MenaPay is being use on the Ethereum platform using ERC-20 technology which is general, easy-to-use and among the biggest and widespread blockchain platform on earth. Ethereum has the most extensive use utility token. All activities are held much faster than in the supposed banking system by the blockchain technology, either it is stock exchange or transaction between two dynamics. A decentralized network of the computer with two basic function is called Ethereum. This functions as a blockchain that can record transactions, and virtual machine which is able to create a smart contract. Because of these two functions, Ethereum can support decentralized application (DApps). This applications are built on an existing Ethereum blockchain, piggybacking off it's implicit technology. In reward Ethereum entrust developers for the computing power in their network. Which is only been paid in Ether, the only inter-platform currency. Pending on the purpose, DAPPs can create ERC-20 token to work as a currency.for point in a loyalty program, a share in company or proof of ownership, an amount of gold or deed to a house. A smart contract is viewed as a computer protocol on the blockchain that technically orders the project. To our use, smart contracts are the rigid agreement on which transactions are approved in order with the rules written in them. They are accountable for the independent ruling of the system. Smart contract fundamentally work as objective escrow mechanisms.
Ever since smart contract can be written to explain rules for token uses and for decision making processes,a main authority is disintermediated.
TECHNICAL ASPECTS OF MENACASH
Personal blockchain: MenaChain
MenaChain is a blockchain fashioned to build MenaPay's scalable payment system. MenaCash is the default and also the crypt currency of MenaChain. MenaCash is a stable coin supported by USD. All MenaCash created will be supported, where one MenaCash is to One USD. MenaChain is built to support more than 100s of TPS initially, but still developing to support upto thousands in coming years. Time taking in completions of transactions is measured in seconds; not in minutes, hours or days.
MenaChain is border less and also decentralized. On this platform we have no leaders or miners, coordinator with unique influence towards consensus. Everyone is equal. MenaChain platform started with a small number of nodes during the initial stages. Then it expanded to nodes run by verify organizations that meet fundamental requirement for bandwidth, storage and CPU. The real-life identities of all participants are not hidden. They participants in this platform have common goal, which is to do business together, but do not really trust or like each other. That is why, revealing the identities of participants let's the authorized blockchain to work with the well-studied BFT (Byzantine Fault Torrance) like consensus algorithms. The system is protected by both legal agreement and consensus bounaries which enable system will run smoothly when two over three of the nodes are honesnaChain is built as a personal blockchain platform. Which hides receiver, sender address even the amount being Tranferred from one seller to another on the chain. MenaChain backs multisig wallets for its follow users.
RELATED LINKS;
Website: http://www.menapay.io
Whitepaper: https://menapay.docsend.com/view/pwjr8rt
Bitcointalk Ann. Thread: https://bitcointalk.org/index.php?topic=4884588.0
Telegram: https://t.me/MenaPay
WRITER'S INFO
Bitcointalk username: Cadito4545
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=2514023;sa=summary