Blockchain and cryptocurrency, once unknown quantities, are really starting to hit their stride. There are many digital cryptocurrency wallets on the market and talk of crypto and blockchain solutions are not just linked to the tech fringe, but are now ubiquitous in the mainstream. Having gained currency, so to speak, in the wider community, the obvious question arises; how can we improve the speed of transactions to suit the needs of users?
The New Blockchain Saviour
There is more than one answer to this complex question. First, public blockchains experience slow transaction speeds and confirmations, and don't provide users with confidentiality or privacy. Secondly, fintech companies simply can't handle the growing bandwidth needed to support increased transactions, and this leads to bottlenecks. As a result, most banks and retailers will only accept transactions that are centrally verified. This greatly increases the risk of hacking. At a stroke, there is one multicurrency digital wallet that has solved all these aforementioned problems, allowing users to hold, exchange and pay with crypto and fiat currencies. This fully functioning wallet, already available on iOS and Android, is called VivusPay.
Why VivusPay is Simply the Best
The thing that really makes VivusPay successful is its usability. Those confirmation bottlenecks are a thing of the past as VivusPay, powered by Optherium Labs, leverages Hyperledger Fabric and the MultiDecentralized Private Blockchains Network, to eclipse speeds of 100,000 transactions per second (TPS). If we consider the nearest competition of Visa at 24,000 (TPS) or Ripple at 1,500 (TPS) then it is clear there is no comparison. Moreover, with VivusPay you never have to wait for a transaction to be confirmed; confirmations occur instantly, instead of in a matter of days.
With VivusPay hooked up to your bank account, you can exchange, transfer and pay at any point of sale using fiat or crypto currencies, with all conversions confirmed instantly for the user through use of Optherium's OPEX tokens. Furthermore, with the soon to be released Optherium Mastercard, cryptocurrencies will be instantly exchanged to withdraw hard currency from any ATM in the world!
While the benefits for consumers are obvious, Optherium also offers blockchain-based solutions for the business world. Through the Optherium Ecosystem, enterprises can leverage white labelled services, which can be tailored specifically to a business's interests.
VivusPay and the Optherium Ecosystem
It doesn't really do justice to say that VivusPay is simply an app. Rather, it's the face of the Optherium Ecosystem, a MultiDecentralized Private Blockchains Network that is comprised of many different features. The Ecosystem is the muscle that allows VivusPay to run securely, quickly and efficiently. So how does VivusPay stack up against other digital wallets? Well, as we can see, assets are both decentralized and run on a private network. That means no central repository to be hacked into and total security for users. It also allows you to establish a biometric template, meaning your unique features alone can access services through Know Your Customer (KYC) protocols. Optherium's patented Dynamic Biometrics and KYC allow users to recover their private keys. This Key Recovery Service (KRS) has far reaching effects in an industry where so much crypto has been stolen, or a person has simply forgotten their private key, barring them from accessing their digital assets. Now, a person's voice and a fingerprint can be used to get to their private key and restore any assets lost in a compromised wallet.
Just the Beginning
With something as complex as VivusPay, backed by Optherium's global finance blockchain infrastructure, it is very difficult to get one's head around all the innovations that have been achieved here. In short, we have a multicurrency fiat and crypto wallet that is ultra secure and can make and receive global payments in the blink of an eye. Imagine sending Bitcoin from America to your friend in Australia who chooses to receive it in Australian dollars. This is only the start of something huge, which you can be a part of from the beginning. Optherium Labs starts its Whitelist collection soon, so don't miss out! If you want to find out more, hop on the Telegram channel and get all the latest news about Optherium and other developments in the crypto sphere.