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Author Topic: [ANN][PRE-ICO] Graft - credit card and crypto payment processing network  (Read 5547 times)
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Universal Decentralized Payment Processing Network


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August 24, 2017, 04:57:27 AM
 #1




Graft Project

Decentralized, Real-time Credit, Debit, and Crypto Payment Processing Network

What is Graft?
Graft is a global, open-sourced, blockchain-based, decentralized payment gateway and processing platform that anyone can use. Any buyer and merchant can use Graft in a completely decentralized and inexpensive way. Graft ecosystem is open, so anyone can participate by maintaining Graft blockchain and implementing network services. Graft employs payment processing protocols and flows similar to traditional electronic payment systems such as credit, debit, and prepaid cards, which are already familiar to and trusted by millions of users and merchants around the world. This approach enables easier and faster adoption of Graft as a mainstream payment platform, while eliminating the need in centralized intermediaries (payment gateways and processors) currently required to facilitate transactions between buyers and merchants.

Benefits for Buyers (Senders)

No Transaction Fees
Graft transaction fees are always charged to the merchant, just like with traditional credit card payments. Small purchases with cryptocurrency will be finally affordable.

Free Funds Transfers Between Wallets
Neither sender nor receiver pays any fee for limited number of low priority slow funds transfers between wallets.

Universal Mobile Wallet App
The Mobile Wallet user can pay using various cryptocurrencies or credit cards.

Spending Card
The Mobile Wallet user can pay everywhere using traditional debit card associated with multi cryptocurrency wallet.

Crowdfunded Credit
The Mobile Wallet user can instantly request a crowdfunded “credit line”. No credit history checks.

Absolute Privacy
CryptoNote protocol ensures full untraceability, unlinkability, and fungibility of Graft blockchain, where sender address, recipient address, and transaction amount are cryptographically protected and “invisible”. On top of that, Graft adds “one more thing”: it makes even transaction fees invisible to public view.

Zero Knowledge Proof Identity Verification
Some features such as free transfers or crowdfunded credit require user identification and authentication. Zero knowledge proof technology allows users to authenticate without compromising their privacy.  

Benefits for Merchants (Recipients)

Real Time Authorizations (Instant Confirmations)
Transactions are confirmed instantly, within hundreds milliseconds to a few seconds, which enables normal in-store and online checkout process.  

Low Transaction Fees
Fees are charged to merchant to increase buyers conversion rates; those fees are symbolic which enables micropayments.

Special Transaction Types and Smart Contracts
Graft Point of Sale apps support multiple transactions types that are unusual for cryptocurrency. For example pre-authorization and capture that are necessary for ticket booking, hotel check-in, or gas station payment. Schedule or Escrow transactions, which are essentially pre-programmed configurable smart contracts, can help businesses set up periodic remittance and subscriptions.

Free Point of Sale App Accepts All Payment Methods
Free Mobile Point of Sale app accepts various cryptocurrencies and credit/debit cards, which eliminates the need to maintain multiple point of sale apps and wallets.

Merchant Payouts in Local Fiat Currency
Transaction are settled in real time and payouts can be received in local local currency.

Authenticated Buyers
Buyers can confirm their identity in order to unlock some special transaction types which require age verification, for example.  

Benefits for Supernode Owners (Miners)

Block Rewards
Supernode owners receive block rewards. Transaction fees are paid for real time authorizations.

