Decentralized, Real-time Credit, Debit, and Crypto Payment Processing Network
What is Graft?
Graft is a global, open-sourced, blockchain-based, decentralized payment gateway and processing platform that anyone can use. Any buyer and merchant can use Graft in a completely decentralized and inexpensive way. Graft ecosystem is open, so anyone can participate by maintaining Graft blockchain and implementing network services. Graft employs payment processing protocols and flows similar to traditional electronic payment systems such as credit, debit, and prepaid cards, which are already familiar to and trusted by millions of users and merchants around the world. This approach enables easier and faster adoption of Graft as a mainstream payment platform, while eliminating the need in centralized intermediaries (payment gateways and processors) currently required to facilitate transactions between buyers and merchants.
Benefits for Buyers (Senders)
No Transaction Fees
Graft transaction fees are always charged to the merchant, just like with traditional credit card payments. Small purchases with cryptocurrency will be finally affordable.
Free Funds Transfers Between Wallets
Neither sender nor receiver pays any fee for limited number of low priority slow funds transfers between wallets.
Universal Mobile Wallet App
The Mobile Wallet user can pay using various cryptocurrencies or credit cards.
The Mobile Wallet user can pay everywhere using traditional debit card associated with multi cryptocurrency wallet.
The Mobile Wallet user can instantly request a crowdfunded “credit line”. No credit history checks.
CryptoNote protocol ensures full untraceability, unlinkability, and fungibility of Graft blockchain, where sender address, recipient address, and transaction amount are cryptographically protected and “invisible”. On top of that, Graft adds “one more thing”: it makes even transaction fees invisible to public view.
Zero Knowledge Proof Identity Verification
Some features such as free transfers or crowdfunded credit require user identification and authentication. Zero knowledge proof technology allows users to authenticate without compromising their privacy.
Benefits for Merchants (Recipients)
Real Time Authorizations (Instant Confirmations)
Transactions are confirmed instantly, within hundreds milliseconds to a few seconds, which enables normal in-store and online checkout process.
Low Transaction Fees
Fees are charged to merchant to increase buyers conversion rates; those fees are symbolic which enables micropayments.
Special Transaction Types and Smart Contracts
Graft Point of Sale apps support multiple transactions types that are unusual for cryptocurrency. For example pre-authorization and capture that are necessary for ticket booking, hotel check-in, or gas station payment. Schedule or Escrow transactions, which are essentially pre-programmed configurable smart contracts, can help businesses set up periodic remittance and subscriptions.
Free Point of Sale App Accepts All Payment Methods
Free Mobile Point of Sale app accepts various cryptocurrencies and credit/debit cards, which eliminates the need to maintain multiple point of sale apps and wallets.
Merchant Payouts in Local Fiat Currency
Transaction are settled in real time and payouts can be received in local local currency.
Buyers can confirm their identity in order to unlock some special transaction types which require age verification, for example.
Benefits for Supernode Owners (Miners)
Supernode owners receive block rewards. Transaction fees are paid for real time authorizations.
Hosting Service Brokers
Supernode owners receive a share of transaction and service fees charged by service brokers
Hash Algorithm: CryptoNight
Block time: 120 seconds
Block Reward: recalculated every block
Difficulty : recalculated every block
Maximum supply: 1,844,674,400
Transaction confirmation: instant
Supernode Proof: PoW + PoS
Authenticated transfer fee: 0
Micropayment fee (less than 10 GRAFT): 0.1% of Tx amount (charged to recipient)
Payment fee (10 GRAFT and more): log1000 (Tx amount) (charged to recipient)