Faster Payments technology is still in its nascency and the need for real-time technology is critical
In this article, we’ll be looking at building a decentralised exchange based on the ERC-20 and API standards for tokens within smart contracts as part of the Ethereum blockchain technology.
EXTC Network will become a new a decentralised exchange that allows delivery of financial services via a distributed ledger, self-executing smart contracts, and cryptocurrency.
Create a standard for faster payment and high execution speed transactions
Four key elements that are guiding the design and development of our cryptographic currency roadmap are centered towards a simple concept - the consistent global growth and need for:
- Faster Payment Solutions
- Distributed, highly secured, trustworthy and resilient networks to support the concept,
- Balancing the transition between new transaction model and legacy fiat one.
- Accessible, compliant services and regulated practices and commitments over securities issuance
The name chosen for the token is EXTC (Express Transaction Credits).
The vision is to achieve a brand new suite of financial services to facilitate and guarantee instant loans, lighting-fast payments and deposits between participants with enhanced transparency of transactions that offers users a well suited platform regardless of their financial standing.
All services will support traditional fiat currencies, cryptocurrencies and compliant tokens.
EXTC tokens will be built and issued as EIP20 compliant for the Ethereum blockchains, underpinned by an incredibly secure and stable platform ensuring that each P2P node is reputable and not fraudulent.
Building the Future
Four types of payments will be supported on the blockchain or distributed ledger:
- Single Atomic Payments - one-off payments
- Time-based Payments - one-off payments sent and received on a pre-arranged date
- Real-time Standing Orders - regular payment that pays a fixed amount to the same recipient on regular dates
- Corporate Mass Payments - bulk files of payment, that can be sent 24 hours a day, seven days a week