Hosting Service Brokers
Supernode owners receive a share of transaction and service fees charged by service brokers

Website
https://graft.network

White Paper
https://github.com/graft-project/graft-white-paper/blob/master/graft-white-paper-1.02/graft-white-paper-1.02.md

Pre-Sale Discount: 30%

https://www.graft.network/pre-ico/

Extra Pre-Sale Bonuses:
25 grf:token bonus on 500 grf:token purchase
100 grf:token bonus on 1,000 grf:token purchase
300 grf:token bonus on 2,000 grf:token purchase
1,000 grf:token bonus on 5,000 grf:token purchase

Bounty Campaign
Register for our social media Bounty Campaign which starts today: https://docs.google.com/document/d/1Ph2GsiQPq61cZXemS3ixkWm7Z08C0g2dwiLtlC8XzcQ/

Technical Details
Blockchain: CryptoNote
Hash Algorithm: CryptoNight
Block time: 120 seconds
Block  Reward: recalculated every block
Difficulty : recalculated every block
Maximum supply: 18,446,744
Transaction confirmation: instant
Supernode Proof: PoW + PoS

Transaction fees
Authenticated transfer fee: 0
Micropayment fee (less than 10 GRAFT): 0.1% of Tx amount (charged to recipient)
Payment fee (10 GRAFT and more): 1% of log10 (Tx amount) (charged to recipient)


GRAFT ║║║ Decentralized Universal Payment Processor ║║║ GRAFT
ANNOUNCEMENT THREAD▬║║║▬PRE-SALE ENDS ON OCTOBER 15
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August 24, 2017, 05:38:42 AM
 #2

What is the amount of graft coin required for Supernode?

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August 24, 2017, 05:39:52 AM
 #3

Indonesian translator reserve

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August 24, 2017, 06:17:13 AM
 #4

The supernode can initially function as a miner without stake but it won't be able to earn transaction fees or service brokers hosting fees  (only block rewards). The stake is calculated dynamically based on current circulation. It will be growing until the limit (we currently set it to 1000 graft). I cannot tell right now what's going to be the initial stake after the launch as it may change depending on ICO terms.

GRAFT ║║║ Decentralized Universal Payment Processor ║║║ GRAFT
ANNOUNCEMENT THREAD▬║║║▬PRE-SALE ENDS ON OCTOBER 15
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August 24, 2017, 07:36:34 AM
 #5

Pre-ICO starts Sept 15 and when does it ends?
How many coins will be sold during Pre-Ico?
Minimum Pre-ICO target funds?

 
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August 24, 2017, 08:07:20 AM
 #6

So in the twitter campaign i must count the amount of my tweets, retweets and likes and calculate the amount of GRAFT to claim the bounty?

Why making it so difficult?

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August 24, 2017, 09:17:20 AM
 #7

Nice job, this project seems very serious and can reach top 50th on coinmarketcap
I can translate to italian section when ICO ANN is ready
thanks and all my best

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August 24, 2017, 05:50:51 PM
 #8

So in the twitter campaign i must count the amount of my tweets, retweets and likes and calculate the amount of GRAFT to claim the bounty?

Why making it so difficult?

You don't have to calculate, we made this field optional, we will calculate it for you Smiley

GRAFT ║║║ Decentralized Universal Payment Processor ║║║ GRAFT
ANNOUNCEMENT THREAD▬║║║▬PRE-SALE ENDS ON OCTOBER 15
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August 24, 2017, 06:00:46 PM
 #9

It seems over the next couple of months to maybe even a year people will start becoming more open minded about accepting Bitcoin in stores. I have seen lots of online businesses getting involved and think this project could start of the trend of crypto payment services.
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August 24, 2017, 07:22:59 PM
 #10

Pre-ICO starts Sept 15 and when does it ends?
How many coins will be sold during Pre-Ico?
Minimum Pre-ICO target funds?

We are going to make another ann soon with all the details, but below are the main numbers:
For anyone who wants to participate in pre-ICO, we strongly encourage to do a "soft commitment" as pre-ICO will be on "first come / first serve" basis and subject to hard cap:
ico@graft.network

Pre-ICO dates: September 15-22, 2017
Pre-ICO cap: 250,000 GRAFT
Pre-ICO minimum: 100,000 GRAFT
ICO price: 1 GRAFT = 0.00262 BTC
Pre-ICO discount: 30%


GRAFT ║║║ Decentralized Universal Payment Processor ║║║ GRAFT
ANNOUNCEMENT THREAD▬║║║▬PRE-SALE ENDS ON OCTOBER 15
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August 24, 2017, 08:45:08 PM
 #11

We have received a lot of questions via PM about the details of bounty campaign, which are described in separate Google doc.
We post those details directly to allow easy access.

