In next few years Blockchain will disrupt many industries like banking,healthcare to supply chains. So to keep up the pace in the Digital currency world, Token Pay has come with eFIN exchange platform. Here let’s dive deep into the details of the eFIN Exchange – what is eFIN? How to get eFIN coins? and what are its features?
What is eFIN?
eFIN is a secure, decentralize, private, unhackable, trading hub of the TokenPay ecosystem. In the early 2018,TokenPay Swiss AG acquired stake in WEG Bank AG and TokenSuisse.eFIN developed by BlockSize and powered by TokenPay came into existence in 2018.
Using a decentralized platform, it ensures that users digital assets are safe. Built with an intuitive interface, its multi-signature engine ensures that transactions are as seamless as possible.Also ,eFIN supports quick and painless TPAY, XVG, and LTC conversions to mBTC to use on TokenGaming, CryptoBet, and Esports.io in the future.
eFIN DEX considers User’s security and privacy very important, which is why eFIN has optional Tor network integration built-in, and it doesn’t has access to users’ private keys. Moreover, users are in control of their funds. eFIN DEX never has custody of user coins.
Built on a new codebase utilizing the latest technological advancements in privacy, security, and speed, the eFIN coin is the utility backbone of the eFIN decentralized asset trading platform.
It is built on its own secure Bitcoin-based blockchain (rather than being yet another coin released on somebody else’s blockchain, such as ERC-20) developed specifically for facilitating private financial transactions.
Further, by using a modern codebase, eFIN utilizes Native Segwit, Stealth Addresses, Ring Signatures, Confidential Transactions, and the upcoming RingCTs and Infinitesimal Protocol to offer users advanced privacy protection on a secure, lightning-fast, scalable platform
The Benefits of eFIN coin :
- Ensure a tight buy/sell spread
- Provide near-instant transaction times
- Pay trading fees
- Functions as bridge coin to enable instant trading between infinitesimal & Lightning Network compatible chains.
Furthermore, users will be able to exchange eFIN Coins for TokenSuisse financial products on the blockchain. The main purpose is to tokenize traditional Swiss financial assets and make them available to everybody on the blockchain.
How to get eFIN coin?
eFIN token is not for sale. The only way to get eFIN token is through Tpay. you will receive eFIN, only if you are holding Tpay and trading on eFIN DEX.
- eFIN reserves 53% of the coins to membership disbursements.
- 20% of the coin supply are for eFIN staking rewards.
- 15% of coin supply is for team and founders.
- 12% of coin is for additional staking.
If have coins in Tpay platform, then you are eligible for eFIN coins. Moreover, there will be an update in the TokenPay wallet where you will input the address from which you are staking your TPAY,your eFIN address, and a cryptographic signature to verify that the address is yours.
The eFIN blockchain is monitored. Once you receive your regular TPAY staking rewards in your TokenPay Wallet, you will also receive your additional eFIN coins in your eFIN wallet.
eFIN Features :
1) Infinitesimal Protocol :To start, let’s talk about the core protocol behind eFIN — Infinitesimal Protocol. This protocol is new blockchain technology which uses bidirectional payment channels, smart contracts, and atomic swaps to allow for near-instant transaction confirmation times.
2) Cross – Chain Atomic Swaps : Atomic swaps allows users to trade cryptocurrencies cross-chain. Atomic swaps allow some amount of one cryptocurrency (such as bitcoin) to trade for some amount of cryptocurrency on another blockchain (such as Ethereum).
3) RSK-Power Smart Contracts : A smart contract is a special protocol intended to contribute, verify or implement the negotiation or performance of the contract. Smart contracts can perform credible transactions without third parties. Moreover, these transactions are trackable and irreversible. Also, Smart contracts contain all the information about the contract terms and execute all envisaged actions automatically.
4) TOR Privacy Integration: TOR is an internet networking protocol aiming at anonymizing the data that runs through it. Hence, it makes it very difficult, if not impossible, for someone to track your online activity.
5) SEGREGATE WITNESS (SEGWIT) : eFIN is built with Native Segwit implementation, making it compatible with the Lightning network. This results in better scalability and cheaper transaction fees. SegWit also solves the transaction malleability problem, which was a well-known weakness with Bitcoin
6) Multi-Signature Transaction Engine: Multisignature technology ensures that the eFIN network can function in a decentralized capacity without counterparty risk. Basically, multisig refers to applying multiple private keys for transaction.
7) Ring Confidential Transactions(RINGCT) : Ring Confidential Transactions also known as RingCT, are an additional privacy feature that obfuscates transaction amounts being transferred between users by incorporating Ring Signatures to Confidential Transactions.
8) Proof-Of-Stake : Proof-of-Stake (PoS) is an alternative way for the validation of transactions and to reach a distributed consensus. It works in a totally different way compared to Proof-of-Work.
Basically, the most important thing is additional security. eFIN is a non-custodial decentralized trading platform, where your digital assets are secure as blockchain. Only you have access to your coins, because only you have access to your private key.
Overall, eFIN is a product of TokenPay, Which uses blockchain technology and provides the best security system. But to purchase eFIN coins ,you need to hold Tpay coins, which is one of the drawback for those who want to buy eFIN coin alone.
The offer is good for members of Tpay and it looks very promising for the future considering blockchain technology.
Please share your views!
Be sure to like and share this article, Your support helps us spread the news to other people who may not know about eFIN.