Cryptss #CRY Token
Release date October 20 2022 V1.1
With decentralized applications offering many services in areas such as finance platforms, financial institutes, and Insurance there is a need for them to access data and trigger events via traditional web APIs. However, generic solutions fail to provide the proper API connectivity due to their general approach. The CRYPT Project is striving to create a new generation of blockchain-native, decentralized fintech ecosystem APIs - dAPIs - which are more secure and cost-efficient than other solutions relying on intermediaries. At its core, the #CRY token will be used as the governing rights over the #CRYPT DAO and associated rewards, while also providing collateral for an on-chain insurance service with trustless security assurances for dAPI users. This project eliminates the need for a central authority within the ecosystem and enables smart contract platforms to utilize APIs for building meaningful applications in a highly secure, decentralized manner.
CRYPTSS #CRY tokens are a new form of digital rewarding currency that has become increasingly popular in recent years. The rise in popularity of crypto tokens has been driven by their utility as a medium of the Fintech Ecosystem and the way they provide rewards through fintech services, secure storage, and transfer of value across the globe.
CRYPTSS is an Open API Platform that empowers Financial Ecosystem Services by creating a secure, open-source environment for developing, deploying, and managing financial applications securely. Designed to meet all the requirements necessary for a modern financial platform, CRYPTSS offers exceptional security and privacy, enabling users to receive payments quickly and safely. Transactions facilitated via the platform are immutable and free from any third-party interference or risk; this makes it ideal for decentralized applications such as those related to banking or payment services. With access to a broad set of tools for building customized apps, developers can easily create platforms that address specific needs within their particular sector or industry.
Cryptss #CRY Integrating Blockchain DeFi Platform that empowers Financial Ecosystem Services with Digital banking, Lending, Blockchain API3, web3, Neo Banking, instant Card issuer, Crypto Currency, Payment Gateway, Insure Tech, Regulation Tech, digital wealth investment API’s, ERP fintech & more.
The integrations are done through Cryptss Fintech Ecosystem, and all transactions result in a rewarding system to pay the transaction owner 30-40% CRY tokens, which can use in exchange, for cashback, gift cards, or many other rewarding systems.
The current Fintech services take a huge cut or commission from the consumers, plus exchange rates and other fees, and CRYPT project is here to share the profit with the customers.
At its core, CRYPTSS is built upon three key principles: trustworthiness, scalability and flexibility. As an open source platform designed with blockchain technology at its core, CRYPTSS offers transparency throughout every transaction process – this allows users to monitor progress and verify data authenticity without any manual intervention required. Additionally, CRYPTSS features advanced cryptography which provides robust security against malicious attacks while allowing users complete control over their private keys. This ensures only authorised parties have access to sensitive information stored within each system. On top of this enhanced security layer, CRYPTSS leverages advanced distributed ledger technology (DLT) which promotes high scalability; this enables faster transactions times compared with traditional systems whilst mitigating risk factors associated with conventional finance systems such as centralised points of failure or single points of control.
Another key feature of CRYPTSS is its flexibility; through its open API framework developers can quickly build customised solutions tailored specifically towards their own needs – be it enterprise-level or consumer-facing – without having to worry about infrastructure constraints or compatibility issues inherent in other platforms. Furthermore, CRYPTSS also provides access to numerous libraries containing code snippets which help make development far simpler than ever before; by having a single language across all components developers are able to shorten time-to-market significantly whilst reducing development costs overall; in turn freeing up resources that can be reinvested into creating innovative products and services capable of transforming entire industries.
We are witnessing a new era of decentralized applications that can bridge the gap between the digital and real world, as evidenced by the skyrocketing value brought into DeFi (decentralized finance) with more than $8B total locked in various applications as of September 2020. These applications rely on data feeds to interact with the outside world and gain access to asset prices, enabling them to provide services such as derivative exchanges and lending. Furthermore, these developments indicate that beyond DeFi, there is potential for even more meaningful interactions between decentralized applications and the real world.
Businesses across the world offer a wide range of services through their Web APIs, from providing asset prices to executing traditional financial transactions. For decentralized applications to interact with the real-world, they need access to these kinds of services, yet Web APIs are not natively compatible. Currently, middleman-based solutions are being used as a workaround; but these are centralized, insecure, and expensive. CRY hopes to take the next step in API development, creating a new generation of decentralized APIs or dAPIs that meet the stringent decentralization requirements for Web 3.0 without involving intermediaries. dAPIs will provide secure and cost-effective access to the Web APIs necessary for decentralized applications to interact with the real world.
dAPIs are a secure and cost-effective way to provide traditional API services to smart contracts in a decentralized manner. The setup includes multiple APIs (which refer to services real-world businesses provides), a decentralized network of oracles (run by the API providers themselves) and a governing entity overseeing the oracle network. With CRYT, this system will be taken to the next level through its open and direct governance model. Any CRYT token holder can stake to gain voting rights in the DAO, as well as benefit from dAPI revenue sharing.