Graft Bounty Campaign
August 23, 2017 — September 22, 2017

During a public stage of Pre-ICO, with our Bounty Campaign you can earn GRAFT coins by helping Graft network grow.
For early marketing and rewarding active participants of our community, we reserve 50,000 GRAFT. The rate is 1 GRAFT is 0.00262 BTC.

How to Participate
Learn here the different ways to participate and submit application for the section you selected. You can submit multiple applications for different sections. We will review your application and allocate your Pre-ICO bounty funds accordingly. After you have completed any of the tasks listed, please submit the claim form:
https://docs.google.com/forms/d/e/1FAIpQLSdX_Qd6oxqQN6wBc44WmhO3OfN-aL0NF1If4CZaE7gTvwgSLg/viewform?usp=sf_link

After Pre-ICO ending on September 22, 2017 you will receive a reward certificate electronically signed by the Graft Foundation. The reward certificate then can be redeemed to GRAFT coins within 30 days after Graft production network launch. The redemption can be done by submitting the reward certificate and providing the Graft wallet address using redemption form:
https://docs.google.com/forms/d/e/1FAIpQLSeM6HMECk0CSmvY9wiTj7m6-3K7btUu4Z9XiLIzA13UJyHKWA/viewform?usp=sf_link

Campaign Categories

Phase 1 (current)
Start date: August 23, 2017; End date: September 22, 2017

Ambassadors - 10,000 GRAFT
Translations and Signatures - 5,000 GRAFT
Twitter - 10,000 GRAFT
Facebook - 10,000 GRAFT
LinkedIn - 2,500 GRAFT
Reddit - 2,500 GRAFT
Media Publications - 10,000 GRAFT

Ambassadors Campaign
Ambassadors Bounty Pool = 10,000 GRAFT
Reward: 200 - 2000 GRAFT, depending on proposed scope

Requirements
Knowledge of the concept and sharing the philosophy of Graft project
Activity in blockchain or/and payment industry for at least 2 years

Responsibilities
Inform the audience of your language group about the concept and philosophy, concept and operational nuances by communicating on subject-related resources and answering questions via e-mail.

To become an ambassador
If you decided to become an ambassador of the Graft project, please apply by email to info@graft.network
In the message specify your personal info (name, country, working language, background in the blockchain or/and payment industry)

Translations and Signatures
Translations Bounty Pool = 5,000 GRAFT

White Paper Translation = 100 GRAFT
https://github.com/graft-project/graft-white-paper/blob/master/graft-white-paper-1.02/graft-white-paper-1.02.md
To become a translator submit your white paper translation application:
https://docs.google.com/forms/d/e/1FAIpQLSdYz5q2_mvKguXfcGCveTHmk1eGpKSTzYxNLBJIiTDTXuv9yg/viewform?usp=sf_link

Announcement or channel translations, signatures: send email to bounty@graft.network

Twitter Campaign
Twitter Bounty Pool = 10,000 GRAFT

Twitter Requirements
Your Twitter account must have at least 100 followers.

Following
Follow Graft official Twitter account @graftnetwork https://twitter.com/graftnetwork, like 2 recent tweets, and retweet the latest tweet: 2 GRAFT

Likes, Retweets, and Mentions
For every Like+Retweet or Mention:
   0.3 GRAFT for 100-200 followers
   0.5 GRAFT for 200-500 followers
   1 GRAFT for 500+ followers

The tweet must contain the following hashtags:
#cryptocurrency #blockchain #payments
You cannot like/retweet or mention more than once a day.

How to Participate
Submit Twitter Application:
https://docs.google.com/forms/d/e/1FAIpQLScNFWK8JLaN6FHKTrF1ZqSZJAS1VfGhp6UwqYUAysjJtZbgAA/viewform?usp=sf_link
We will review your application and allocate your Pre-ICO bounty funds accordingly.

