Traxalt is a blockchain platform that has developed a protocol known as the Traxalt protocol to tackle the challenges that are currently being witnessed in the Global Payments Ecosystem. For instance, some of the challenges being noted include incompatible operational structures of banks operating in two different countries, middleman fees etc. – other issues include privacy concerns and sluggish settlements. The Traxalt platform addresses these issues with its standalone, enterprise-grade blockchain solution.
These considerable constraints in the global payments network have made many companies opt for blockchain-powered solutions – one that stands out is Traxalt. The total active user base of Traxalt stands at 972,000 (approx. numbers) amidst record daily registrations.
Traxalt to mitigate governance issues
● Low operational costs
● Speed in settlement
● Reduction of risk
● Enterprise scalability
With these features, the majority of the challenges faced while doing large corporate transactions can be addressed. The Traxalt solution has the capability of facilitating data transparency and permissionless participation even if selected organisations operate it.
Within the Traxalt ledger, the players participating in a transaction are able to view and verify transactions stored on blocks. Therefore, parties with bad intentions will be averted from manipulating data or protocol within their network. Depending on the specific business requirements, the Traxalt protocol may permit new functionality to businesses.
Traxalt protocol’s financial technology outperforms today’s centralized infrastructure by driving down costs, increasing processing speeds and delivering complete visibility into payment fees, timing and delivery. While the Bitcoin blockchain honours 6 – 7 transactions per second, the Stellar blockchain can do up to 1,000 transactions per second. The Traxalt protocol is fast, efficient and has a reliable architecture that can handle large business transactions on a daily basis without running into any scaling issues.
Users who benefit from using the protocol as a payment network include: Banks, payment providers, platform businesses, international businesses, corporate treasury, consumers.
Traxalt leveraging Blockchain to assist Global Payments Network
Traxalt aims to bring practical decentralized tools for various business and individual use cases. By leveraging the Stellar blockchain, Traxalt has created a financial settlement environment where the cost to perform transactions is cheap and fast.
The team is inviting interested market participants including developers, entrepreneurs, businesses and early believers to join this technology and the community, altogether working to create the financial tools of the future.