Graft is short for Global Real-time Authorizations and Fund Transfers, but also represents grafting of the new into the old. GRAFT Blockchain is built on the idea that the payment industry can benefit tremendously from the democratization brought forward by the blockchain technology, but only when the right technologies are chosen and combined with the accepted industry workflows and systems.
When done correctly, this transition to blockchain-based payments will lead to radically improved credit/debit payment system through the combination of lower transaction fees, tight privacy controls, low rates on credit balances, built-in loyalty programs, and connected extra services.
GRAFT Payment Processing
Graft payment processing network that functions similarly to a credit card processing network with off-chain authorizations and in-network atomic swap based interchanges. The network is completely decentralized, able to work cross borders and adapts to local regulatory environments. In addition to decentralization, GRAFT solves the four biggest problems that exist in cryptocurrency at a point-of-sale today – privacy, speed, fees, and integration.
Technically, Graft is an advanced blockchain with combination of proof-of-work recording layer and proof-of-stake based authorizations, with participants able to benefit both for mining and staking. GRAFT does not maintain administrative controls of the network – the network is decentralized and open to participants fullfilling various functions, building businesses and revenue opportunities, and adopting GRAFT to local market specifics.
Should Graft Network reach 20% of the Visa transaction volume by year 2030, at 0.5% authorization fee, the merchants stand to save over $100 billion in processing fees and independent supernodes will make over $28 billion per year for providing real-time authorization services to the network.
Why Graft Payment Network
- So that Consumers can stop getting ripped off on credit card fees, interest, and exchange rates
- So that Businesses who can’t get support from traditional payment processors, can finally offer turn-key electronic payments to their clients (and at much better rates)
- So that Merchants can save money with better rates and transition from expensive and clunky loyalty programs to a blockchain-based one
- So that People, not a handful of big banks, can be The Payment Network.
Key features Of Graft
- Uncompromising Privacy at the Core
- Guaranteed super-fast transactions with unlimited TPS
- Service Broker Architecture
- Integration with Existing Point of Sale Systems
GRAFT Wallet provides token management and payment mechanism for the GRAFT Network. Go to App Store or Google play depending on your phone. Search for Graft Wallet app and download it.
Tips for securely storing your Graft
- Do your own research. Before sending any coins or private data to a wallet, make sure you have researched the wallet provider to make sure everything is above board. Keep an eye out for scam wallets, such as those using URLs only slightly different to the URLs of legitimate wallet providers, and check out some independent reviews for all the pros and cons.
- Back it up. Make use of your wallet’s back-up and restore facility so that if something ever goes wrong with your wallet, you’ll be able to recover your funds.
- Set a strong password. Now is not the time to be lazy when creating a password; take your time to create a strong and uncrackable code.
- Make use of all available security features. Make the most of all the security features your wallet offers, such as two-factor authentication or multi-signature transactions. It’ll offer increased protection for your funds and greater peace of mind for you.
- Update your antivirus software. Take care to regularly update the antivirus protection and anti-malware software on any device you will be using to access your wallet.
- Keep your private keys private. Last but not least, don’t underestimate the importance of your private keys. Store them somewhere safe and don’t share them with anyone else.