Facebook Campaign
Facebook Bounty Pool = 10,000 GRAFT

Facebook Requirements
Your Facebook account must have at least 100 followers/friends.

Following
Follow official Graft Facebook page https://www.facebook.com/Graft-460292407666720/, like 2 recent posts, and share latest post: 2 GRAFT

Likes, Shares, and Original Post
For every Like/Share or Original Post:
   0.3 GRAFT for 100-200 followers
   0.5 GRAFT for 200-500 followers
   1 GRAFT for 500+ followers

The original post must contain a link to the Graft website or/and Graft Facebook page
You cannot like/share or post more than once a day.

How to Participate
Submit Facebook Application:
https://docs.google.com/forms/d/e/1FAIpQLSep8M3kckievplxnGYYpJ59PkASPA4cCKIgjfOfQY6NxEkThA/viewform?usp=sf_link
We will review your application and allocate your Pre-ICO bounty funds accordingly.

LinkedIn Campaign
LinkedIn Bounty Pool = 2,500 GRAFT

LinkedIn Requirements
Your LinkedIn account must have at least 100 followers.

Following
Follow official Graft LinkedIn page https://www.linkedin.com/company-beta/24791196/, like 2 recent posts, and reshare latest post: 2 GRAFT

Likes, Shares, and Original Posts
For every Like/Share or Original Post:
   0.3 GRAFT for 100-200 followers
   0.5 GRAFT for 200-500 followers
   1 GRAFT for 500+ followers

The original post must contain a link to the Graft website or/and Graft LinkedIn page
You cannot like/share or post more than once a day.

How to Participate
Submit LinkedIn Application:
https://docs.google.com/forms/d/e/1FAIpQLScnkiv1zwRpmEAxeT-8x5uEFhsGU8-1KdzMiMLtl7uZkdapEQ/viewform?usp=sf_link
We will review your application and allocate your Pre-ICO bounty funds accordingly.

Reddit
Reddit Bounty Pool = 2,500 GRAFT

Following and Upvoting
Follow Graft official Reddit account u/graft-project https://www.reddit.com/user/graft-project/ and upvote its posts: 2 GRAFT

Posts and Upvotes
Post a topic about Graft on Reddit and include a link to Graft website or/and Graft reddit account u/graft-project https://www.reddit.com/user/graft-project:
- If the post gets over 2 upvotes: 0.3 GRAFT
- If the post gets over 5 upvotes: 0.5 GRAFT
- If the pos gets over 10 upvotes: 1 GRAFT

Reddit Requirements
Reddit account must have at least 20 karma.
You cannot post more than twice a day.

How to Participate
Submit Reddit Application:
https://docs.google.com/forms/d/e/1FAIpQLSd35v8RKPXrpsJHyHwTCLWhALwNKAO5JJajhafV6lKRXgl_eg/viewform?usp=sf_link
We will review your application and allocate your Pre-ICO bounty funds accordingly.

Media Publications
Media Bounty Pool = 10,000 GRAFT

If you publish an article about Graft on the website of a big media outlet, you will earn 100 GRAFT or more, depending on the quality or the article and the reach of the media outlet. We will rate every article separately. If you want an estimation of reward received prior to posting the article, submit your article text and the name of the media outlet via e-mail: info@graft.network. You can claim your reward by submitting an article link to the same email.

GRAFT ║║║ Decentralized Universal Payment Processor ║║║ GRAFT
ANNOUNCEMENT THREAD▬║║║▬PRE-SALE ENDS ON OCTOBER 15
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August 25, 2017, 05:38:05 AM
 #12

Q: Why is GRAFT more expensive than other tokens I've purchased recently?

A: You shouldn't be comparing GRAFT to Ethereum based TOKENS - those are a currency on top of another currency. Similar to Bitcoin, GRAFT's emission (supply) is limited to 18,446,744 coins after every coin is mined. What this means is that we have to make sure that the coin is valued properly at each step of the way, providing reasonable entry price, ICO value, and a healthy upside for appreciation.

