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Is cryptography a science or an art? Its fruits are beautiful, and only true art can produce a beauty! Dostoevsky said “beauty will save the world.” The beauty of cryptography will save privacy and security of our world in a time of total connectivity.

Look at Elliptic Curves, a public key encryption algorithm used in digital signatures by both Bitcoin and CryptoNote protocols. They are beautiful even if you don’t understand the math. They become even more charming when you start understanding. In my recent book, Bitcoin for Nonmathematicians, I tried to explain, without higher mathematics, in layman’s terms, how Elliptic Curves work. It’s not impossible to understand them if you really want to. But they are huge and mind-blowing. And they are just one piece of CryptoNote protocol, which is one of the highest achievements of cryptography.

CryptoNote stands out of all other blockchain protocols because it provides something we all need: privacy. We often take privacy for granted and only regret when we lose it. Ironically, Bitcoin and its derivatives take a step backward in privacy area comparing to older payment technologies such as cash or even plastic cards which became an inglorious symbol of compromised security and privacy. Bitcoin creator(s) either did not think about privacy, or simply did not have enough time to resolve all the problems, which is absolutely understandable as they had even more important problem to solve: the very existence of blockchain technology.

CryptoNote keeps all the benefits of blockchain technologies, which are well known, while “returning” the lost privacy features: untraceable payments, unlinkable transactions, blockchain analysis resistance, and confidential transaction amounts. On top of that, Graft adds confidential transaction fee amounts to complete the picture. CryptoNote creates a perfect solid foundation for building a variety of industry-related features which Graft brings to light in order to conquer the world of payments.

A set of cryptocurrency service brokers will be available for each major cryptocurrency listed on https://coinmarketcap.com/, starting from the top of “top 10” by market capitalization. The service brokers will boost liquidity of each cryptocurrency by enabling various payment options on both buyer’s and merchant’s sides of the transaction. The cryptocurrency service brokers will be implemented in collaboration with existing or/and newly created exchanges. Multiple choices for each cryptocurrency eventually will be available, so they could compete in order to provide better rates and services. The variety of services and automated sign up, selection, and execution processes will keep the decentralized character of the network.

Every single set includes four service brokers implemented for each cryptocurrency. Pay-in and Top-up brokers work with the GRAFT wallet app to allow a buyer to use the selected cryptocurrency as a payment method when making a payment to GRAFT points of sale (POS), native wallet apps, non-GRAFT POS integrated with GRAFT DAPI, or non-GRAFT POS that accepts the selected cryptocurrency. Accept and Payout brokers work with GRAFT POS to allow a merchant to accept the selected as a payment method while conducting payment transactions with GRAFT wallet app or NEM wallets.

Pay-in Broker

Pay-in broker works with GRAFT Wallet App to facilitate a payment to a native cryptocurrency wallet or non-GRAFT POS accepting the cryptocurrency.

In this scenario, the Pay-in Broker creates a regular cryptocurrency transaction in native format for the particular network and sends it to the native recipient address. There is a network transaction fee which is in this case charged to the sender because the transaction is not fully facilitated by the GRAFT network. The payment is not processed instantly because the recipient is not participating in Graft network. This scenario is less beneficial than GRF transaction for both buyer and merchant because of the lower speed of transaction and transaction fees paid by the buyer. However, it is supported by Graft in order to keep the buyer’s wallet flexible and useful even outside of the Graft ecosystem.

Pay-in Broker will instantly exchange necessary amount of GRF from buyer’s account to the selected cryptocurrency. The buyer pays a small exchange fee to the Pay-in Broker, which can be paid in a form of exchange rate.

Top-Up Broker

Top-Up Broker works with GRAFT wallet to perform on-demand exchange of the selected cryptocurrency to GRF in order to allow payments to GRAFT POS or non-GRAFT POS integrated with GRAFT DAPI.

This scenario is the most beneficial for both the buyer and the merchant because all the fees (including the network fees of the target cryptocurrency) are paid by the merchant, and payment is approved instantly. For the buyer, the benefits are obvious – no fees associated with the payment, and ability to pay with the target cryptocurrency to a merchant that does not accept it. For the merchant, it is important to get instant authorization in order to be able to serve more customers in real time, and accept payments in various cryptocurrencies. The fact that all the fees are paid by the merchant, just like with “traditional” credit/debit card payments, allows much better customer conversion rates.

