In the 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? & What are its features?
What Is An eFIN?
eFIN is a secure, decentralize, private, unhackable, trading hub of the TokenPay ecosystem. In early 2018, TokenPay Swiss AG acquired a stake in WEG Bank AG and TokenSuisse. eFIN is developed by BlockSize and powered by TokenPay came into existence in 2018.
This decentralized platform ensures that users digital assets are safe. Built with an intuitive interface, its multi-signature engine makes sure that transactions are as seamless as possible. Also, eFIN supports quick and simple TPAY, XVG, and LTC conversions to mBTC to use on TokenGaming, CryptoBet, and Esports.io in the future.
eFIN DEX views User’s security and privacy very important, which is why eFIN has optional Tor network integration built-in, and it doesn’t have access to users’ private keys. Moreover, users are in 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 an 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 the eFIN coin?
You can not buy eFin directly, as it 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 payments.
- 20% of the coin supply is for eFIN staking rewards.
- 15% of the coin supply is for team and founders.
- 12% of the coin is for additional staking.
Features of eFIN :
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 allow 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, multi-sig refers to applying multiple private keys for a transaction.
7) Ring Confidential Transactions(RINGCT) : Ring Confidential Transactions are 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 a blockchain. Only you have access to your coins because only you have access to your private key.
June 10, 2019: Partners, Platinum and Standard members received May $TPAY staking rewards on June 10, 2019. These were pushed to their BLAST dashboard. Partners get a 5X $TPAY staking reward multiplier whereas Platinum gets 10X.
June 9, 2019: The exchange announces the listing of eFIN coin on DEX scheduled for August 1, 2019. All the blockchain coins are integrated on the DEX with $TPAY as its base pair.
June 4, 2019: The eFIN DEX announces to be live at BLAST. The users could login through the same credentials from the eFIN exchange dashboard.
June 1, 2019: The eFin Exchange migrated the rewards platform over to BLAST. They also announced to be live on Monday, along with the world’s first ever multi-protocol, cross-chain, non-custodial, Tor network privacy DEX trading with $TPAY base pairs and automatic order matching.
May 28, 2019: eFIN announced that 3 pairs are launching on June 3, 2019. $BTC, $LTC, & $ETH all paired with $TPAY as the base. $TPAY proves to be 10 times faster than $BTC.
May 21, 2019: TokenPay announces to launch trading on eFin Exchange. eFin Trading also launches the roadmap where the DEX starts trading on June 3.
June 3 we launch trading on @efinexchange. The world’s first non-custodial cross-chain DEX with Tor network privacy, automatic order matching and partial orders. With 1 minute blocks $TPAY is the base pair. $EFIN will be layer 2 atomic swap pair. Join now: https://t.co/WBHRePU3tx pic.twitter.com/fp82RYvQVW
— TokenPay 🛒 (@tokenpay) May 21, 2019
19 May 2019: Partners & Platinum receive $EFIN April rewards to their wallets. This is rewarded for $TPAY staking and Partners will receive 5 times more $EFIN than Standard members of eFIN.com. Platinum will receive 10x. This runs till April 2020.
14 May 2019: $TPAY offers low-cost transaction fees, bulletproof reliability and lighting fast – one-minute block confirmation times, at the June 3 DEX launch, $TPAY is chosen to be the exclusive crypto trading pair for all blockchain coins and ERC-20 tokens.
10 May 2019: $EFIN completing internal testing in their beta group for the April rewards to $TPAY stakers. This is a brand new technology unlike an ERC-20 smart contract, and they are building a protocol from scratch to mass distribute blockchain coins.
10 May 2019: EFIN TRADING LAUNCH ANNOUNCEMENT, Full DEX trading will start from June 3, featuring a blockchain first – Automatic partial order matching across different chains. On June 17, it will launch the one-click Easy Trade platform and Market Orders by July 1.
04 May 2019: Good NEWS FOR $EFIN STAKERS. Along with the $CBET Airdrop for $TPAY stakers and they‘re pleased to announce that @CryptoBetCom has allocated 5,000,000 $CBET to $EFIN stakers over 120 months.
03 May 2019 : You are no longer required to enter a $TPAY wallet or Signed Message to receive $EFIN coins. Just log in to eFIN account, go to the $TPAY Staking Rewards section on the ‘My Account page’, then enter your $EFIN wallet address, and click the Update button.
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 drawbacks 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.
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