GRAFT ║║║ Decentralized Universal Payment Processor ║║║ GRAFT
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August 25, 2017, 05:56:07 AM
 #13

Don't post Graft bounty at here. You should post it in Marketplace (Altcoins) - Bounties (Altcoins) where all ICO projects're promoting. I'm sure a lot of people will join here.
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August 26, 2017, 02:25:44 AM
 #14

Don't post Graft bounty at here. You should post it in Marketplace (Altcoins) - Bounties (Altcoins) where all ICO projects're promoting. I'm sure a lot of people will join here.


Already posted the bounty campaign in Marketplace (Altcoins) - Bounties (Altcoins). Thanks.

GRAFT ║║║ Decentralized Universal Payment Processor ║║║ GRAFT
ANNOUNCEMENT THREAD▬║║║▬PRE-SALE ENDS ON OCTOBER 15
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August 26, 2017, 02:41:59 AM
 #15

How Graft Zero-Fee Transaction is Possible, and Why Other Cryptocurrency Networks Cannot Afford Free Funds Transfers?

Many payment systems such as ACH or PayPal allow free transfers between user accounts which create a huge incentive comparing to cryptocurrencies, which charge users unproportional fees regardless the speed and amount of transaction. This feature is perfectly suitable for transactions with low speed requirements, such as funds transfers between family accounts or remittance of employees' salaries. In order to be able to compete with traditional payment networks, Graft provides limited free transfers between user wallets.

Bitcoin and most other cryptocurrency networks usually cannot "afford" free transactions for three major reasons:

  • Lack of incentive for miners
  • Threat of DOS attacks
  • Uncontrolled growth of blockchain

Graft resolves the first problem by logical separation between payment and transfer, so supernodes (miners) receive transaction fees for instant payments which constitute the majority of all transactions, while free transfers are processed “on the background” with lower priority.

The second problem with DOS threat is resolved by voluntary user identification and authentication. Of course, there are no free lunches, so the users should "pay" by providing their identity to the network to ensure the reasonable use (by limiting the number and frequency of free transfers per user) and prevent the network abuse. However, using zero knowledge proof authentication technology will allow users to prove their identity without compromising their privacy.

The last problem with uncontrolled block size growth is resolved by a complex of measures: small block interval, unlimited block size, and standard restricted transaction size for particular transaction types such as free transfer. In addition, one of the sides of the free transfer must prove that they contributed to the network by conducting “commercial” payment transaction types in the past.

Learn more about the project from Graft White Paper: https://github.com/graft-project/graft-white-paper/blob/master/graft-white-paper-1.02/graft-white-paper-1.02.md

Find answers to many questions in Graft FAQs: https://www.graft.network/faqs

Participate in Pre-ICO: https://www.graft.network/pre-ico

Join Graft Reddit Community: https://www.reddit.com/r/Graft/

GRAFT ║║║ Decentralized Universal Payment Processor ║║║ GRAFT
ANNOUNCEMENT THREAD▬║║║▬PRE-SALE ENDS ON OCTOBER 15
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August 26, 2017, 10:01:09 PM
 #16

What is the amount of graft coin required for Supernode?

Here are additional details regarding the supernodes.

We call it supernode because it performs more functions than “traditional” network node, and there are different requirements for supernode owners. Yes, Graft network is open and decentralized, and anyone will be able to run a supernode, but there are different levels of supernode and different conditions (and rewards) associated with each level.