Top-Up broker can also process exchanges on demand with larger amounts and better rates.

Accept Broker

Accept Broker works with GRAFT POS to facilitate acceptance of selected cryptocurrency as a payment method in case the buyer does not have GRAFT wallet. Accept Broker receives funds in selected cryptocurrency and converts them to GRF.

The (selected cryptocurrency) network transaction fee is still paid by the buyer, unless the buyer uses GRAFT wallet app. If the buyer uses GRAFT wallet, the wallet recognizes the GRAFT POS and automatically converts the payment transaction to instant transaction in GRF.

The merchant payout is processed by Accept Broker in GRF instantly, hourly, daily, or on demand, depending on settings, or in other cryptocurrency or fiat currency if corresponding payout brokers are activated.

From the buyer’s point of view, the transaction looks similar to regular transaction between native cryptocurrency wallets.

Payout Broker

Payout Broker works with GRAFT POS to facilitate merchant payouts in selected cryptocurrency. Payout broker exchanges GRF available on the POS account to selected cryptocurrency and makes deposits to the associated account instantly, hourly, daily, or on demand, depending on settings.

Payout Fees

Payout fees/exchange rates for payouts processed by either Accept or Payout service brokers may vary on frequency of the payout. Depending on transaction volume, daily payouts can cost significantly less than instant payouts since the broker can accumulate more funds and pay just a single network fee for single payout transaction, comparing to paying a separate fee for each instant payout transaction.

[edsanimate_start entry_animation_type= “slideInUp” entry_delay= “0” entry_duration= “0.5” entry_timing= “linear” exit_animation_type= “” exit_delay= “” exit_duration= “” exit_timing= “” animation_repeat= “1” keep= “yes” animate_on= “load” scroll_offset= “” custom_css_class= “”][edsanimate_end] GRAFT Network enables crypto payments to work similarly to other payment processing networks (like Visa, Mastercard, Amex) by supporting special functions such as instant authorizations, merchant paid fees, etc GRAFT tokens are the lifeblood of GRAFT Network and are used as a specialized interim medium which provides the functions needed for POS-style payment processing. GRAFT tokens are also used for Proof-of-Stake protocol (where the credibility of the nodes is proven by presenting the network token ownership.)

So who should consider getting GRAFT tokens and why?

Here are some of the potential actors and usages:

1. SuperNode Operators looking to make fees on authorizations
2. Service Brokers (Payment processors, exchanges, risk managers, etc) need GRAFT tokens as Proof-of-Stake to be able provide services on the network
3. Users need GRAFT tokens to be able to buy from merchants who participate in GRAFT Network
4. Merchants who are looking to run a loyalty program
5. Merchants who are looking to do mining or run a authorization Supernode

Our main goal is making the cryptocurrencies as convenient as plastic cards, while keeping the payment secure and private. We do this on both sides of the transaction: the buyer and the seller (merchant). In order to achieve those goals, we need a smooth transition from traditional payment methods, such as credit cards, to more progressive ones, like cryptocurrency. It is naive to believe that buyers and sellers will suddenly forget about plastic cards, which have a strong presence in the market and don’t go away anytime soon. Thus, Graft combines both methods and makes the payment process simple and available in any situation. The buyer can pay with their cryptocurrencies directly wherever it’s possible, but use the plastic card, which is linked to the wallet, in any other place that is not yet familiar with crypto. The same is with the seller. Using single point of sale app, merchant can accept various crypto-currencies and credit/debit cards.

In addition to these main goals, we are designing more services that will be provided by GRAFT network to improve the lives of sellers and buyers. For example, obtaining an instant credit by the buyer, or creating merchant tokens, which will be used by sellers as “private cryptocurrency” for important business functions such as store credits, loyalty rewards, gift certificates, and discount coupons.

There is another interesting and promising feature, which is in conjunction with merchant tokens elevates Graft from “another payment network” to a universal payment platform. This feature is called vchain, from the combination of words “virtual”, “chain”, and “blockchain”. Using vchain, sellers can connect several points of sale located in one store, or even create a network (“chain”) with multiple stores. Buyers can also use vchain to manage multiple wallets linked to each other and transfer funds for free between multiple accounts, which is useful for family or corporate accounts.

