What's a payment entry with more cryptocurrency?
It is a decentralized platform focused on payment services. The platform allows users to send and receive payments in different cryptocurrencies. The aim is to develop a service that supports the payment procedure by reducing the number of intermediaries included. It is also planned to increase the routine use of digital currencies on a daily basis.
How does it work?
Using a blockchain ecosystem as a structure, payments are extremely encrypted and therefore much safer and safer than conventional online payment entrances. Facilitates international transactions in different cryptocurrencies between suppliers, distributors, companies and consumers, at a fraction of the cost.
What are smart contracts used for?
Smart contracts are used to negotiate and close payment agreements between transaction celebrations. Once a contract has been developed, the smart contracts will check the accuracy of the payment and accelerate it to the appropriate counterparty. Smart contracts allow a higher degree of automation without the need for human intervention.
How safe is it?
In the same way, intelligent contracts are made available for auditing functions that increase the transparency of the process and add a level of security. Greater security will provide comfort to traders during the transition to a decentralized payment entry and will help them settle down with the platform much faster. First of all, users will feel more comfortable. They also want a payment platform where their payments are not susceptible to hackers.
How is it different from standard payment entrances?
Traditional payments often include threats and high limitations, especially global transactions. A decentralized payment gateway, like ErosCoin, accepts more than 500 different types of cryptocurrencies. The decentralized nature of the system also indicates that payments are much safer and less vulnerable to destructive attacks. Human errors are not involved and reduces frauds and errors. When the payment is recorded on tape and confirmed on the Blockchain, it is not possible to change it. Add to the reality that payment administration and red tape are reduced by eliminating money intermediaries and you have a convenient cross-border payment experience for customers and sellers. This means that there will be no more accounts blocked due to hidden terms. You can also say goodbye to restrictions due to your geographical area. In short words; it is a direct and cross-border payment service at reduced costs.
What are the advantages of a payment gateway that uses blockchain technology?
The main goal is the advantage, speed and cost savings.
A decentralized and independent system gives you maximum flexibility on when, where and how you conduct your payments. The advantage of a multi-cryptocurrency approval platform develops a standardized network that can be used by various users all over the world, without the need for different applications.
Automated intelligent contracts with established criteria improve the speed of the transaction. A Blockchain-based payment entry allows transaction parties to verify the conclusion of payments worldwide in 15 to 20 seconds. It is significantly shorter than standard online payment gateways, which can be used up to 3 days.
Even self-executed smart contracts have a substantial effect on transaction costs. Intermediaries such as banks and clearing houses may accumulate transaction fees by charging high transfer fees and adding third parties not necessary for the transaction process. However, the use of an abBlockchain-based payment entry that uses smart contracts removes the requirement for these brokers and therefore reduces payment costs to the absolute minimum.