DeNet Enables Unlimited Payments on Blockchain with Emercoin’s RandPay system

The RandPay system makes blockchain transactions almost instant and cheaper.

DeNet, a blockchain-based cloud service for storing confidential information, has deployed Emercoin’s new micropayments system RandPay.

According to a statement from Emercoin, this allows for making an unlimited number of payments in a decentralized network and this is “an unprecedented event in the blockchain world”.

Previously, the number of transactions was limited to seven per second on the Bitcoin blockchain and 16+ on the Ethereum network. The average time for one confirmation of payment varied from minutes to hours, making instant payments almost impossible.

However, the RandPay technology makes transactions faster, cheaper and more secure. At the same time the DeNet platform “borrows” the unused computing capacity of configurations around the world to speed up the process, at the same time paying for the power to the owners.

“RandPay makes blockchain transactions faster, relieves its number limits and reduces fees,“ said Emercoin CTO Oleg Khovayko. “Also, RandPay is simple to integrate and is very secure“.

“Implementing RandPay in DeNet services enables paying for each capacity unit,“ aid DeNet co-founder and CTO Denis Shelestov. “Emercoin has the technology; we have services where we can implement this technology.“

Emercoin is a blockchain developed from the original Bitcoin blockchain, but with added extras and flexibility. The company offers secure, distributed blockchain business services and supporst security services like EMCSSL and EMCSSH that can provide users with passwordless identification and access control. Among its clients are Microsoft, Coca-Cola, Deloitte, Lloyd’s, and Bitfury.

There is also the Emercoin (EMC) cryptocurrency, which is an open-sourced peer-to-peer cryptocurrency which forked from Peercoin in 2014. It uses both Proof-of-Stake and Proof-of-Work mining protocols.

DeNet was founded in 2017 and works to create an alternative to centralized cloud services. Its solutions provide anonymity and high level of protection for commercial and personal information, reputation, and personal data.

DeNet develops cloud services for the distributed storage of confidential information. DeNet solutions provide anonymity and revolutionary level of protection for commercial and personal information, reputation, and personal data. Currently DeNet offers four products: DeNet.Storage, DeNet.Hosting, DeNet.Mining and DeNet.Computing.