TRANZACT is excited to announce that Aflac named us one of their Partners of the Year. Aflac is Fortune 500 company that provides financial protection to more than 50 million people worldwide, and TRANZACT is honored to be recognized for such a prestigious award.

TRANZACT: The Leader in Direct to Consumer Insurance Marketing ...

Hear how one company made changes to their transportation philosophy and practices to achieve savings. TranzAct helps shippers like you reduce their transportation spend while providing the tools necessary to make better business decisions on an ongoing basis.

Transportation Spend Management & Supply Chain Solutions: TranzAct

TRANZACT | 9,415 followers on LinkedIn. TRANZACT, a Willis Towers Watson Company is the market leader in delivering high-volume sales for the top insurance brands in America. We reach millions of consumers a week. We help the leading consumer insurance brands grow quality direct-to-consumer ...

TRANZACT | LinkedIn

I wish we had discovered TranZact sooner!!! ... Simplicity of the solution is amazing. Training and implementation is completed in 3 weeks. ... It&#x27;s straightforward and user-friendly, boasting the capabilities of an established ERP, making it ideal for our SME Company

Digital Transformation Tool for SME | TranZact

For technical assistance with TranZact - Please call Member Services (800) 442-5763, option 1.

TranZact - Login

TranzactCard is in the process of registering as a franchise offering in all 50 U.S. States. This presentation contains forward-looking information and there are no guarantees that the Company’s development of business, projects, and contractual relationships will materialize as projected.

TranzactCard

I started with Tranzact last year in the middle of lock in. The first thing I thought was, &quot;wow this training is overkill&quot;. Then I hit the phones as a qualifying agent. That is when I quickly learned all the training was well worth it and needed. The company spends a TON of time training you ...

Working at TRANZACT: 300 Reviews | Indeed.com

MG LLC, a provider of sales and marketing services to insurance companies that does business as Tranzact

TRANZACT - Crunchbase Company Profile & Funding

We offer a well-rounded suite of marketing solutions to help insurance companies stay ahead of the competition. When you partner with TRANZACT, you don&#x27;t have to guess at which marketing tools are best for your business, we offer everything you need in one complete package.

What We Do | Tranzact

See Instagram photos and videos from TRANZACT (@wearetranzact)

TRANZACT (@wearetranzact) • Instagram photos and videos

We&#x27;re pleased to serve a range of clients from Fortune 100 companies to startups, helping them create efficient and robust supply chains. As a woman-owned business, we are also certified by the WBENC. TranzAct has expanded over the years to provide service around the globe, and continues to ...

About TranzAct: Leading Provider of Logistics Solutions

Carriers can upload invoices and back-up paperwork directly into TranzAct’s system by visiting http://mytranzactcarrier.tranzact.com. The carrier receives an e-mail confirmation that the invoice upload was successfully received by TranzAct’s system. If the invoice is subsequently rejected, ...

Carrier Invoicing - Submitting Invoices and Balance Dues

Tranzact, inc. is a recycler of high temperature and minor metals including molybdenum, tungsten, tantalum, rhenium, hafnium, niobium and chromium.

Tranzact, Inc. - Refractory Metal Supplier

We all have a voice. Employees at all levels are encouraged to speak up and be involved in every aspect in shaping the future of our organization. Allison Bastone Project Manager

Careers | Tranzact

You need help to find the best rates and reliable service. For all of your freight needs, including last-minute, seasonal, and hard-to-move loads, contact the team at TranzAct Logistics. We evaluate multiple shipping criteria including cost control, service commitments and special shipping ...

TranzAct Logistics

105 reviews from TRANZACT employees about TRANZACT culture, salaries, benefits, work-life balance, management, job security, and more.

Working at TRANZACT in Tampa, FL: 105 Reviews | Indeed.com

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Tranzact by Zayo®

Find out what works well at TRANZACT from the people who know best. Get the inside scoop on jobs, salaries, top office locations, and CEO insights. Compare pay for popular roles and read about the team’s work-life balance. Uncover why TRANZACT is the best company for you.

TRANZACT Careers and Employment | Indeed.com

Depending on which office you work ... frequent company lunches. We offer a comprehensive benefits package to our employees, including health, dental, vision and short and long term disability insurance. Some of our offices also have on-site gyms to help our employees reduce stress and stay in shape. To help ensure our employees are getting the most from their careers at TRANZACT, we offer ...

Who We Are | Tranzact

TranzAct Technologies Inc. ... When supply chains are viewed as an asset instead of an anchor, companies are more likely to invest in optimizing them because of how it can impact their financial results. Read more here: https://hubs.la/Q029GZt50 #Logistics #LogisticsManagement #SupplyChain ...

TranzAct Technologies Inc. | LinkedIn

We are on a mission to digitize millions of Indian SMEs so they can grow better

TranZact

Software engineering is easier than we think because sometimes the answers are simple and many times right before our eyes. FastAPI has been instrumental to me in understanding backend engineering and thinking about processes and how stuff can and should work. It is an intelligent tool, however, it is solely dependent on your creativity and the eyes of your imagination. Here is the premise of my generalization. If you have read any of my previous works you would know my backend origin is Django (and its rest framework), and I am grateful for its direction and its design patterns, they have allowed me to modify the wheel to suit my use case. Growing up my pops knew my mind wondered and I wanted to create stuff and my pops always told me you cant reinvent the wheel, modify it. I once worked on a throttled/rate-limited application or endpoint with DRF and it was amazing, I learnt something new and I was intrigued (earlier in my career). The throttle in this case affected the endpoints I applied it on, recently I was interested in doing something similar in FastAPI, and I first took the easy route (google for the win) and saw that there are packages that exist that perform the throttle action. I personally felt they provided the same comfort and familiarity that I had when I used Django. They did not offer the flexibility I wanted (or maybe I was lazy about doing some overrides), so I then sat and architected a solution. So let's look into the code. I will not be providing information on getting started with FastAPI and doing a lot getting up to speed I will assume you can do this, if you cant check the best resources on getting started with FastAPI ( , ) Disclaimer: Video tutorial Doc Tutorial Demo Application: Tranzact some Fintechy (bare bones) app. So let's create a table called Tranzact that can be used to create Tranzact data records and an API-Key would be generated to be able to identify distinct Tranzact records. This Table and application leverage SQLAlchemy, so check out the documentation. Here is the Router. We can Perform CRUDy operations in the router, (If the application looks weird I will make another post on the design pattern here called Repository Design pattern). This is the endpoint that an API-Key speaks to, this API key serves as the authentication to perform some actions. What we can see is there is a dependency that points to a transact record. Let's examine the tranzact_header dependency and check the calls. This recognizes the API_Key and returns the tranzact record associated with an api_key. So to solve the challenge of individualized throttling, I resolved that while creating a record for the tranzact table. I create a record with the tranzact.id and a count with a default of 0 to the table of tranzact rate limit. Here is the table below. So with this solution, I needed a way to track the rate limit record, with API_KEY we can increase count incremental based on each call and throttle based on the freemium role that tranzact record have. Here is what the function looks like. So with this function, we can do some QA and check based on a flag and with the count. This depends on the api_header function. We then swap out the dependency in the API call endpoints with the throttle API rate limit function. We can do that because they both return the same Tranzact record. To understand more about the dependencies and their call with FastAPI check out this point of the . documentation Here is a test case in my postman. Setting up the API_KEY for my collection in postman. Below is the throttled response for a request call that has reached the capped number, meaning that another api_key will respond differently giving up the desired response, plus if the tranzact record is premium it by-passes the throttle check. So this is how I created singular DB record throttle, the concluding stage of my implementation includes using a celery beat job (a scheduled job/task) to revert all tranzact rate limit record count to zero on the hour. This is a personal implementation others can be done. In conclusion, take my words below with a light heat heart but it is my truth. Any product/feature that you can see, imagine or conceptualized irrespective of its complexity we can build, once we can see it FastAPI can help us bring it to life. Also published here.

