InPay becomes an industry first with its dual blockchain payment system
Another tech startup has joined the First of its Kind club in the cryptocurrency space due to the innovative solutions it is developing to address Bitcoin transactions.
Instead of holding an ICO to fund its ambitious efforts, the company used its own funds. That’s not what earned it a place in the First of Its Kind club, however. Instead, it is its unique use of Blockchain technology.
InPay found a way two use not one, but two Blockchain technologies for its self-named token and payment system. Supported by Ethereum Classic and Waves, InPay’s token has been called versatile and user-friendly. Its token holders benefit from having stability and flexibility and features like a decentralized voting system and aliases.
Here, we’ll review its project to help you determine this startup’s relevancy and worthiness as an investment choice.
Making the best of volatility
Bitcoin recently fell just below $5,000. The record highs being recorded for the digital currency flies in the face of the many naysayers who were (and still are) convinced that Bitcoin and its many cousins in the cryptocurrency space would never reach such highs.
Bitcoin’s volatility also seems to be becoming less of an issue for investors and those wishing to own the tokens. It seems the market is becoming more accustomed to the temporary ebbs and flows of Bitcoin prices.
As naysayers fret, proponents like the founders and supporters of InPay are trying to capitalize on the gains. As more become accepting of Bitcoin, more are in need of simplified means to handle transactions. This is especially true for those who want to accept cryptocurrencies, but who lack the sophistication and knowledge on how to do so.
InPay’s platform also provides an alias system which is beneficial to novice crypto players. The system essentially lowers the bar for those who are not accustomed to long wallet addresses, notes The Merkle.
So, InPay has thought of several issues to make the crypto space more palatable.
InPay is launching a platform that combines the benefits of two of the most reputable Blockchain platforms available – Waves and Ethereum Classic.
Waves facilitates the process of accepting custom tokens in many ways. This includes allowing token holders to trade tokens into fiat. It is an open blockchain platform designed for ease of use and mass adoption, which is one of the reasons InPay was attracted to it.
Interesting too about InPay’s choice of a dual Blockchain is its intent to marry the unique benefits of both technologies, and mitigate their individual risks.
For example, Ethereum focuses on smart contracts. Waves, on the other hand features custom tokens platform where tokens can be easily created, transferred and traded. Anyone can use Waves to launch, distribute and trade their own crypto token. Like Ethereum, the Waves platform is fully decentralised, transparent and auditable.
InPay boasts its endeavor as being the payment system of the future. InPay’s goal was to help entrepreneurs who accept Bitcoin eliminate the need to pay intermediaries fees and commissions or open bank accounts. As a result, InPay’s is lowering prices for crypto buyers.
Combining blockchains to achieve optimal results based on their specific areas of strength is a development that has been adopted by the creators of InPay, a cryptocurrency designed to harness the properties of Ethereum Classic and Waves in enabling features such as decentralized voting systems and aliases.
InPay has listings on several exchanges, including EmpoEx, Yobi and Cryptopia.