About eFiat
About eFiat

Bitcoin became the first decentralized cryptocurrency in 2009. Bitcoin and its derivatives use blockchain as a decentralized control as opposed to centralized electronic systems to process transactions, allowing any two willing parties to transact directly with each other without the need for a trusted third party. Blockchains are auditable, unalterable and cryptographically secured global ledgers distributed and shared over the global infrastructure.

The eFiat Blockchain allows anyone to use blockchain in everyday transactions through its simple-to-use user interfaces. eFiat Blockchain is a general purpose platform built upon the Ethereum Blockchain based on "Proof of Authority" (PoA), a new concept in the world of blockchain technology. It is faster, more energy-efficient, and better for decentralization compared to “Proof of Work” (PoW).

eFiat Blockchain has the following characteristics:
  • anyone can create a smart contract with others using eFiat token, verified by our blockchain system;
  • anyone can create a digital asset in the form of ERC20 and the transaction can be settled by our blockchain;
  • a blockchain-based database for storage and querying of large amount of data;
  • a user-friendly interface that doesn’t require strong technical knowledge, and can be used to establish contract utilizing blockchain technology in everyday life; and
  • transaction fees can be earned by an authorized party when verifying transactions if they become a node in our blockchain, providing their computing power.

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