How to Architect Individual Throttles for Users and Tables in FastAPI

Cómo diseñar aceleradores individuales para usuarios y tablas en FastAPI

Comment concevoir des limitations individuelles pour les utilisateurs et les tables dans FastAPI

FastAPI में उपयोगकर्ताओं और तालिकाओं के लिए अलग-अलग थ्रॉटल कैसे बनाएं

FastAPI でユーザーとテーブルの個別のスロットルを設計する方法

Como arquitetar aceleradores individuais para usuários e tabelas no FastAPI

Cách kiến trúc các điều tiết riêng lẻ cho người dùng và bảng trong FastAPI

如何在 FastAPI 中为用户和表构建单独的限制

HONG KONG, Hong Kong, July 21st, 2024/Chainwire/--SoMon, a decentralized Web3 forum with a vision to create a space for user-owned content and connections, recently launched its app on Base and has already gained more than 300,000 on-chain transactions in 14 days since its launch, making it the most active and fastest-growing social app in the Web3 space. SoMon, short for Social Monster, allows users to monetize and create communities (Tribes) around their favorite topics, passions, creators, and fandoms. It is the first app built on OpenSocial Protocol, a composable infrastructure layer for building social applications, and also the first Web3 social app that is truly gasless, allowing it to lower the barrier of entry and onboard users beyond the crypto community. Having launched its mobile app on 19 June 2024, around a month ago, it has garnered over 30,000 on-chain registrations in just two weeks. Today, the community is growing rapidly, with over 2 million social engagements among 300+ different Tribes (communities) and its 80,000+ users. “Crypto is all about community, but instead of creating communities for users, we want communities to be built by users. SoMon is a user-curated space where people are able to connect with one another while taking charge and reaping the benefits of their own social achievements at the same time,” said Sean Tao, CEO & Co-Founder of SoMon. SoMon users started minting their own Tribes using various tools and fragmented ownership powered by NFT technology after the new feature was released on 17 July 2024. Users create content, and the platform is monetized through a tool called ‘Megaphone’, allowing users to pay for promotional visibility, with the revenue being redistributed to Tribe owners and stakeholders. SoMon is currently in its first season, ending on 31 July 2024. In this season, users compete to gain points through interactions and earn badges by climbing to different leagues. At the end of the season, SoMon will officially launch its community token, $OwO, which will be airdropped to the community at the end of the first season, with the first airdrop releasing 3% of its total supply this 1 August 2024, and 1% of its total supply for the subsequent seasons. During upcoming seasons, SoMon is focused on activating the community economy via Tribe Summer campaign for users to create and engage with their bot-free community. About SoMon Social Monster (SoMon) is an open topic-based Web3 social app forum powered by OpenSocial Protocol. It serves as a space where users can create vibrant and engaging communities (Tribes) centered around their passions and fandoms. SoMon ensures that Tribes, content, and social connections are wholly owned by users. Contact Public Relations Manager Kelvin Yeo Jun Hao Everest Ventures Group kelvin.yeo@evg.co This story was distributed as a release by Chainwire under HackerNoon’s Business Blogging Program. Learn more about the program here. HONG KONG, Hong Kong, July 21st, 2024/Chainwire/--SoMon, a decentralized Web3 forum with a vision to create a space for user-owned content and connections, recently launched its app on Base and has already gained more than 300,000 on-chain transactions in 14 days since its launch, making it the most active and fastest-growing social app in the Web3 space. SoMon, short for Social Monster, allows users to monetize and create communities (Tribes) around their favorite topics, passions, creators, and fandoms. It is the first app built on OpenSocial Protocol, a composable infrastructure layer for building social applications, and also the first Web3 social app that is truly gasless, allowing it to lower the barrier of entry and onboard users beyond the crypto community. Having launched its mobile app on 19 June 2024, around a month ago, it has garnered over 30,000 on-chain registrations in just two weeks. Today, the community is growing rapidly, with over 2 million social engagements among 300+ different Tribes (communities) and its 80,000+ users. “Crypto is all about community, but instead of creating communities for users, we want communities to be built by users. SoMon is a user-curated space where people are able to connect with one another while taking charge and reaping the benefits of their own social achievements at the same time,” said Sean Tao, CEO & Co-Founder of SoMon. “Crypto is all about community, but instead of creating communities for users, we want communities to be built by users. SoMon is a user-curated space where people are able to connect with one another while taking charge and reaping the benefits of their own social achievements at the same time,” said Sean Tao, CEO & Co-Founder of SoMon. SoMon users started minting their own Tribes using various tools and fragmented ownership powered by NFT technology after the new feature was released on 17 July 2024. Users create content, and the platform is monetized through a tool called ‘Megaphone’, allowing users to pay for promotional visibility, with the revenue being redistributed to Tribe owners and stakeholders. SoMon is currently in its first season, ending on 31 July 2024. In this season, users compete to gain points through interactions and earn badges by climbing to different leagues. At the end of the season, SoMon will officially launch its community token, $OwO, which will be airdropped to the community at the end of the first season, with the first airdrop releasing 3% of its total supply this 1 August 2024, and 1% of its total supply for the subsequent seasons. During upcoming seasons, SoMon is focused on activating the community economy via Tribe Summer campaign for users to create and engage with their bot-free community. About SoMon Social Monster (SoMon) is an open topic-based Web3 social app forum powered by OpenSocial Protocol. It serves as a space where users can create vibrant and engaging communities (Tribes) centered around their passions and fandoms. SoMon ensures that Tribes, content, and social connections are wholly owned by users. Contact Public Relations Manager Kelvin Yeo Jun Hao Everest Ventures Group kelvin.yeo@evg.co This story was distributed as a release by Chainwire under HackerNoon’s Business Blogging Program. Learn more about the program here. This story was distributed as a release by Chainwire under HackerNoon’s Business Blogging Program. Learn more about the program here . here here

SoMon Becomes Fastest-Growing Web3 Social App With 300,000 Transactions In Two Weeks

SoMon দুই সপ্তাহে 300,000 লেনদেনের সাথে দ্রুততম বর্ধনশীল Web3 সামাজিক অ্যাপ হয়ে উঠেছে

SoMon wird mit 300.000 Transaktionen in zwei Wochen zur am schnellsten wachsenden Web3-Social-App

SoMon se convierte en la aplicación social Web3 de más rápido crecimiento con 300.000 transacciones en dos semanas

SoMon devient l'application sociale Web3 à la croissance la plus rapide avec 300 000 transactions en deux semaines

सोमन दो सप्ताह में 300,000 लेनदेन के साथ सबसे तेजी से बढ़ने वाला वेब3 सोशल ऐप बन गया

SoMon は 2 週間で 30 万件の取引を達成し、最も急成長している Web3 ソーシャル アプリになりました

SoMon은 2주 만에 300,000건의 거래를 기록하며 가장 빠르게 성장하는 Web3 소셜 앱이 되었습니다.

