TenX| Utilizing the way traders spend their cryptocurrencies (Video included)
Hello everyone, @king-oghie.
Today i'll be showing us a technique TenX applies to eradicate the real world cryptocurrency difficulties. In my last article, I illustrated how the platform operates, the commit network, the platform fees and rewards consecutively. And so today i'll be showing us a simple technique the platform will apply to eradicate the real world cryptocurrency problems and difficulties. Before I proceed, i'll quickly define what TenX is in a nut shell;
TenX is a digital wallet and physical card that you can use to spend cryptocurrency at any store – even if they don’t accept crypto.
Table of contents
- Decentralized security smart contracts (DSS)
- Token supply
- Transparency
- Easy of access
Decentralized security smart contracts (DSS)
Let's not forget the utility of this cryptocurrency card (TenX) in terms of spending our cryptocurrencies wherever Visa and MasterCard are accepted. This could only be made possible with the help of the COMIT network (Cryptographically-secure Off-chain Multi-asset Instant Transaction) which authorize effortless payments and transactions in reality.
Decentralized security smart contract (DSS) is another key attribute of the TenX platform. With the help of DSS, users will effortlessly govern and control the security of their crypto assets, also they can adjust the security settings i.e withdrawal settings, folders outlay and daily limits etc. Not just that, users can effectively set a specific percentage of crypto coins to utilize for transactions, for instance, I literally can adjust every order I make to split, let's say 50% Etheruem, 50% Bitcoin, 50% Litecoin and 50% Dash respectively.
However, since the platform is backed by the COMIT network, it boosts the speed connection for new and existing blockchain simply by using the COMIT Routing Protocol (CRP). The routing protocol is basically an arrangement of standard innovations that truly summaries the communications between other blockchains, equally to the same technique the Internet Protocol (IP) uses.
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The following below are required for any blockchain that yearns to be accordant with the COMIT network;
- Dual-Spend security
- One-time signature
- Atomic swaps
- One-way function
Token supply
As we all know, TenX is a payment platform with reference to their debit card and mobile wallet deferred with cryptocurrencies in it. Presently, ever since the company partnered with MasterCard and Visa, the TenX wallets can be used approximately 200 countries and over 36 million points of acceptance. That's a great accomplishment for the team within this short period of time since inception.
The credit card companies charge the merchants 2% of the transaction amount, similar to other types of credit cards. TenX generates revenue by having a revenue share agreement with its credit card partners. source
However, PAY is only valuable when there are countless number of transaction volumes on TenX. The value of this token has no respect for the usage of the token, rather the value is incubated from the transaction volume. The value of PAY is quite easy to calculate simply because of the technique it uses, unlike other ICOs where the value is tough to evaluate.
Transparency
What you see on TenX is what you get, no secrets, no entanglement and no intricacy. It possess the same transparency just like our local currency. For this reason, the platform holds an annual TenX Transparent Report Q2, 2018
Easy-to-use approach
The platform's goal is to present a mobile wallet for those who trade cryptocurrencies such as Bitcoin. The app can be downloaded from playstore for Android users and on the internet for iOS and Desktop users. Since the card is a prepaid visa, it can be used anywhere MasterCard and Visa are accepted.
Watch the video I did below;
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REFERENCE:
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TenX whitepaper
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