Former Manager, Visa claims that it has created a simple and quick system cryptopedia

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Former Manager, Visa claims that it has created a simple and quick system cryptopedia

Blockchain startup Crypterium promoting cryptocurrency payment system, oriented to the mass user.

The main problems associated with cryptocurrency payments, terms of business and mainstream users, is a dive into the actual cryptocurrency specifics, like addresses, wallets, keys, and transaction speed.

Former CEO of Visa in UK mark O’brien claims that his new startup, Cryterium at least have made significant progress in solving both problems.

Difficulty with wallet addresses has been solved in the following way: for the implementation of the transaction phone number of the recipient.

Latest get money even without having your wallet’s address — the recipient receives a message with a link, clicking on which you can get access to these funds, and detailed instructions. As stated by the developers, the instructions are very simple and easy to understand, and include explanations on the subject of how to spend the received cryptocurrency.

The transaction formally takes seconds because of the payment model chosen by the company. When the payee is going to spend the received means, the necessary sum is deducted from the wallet of the sender within the system Crypterium. Up to this point transaction data are simply stored in the registry, the facilities themselves are not moved.

Services Crypterium available to owners of the tokens CRPT listed on HitBTC, each transaction is charged a Commission of 0.5%. With each transaction the Commission is deducted from the user’s wallet and burned. The number of released tokens is currently a 99.99 million

The stated system capacity — up to 1 million transactions per second, however, given that the system is now registered over 400 thousand users to test it in practice in the near future is unlikely to succeed.

As a provider of liquidity in the startup provided a decentralized market Bancor. Currently Crypterium wallet supports bitcoin, ether and CRPT, the tokens of the project. List of coins we plan to expand, the developers promise to add the most popular coins.

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