Globalization, universal computerization, the development of IT technologies, and the active growth of money markets have caused the emergence of a huge number of financial instruments, additional institutions, and new forms of human interaction in our society. Cryptocurrency is one such institution today. Initially, it was used only by a limited circle of people directly related to its foundation. But then it turned into a gigantic large-scale system covering the whole world.
Nowadays, cryptocurrency transactions are carried out not only on numerous exchanges and other resources on the Internet but also in many offline companies: stores, service centers, and even government institutions. Thus, for example, there are known cases of paying salaries to civil servants in bitcoins; crypto coins are accepted for payment in many restaurants, hotels, and shops worldwide.
Companies that offer reliable services for working with cryptocurrency are highly valued nowadays. As a rule, they allow users to exchange cryptocurrencies, pay for goods and services with Bitcoin or Ethereum, store digital coins in secure wallets, etc. One such company is defiway.com. Although this is a young online platform, it is pretty promising and deserves users’ trust. Read below in more detail about the services offered by Defiway and the benefits it provides to customers.
Defiway Products: List of Services Offered by the Company
Defiway rightfully deserves attention as it offers its customers a wide range of crypto services. Thus, Defiway has 5 unique offers (Bridge, Pay, Payroll, Wallet, and MultiSign), while other online platforms offer any single cryptocurrency service (for example, coin exchange, secure storage, payroll, etc.). Let’s consider each offer in more detail.
Bridge
As blockchains emerged and developed, users faced obstacles that prevented them from transferring assets between various blockchains. Each works according to certain rules and uses protocols, smart contracts, and tokens. Defiway bridge connects isolated ecosystems and arranges an interconnected network with seamless data exchange.
Bridge ensures cross-chain transmission, provides access to all required protocols on other blockchains, and allows developers from different communities to collaborate effectively with each other. The result is increased scalability and efficiency. Users can complete transactions more quickly and with lower fees.
Pay
Defiway Pay allows its users, whether individuals or businesses, to accept secure crypto payments across the globe. The device used by the client does not matter. All transactions are completed in seconds.
Payroll
Defiway Payroll is an opportunity to pay employees’ salaries in cryptocurrency. It is enough to have a reliable crypto wallet to carry out transactions. The Payroll software is great for small and medium businesses that want to pay employee salaries in cryptocurrency, send freelance commissions, affiliate rewards, etc.
Wallet
Everyone involved in crypto transactions should have a safe place to store, send, and withdraw crypto coins. This is a crypto wallet. Today there are a fairly large number of electronic wallets, but not all are trustworthy. The Defiway solution is a program that contains keys unique to a particular wallet’s owner. The wallet allows users to interact with various blockchain networks, providing the ability not only to make purchases and transactions but also to control the balance.
MultiSign
Defiway MultiSign is a technology for signing transactions with multiple private keys to enhance security and privacy in the process of approving the sending of transactions. It is a kind of threshold signature implemented as a test of conditions set in the underlying scripting language of the cryptocurrency. Using the MultiSign product, users can be sure of the safety of their coins since access to the funds stored in the wallet is possible only when two or more signatures are provided simultaneously.
How Does Defiway Crypto Bridge Work?
Each of the products offered by Defiway is unique and worth attention. Let’s consider an example of using a Defiway bridge so you can see for yourself.
As noted earlier, the Defiway bridge is a connecting mechanism that allows the transfer of tokens between chains. Chains can have completely different protocols and control models, but this will not prevent the establishment of safe compatibility between them. It works like this:
- When a user transfers tokens and data from one blockchain to another using a decentralized bridge, they don’t technically move;
- Tokens on the first blockchain are temporarily locked, and an equivalent number of tokens are unlocked on another blockchain;
- Subsequently, tokens on the first blockchain can be unlocked again during the reverse exchange.
Here are the key benefits that the user gets when using the Defiway bridge:
- Improving the efficiency of working with DeFi;
- Solving interoperability problems in blockchain ecosystems;
- Increasing scalability, etc.
With the help of the Defiway bridge, investors can move their tokens to the blockchain on which the most profitable pools for earning are located. Thus, the range of opportunities for working with decentralized finances significantly expands while the user retains full control over his own funds.
Concluding Remarks
Cryptocurrency is becoming more popular every day. And this is not surprising since it has a number of advantages, including an open source algorithm that allows everyone to mine digital coins, not subject to inflation; the impossibility of copying, as it is a set of encrypted information. Therefore, those involved in cryptocurrency transactions should enlist the support of a reputable company offering cryptocurrency services.
Defiway is a new company entering the market. But it deserves attention since the list of services is quite extensive. Bridge allows managing crypto assets among multiple blockchain networks. Pay is the ability to accept payments securely around the globe. Payroll allows you to pay salaries to employees in cryptocurrency. The wallet provides secure storage, sending, and withdrawal of coins. MultiSign increases the security of transactions. Use Defiway products and benefit!
