Crypto adoption and how it will come about (not when) is a debate that gets a lot of people fired up. DApps, Bitcoin, lightning network, privacy, tokenization are all a lot of phrases that get thrown around when the discussion of how and why crypto will be adopted as the mainstream. Another voice in that debate is that of the Point-of-Sale (POS) team.
Project’s like PundiX (NPXS) have been champions of the goal to bring crypto to the mainstream by letting you by everyday goods like food or clothing from a department store with crypto and their POS Terminals they’ve developed. What if however there was a project that integrated crypto into already existing POS devices owned and operated at the majority of stores with a simple software update?
That project exists and it’s called Graft. Graft is a cryptocurrency project that is developing solutions to integrate cryptocurrency payments into the existing POS devices and terminals made by Verifone and Ingenico the world’s leading POS device and terminal companies. Along with that feature, terminals using the Graft software will be able to accept other cryptocurrencies like Bitcoin or Ethereum and all transactions on the Graft network are anonymous using ring signatures and stealth addresses.
To be honest that right there was enough to really hook me on the Graft project, but there are a lot of details to it that make the project even more appealing. For the rest of the article I’m going to go through and talk about the great features of Graft and some basics on how the project functions.
Graft’s one sentence description is that it’s a decentralized payment processing platform. The project is open source and developers and merchants are freely able to participate in the network and its services.
Now, the Graft Network is constructed to work with existing credit card payment structures meaning that Graft is able to accept credit cards, fiat currencies, and cryptocurrencies as payment. That network design was chosen deliberately as it would be a system that could be trusted by merchants and users due to their familiarity.
With the Graft Network, merchants have a universal solution that they can have added to their current POS devices that are able to accept all types of currency with instant authorization, like with credit cards, and low fees. Authorization speeds and merchant fees are of course a big deal to a business.
They don’t want to slow down the time it takes to serve a customer and they of course don’t want to pay any extra fees to incorporate cryptocurrency payments. Graft creates a system that benefits the merchant without any traditional drawbacks we associate with cryptocurrency payments.
Another facet of accepting cryptocurrencies that many overlook is the fluctuations in price. We have all experienced this to a degree. You wake up and Bitcoin is at one price and then by the time you go to sleep that price is drastically different. Businesses don’t want to have to deal with the price fluctuations of Bitcoin.
That added headache isn’t worth the added business of crypto to many of them. To combat this issue Graft gives businesses the option of when they want cryptocurrency converted to fiat, if they even want it converted at all. Those options are conversion directly at the time of sale, so a company would never have to worry about changing value or conversion at the end of each business day.
Additionally, with Graft a merchant is able to create their own custom tokens for loyalty rewards programs, so before you ask the goal of Graft is not to spawn some kind of token for every department store to be openly traded.
Lastly, a very important part of the Graft Network is of course the network and how that operates. Graft launched its mainnet back in January of 2018 and most recently launched its public alpha for the RTA Supernodes. The public alpha launched earlier this November and is a crucial step for a fully functioning Graft Network. The RTA in RTA Supernode stands for Real-time Transaction Authorization, so these nodes are what make the real time authentication possible for the Graft Network and what will allow it to have the speed necessary to compete with typical credit payment processors.
Graft is currently trading at a price of $0.009 or 228 Sats. The total supply of the coin is 1.15 billion and the circulating supply is 432 million Graft. The market cap of the project is $4.2 million and the daily volume for the coin across exchanges is $11k.
There are three exchanges that currently offer pairs for Graft. Two of those exchanges TradeOgre and Cryptopia take the majority of the volume on their BTC pairings at 84% and 13% respectively. TradeOgre only offers the BTC pair while Cryptopia also offers a LTC pairing. Lastly, Graft is also traded on STEX where they offer a BTC and ETH pairing of Graft.
Please see the following links to learn more about the Graft project:
Website — https://www.graft.network/
Announcement — https://bitcointalk.org/index.php?topic=2115188
Twitter — https://twitter.com/graftnetwork
This article is just a small snapshot of all the features and information out there regarding the Graft project. The website has a plethora of resources to consult regarding their market research, the many different components to their network, and their overall vision. With this article I’ve given you a brief intro into some of their highlight features and hopefully whetted your appetite to the Graft Network.
Thank you for reading today’s article! As always follow me on here or on Twitter @thant1194 or on InvestFeed @thant11 in order to stay up to date on all my articles as I release them. I am not associated with the Graft team and am a holder of their coin. Thank you again for reading. I have to return some video tapes.