And finally, a few words about security and privacy. GRAFT uses the CryptoNote protocol, which is by far the highest achievement of modern cryptography. CryptoNote provides incomparably better privacy features comparing to any other blockchain protocol. Payments recorded on the GRAFT blockchain can not be viewed, traced, or linked to particular identity without consent. CryptoNote completely conceals from prying eyes almost all the attributes of the transaction: the buyer’s address, the amount of payment, and the address of the seller. On top of that, GRAFT adds another feature that is unique and has not yet been implemented by anyone else: hidden transaction fee amount. Thus, serious buyers and sellers, who really care about privacy of their financial transactions, for the first time have an opportunity to make their payments in cryptocurrency or cards without the risk of spying from competitors, criminals, or just random observers.

It is not a secret that some payment functions cannot be fully decentralized, even if they are “placed” on top of blockchain technology. One example is credit card payment processing which implies a lot of compliance with various regulations, both local and international. But we still want to use those cards, and we would like them to work together with cryptocurrencies. GRAFT Network resolves this dilemma by introducing service brokers which implement specific features that cannot be fully automated by decentralized network. This short article explains how service broker work in a form of instructions for a newbie.

First of all, there are several types of service brokers:

Credit card accept broker

Instant cryptocurrency accept broker

Instant cryptocurrency exchange broker

Payout (exchaging cryptocurrency to fiat currency and transferring to bank account)

Identity verification broker

Any existing company-service provider (such as credit card payment processor or cryptocurrency exchange) can become a GRAFT service broker, and thus magically extend their business from “traditional” centralized world to the world of decentralized crypto payments.

1. Setup

Integrate with appropriate GRAFT DAPI and test using testnet;

Install your own full supernode or make a lease agreement with one or more full supernode owners.

2. Advertise

Define your service offer: Client type (wallet, POS, or both), Region (country) or list of regions, Service fees (information about fee structure and/or exchange rates) Identity disclosure requirements (what elements of user identity are required in order to execute the service request);

GRAFT Network will broadcast the advertisement messages to all supernodes and make it available to all wallet and/or point of sale clients connected to the network and matching the target audience criteria, along with your reputation score calculated by full supernodes based on historic data stored in the blockchain.

3. Process

When a user needs particular service, the GRAFT software will automatically choose the service broker based on the best match or the user criteria and the broker offer. Once your service is selected, just process the service requests and credit or debit the user’s account as a result;

Share service fees with the processing supernode owner if you “lease” the supernode, or earn extra fees if you own the supernode.

It looks like all the bitcoins were sold out last week during the fall… Don’t forget that GRAFT Wallet and Point of Sale apps support BTC and ETH too!

It depends on how you pay or accept payment. Graft platform offers multiple ways to pay (for a buyer) as well as various methods of accepting payment (for a merchant). if buyer pays by Graft plastic card linked to the buyer’s Graft cryptocurrency wallet, he or she relies on merchant, merchant’s payment processor, and acquiring bank, who are not always the best experts in keeping our data safe (remember all those endless mega card data breaches like Target). However, If such a card payment is accepted by a merchant that also uses Graft network and Graft point of sale app, this payment is more secure and private because the Graft card is recognized and handled by the Graft network as internal transaction. This is almost the same as paying with GRAFT itself (graft coins). “Almost” because there are still some “standard” risks associated with using a plastic card, even Graft card, since the card is issued by a centralized institution (otherwise, it wouldn’t be accepted everywhere, including merchants who don’t work with Graft network yet). GRAFT (coin) is the most secure, private, and least expensive way to transfer funds (although it is important to note that payment is always free for a buyer, because Graft is the only platform that charges transaction fees to the merchant just like in the “real world” of payments, but there are also “authenticated” transfers that are absolutely free for both sender and recipient). GRAFT is the most private and secure way to pay because the payment does not leave the network where all the elements of transaction – sender address, recipient address, transaction amount, and even transaction fees – are encrypted and hidden from public view. Nevertheless, Graft blockchain is still public, and transaction is validated by multiple supernodes. Such a level of security and privacy is achieved by using CryptoNote protocol and additional technology designed by Graft.