YAYPROTO DECENTRALIZED MONEY TRANSFER SYSTEM

WHAT IS YAYPROTO?

YayProto is the world’s first multipurpose binary protocol built with a decentralized technology in mind. Beta versions of SDK’s for building mobile apps(iOS/Android) are ready to be distributed by request. Desktop SDKs will be announced soon. Minor imperfections are possible. Bug reports are welcome.

Our goal is to create a decentralized cryptographic-resistant messaging system for private transactions. With YayProto Lending we aim to provide an alternative decentralized lending solution to individuals and businesses using the innovative blockchain technology. Having in backend YayProto, there will be a platform developed, which will use cryptocurrency alongside fiat currency for the purposes of peer-to-peer lending.

YayProto Lending platform enables people across the globe to lend or borrow Bitcoin, Ethereum and Fiat currency and thus be a part of global decentralised financial services.

TOKENS USE CASE

• In-app payments
• Offline payments
• P2P-transfer
• P2P and crowdlending
• As well as having an ability to pay for YayFon main products suited for business, like Call Button and/or Cloud PBX(release date March 1)

BLOCKCHAIN

The YayProto blockchain is a cooperative ledger of state changes, performed by licensed and trusted nodes, and is capable of handling thousands or tens-of-thousands of transactions per second. It achieves this by performing contract executions on-client and verifying their output by 90% consensus algorithm in the creation of each new block. The blockchain doesn't need to store a full history of all transactions, as these can be kept in the side-chains by each actor responsible for executing them.

HOW IT WILL WORK ON BLOCKCHAIN

STEP 1

Alice wants to send money to Bob in another city or country.

• Alice opens an app and sees a list of people, who are living in the same city/country as Bob and wish to provide the money with some extra fee.
• Along with the money, Alice generates a QR-code/password and sends it to Bob via the messenger (this will lead to the money being paid out).
• Bob, with a QR-code/password provided by Alice, contacts the nearest person (Dan) and, after providing him the QR-code/Password, receives his money, minus the fee.
• For Alice, to start this operation the minimum amount* of YFN is required on her balance, which after QR-code/Password generation will be blocked.

STEP 2

Eve wants to send money to Faythe. Faythe lives in the same city as Alice. Eve also lives in the city where Dan(step 1) lives. Eve generates QR-code/Password and sends it to Faythe. Eve contacts Dan and provides him money. Faythe contacts Alice and Alice releases the money, minus the fee. Eve's account now has a positive balance of currency(YFN, USD and/or etc).

Additional features

• Ranking system

Ranking system will be applied for transfer, as well as lending platforms. Ranking system will be based on personal rating, performance/time efficiency, community feedback, response speed.

TOKEN DISTRIBUTION AND FUNDING USAGE

USE OF FUNDS

ROADMAP

TEAM

for more details please visit the link below:

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AUTHOR

BITCOINTALK USERNAME :  putradaerah