  • Proxy Supernode is the “entry level” - everyone can install the supernode software and host Relay supernode. The only requirement is public IP, but this can be achieved even with home network. Proxy supernode does not mine or provide services, but it can be useful for several purposes; for example, as a trusted relay for those who have highest privacy requirements, so they can host their own “wallet server”, or for large merchants as a “store server” for even faster transaction processing.
  • Miner Supernode can generate revenue by earning block rewards. The only requirement (in addition to public IP) is higher computing power required for PoW mining. Miner supernode is the last step before the next and highest level.
  • Full Supernode is both miner and service provider. It cannot perform its instant authorization functions or service brokerage (credit card acceptance, for example) without mining. In addition, performing Full functions requires a stake - collateral balance associated with supernode address. Hence combined PoW/PoS. Miner supernode can mine without a stake but it won’t be able to provide services, i.e. it won’t be able to earn transaction and service fees. Note that Graft miner does not receive transaction or service fees, only block rewards. Transaction and service fees are only paid to Full supernode that mines, has a stake, issues instant approvals, and hosts network service brokers.


GRAFT ║║║ Decentralized Universal Payment Processor ║║║ GRAFT
ANNOUNCEMENT THREAD▬║║║▬PRE-SALE ENDS ON OCTOBER 15
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August 27, 2017, 10:31:45 PM
 #17

Are tenx and others crypto cards competitors?

Yes and no. They are competitors just to the single feature of Graft network - spending debit card - which is just one of the ways Graft is going to enter the mainstream payments. We think about both sides of typical payment transaction: buyer and merchant. Tenx only cares about the buyer, which is definitely important. But what about merchants who want to accept both traditional payments (such as credit/debit cards including tenx) and cryptocurrencies? In order to do that, today merchants must maintain multiple point of sale, payment terminals, and wallet apps which is very impractical. Graft point of sale app accepts both cards and crypto, and convert payouts (payments for proceeds from purchases) to local fiat currency if needed. Another important point - Graft CryptoNote-based blockchain is absolutely private: sender address, recipient address, and transaction amount are encrypted on blockchain and therefore hidden from public view. On top of that, Graft also adds encrypted (hidden) transaction fees which are visible to blockchain reviewers in all existing CryptoNote implementations.

GRAFT ║║║ Decentralized Universal Payment Processor ║║║ GRAFT
ANNOUNCEMENT THREAD▬║║║▬PRE-SALE ENDS ON OCTOBER 15
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August 28, 2017, 04:57:36 AM
 #18

Don't post Graft bounty at here. You should post it in Marketplace (Altcoins) - Bounties (Altcoins) where all ICO projects're promoting. I'm sure a lot of people will join here.


Already posted the bounty campaign in Marketplace (Altcoins) - Bounties (Altcoins). Thanks.
No problem. I see the first post at ANN thread, It is too monotonous and unattractive. i recommend you should combination of images and text as soon as you become jr. member.
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August 28, 2017, 05:28:39 AM
 #19

So many card related projects popping up in the space and this look like another take my money and run. There is no offering from the team that differentiate it from the existing ones, and the list seems to be growing per week

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August 28, 2017, 03:15:26 PM
 #20

So many card related projects popping up in the space and this look like another take my money and run. There is no offering from the team that differentiate it from the existing ones, and the list seems to be growing per week

Thank you for your interest in Graft project!
What part of our project description made you think this is "take my money and run" project? Maybe we could clarify and answer your particular questions/concerns. We would like to be as much transparent as we can, and we are open to any ideas and comments that would help improve our transparency.
We have published the comparison with other cryptocurrencies and PayPal, but perhaps you are right, we should add another table comparing Graft to other offerings in the same space. We will publish such a comparison soon - thank you for the idea! Meanwhile, please let us know if you have any specific questions or concerns, we will try to answer each one of them.

Current comparison table:
How Graft is Different from Other Cryptocurrencies and Why is it Better for Payment Processing Applications
https://www.graft.network/single-post/2017/08/20/How-Graft-is-Different-from-Other-Cryptocurrencies-and-Why-is-it-Better-for-Payment-Processing-Applications

GRAFT ║║║ Decentralized Universal Payment Processor ║║║ GRAFT
ANNOUNCEMENT THREAD▬║║║▬PRE-SALE ENDS ON OCTOBER 15
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