Melbourne, Australia, Dec. 02, 2021 (GLOBE NEWSWIRE) — The primary goal is to facilitate the payment of early cryptocurrencies like Bitcoin, Litecoin, and Bitcoin Cash. The SAT platform aims to develop a decentralized, open, transparent, and irreversible peer-to-peer payment system. In terms of theory, cryptocurrencies have a great potential for payment based on these features.
Currently, a number of cryptocurrency developers, including SAT, are actively participating in the existing financial payment system. SAT Network is an open-source, peer-to-peer payment consensus system that verifies and transfers payments in a decentralized manner using the consensus of numerous network nodes.
SAT Network has constructed a payment hub that can be utilized for asset exchange through their ATM, regardless of whether the user pays in fiat or digital currency, in light of the present crypto market condition. Moreover, it intends to build the world’s first cryptocurrency ATM and POS machine, which can be used to swap fiat and digital currency and enable free digital currency and fiat exchange.
The POS machine can adapt to all common payment methods, detect an ecological link between crypto and traditional payments, and facilitate physical transactions. SAT equipment enables fast conversion between various fiat currencies, Bitcoin, and SAT, laying a solid platform for cryptocurrencies to be used as a circulating currency in daily transactions.
The platform has enhanced block production speed by 4 times to satisfy actual transaction demand based on the original retail payment in cryptocurrency. SAT Tokens have been halving every 4 years, and the constant supply makes the model unminted and deflationary overall. The network of SAT has built its own devices to allow recipients to receive money using cryptocurrencies with the simplest interface possible and without extensive training.
The Blockchain is determined to make concrete steps to lower the barrier for retailers to accept cryptocurrency by using technology to solve the problem smoothly. While encouraging cryptocurrency’s value recognition, it also makes businesses’ payment models indistinguishable from the existing traditional approach. The SAT Network ecosystem is very large and may be used in a broad range of circumstances. Examples are offline retail, e-commerce, online entertainment, bulk transactions, supply chain finance, cross-border transactions, and nearly all other scenarios.
Furthermore, it has developed a payment aggregator for retail payment in cryptocurrency. SAT will also be given more responsibilities in retail payment settings and increase community acceptance and recognition. The aggregate circulating market value of SAT is present $25 million. As a tiny market cap coin, it has been listed on HOO Exchange, Hotcoin Global, and Coinbig exchanges. In the future, the implementation of the SAT network ecosystem and application scenarios will accelerate.
About SAT: It was created in January 2021, it is not a novel concept. In the white paper, Satoshi Nakamoto has thoroughly described the plan that it is a lowest unit of Bitcoin; SAT, will become a new coin of the future. At the moment, the SAT Network is the first conceptual payment project in the DeFi industry.