SoMon se torna o aplicativo social Web3 de crescimento mais rápido, com 300.000 transações em duas semanas

SoMon становится самым быстрорастущим социальным приложением Web3 с 300 000 транзакций за две недели

SoMon, İki Haftada 300.000 İşlemle En Hızlı Büyüyen Web3 Sosyal Uygulaması Oldu

SoMon trở thành ứng dụng xã hội Web3 phát triển nhanh nhất với 300.000 giao dịch trong hai tuần

SoMon 成为增长最快的 Web3 社交应用，两周内交易量达 30 万笔

Incredibly, 75 percent of all financial transactions worldwide are now made digitally. With the development of mobile payments, transactional practices have experienced a substantial transformation that has improved convenience in our everyday lives. Given its capacity to enable mobile payments, online shopping, and easy bill sharing between pals, it's hardly surprising that mobile payment platforms have become so popular. Also, according to recent statistics, global digital payment volumes are predicted to reach 5.4 trillion transactions by 2025, while in 2020, the global mobile digital payments market was valued at approximately 4,109 billion dollars. However, this speed of use comes at a price, as cybercriminals continue to modify and improve their tactics to take advantage of weaknesses in mobile payment systems. These security flaws have caused a serious growth in mobile payment fraud, posing high risks to businesses and consumers. Even a single mobile application security breach can have far-reaching consequences. These include significant financial loss, the exposure of personal information that might be used for identity theft, and significant damage to a company's brand that could ultimately result in a loss of customer trust. A strong payment security plan is essential for any business's success, whether you have an online shop, a traditional brick-and-mortar store, or a Software as a Service (SaaS) provider. In this article, I will explain the steps to create and implement a strong payment security system. Understanding the Cyber Risks in Online Payments Cybercriminals are always looking to take advantage of online payment systems to get sensitive data, including credit card numbers and personal information. These hacks cause financial losses for companies as well as customers, and they also damage people's faith in online payment methods. For example, identity theft occurs when criminals use stolen personal information to carry out fraudulent transactions. Phishing tactics are designed to trick people into divulging personal information. Other common forms include card-not-present (CNP) fraud, account takeovers, and the use of software flaws to plan fraudulent transactions. Best Strategies for Safeguarding Digital Transactions Encryption Encryption guards against theft, manipulation, and unauthorized access to critical consumer data and financial transactions. The two main types of encryption are asymmetric and symmetric. In asymmetric encryption, sometimes referred to as "public-key encryption," two keys are used: a public key for locking and a private key for unlocking the data. Symmetric encryption uses the same key for both transactions. Because the private key is not shared, asymmetric encryption is often thought to be more secure. Businesses frequently use encryption protocols, such as Transport Layer Security (TLS) and Secure Sockets Layer (SSL), to safeguard data exchanges that occur between clients' web browsers and corporate platforms, such as websites or payment gateways. To establish a secure connection and guarantee the security of data while it is being sent, SSL/TLS encryption uses both symmetric and asymmetric encryption techniques. Enterprises should utilize strong encryption algorithms, contemporary protocols, and efficient key-management techniques, including regular key rotation and safe storage procedures. Tokenization Tokenization is a strong method of encrypting credit card information. Credit card information is converted into a series of randomly generated characters called tokens. These tokens may be safely exchanged across different stakeholders involved in digital transactions, reducing the chance of interception by malevolent actors. They have no intrinsic value beyond reflecting the original card information. Two-Factor Authentication Enforcing client identity measures during transactions through the integration of two-factor authentication adds a simple yet effective security boost to digital payments. Before completing a transaction, clients must submit an additional digital identity verification form to confirm their identification. In order to finish the transaction, consumers usually need to enter a special code that they get by email or SMS on their smartphone. It's important to make sure that your two-factor authentication solution is smooth and reduces friction in the purchase process to avoid unnecessary steps and possible cart abandonment. Firewalls and Network Security Enforcing client identity measures during transactions through the integration of two-factor authentication adds a simple yet effective security boost to digital payments. Before completing a transaction, clients must submit an additional digital identity verification form to confirm their identification. In order to finish the transaction, consumers usually need to enter a special code that they get by email or SMS on their smartphone. It's important to make sure that your two-factor authentication solution is smooth and reduces friction in the purchase process to avoid unnecessary steps and possible cart abandonment. Conclusion In today's digital economy, payment gateway security is a fundamental pillar of trust, not just an operational detail. Businesses should emphasize a secure online payment gateway for three major reasons: safeguarding client data, upholding a favorable reputation, and avoiding legal ramifications. Effectively combating fraud is essential, but choosing the right partners and payment options is also critical to guaranteeing the security of online transactions. Businesses may prosper and create long-lasting connections with their clients by prioritizing security, which also helps to create an environment of trust and confidence in an increasingly linked world. Incredibly, 75 percent of all financial transactions worldwide are now made digitally. With the development of mobile payments, transactional practices have experienced a substantial transformation that has improved convenience in our everyday lives. Given its capacity to enable mobile payments, online shopping, and easy bill sharing between pals, it's hardly surprising that mobile payment platforms have become so popular. Incredibly, 75 percent of all financial transactions worldwide are now made digitally. With the development of mobile payments, transactional practices have experienced a substantial transformation that has improved convenience in our everyday lives. Given its capacity to enable mobile payments, online shopping, and easy bill sharing between pals, it's hardly surprising that mobile payment platforms have become so popular. Also, according to recent statistics , global digital payment volumes are predicted to reach 5.4 trillion transactions by 2025, while in 2020, the global mobile digital payments market was valued at approximately 4,109 billion dollars. However, this speed of use comes at a price, as cybercriminals continue to modify and improve their tactics to take advantage of weaknesses in mobile payment systems. recent statistics recent statistics These security flaws have caused a serious growth in mobile payment fraud, posing high risks to businesses and consumers. Even a single mobile application security breach can have far-reaching consequences. These include significant financial loss, the exposure of personal information that might be used for identity theft, and significant damage to a company's brand that could ultimately result in a loss of customer trust. A strong payment security plan is essential for any business's success, whether you have an online shop, a traditional brick-and-mortar store, or a Software as a Service (SaaS) provider. In this article, I will explain the steps to create and implement a strong payment security system. Understanding the Cyber Risks in Online Payments Cybercriminals are always looking to take advantage of online payment systems to get sensitive data, including credit card numbers and personal information. These hacks cause financial losses for companies as well as customers, and they also damage people's faith in online payment methods. For example, identity theft occurs when criminals use stolen personal information to carry out fraudulent transactions. Phishing tactics are designed to trick people into divulging personal information. Other common forms include card-not-present (CNP) fraud, account takeovers, and the use of software flaws to plan fraudulent transactions. Best Strategies for Safeguarding Digital Transactions Encryption Encryption guards against theft, manipulation, and unauthorized access to critical consumer data and financial transactions. The two main types of encryption are asymmetric and symmetric. In asymmetric encryption, sometimes referred to as "public-key encryption," two keys are used: a public key for locking and a private key for unlocking the data. Symmetric encryption uses the same key for both transactions. Because the private key is not shared, asymmetric encryption is often thought to be more secure. Businesses frequently use encryption protocols, such as Transport Layer Security (TLS) and Secure Sockets Layer (SSL), to safeguard data exchanges that occur between clients' web browsers and corporate platforms, such as websites or payment gateways. To establish a secure connection and guarantee the security of data while it is being sent, SSL/TLS encryption uses both symmetric and asymmetric encryption techniques. Enterprises should utilize strong encryption algorithms, contemporary protocols, and efficient key-management techniques, including regular key rotation and safe storage procedures. Tokenization Tokenization is a strong method of encrypting credit card information. Credit card information is converted into a series of randomly generated characters called tokens. These tokens may be safely exchanged across different stakeholders involved in digital transactions, reducing the chance of interception by malevolent actors. They have no intrinsic value beyond reflecting the original card information. Two-Factor Authentication Enforcing client identity measures during transactions through the integration of two-factor authentication adds a simple yet effective security boost to digital payments. Before completing a transaction, clients must submit an additional digital identity verification form to confirm their identification. In order to finish the transaction, consumers usually need to enter a special code that they get by email or SMS on their smartphone. It's important to make sure that your two-factor authentication solution is smooth and reduces friction in the purchase process to avoid unnecessary steps and possible cart abandonment. Firewalls and Network Security Enforcing client identity measures during transactions through the integration of two-factor authentication adds a simple yet effective security boost to digital payments. Before completing a transaction, clients must submit an additional digital identity verification form to confirm their identification. In order to finish the transaction, consumers usually need to enter a special code that they get by email or SMS on their smartphone. It's important to make sure that your two-factor authentication solution is smooth and reduces friction in the purchase process to avoid unnecessary steps and possible cart abandonment. Conclusion In today's digital economy, payment gateway security is a fundamental pillar of trust, not just an operational detail. Businesses should emphasize a secure online payment gateway for three major reasons: safeguarding client data, upholding a favorable reputation, and avoiding legal ramifications. Effectively combating fraud is essential, but choosing the right partners and payment options is also critical to guaranteeing the security of online transactions. Businesses may prosper and create long-lasting connections with their clients by prioritizing security, which also helps to create an environment of trust and confidence in an increasingly linked world.

