banking applications to giveaways, the Payload feature allows every user to send and receive specific data with every operation. This is only one of the many extraordinary features that PascalCoin has available.
For more information and how to get PascalCoin, visit http://pascalcoin.org
Official LinksDiscord: https://discord.gg/8yqftqF
Telegram official channel: https://t.me/pascalcoinofficial
Twitter official account: https://twitter.com/PascalCoin
Reddit: www.reddit.com/r/pascalcoin/
Medium -PascalCoin: www.medium.com/@pascalcoinmktg