Topic: [ANN] ZEMPA - Universal Wallet Cancelled - Taking Another Direction - page 6. (Read 4627 times)

Will be announcing some advisors to our team this week. One, I think many will know.

I would really appreciate any feedback thus far.

Do you understand what Zempa does?
How could we make things more clear to understand?
Are the Bounty rewards sufficient?

To answer the above question:

In a way,
 we need to create a video explaining things more clearly.

Imagine 100 users connected to this Universal Wallet. Each user has deposited a different crypto. Lets say one of those users decides they want to purchase something online using LTE, but they dont have LTE in the ZWU (Zempa Universal Wallet). The product they want to buy costs $100 worth of LTE but they have $100 worth of ETH in the ZWU. So they open the Zempa GUI and proceed to send the LTE to the vendor by plugging in the vendors address and select LTE. The system calls the pool to locate the LTE starting with the person that initiated the transaction, not finding it there, it calls the internal fund stocked by us. Supply is low because LTE is in high demand so the rest of the contributing pool is called until a user is found with $100 of LTE selected as a contribution. The transaction is completed on the first users behalf and $100 worth of ETH is reassigned from them to the LTE contributor to replace the LTE that was used and because LTE is in high demand, the LTE contributor is rewarded a sum of Zempa.

*exhales*

It sounds more complicated than it is really. Everything happening very quickly within the system. Ultimately, rather than having to wait out multiple transactions and associated fees to obtain the currency you need, you have one transaction and one small transfer fee\ and with some higher market cap currencies rising in value faster than others, contributors of those currencies (based on initial system settings followed up by practical use algorithms within the system, those users will be compensated in Zempa according to those factors and based on the sum of each transaction etc.

This is the fundamental use of the system, though once this has been established we have many ideas on how to expand the system with more uses and functionality.

So is this kind of like an exchange with merchant accounts? i.e. it works just like an exchange where people deposit currencies into the exchange's wallet, and the exchange keeps track of transactions between them.

This protocol just adds another component where vendors can have an account on the exchange and accept different currencies as payment, right?

Thank you Franss! Much appreciated!

http://zempa.io/affiliate-account-page/

There you are. Let me know if you need anything.
There are banners available in the bounty admin menu but if you need specific sizes, let me know here and I'll add them.

Thank you!

dev where i can find link bounty.i want join

Very possible.
PM Sent.
Thank you.

Interested in a bounty manager?

Send me a pm!

We just added a new Referral Marketing system to Zempa.io that enables you to register as a marketer and promote the site with banners or links and earn Zempa Coins based on how many Newsletter Signups, Site Registrations and Social Shares your traffic results in. Also a Top Marketer page to show off the top marketer profiles.

If there are any bugs found, please share them here and I'll address them immediately. All seems to be working.

I would have included images to show certain things but I'm not able to yet.

To try and explain here most easily:
Users deposit cryptocurrencies into their Zempa Universal Wallet. Using their GUI, they can select which currencies they want to contribute to the Pool to be used by others.

User A deposits $400 worth of Currency A into the Universal Wal
let as well as other currencies.

They select Currency A to be accessible by the system for transactions. 

User B deposits $600 worth of Currency B into the Universal Wallet and selects their currency to be accessible by the system for transactions.

User A initiates a transaction online requiring Currency B, which they do not currently own as confirmed by the system first.
The system calls the Universal Wallet to locate an available sum of that currency matching User A’s desired amount.

The system then calculates User A’s current holdings against the current market value to ensure they can replenish the value of the desired currency’s value, wherever it may come from.

Once User A’s holding value is confirmed, the system looks to internal stock of the desired currency to complete the initiated transaction. If the internal stock is depleted, the system looks to contributing user holdings for the desired currency at which point User B’s available Currency B is calculated against current market value.

Once the desired sum of Currency B has been discovered and calculated, the transaction is completed on behalf of User A. The value of Currency B is reassigned from User A in Currency A to User B as well as a reward in Zempa for having the desired currency available. 

User B may then go to the ZempaCoin.com business directory to spend their hard earned rewards on products or services at a discounted price, hold them or trade them on various exchanges.

User A saved a great deal of timeavoiding what could be multiple transaction confirmations as well as fees typically incurred during such an exchange in order to obtain the desired token.

At a first glimp I didn't really understand how the thing works. I'll try with the whitepaper. Will you have also social bounties?

Reserved for potential Updates.