Enhancing Payment Security: Strategies for Safeguarding Digital Transactions

In a relational database, a transaction is a series of operations that must be executed in a way that guarantees ACID properties: Atomicity, Consistency, Isolation, and Durability. Atomicity, the ‘A’ in ACID, ensures that all operations within a transaction are completed; otherwise, none of them are. This guarantees that the system’s state remains consistent even in the face of failures. In monolithic systems, achieving atomicity is straightforward since all operations happen within a single database. However, in microservices and distributed environments, achieving atomicity becomes challenging as transactions span multiple services and databases. Distributed Transactions In a distributed system, a single transaction often involves multiple microservices, each with its own database. Ensuring atomicity in such an environment requires coordination across these services. Distributed transactions are managed using two primary protocols: Two-Phase Commit (2PC): A coordination protocol that ensures all participants in a transaction agree to commit or roll back the transaction. Saga Pattern: A sequence of local transactions where each service updates its data and publishes an event or invokes another service. Two-Phase Commit (2PC) This protocol involves a coordinator who manages the transaction’s commit process in two phases: prepare and commit. In the preparation phase, the coordinator asks all participants if they can commit. If all participants agree, the commit phase begins, and the coordinator instructs them to commit the transaction. If any participant cannot commit, the coordinator instructs all participants to roll back. Pros: Guarantees atomicity and consistency. Cons: Can be slow due to the need for coordination.
Prone to blocking if participants fail to respond. Saga Pattern Instead of a single global transaction, the saga pattern breaks the transaction into multiple smaller transactions, each handled by a different service. If any step fails, compensating transactions are executed to undo the changes made by previous steps. Pros: More scalable and resilient to failures.
Non-blocking. Cons: More complex to implement due to the need for compensating transactions.
Potential for temporary inconsistencies. Challenges and Solutions Network Partitions: Network failures can cause communication issues between services, leading to incomplete transactions. Solutions include implementing retry mechanisms and using distributed consensus algorithms like Paxos or Raft. Data Consistency: Maintaining data consistency across services is challenging. Eventual consistency models and using conflict resolution strategies can help mitigate this issue. Performance Overheads: Distributed transactions can introduce significant performance overheads. Using asynchronous processing and optimizing transaction boundaries can help improve performance. Check out my personal blog for more updated posts. In a relational database, a transaction is a series of operations that must be executed in a way that guarantees ACID properties: Atomicity, Consistency, Isolation, and Durability. Atomicity, the ‘A’ in ACID, ensures that all operations within a transaction are completed; otherwise, none of them are. This guarantees that the system’s state remains consistent even in the face of failures. In monolithic systems, achieving atomicity is straightforward since all operations happen within a single database. However, in microservices and distributed environments, achieving atomicity becomes challenging as transactions span multiple services and databases. Distributed Transactions In a distributed system, a single transaction often involves multiple microservices, each with its own database. Ensuring atomicity in such an environment requires coordination across these services. Distributed transactions are managed using two primary protocols: Two-Phase Commit (2PC): A coordination protocol that ensures all participants in a transaction agree to commit or roll back the transaction. Two-Phase Commit (2PC): Saga Pattern: A sequence of local transactions where each service updates its data and publishes an event or invokes another service. Saga Pattern: Two-Phase Commit (2PC) This protocol involves a coordinator who manages the transaction’s commit process in two phases: prepare and commit. In the preparation phase, the coordinator asks all participants if they can commit. If all participants agree, the commit phase begins, and the coordinator instructs them to commit the transaction. If any participant cannot commit, the coordinator instructs all participants to roll back. Pros: Pros: Guarantees atomicity and consistency. Guarantees atomicity and consistency. Cons: Cons: Can be slow due to the need for coordination. Prone to blocking if participants fail to respond. Can be slow due to the need for coordination. Prone to blocking if participants fail to respond. Saga Pattern Instead of a single global transaction, the saga pattern breaks the transaction into multiple smaller transactions, each handled by a different service. If any step fails, compensating transactions are executed to undo the changes made by previous steps. Pros: Pros: More scalable and resilient to failures. Non-blocking. More scalable and resilient to failures. Non-blocking. Cons: Cons: More complex to implement due to the need for compensating transactions. Potential for temporary inconsistencies. More complex to implement due to the need for compensating transactions. Potential for temporary inconsistencies. Challenges and Solutions Network Partitions: Network failures can cause communication issues between services, leading to incomplete transactions. Solutions include implementing retry mechanisms and using distributed consensus algorithms like Paxos or Raft. Network Partitions: Data Consistency: Maintaining data consistency across services is challenging. Eventual consistency models and using conflict resolution strategies can help mitigate this issue. Data Consistency: Performance Overheads: Distributed transactions can introduce significant performance overheads. Using asynchronous processing and optimizing transaction boundaries can help improve performance. Performance Overheads: Check out my personal blog for more updated posts. personal blog

Ensuring Atomicity in Distributed Systems: Managing Transactions Across Microservices

The recent launch of Antelope Spring Beta-1 on the Jungle testnet is a significant milestone in the evolution of the EOS Network as this upgrade represents a leap forward, particularly with the introduction of the new Savanna consensus algorithm. This advancement is poised to transform the EOS ecosystem by improving transaction speeds and uplifting the overall security and privacy of the network. At the heart of the Antelope Spring Beta-1 upgrade is the Savanna consensus algorithm. This new algorithm boosts transaction finality speed by over 100 times compared to its predecessors. In blockchain technology, "finality" refers to the point at which a transaction is considered irreversible. By accelerating this process, Savanna significantly reduces the risk of double-spending and increases the efficiency of transaction processing. This improvement is vital for the EOS Network as it aims to support higher transaction volumes and more complex applications without sacrificing speed or user experience. The update also introduces advanced cryptographic techniques, such as aggregate BLS (Boneh-Lynn-Shacham) signatures and the potential for zero-knowledge proof systems. Aggregate BLS signatures are a way to combine multiple signatures into a single, smaller signature. This compact signature not only maintains the same level of security but also reduces the data size, leading to faster verification times and lower bandwidth requirements. This is particularly beneficial in a network like EOS, where speed and efficiency are paramount. Zero-knowledge proofs are another intriguing addition, offering enhanced privacy features. These proofs allow one party to prove to another that a given statement is true, without revealing any information beyond the validity of the statement itself. This can enable private transactions and other privacy-preserving features that are increasingly important in the digital age. The blockchain's architecture has been reconfigured in this update, distinguishing between Block Proposers and Block Finalizers. This separation aims to improve network governance and operational efficiency. Block Proposers are responsible for organizing transactions into proposed blocks, while Block Finalizers endorse these proposals, solidifying the integrity and finality of the blocks. This division of responsibilities helps to enhance the predictability and safety of the network, which are crucial for maintaining trust in the system. The EOS Network Foundation encourages active community participation in this phase of testing. By involving the community, the Foundation ensures that the network is not only robust and efficient but also aligns with the needs and expectations of its users. Incentives for bug reporting and contributions are a smart move to foster a collaborative environment and speed up the debugging process. While the introduction of Antelope Spring Beta-1 and the Savanna consensus algorithm is a significant advancement, it also presents challenges. The complexity of implementing such changes without disrupting existing operations is non-trivial. The network needs to ensure that all stakeholders, from developers to end-users, understand the changes and adapt accordingly. Moreover, as with any major upgrade, there is a risk of unforeseen bugs or security vulnerabilities that could undermine the network's stability. The launch of Antelope Spring Beta-1 on the Jungle testnet is a clear indicator of the EOS Network's commitment to innovation and improvement. With the Savanna consensus algorithm, advanced cryptographic techniques, and a reconfigured blockchain architecture, the network is setting itself up for a more secure, efficient, and user-friendly future. As the community continues to test and provide feedback on these new features, it will be interesting to see how these advancements will shape the future of the EOS ecosystem and the broader blockchain landscape. Don’t forget to like and share the story! Vested Interest Disclosure: This author is an independent contributor publishing via our business blogging program. HackerNoon has reviewed the report for quality, but the claims herein belong to the author. #DYOR. The recent launch of Antelope Spring Beta-1 on the Jungle testnet is a significant milestone in the evolution of the EOS Network as this upgrade represents a leap forward, particularly with the introduction of the new Savanna consensus algorithm. This advancement is poised to transform the EOS ecosystem by improving transaction speeds and uplifting the overall security and privacy of the network. recent launch At the heart of the Antelope Spring Beta-1 upgrade is the Savanna consensus algorithm. This new algorithm boosts transaction finality speed by over 100 times compared to its predecessors. In blockchain technology, "finality" refers to the point at which a transaction is considered irreversible. By accelerating this process, Savanna significantly reduces the risk of double-spending and increases the efficiency of transaction processing. This improvement is vital for the EOS Network as it aims to support higher transaction volumes and more complex applications without sacrificing speed or user experience. The update also introduces advanced cryptographic techniques, such as aggregate BLS (Boneh-Lynn-Shacham) signatures and the potential for zero-knowledge proof systems. Aggregate BLS signatures are a way to combine multiple signatures into a single, smaller signature. This compact signature not only maintains the same level of security but also reduces the data size, leading to faster verification times and lower bandwidth requirements. This is particularly beneficial in a network like EOS, where speed and efficiency are paramount. Zero-knowledge proofs are another intriguing addition, offering enhanced privacy features. These proofs allow one party to prove to another that a given statement is true, without revealing any information beyond the validity of the statement itself. This can enable private transactions and other privacy-preserving features that are increasingly important in the digital age. The blockchain's architecture has been reconfigured in this update, distinguishing between Block Proposers and Block Finalizers. This separation aims to improve network governance and operational efficiency. Block Proposers are responsible for organizing transactions into proposed blocks, while Block Finalizers endorse these proposals, solidifying the integrity and finality of the blocks. This division of responsibilities helps to enhance the predictability and safety of the network, which are crucial for maintaining trust in the system. The EOS Network Foundation encourages active community participation in this phase of testing. By involving the community, the Foundation ensures that the network is not only robust and efficient but also aligns with the needs and expectations of its users. Incentives for bug reporting and contributions are a smart move to foster a collaborative environment and speed up the debugging process. While the introduction of Antelope Spring Beta-1 and the Savanna consensus algorithm is a significant advancement, it also presents challenges. The complexity of implementing such changes without disrupting existing operations is non-trivial. The network needs to ensure that all stakeholders, from developers to end-users, understand the changes and adapt accordingly. Moreover, as with any major upgrade, there is a risk of unforeseen bugs or security vulnerabilities that could undermine the network's stability. The launch of Antelope Spring Beta-1 on the Jungle testnet is a clear indicator of the EOS Network's commitment to innovation and improvement. With the Savanna consensus algorithm, advanced cryptographic techniques, and a reconfigured blockchain architecture, the network is setting itself up for a more secure, efficient, and user-friendly future. As the community continues to test and provide feedback on these new features, it will be interesting to see how these advancements will shape the future of the EOS ecosystem and the broader blockchain landscape. Don’t forget to like and share the story! Vested Interest Disclosure: This author is an independent contributor publishing via our business blogging program. HackerNoon has reviewed the report for quality, but the claims herein belong to the author. #DYOR. Vested Interest Disclosure: This author is an independent contributor publishing via our business blogging program . HackerNoon has reviewed the report for quality, but the claims herein belong to the author. #DYOR. Vested Interest Disclosure: business blogging program business blogging program

EOS Network’s Leap Towards Ultra-Fast and Secure Blockchain Transactions

আল্ট্রা-ফাস্ট এবং নিরাপদ ব্লকচেইন লেনদেনের দিকে ইওএস নেটওয়ার্কের ঝাঁপ

Der Sprung des EOS-Netzwerks hin zu ultraschnellen und sicheren Blockchain-Transaktionen

El salto de la red EOS hacia transacciones blockchain ultrarrápidas y seguras

Le saut du réseau EOS vers des transactions blockchain ultra-rapides et sécurisées

EOS नेटवर्क की अल्ट्रा-फास्ट और सुरक्षित ब्लॉकचेन लेनदेन की ओर छलांग

EOSネットワークの超高速かつ安全なブロックチェーン取引への飛躍

초고속, 안전한 블록체인 거래를 향한 EOS 네트워크의 도약

O salto da rede EOS em direção a transações Blockchain ultrarrápidas e seguras

Скачок сети EOS к сверхбыстрым и безопасным транзакциям блокчейна

EOS Network'ün Ultra Hızlı ve Güvenli Blockchain İşlemlerine Doğru Atılımı

Bước nhảy vọt của Mạng EOS hướng tới các giao dịch Blockchain cực nhanh và an toàn

EOS 网络向超快速和安全区块链交易迈进

Introduction: In an era where digital technology is rapidly reshaping our world, blockchain technology has emerged as a transformative force. Among the vanguard of this revolution is M20 Blockchain, a platform designed to redefine how digital transactions are conducted, managed, and secured. The Essence of M20 Blockchain: M20 Blockchain offers a robust, scalable, and secure foundation for conducting digital transactions. Leveraging cutting-edge technology, M20 Blockchain ensures that every transaction is not only efficient but also inherently secure and transparent. This makes it an ideal choice for businesses and individuals alike looking to capitalize on the benefits of blockchain technology. Core Features of M20 Blockchain: Enhanced Security: Security is paramount in the digital world, and M20 Blockchain addresses this need with advanced encryption protocols and decentralized data storage. By distributing data across multiple nodes, M20 Blockchain ensures that it is virtually immune to hacks and data tampering, safeguarding user assets and information against cyber threats.


Scalability: Unlike traditional blockchains that often struggle with network congestion and slow transaction times, M20 Blockchain is designed for scalability. It employs innovative algorithms and consensus mechanisms that allow for high transaction throughput without compromising security or decentralization.


Decentralization: True to the ethos of blockchain, M20 ensures complete decentralization, eliminating any single point of failure and making the system fairer and more accessible. This decentralization extends beyond just technical architecture to include governance models that empower users with decision-making capabilities.


Smart Contract Functionality: M20 Blockchain supports complex smart contracts, which are self-executing contracts with the terms directly written into code. This allows users to automate processes, create decentralized applications (DApps), and much more, all within a secure and immutable environment.


Energy Efficiency: Addressing common concerns associated with blockchain technology, M20 Blockchain has implemented mechanisms that significantly reduce the energy consumption typically associated with mining and transaction verification, making it a more sustainable option in the blockchain space. Real-World Applications: M20 Blockchain is not just a theoretical marvel; it has practical implications across various sectors: Finance: From enabling faster, cheaper international money transfers to facilitating secure, transparent trading and lending platforms.


Supply Chain: Enhancing traceability and efficiency in supply chains by providing immutable records of goods and transactions.


Healthcare: Securely managing sensitive medical data, ensuring patient privacy while allowing seamless sharing of information between authorized. Website: https://m20chain.com/ Follow us on Twitter: https://x.com/m20blockchain Follow us on Linkedin: https://www.linkedin.com/company/m20chain Follow us on Instagram: https://www.instagram.com/m20chain/ Follow us on Thread: https://www.threads.net/@m20chain Like us on Facebook: https://www.facebook.com/M20chain This story was distributed as a release by ZEX MEDIA under HackerNoon’s Brand As An Author Program. Learn more about the program here. Introduction: Introduction: In an era where digital technology is rapidly reshaping our world, blockchain technology has emerged as a transformative force. Among the vanguard of this revolution is M20 Blockchain , a platform designed to redefine how digital transactions are conducted, managed, and secured. M20 Blockchain M20 Blockchain The Essence of M20 Blockchain: The Essence of M20 Blockchain: M20 Blockchain offers a robust, scalable, and secure foundation for conducting digital transactions. Leveraging cutting-edge technology, M20 Blockchain ensures that every transaction is not only efficient but also inherently secure and transparent. This makes it an ideal choice for businesses and individuals alike looking to capitalize on the benefits of blockchain technology. Core Features of M20 Blockchain: Core Features of M20 Blockchain: Enhanced Security: Security is paramount in the digital world, and M20 Blockchain addresses this need with advanced encryption protocols and decentralized data storage. By distributing data across multiple nodes, M20 Blockchain ensures that it is virtually immune to hacks and data tampering, safeguarding user assets and information against cyber threats. Scalability: Unlike traditional blockchains that often struggle with network congestion and slow transaction times, M20 Blockchain is designed for scalability. It employs innovative algorithms and consensus mechanisms that allow for high transaction throughput without compromising security or decentralization. Decentralization: True to the ethos of blockchain, M20 ensures complete decentralization, eliminating any single point of failure and making the system fairer and more accessible. This decentralization extends beyond just technical architecture to include governance models that empower users with decision-making capabilities. Smart Contract Functionality: M20 Blockchain supports complex smart contracts, which are self-executing contracts with the terms directly written into code. This allows users to automate processes, create decentralized applications (DApps), and much more, all within a secure and immutable environment. Energy Efficiency: Addressing common concerns associated with blockchain technology, M20 Blockchain has implemented mechanisms that significantly reduce the energy consumption typically associated with mining and transaction verification, making it a more sustainable option in the blockchain space. Enhanced Security: Security is paramount in the digital world, and M20 Blockchain addresses this need with advanced encryption protocols and decentralized data storage. By distributing data across multiple nodes, M20 Blockchain ensures that it is virtually immune to hacks and data tampering, safeguarding user assets and information against cyber threats. Enhanced Security: Security is paramount in the digital world, and M20 Blockchain addresses this need with advanced encryption protocols and decentralized data storage. By distributing data across multiple nodes, M20 Blockchain ensures that it is virtually immune to hacks and data tampering, safeguarding user assets and information against cyber threats. Enhanced Security: Scalability: Unlike traditional blockchains that often struggle with network congestion and slow transaction times, M20 Blockchain is designed for scalability. It employs innovative algorithms and consensus mechanisms that allow for high transaction throughput without compromising security or decentralization. Scalability: Unlike traditional blockchains that often struggle with network congestion and slow transaction times, M20 Blockchain is designed for scalability. It employs innovative algorithms and consensus mechanisms that allow for high transaction throughput without compromising security or decentralization. Scalability: Decentralization: True to the ethos of blockchain, M20 ensures complete decentralization, eliminating any single point of failure and making the system fairer and more accessible. This decentralization extends beyond just technical architecture to include governance models that empower users with decision-making capabilities. Decentralization: True to the ethos of blockchain, M20 ensures complete decentralization, eliminating any single point of failure and making the system fairer and more accessible. This decentralization extends beyond just technical architecture to include governance models that empower users with decision-making capabilities. Decentralization: Smart Contract Functionality: M20 Blockchain supports complex smart contracts, which are self-executing contracts with the terms directly written into code. This allows users to automate processes, create decentralized applications (DApps), and much more, all within a secure and immutable environment. Smart Contract Functionality: M20 Blockchain supports complex smart contracts, which are self-executing contracts with the terms directly written into code. This allows users to automate processes, create decentralized applications (DApps), and much more, all within a secure and immutable environment. Smart Contract Functionality: Energy Efficiency: Addressing common concerns associated with blockchain technology, M20 Blockchain has implemented mechanisms that significantly reduce the energy consumption typically associated with mining and transaction verification, making it a more sustainable option in the blockchain space. Energy Efficiency: Addressing common concerns associated with blockchain technology, M20 Blockchain has implemented mechanisms that significantly reduce the energy consumption typically associated with mining and transaction verification, making it a more sustainable option in the blockchain space. Energy Efficiency: Real-World Applications: Real-World Applications: M20 Blockchain is not just a theoretical marvel; it has practical implications across various sectors: Finance: From enabling faster, cheaper international money transfers to facilitating secure, transparent trading and lending platforms. Supply Chain: Enhancing traceability and efficiency in supply chains by providing immutable records of goods and transactions. Healthcare: Securely managing sensitive medical data, ensuring patient privacy while allowing seamless sharing of information between authorized. Finance: From enabling faster, cheaper international money transfers to facilitating secure, transparent trading and lending platforms. Finance: From enabling faster, cheaper international money transfers to facilitating secure, transparent trading and lending platforms. Finance: Supply Chain: Enhancing traceability and efficiency in supply chains by providing immutable records of goods and transactions. Supply Chain: Enhancing traceability and efficiency in supply chains by providing immutable records of goods and transactions. Supply Chain: Healthcare: Securely managing sensitive medical data, ensuring patient privacy while allowing seamless sharing of information between authorized. Healthcare: Securely managing sensitive medical data, ensuring patient privacy while allowing seamless sharing of information between authorized. Healthcare: Website: https://m20chain.com/ https://m20chain.com/ https://m20chain.com/ Follow us on Twitter: https://x.com/m20blockchain https://x.com/m20blockchain https://x.com/m20blockchain Follow us on Linkedin: https://www.linkedin.com/company/m20chain https://www.linkedin.com/company/m20chain https://www.linkedin.com/company/m20chain Follow us on Instagram: https://www.instagram.com/m20chain/ https://www.instagram.com/m20chain/ https://www.instagram.com/m20chain/ Follow us on Thread: https://www.threads.net/@m20chain https://www.threads.net/@m20chain https://www.threads.net/@m20chain Like us on Facebook: https://www.facebook.com/M20chain https://www.facebook.com/M20chain https://www.facebook.com/M20chain This story was distributed as a release by ZEX MEDIA under HackerNoon’s Brand As An Author Program. Learn more about the program here. This story was distributed as a release by ZEX MEDIA under HackerNoon’s Brand As An Author Program. Learn more about the program here. This story was distributed as a release by ZEX MEDIA under HackerNoon’s Brand As An Author Program. Learn more about the program here . here here

Revolutionizing Digital Transactions with M20 Blockchain

M20 ব্লকচেইনের সাথে ডিজিটাল লেনদেনের বিপ্লব

Revolutionierung digitaler Transaktionen mit M20 Blockchain

Revolucionando las transacciones digitales con M20 Blockchain

Révolutionner les transactions numériques avec la blockchain M20

M20 ब्लॉकचेन के साथ डिजिटल लेनदेन में क्रांतिकारी बदलाव

M20ブロックチェーンによるデジタル取引の革命

M20 블록체인을 통한 디지털 거래 혁신

Revolucionando as transações digitais com Blockchain M20

Революция цифровых транзакций с помощью блокчейна M20

M20 Blockchain ile Dijital İşlemlerde Devrim Yaratıyor

Cách mạng hóa giao dịch kỹ thuật số với chuỗi khối M20

利用 M20 区块链彻底改变数字交易

Lucas Hoffman, CTO at 0xProcessing, a crypto payment gateway for businesses with Web3 integration, uncovers the dependence of crypto transaction volume on market conditions, the popularity of auto-conversion into stablecoins, and calculates the share of BTC in crypto processing. Q: The cryptocurrency market is going through a big upswing again. Bitcoin recently reached a new high, and other cryptocurrencies are also doing well compared to last year. Has this affected the crypto processing market? How did the volume of payments change? This question is not about the dollar equivalent of TRX volume, which obviously went up just because the exchange rate grew sharply. 0x: The number of payments made through crypto payment gateways has been growing lately every year. Of course, when the price of Bitcoin goes up, more businesses become interested in accepting crypto payments. But even during the tough times for crypto in 2022-2023, we saw more people using crypto payment gateways. Our data shows that in the first quarter of 2021, over 200 thousand transactions went through 0xProcessing. By the end of the first quarter of 2022, even though Bitcoin's price dropped, we had already processed 1.5 million transactions. By the end of 2023, over 3.5 million transactions had been completed through 0xProcessing. By this April, 0x processed over 4.5 mln of transactions. The number of merchants has risen to 400+. This shows that more and more people want to use crypto for payments, both businesses offering it on their websites and users making the payments. Q: 0x was launched in 2020 supporting 5 blockchains and 15 coins. Now, it supports 13 blockchains and over 50 cryptocurrencies. Which blockchains are the most popular in B2C payment? Where do regular users have the most transactions? 0x: Among the most popular cryptocurrencies are BTC, ETH, BNB, DOGE, LTC, DASH, SOL, alongside stablecoins like USDT and DAI. When it comes to blockchains, users tend to favor networks with low fees, such as BNB Chain, TRON, and DOGE. Q: So, Bitcoin isn't the top choice for most merchants? 0x: Bitcoin holds a unique position. Due to its widespread use, merchants typically prioritize accepting Bitcoin payments. Consequently, despite its higher fees compared to other blockchains, Bitcoin still accounts for a significant share of crypto processing. According to our internal statistics, currently, transactions in BTC account for 26% of overall turnover through 0xProcessing. Q: What merchants are the main users of crypto payment gateways? 0x: Cryptoprocessing is particularly favored by merchants who operate globally, especially those in the virtual space, owing to its advantages in speed, low fees, and ability to handle international transactions. For example, VPN services, such as Eva VPN which operates globally and has hundreds of secure VPN servers around the world. Q: Why do businesses show interest in crypto payments despite the volatility of cryptocurrencies? 0x: Businesses such as gaming and betting platforms, subscription services, and global merchants seek fast electronic payments worldwide, beyond the confines of specific countries or regions. Their users require quick account replenishment, and crypto processing proves to be a much more convenient and faster method than traditional payment systems or bank transfers. The issue of cryptocurrency volatility in processing is not a problem anymore. Particularly, 0xProcessing addresses the volatility issue with its Volatility Risk Control System service. This service automatically converts crypto received as payment to stablecoins, safeguarding assets from market fluctuations. Merchants can choose the portion of crypto to convert into stablecoins and which share of the payment to retain as crypto. Q: Do merchants prefer immediate conversion to stablecoins upon receiving payments, or do they hold part of their assets in cryptocurrency? 0x: The preference for automatic conversion to stablecoins depends on market conditions. During bear markets, merchants tend to increase automatic conversion amounts to shield against cryptocurrency depreciation. Conversely, amidst recent bullish trends, the share of auto-conversion has notably declined. Merchants, akin to crypto investors, favor HODLing, anticipating enhanced profitability through the appreciation of accepted coins. Q: Can you compete with the large crypto processing companies in the market? 0x: In some cases, being affiliated with a major crypto exchange or belonging to a large holding can actually be detrimental to crypto processing. Crypto processing is inherently personal. Each merchant has unique needs and specific requests. A one-size-fits-all solution, like a generic product on a supermarket shelf, often falls short. Merchants require fast, simple, and cost-effective solutions tailored to their individual requirements. At 0xProcessing, we've embraced this personalized approach to client relationships. Our technical support team is available round-the-clock, ensuring prompt assistance. We take pride in our swift response times, with queries typically answered within 60 minutes. Additionally, our APIs are designed for easy customization, requiring no specialized programming knowledge, thus empowering merchants to configure them according to their preferences. Finally, the introduction of Web3 into crypto processing is our unique offer. Almost no one has anything like this on the market. Q: In 2021, 0xProcessing introduced Web3 wallet integration. How does this change crypto payment processing, and why is it considered more secure? 0x: With Web3 wallet integration, crypto payment processing becomes more streamlined and secure. This approach enables direct connection with users' Web3 wallets, enhancing security by minimizing intermediaries and facilitating seamless transactions directly from users' wallets. Lucas Hoffman, CTO at 0xProcessing, a crypto payment gateway for businesses with Web3 integration, uncovers the dependence of crypto transaction volume on market conditions, the popularity of auto-conversion into stablecoins, and calculates the share of BTC in crypto processing. Lucas Hoffman, CTO at 0xProcessing, a crypto payment gateway for businesses with Web3 integration, uncovers the dependence of crypto transaction volume on market conditions, the popularity of auto-conversion into stablecoins, and calculates the share of BTC in crypto processing. Lucas Hoffman, CTO at 0xProcessing , a crypto payment gateway for businesses with Web3 integration, uncovers the dependence of crypto transaction volume on market conditions, the popularity of auto-conversion into stablecoins, and calculates the share of BTC in crypto processing. 0xProcessing 0xProcessing Q: The cryptocurrency market is going through a big upswing again. Bitcoin recently reached a new high, and other cryptocurrencies are also doing well compared to last year. Has this affected the crypto processing market? How did the volume of payments change? This question is not about the dollar equivalent of TRX volume, which obviously went up just because the exchange rate grew sharply. Q: The cryptocurrency market is going through a big upswing again. Bitcoin recently reached a new high, and other cryptocurrencies are also doing well compared to last year. Has this affected the crypto processing market? How did the volume of payments change? This question is not about the dollar equivalent of TRX volume, which obviously went up just because the exchange rate grew sharply. 0x: The number of payments made through crypto payment gateways has been growing lately every year. Of course, when the price of Bitcoin goes up, more businesses become interested in accepting crypto payments. But even during the tough times for crypto in 2022-2023, we saw more people using crypto payment gateways. Our data shows that in the first quarter of 2021, over 200 thousand transactions went through 0xProcessing. By the end of the first quarter of 2022, even though Bitcoin's price dropped, we had already processed 1.5 million transactions. By the end of 2023, over 3.5 million transactions had been completed through 0xProcessing. By this April, 0x processed over 4.5 mln of transactions. The number of merchants has risen to 400+. This shows that more and more people want to use crypto for payments, both businesses offering it on their websites and users making the payments. Q: 0x was launched in 2020 supporting 5 blockchains and 15 coins. Now, it supports 13 blockchains and over 50 cryptocurrencies. Which blockchains are the most popular in B2C payment? Where do regular users have the most transactions? Q: 0x was launched in 2020 supporting 5 blockchains and 15 coins. Now, it supports 13 blockchains and over 50 cryptocurrencies. Which blockchains are the most popular in B2C payment? Where do regular users have the most transactions? 0x: Among the most popular cryptocurrencies are BTC, ETH, BNB, DOGE, LTC, DASH, SOL, alongside stablecoins like USDT and DAI. When it comes to blockchains, users tend to favor networks with low fees, such as BNB Chain, TRON, and DOGE. Q: So, Bitcoin isn't the top choice for most merchants? Q: So, Bitcoin isn't the top choice for most merchants? 0x: Bitcoin holds a unique position. Due to its widespread use, merchants typically prioritize accepting Bitcoin payments. Consequently, despite its higher fees compared to other blockchains, Bitcoin still accounts for a significant share of crypto processing. According to our internal statistics, currently, transactions in BTC account for 26% of overall turnover through 0xProcessing . 0xProcessing 0xProcessing Q: What merchants are the main users of crypto payment gateways? Q: What merchants are the main users of crypto payment gateways? 0x: Cryptoprocessing is particularly favored by merchants who operate globally, especially those in the virtual space, owing to its advantages in speed, low fees, and ability to handle international transactions. For example, VPN services, such as Eva VPN which operates globally and has hundreds of secure VPN servers around the world. Q: Why do businesses show interest in crypto payments despite the volatility of cryptocurrencies? Q: Why do businesses show interest in crypto payments despite the volatility of cryptocurrencies? 0x: Businesses such as gaming and betting platforms, subscription services, and global merchants seek fast electronic payments worldwide, beyond the confines of specific countries or regions. Their users require quick account replenishment, and crypto processing proves to be a much more convenient and faster method than traditional payment systems or bank transfers. The issue of cryptocurrency volatility in processing is not a problem anymore. Particularly, 0xProcessing addresses the volatility issue with its Volatility Risk Control System service. This service automatically converts crypto received as payment to stablecoins, safeguarding assets from market fluctuations. Merchants can choose the portion of crypto to convert into stablecoins and which share of the payment to retain as crypto. Q: Do merchants prefer immediate conversion to stablecoins upon receiving payments, or do they hold part of their assets in cryptocurrency? Q: Do merchants prefer immediate conversion to stablecoins upon receiving payments, or do they hold part of their assets in cryptocurrency? 0x: The preference for automatic conversion to stablecoins depends on market conditions. During bear markets, merchants tend to increase automatic conversion amounts to shield against cryptocurrency depreciation. Conversely, amidst recent bullish trends, the share of auto-conversion has notably declined. Merchants, akin to crypto investors, favor HODLing, anticipating enhanced profitability through the appreciation of accepted coins. Q: Can you compete with the large crypto processing companies in the market? Q: Can you compete with the large crypto processing companies in the market? 0x: In some cases, being affiliated with a major crypto exchange or belonging to a large holding can actually be detrimental to crypto processing. Crypto processing is inherently personal. Each merchant has unique needs and specific requests. A one-size-fits-all solution, like a generic product on a supermarket shelf, often falls short. Merchants require fast, simple, and cost-effective solutions tailored to their individual requirements. At 0xProcessing , we've embraced this personalized approach to client relationships. Our technical support team is available round-the-clock, ensuring prompt assistance. We take pride in our swift response times, with queries typically answered within 60 minutes. Additionally, our APIs are designed for easy customization, requiring no specialized programming knowledge, thus empowering merchants to configure them according to their preferences. 0xProcessing 0xProcessing Finally, the introduction of Web3 into crypto processing is our unique offer. Almost no one has anything like this on the market. Q: In 2021, 0xProcessing introduced Web3 wallet integration. How does this change crypto payment processing, and why is it considered more secure? Q: In 2021, 0xProcessing introduced Web3 wallet integration. How does this change crypto payment processing, and why is it considered more secure? 0x: With Web3 wallet integration, crypto payment processing becomes more streamlined and secure. This approach enables direct connection with users' Web3 wallets, enhancing security by minimizing intermediaries and facilitating seamless transactions directly from users' wallets.

0xProcessing: BTC Accounts for 26% of All Transactions Through Payment Gateway

Imagining a world less economically interconnected than our current one is challenging. Yet, three decades ago, global interactions were markedly different – companies engaged in significantly fewer cross-border payments and were predominantly focused on domestic endeavors. Fast forward to today’s borderless global economy reliant on international supply chains, remote workforces, and API-first tech stacks, and the siloed business models of yesteryear have nearly completed their relegation to obsolescence. With a persistent desire to increase the speed of processes across organizations and government agendas worldwide, there is a modern imperative to streamline cross-border payments to improve efficacy. However, fraud is the primary challenge contributing friction to the objective at hand. Two Aspects to Improve: Speed & Security The surge in cross-border payments, driven by trade, capital, and migration flows, is only expected to climb – with a reported __ __With such expected growth comes a need to improve the efficiency and speed of cross-border payments, as evidenced by conversations led by the European Union in recent times. $190 trillion in 2023 projected to reach $290 trillion by 2030. In October 2022, the European Commission introduced a legislative proposal aimed at enabling citizens with bank accounts in the European Economic Area to execute instant euro payments. Earlier this month, the legislation was officially passed, with banks and payment service providers now mandated to allow EU citizens and businesses to conduct nearly instantaneous credit transfers. Despite significant growth, cross-border payments remain expensive and sluggish with fees , and a timeframe that can take up to several days for payments to complete. Reducing the cost, speeding up the process, and enhancing the accessibility of cross-border payments would yield significant advantages, particularly in emerging and developing economies. averaging 1.5% for corporations, 6.3% for remittances The critical challenge for companies engaged in this field is to devise strategies that effectively balance the two aspects of speed and security; to serve customers' ideal desires of near-instantaneous payments that are completely secure. The Cross-Border Payments Fraud Problem Unfortunately, this is easier said than done. While only representing 11% of total card payment transactions, cross-border payments accounted for . Fraudsters are particularly drawn to cross-border payments because they can easily steal funds, often as a result of weak security measures. 63% of card fraud Most notably, the physical distance between the fraudsters and their victims significantly lowers the chances of the perpetrators being caught. Since victims have limited options for recourse after being defrauded, cross-border payments are frequently seen as the easiest opportunity for fraudsters to execute scams. How Fraud Undermines Trust Increasing fraud rates have the potential to erode trust in the security of cross-border payments, and a loss of faith in the security of these payments could lead to an eventual decline, diminishing the future viability of businesses dependent on an international marketplace. Victims of cross-border payment fraud are ensnared by an array of sophisticated tactics. In Account Takeover (ATO) fraud, perpetrators gain unauthorized access to victims' banking or digital wallet accounts, manipulating them for illicit transactions. Even within the broader fraud threat landscape, account takeovers are a growing problem, with an estimated 22% of adults in the US falling victim to this type of fraud in 2022. Another popular method is chargeback fraud, which involves deceitful transaction reversals, while stolen card fraud sees the unauthorized use of credit or debit card details for fraudulent purchases or withdrawals. While sometimes referred to as ‘friendly fraud,’ chargeback fraud can be far from pleasant and is growing at a rate of around 41% a year. Cross-border payments are also susceptible to fraudsters looking to commit money laundering. Money laundering intricately disguises the origins of illicit funds, complicating efforts to trace them back to criminal activities. Once again, this is a huge fraud problem generally. In fact, anti-money laundering fines were up 50% last year alone. Other forms of fraud affecting the cross-border payment process include BIN attacks, triangulation fraud, and Authorized Push Payment (APP). Together, these tactics not only inflict financial losses but can also severely damage victims’ credit history and erode trust in digital financial transactions across the board. New Ways to Address Old Problems The answer to addressing fraud in cross-border payments is to get proactive and stop the issue before it occurs. Unfortunately, traditional risk technologies have been expensive to develop, slow to implement, complex, and ultimately, unable to keep pace with evolving fraud trends. Thankfully, new solutions are now coming to the fore that offer significant improvements. Artificial intelligence (AI) advancements have opened new avenues to address these challenges. Through advanced digital footprinting and the power of machine learning, modern fraud prevention solutions that leverage AI can find the tell-tale signs of fraud that humans tend to miss and help to stop it in its tracks. For companies like SEON, the ability to enrich data is key to this effort. Without always realizing it, users regularly leave behind digital footprints on the sites they visit. By analyzing this information, solutions like ours can unlock the likelihood of an individual being fraudulent while simultaneously making other critical determinations around online accounts. Fraud prevention solutions that leverage AI have the potential to impart considerable new trust across the cross-border payment space. Whether it’s leveraging behavioral analysis techniques to spot anomalies in user behaviors that indicate account takeovers or utilizing transaction monitoring to spot any unusual transfers of funds, the technology could be transformative. Maintaining Trust In the context of cross-border money transfers, trust is paramount. Without maintaining this trust, the entire system risks being compromised. Embracing and integrating advanced technologies is not just about safeguarding funds; it is a crucial step in ensuring the integrity and reliability of the global financial system. Thus, adopting solutions utilizing AI, machine learning, and other state-of-the-art tools, like SEON, represents more than technological progress. More than ever, it's increasingly vital for companies and individuals undertaking this essential process to recognize their role in combating the growing threat of fraud. For more information about SEON, please visit: <https://seon.io/](https://seon.io/) Also published here

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