Traxalt®, a first-of-its-kind blockchain-based, Global Payment Network, is solving the problems faced by large business enterprises when performing international business transactions. Launched in June 2019, the Traxalt solution is gaining popularity among SMEs and MSMEs because it facilitates settlement and clearing of cross border transactions in a single network.
Traxalt’s global payments network is based on the Stellar blockchain -a third-generation blockchain. It is termed as a third-gen blockchain because it is way faster than Bitcoin and Ethereum. While the Bitcoin blockchain honors 6-7 transactions per second, the Stellar blockchain can do up to 1,000 transactions per second. The Traxalt protocol is fast, efficient, and has a reliable architecture that can handle large business transactions on a daily basis without running into any scaling issues.
Traxalt also solves modern-day issues in digital record-keeping – such as problems with data collection, reporting and analytics, through the Traxalt ledger which is reliable, immutable and auditable.
Increasing User Base
Since its launch, there has been a massive growth of users in the Traxalt ecosystem. According to data revealed by the company, the average holding accounts that are created per day is very high. It is exciting that an ambitious digital asset project has been successful in onboarding hundreds of thousands of users per month in these market situations. As of now, the total active user base of Traxalt is close to reach 1M – Q2 2020.
Facilitating Large Transactions with TXT
Traxalt’s native token, the TXT token is being utilized along with the Traxalt ledger to allow for arbitrary data identification, hashing, and timestamping on the blockchain. Currently, it is the only token that runs on the platform. This will enable the protocol to facilitate transactions across multiple currencies. Different parties with different currencies from different regions will go through a seamless experience while using the Traxalt ecosystem. Traxalt proposes a global payments network that handles all essential currencies.
With the emergence of the blockchain platforms, there has been a significant need to build an ecosystem around scalable solutions for enterprise-grade transactions. Traxalt Protocol’s financial technology outperforms today’s centralized infrastructure by driving down costs, increasing processing speeds and delivering complete visibility into payment fees, timing and delivery.