TokenPay is a decentralized and self-verifying payment platform project. Based entirely on mathematics it is designed to enable secure transactions between multiple parties. With maximum user security as the focal point, the system is accessed exclusively through the encrypted Tor Browser. Transactions are conducted with its own proprietary and untraceable digital asset called TPAY that is embedded with the latest and most advanced safety features. These characteristics include a stealth addressing system, encrypted messaging, completely anonymous trading and a uniquely designed hashing algorithm that enables fast and secure confirmations under any conditions.
The robust digital ecosystem is further fueled by a custom built 2-of-3 Multisignature Transaction Engine (MTE). This advanced protocol protects the user of the TPAY token. This is because each party must approve the transaction before the corresponding data is published on the blockchain. Unlike a traditional payment service, there is no centralized handling of user funds at any point in time. Participants generate their own pairs of private keys and public addresses. While the private keys are kept secret, users freely distribute the public addresses.
Therefore, when a TPAY blockchain transaction is initialized, all parties sign with the corresponding private key. This signature acts as the analogous action for a particular public address. The transaction automatically becomes fully executed because all parties on the blockchain are able to then verify these signatures using the public addresses. There is no need for a TokenPay user to reveal their private key to anybody. As a result, transactions are conducted with complete security, anonymity and without any counterparty risk typical of a conventional payment platform
TokenPay has incorporated a peer to peer encrypted instant messaging system using algorithms to maintain private conversations when using the TokenPay Wallets. All of the messages sent and received are encrypted by the proven AES-256-CBC algorithm and distributed between nodes in such a way as to prevent the recipients messages from being hacked or viewed by anyone that it was not intended to, even if the hacker can view the entire network and/or run nodes of the network. To reduce significantly the risk and inconvenience of sharing passwords, we implemented the proven and trusted method of Elliptic Curve Diffie-Hellman or also known as ECDH key exchange. This level of encryption is at the same level as what governments use for top secret files.
TokenPay’s secure encrypted wallets employ breakthrough Proof-of-Stake automation technology that is powered by the fully decentralized TPAY blockchain. Desktop wallet users receive rewards for simply leaving the wallet open. The processing power of the computer graphics card drives the TPAY settlement engine. This is a decentralized network, powered entirely by its users. Multiple TokenPay desktop and mobile digital wallets have been fully developed and are available for download now. CLICK HERE to register an account.
While the various TPAY digital wallets define the pinnacle of advanced security protocol, many still consider the paper wallet’s cold storage system to be the most heavily guarded digital token cache. In a literal sense, the TokenPay Paper Wallet is a physical document that contains all of the necessary data that is required to generate the essential TPAY private key. This can be the most secure way of storing TPAY because the wallet is not exposed to malware. It can be stored in a private safe. The private key is generated by the user on the highly secure TokenPay server. It is recommended that users disconnect from the internet when in the process of generating a private key. This way the paper wallet generator is considered to be truly self-contained and the keys are not being transmitted online. TokenPay regularly audits and verifies the integrity of the client-side private key generator that it offers on its website.
TokenPay is planning to form a new bank charter, partner or acquire a licensed bank in Vanuatu. One negotiation currenly underway is with a bank that has a great reputation and all the necessary relationships to make international transfers possible. As TokenPay desires to cater to cryptocurrency customers by tailoring the compliance department around this theme, this is a crucial first step. The creation of a a bank that is fully committed to customers with cryptocurrencies is the ideal situation. Accordingly, the intention is to offer traditional banking services with regulatory oversight and fiduciary status. AML and KYC procedures will apply the same, as with customers with fiat currencies. TokenPay plans to operate in the Hong Kong dollar which is pegged to the USD. Most desirable is the partnership or acquisition of a bank that already has many of the existing correspondent banking relationships that are necessary to transact in major currencies.
The concept behind the fully integrated BlueDiamond debit card is that it will be easy to load given its direct connection to the TokenPay digital wallets. Therefore, spending can be done virtually or at any point-of-sale merchant either online or in person. Additionally, the international debit card allows instant access to multi-currency funds at network automated teller machines. Transparent pricing and low fees make the BlueDiamond debit card a very attractive mechanism for cashing out digital tokens to enable hard asset purchases. A user’s digital tokens like TPAY or Bitcoin can be accessed whenever needed thanks to the closed-end real-time private exchange that will be part of the TokenPay banking platform. Accordingly, there is no need for the user to have to convert exact quantities of digital tokens to conduct a fiat transaction.
TokenPay's merchant services division offers businesses around the world the opportunity to transact with TPAY as well as other cryptocurrencies. All of this is possible with the integration of our planned bank and exchange to provide liquidity. Businesses will be have the flexibility to convert crypto to fiat. Also, fees for merchants will be as low as 0.25%. Merchants accepting TPAY will save more than 90% from traditional merchant service options. Aggressive merchant onboarding and promotion driven by a special zero-fee offer on transaction processing designed to drive increased TPAY denominated payment activity in e-commerce stores.
TokenPay is launching a hard capped TPAY digital token sale to raise funds for the TokenPay project and general corporate purposes. This will allow the team the ability to add more features to the platform. The maximum raise will be 5000 Bitcoin during the token sale and the presale combined. The number of tokens issued per Bitcoin will depend on the Bitcoin raised as per the bonus structure table detailed in this whitepaper. Prospective TPAY buyers can trade any amount of Bitcoin including fractional amounts such as 0.010 Bitcoin. There will be a discount offered to early TPAY buyers that will decay with the number of TPAY claimed during the token sale. There will also be bonuses offered for referring buyers to the TPAY digital token sale. There are NO REFUNDS OR EXCHANGES once BTC has been exchanged for TPAY.
|Week 1||December 7th to 14th||100%||100%|
|Week 2||December 15th to 21st||50%||50%|
|Week 3||December 21th to 27th||50%||50%|
|Week 4||December 28th to January 3rd||50%||50%|
|Week 5||January 4th to January 10th||25%||25%|
|Week 6||January 11th to January 17th||10%||20%|
Bank acquisition and development of multi-screen financial platform
Fully insured accounts, wallets, exchange and issuance of debit card
Ultra high liquidity and low spread private exchange for clients
Aaron is a fullstack commercial software developer buidling internal applications for companies like Rakuten, Veeca and App Annie.
Sunerok is the Lead Developer of the Verge Cryptocurrency. It is a secure, anonymous and heavily traded privacy coin that has been widely adopted by crypto enthusiasts.
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