FESS - The Future of Electronic Settlement System
PREAMBLE
A storm has hit the investment market which we are not going to recover from. Crypto investment is that storm. With strict capital controls in place by most countries to control the flow of money and charge high taxes, cryptocurrency gained usage in circumventing capital controls and taxes, leading to an increase in demand. Cryptocurrency has been able to present an easy to use digital alternative to fiat currencies. Offering frictionless transactions and inflation control, investors have been prudent enough to add these currencies in their diversified portfolios as an asset, as the size of the market does not represent a systemic risk. Cryptocurrency employs the use of cryptography that assures high-security processes and verifies transactions personal to each user. Hence, counterfeiting and anonymous transactions are impossible to achieve.
While this revolution is gaining wide acceptance, Fesschain is the first decentralized platform addressing the shortcomings of the existing electronic settlement system.
Electronic payment systems should provide people with the necessary infrastructure to facilitate payments. Today EPS have become an integral part of trade and entrepreneurship.
In a world full of Internet technologies and new inventions the popularity of virtual or digital currency has been increasing for the last few years. It should be noted that these expressions are used as a synonym. This interpretation is followed by the European Central Bank, and the Financial Crimes Enforcement Network (FinCEN) and the FBI in their official documents use the term "virtual currency" as a common and the only one, so we will continue to treat these concepts as synonymous.
The widespread virtual currency offers users a high level of anonymity, which is simply not possible in the case of credit and debit cards or traditional online payment systems.
Initially, the digital currency began to be used to purchase and sell virtual goods in various online communities: social networks, virtual worlds or online games. But to date, it is quite a profitable business, generating real income in the form of fiat currency.
There are also more and more options for improving the principles of the operation of EPS. The range of blockchain technology applications is expanding, the so-called publicly available book of accounting, which is the basis for one of the types of EPS – cryptocurrency.
With that being said, FESS is the first decentralized platform addressing the shortcomings of the existing electronic settlement system. FESS offers a quicker and safer way to transact in an electronic environment through application of cutting edge technology.
But before we go any further, please check out this video presentation to get even more acquainted
Now that I have your attention, let’s get right to it.
What exactly is FESS?
FESS Chain is dedicated for this purpose apart from numerous other sectors where application of blockchain technology could instill a culture of enhanced security.
Fesschain is the first decentralized platform addressing the shortcomings of the existing electronic settlement system. FESS offers a quicker and safer way to transact in an electronic environment through application of cutting edge technology. FESS blockchain is a multi layered system, in which each and every transaction before being recorded is verified either with its timestamp or the Bitcoin blockchain or both. FESS Chain will enable fragmented and parallel processing of transactions.
Fesschain have created a decentralized platform that will solve all your electronic settlement woes. Existing systems on operational blockchains are crippled with huge network load, and hence they are vulnerable to security threats apart from being obnoxiously slow.
The uniquely designed blockchain makes best use of Artificial Intelligence and other such advanced authentication methods. Thereby, it dares to promote secure and safe transactions of any volume all across the globe.
FESS is Mainstream Technology where Speed combines with Security not only theoretically but in practical means. Most of the projects running at present either claim to deliver speed or safety. None of them has sincerely found a solution for scalability where people can easily transact with supersonic speed or can run a DApp with the full potential. FESS dares to not only Work on this issue but also solve it.
The primary objective of FESS Chain is to create a Universal Settlement System(USS) on their blockchain which offers both security and high transactional speed at the same time. Also, their platformance will be augmenting for a Fiat-less Economy and Integration of all possible practical use cases with blockchain.
The Ecosystems - Features of Fesschain
Trust and Transparency
The complete decentralized architecture on FESS instills the much needed trust and transparency within all transactional networks.
Security
A double layered authentication method of transactions, based on blockchain technology makes it virtually impossible to hack into Fess system.
Speed
The unique parallel processing algorithm ensures 450-900 transactions per second(TPS), way ahead of existing solutions.
Diversity
Fesschain platform through its token powers individuals and business for their various needs.
Why choose Fesschain?
FESS Chain offers a super secured multi-layered blockchain with a unique authentication which verifies every transaction with the highly diversified and secure Bitcoin Blockchain and/or the timestamp of that transaction. This makes their blockchain practically unhackable that too without compromising the speed.
FESS is combining Proof of Proof (PoP) methodology with AI and basic features of sharding into a new blockchain. FESS chain verifies every block with Bitcoin blockchain mined blocks, which makes FESS practically unhackable. Even if someone hacks into our blockchain, the very next block verifies back and returns where the original verified block was mined.
Token Details
Token name: Fesschain
Ticker: FESS
Type: ERC20
Total supply: 10 billion
Total initial supply: 650 million
Price: $0.01
Minimum investment: 1 ETH
Accepted currencies: ETH, BTC, NEO
Token Distribution
ROADMAP
MEET THE AMAZING TEAM
For more information, please visit:
Website: https://fesschain.live/
Litepaper: https://fesschain.live/images/azalea/Litepaper-low.pdf
Telegram: https://t.me/fesschain
Facebook: https://www.facebook.com/fesschain/
Twitter: https://twitter.com/fesschain
Instagram: https://www.instagram.com/officialfess/
LinkedIn: https://www.linkedin.com/company/14609086
Youtube: https://www.youtube.com/channel/UCwxzGn-MGmJl2Lf8cPhRzwA
Medium: https://medium.com/fesschain
Author: Cryptoholical
My BitcoinTalk Profile: https://bitcointalk.org/index.php?action=profile;u=1326035
Disclaimer: This article was published in terms of the bounty campaign. I am not a project team member or its representative but a supporter of this incredible project.
