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TokenPay: A New Highly Secure Digital Payment Platform
The environment of online payment processing is continuously changing and sometimes seems to barely keep up with the fast paced world. This creates a need for a stable and secure method of conducting transactions. Blockchain payment platforms provide secure and irreversible payment methods that are digitally signed by both parties and yet anonymous at the same time. TokenPay is one of the latest platforms. Transactions are made with its own untraceable asset know as TPAY. It has all the most advanced security features including encrypted messaging, a stealth addressing system, and anonymous trading. These features allow secure and fast confirmations in any condition.
What Is TokenPay?
Perhaps we should start with a broader explanation of the concept of blockchain payment platforms in general, what drove the demand for such a system, and how these platforms fill that demand, followed by what makes TokenPay different.
Blockchain refers to a digital chain of individual payments, or rather the encrypted record of such payments, in which each block is a link in the chain that is digitally signed by the parties involved in the transaction. These block records are encrypted and stored in a sort of one way manner so that individual transactions can't be reversed or undone, solving a problem which would otherwise allow a payment to be undone after goods or services have already changed hands so to speak. Without the security that blockchain platforms provide, one party could actually make a purchase, take delivery of a virtual or physical good or service, only to reverse the payment afterward leaving the other party empty handed. The concept of the blockchain was pioneered by the now popular Bitcoin, the first major digital currency that could be purchased with real currency and used to make secure and anonymous payments.
Nothing is truly anonymous online, but the nature of the blockchain and data encryption make it very difficult to trace transactions, as one would practically need to chronologically trace and decrypt each and every transaction in the chain that occurred after the transaction one wanted to modify. For example, say John buys a digital token from Joe using actual currency, say dollars, who stores this token in a digital wallet for John. When Jane provides some service to John, John asks Joe to give his token to Jane, and Joe transfers the token from John's wallet to Jane's wallet, then makes a record of this in his ledger. Joe goes on to facilitate several other such payments for his other clients, using each subsequent transaction record to lock the record of each preceding transaction, forming the chain. Now, to access the transaction between John and Jane, one would need to unlock or decrypt each transaction that occurred chronologically after John's and Jane's transaction. TokenPay's platform is quite a bit more sophisticated than this example, but it's a relatively easy portrayal of how the platform works.
How is TokenPay Different?
TokenPay's proprietary Zero Knowledge proof, encrypted dual key stealth addresses, and ring signatures all work together to accomplish what TokenPay is striving to provide for its users. TokenPay, along with the other major blockchain platforms, is modeled after the popular Bitcoin, the original blockchain digital currency. What TokenPay accomplishes with its unique features is strongly focused on what the hardcore users of digital currency are really looking for, which is anonymity, security, convenience, and these features on steroids, as TokenPay would put it. TokenPay provides its users with the anonymity and security of what it calls Zero-Knowledge proof of transactions, so that users can easily and with 100% certainty prove that a transaction took place at a specific time without having to divulge any confidential information. This means that neither parties will ever have access to any of the other parties information other than the mere fact that a particular transaction took place, along with the obviously relevant facts, such as dates and amounts for example.
TokenPay will have their own multi screen encrypted wallet, as well as an international banking platform and debit card. Check out all these features on their website and social media sites.