GRAFT - Universal Payment Processing Network

[graft-project]

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.
GRAFT is short for Global Real-time Authorizations and Fund Transfers, but also represents grafting of the new into the old.
GRAFT Blockchain is built on the idea that the payment industry can benefit tremendously from the democratization brought forward by the blockchain technology, but only when the right technologies are chosen and combined with the accepted industry workflows and systems.
When done correctly, this transition to blockchain-based payments will lead to radically improved credit/debit payment system through the combination of lower transaction fees, tight privacy controls, low rates on credit balances, and connected extra services.
GRAFT Blockchain is a socially responsible organization, introduces a decentralized, real-time payment processor and services platform into the global market covering a wide variety of credit and debit payment use cases.
GRAFT software that is not subjecto to shared intellectual property (IP) or under an NDA is under an open source license. GRAFT Foundation is a non-for-profit entity, and we intend to operate as such unless we’re forced to change status by the governing laws of the land.



Impact
We believe a Blockchain like GRAFT can have a far reaching social and economic impact, removing friction from the systems and enabling new use cases. To provide a few examples:
Many new merchants (especially small businesses) able to offer electronic payments
Underbanked consumers able to get a credit facility and pay electronically
Consumers able to save on variety of fees such as international transaction fees
Businesses that conventional banks won’t underwrite able to offer credit and electronic payments
Consumers benefitting from significantly lower credit card borrowing costs resulting from peer lending


Website
https://graft.network

White Paper
Graft_White_Paper_2.01_May_2018.pdf

Telegram
https://t.me/joinchat/EneBw0RALAOjkSL2mdt2Gw

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

Exchanges
Cryptopia
Trade Ogre
Stocks.Exchange

Technical Details
Blockchain: CryptoNote
Hash Algorithm: CryptoNight
Block time: 120 seconds
Block  Reward: recalculated every block
Difficulty : recalculated every block
Maximum supply: 1,844,674,400
Transaction confirmation: instant
Supernode Proof: PoW + PoS


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

Transaction
Authenticated transfer fee: 0
Micropayment fee (less than 10 GRAFT): 0.1% of Tx amount (charged to recipient)
Payment fee (10 GRAFT and more): log₁₀₀₀ (Tx amount) (charged to recipient)



Emission and block reward curves  

[1714212796]

1714212796

[1714212796]

1714212796

[1714212796]

1714212796

[1714212796]

1714212796

[1714212796]

1714212796

[kamiyama]

What is the amount of graft coin required for Supernode?

[basket ball]

Indonesian translator reserve

[graft-project]

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.

[elegant_joylin]

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

[mainconcept]

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?

[ParmaBTC]

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

[graft-project]

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

[Cryptowalk]

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.

[graft-project]

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.

[ngocbkcse]

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.

[graft-project]

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-project]

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-project]

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-project]

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.

[ngocbkcse]

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.

[jacafbiz]

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

[graft-project]

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

[cewekimut]

All available bounties are interesting, but I think it lacking 1 bounty, that is a signature campaign bounties.

[fcmatt]

i'm interested to this ICO, and what will be rate of the coin in ICO and PRE-ICO