Introduction
Today, when one needed third parties to secure a transaction, they come across dilemma. Assuming you are among those who have been having patience in the hardship of fraudlers or you heard the terribble stories that are prevalent in the cryptocurrency world. The common of these tend to involve one of the parties not meeting all of the requirements or perhaps had vanished without a trace. The introduction of blockchain technology has offered the world an opportunity to eliminate this issue of widespread. The team has decided to solve this by creating a convenient, easy-to-use, decentralised, transparent and independent escrow platform to make safe transactions that are convinient.
About the Payfair Platform
The PayFair project is a decentralized Escrow platform that provide a strong/ tight security of all cryptocurrency transactions that take place between two parties. These transactions includes the digital and physical goods, cryptocurrency, FIAT, services. The PayFair token (PFR), which is an ERC-20 token based on the Ethereum blockchain has help to backup the service . A network of “Nodes” that create a decentralized environment is created by the PayFair Token while the cost of using this service is extremely low. A highly competitive service that completes all transactions in a safe, private and decentralized environment resulting in a trust-less experience is provided. Futhermore, The PayFair is not only introduced to provide a safer environment, but also to save time.The time-consuming bureaucracy can be avoided since there are no third parties that are involved when making transactions.
Advantages of the PayFair project
The listed below are the advantages of payfair to participants
The payfair eliminate the potential for opportunistic and orchestrated fraud.
It regulates trade conflicts through the help of a decentralized, rating driven escrow service.
The payfair eliminate the lack of trust between contractors, buyers and sellers.
It decrease the exorbitant fees that plaugue the escrow market.
The PayFair Token
Ethereum ERC-20 Token standard
The PayFair tokens are the important part of the ecosysytem that are designed to fulfil the roles listed below:
Enables token holders to recieve a commssion on fees.
Create esrow nodes that will resolve disputes.
Create nodes of trust in the platform.
Token distribution
Total amount of tokens that are in circulation is 100,000,000 and are pre-mined. Listed below is the breakdown of the 100,000,000 distribution:
Reserved for Payfair team 11 000 000
Bounty campaign 3 000 000
Pre-ICO 30 000 000
ICO 56 000 000
ICO bonus
To encourage early investors the platform offers early stage bonuses such as:
6-10 days 10%
11-20 days 5%
21-30 days 0%
1 day 20%
2-5 days 15%
RoadMap
01st September - 30th September: pre-ICO campaign. Issuing ERC-20 tokens.ICO smart contract. PR-campaign.
01st November - 30th November: ICO. PR-campaign.
December 2017: Audit and beta-testing the platform.
Q1 2018: Releasing the first working version. First interest payments. First developments onneuronetwork. Testing and + collecting data using neural network.
Q2 2018: Releasing a mobile application, messenger bots, browser plugins and fiat support integration.
Q3 2018: Integration into different internet resourses.
Conclusion
In conclusion, the PayFair is a trust-less guarantees between contractors, sellers, and buyers it also enables a mutually beneficial relationship between all participants within the platform.It plans to create an independent system without outside or developer interference to raise the social interest in cryptocurrencies and provide an easy way to use FIAT Gateway for new investors.
Useful links
Website: https://payfair.io
Twitter: https://twitter.com/payfairio
Facebook: https://www.facebook.com/Payfairio
Telegram: https://t.me/payfair
Github: http://https//GITHUB.COM/PAYFAIRIO/SMARTCONTRACTS
Bitcoin Ann: https://bitcointalk.org/index.php?topic=2127946.0
Author Details
BTT Username: Kingairdrop
BTT Profile link:
