Traxalt – A blockchain-based solution is changing how companies interact with each other. Making its debut in the digital asset’s market in June 2019, the Traxalt protocol, built on top of the Stellar blockchain, is facilitating enterprises and companies to reduce costs, achieve faster transaction times, and handle transparent information with a system that offers scalability with data growth and less use of third parties. Companies are able to reduce costs and take care of data integrity because the system facilitates settlement and clearing of cross border transactions in a single network.
The platform recently reported that its user base is close to reach the mark of 1,000,000 (Q4 2019 was 810,083, indicating a 22.5% quarterly increase). It is exciting that an ambitious blockchain project has been successful in onboarding hundreds of thousands of users in these market situations.
Companies have taken sides with Traxalt because cross-border payments are intrinsically inefficient today as there is not one single extensive global payment system. And these systems face many challenges due to its centralized nature. Traxalt solves these issues with its decentralized protocol that is free by boundaries. Due to the decentralized nature of the protocol, there lies no conflict of interest and the system cannot be controlled or manipulated by any party. These fully decentralized systems require no scrutiny as the data is transparent.
One Protocol, One System
Under the One Protocol, One System slogan, companies operating on the Traxalt protocol dodges the ‘global standard and variations between systems operating in different regions’ – all thanks to its decentralized nature. The companies are leveraging their edge to process data between each other without worrying about the prevailing global standard and variations. The Traxalt team has also been working on a merchant app that handles payments and processes data on the go.
In order to support cross border mega transactions, there needs to be a robust risk and liquidity management system. Traxalt is taking care of liquidity through its TXT token that operates on the Traxalt protocol. The TXT token secures the network from spam/malicious behaviour and also creates a pool of liquidity. Traxalt tokens are also used to reward users, developers, and other participants to perform actions and services that benefit the entire ecosystem.
Today, the world requires a global payment network that allows movement of money to every corner of the world, facilitates instant settlement, and that is reliable and cost-effective. And Traxalt has achieved these value proposition characteristics, enabling thousands of companies to save cost and time.