How is Globalipay (GIP Coin) different from any other Digital Payment System?

How is Globalipay (GIP Coin) different from any other Digital Payment System?

Global I’Net Payment Solutions or GIP is a payment solution based on the ERC20 token standard of the Ethereum Blockchain. While there are many online digital payment solutions on the internet, GIP stands out from the crowd owing in being the one of its kind true decentralized payment method that offers anonymity to its users with no limit on the number of transactions. In this blog, we share some key features that separate the GIP Payment Solution from any other existing Digital Payment System.

Security: Modern day Digital Payment Systems are centralized by nature. This means that they are prone to hackers and cybertheft. However, GIP offers a secure payment solution based on the ethereum Smart Contracts. The Smart Contracts are encrypted and cannot be edited. The transaction terms and agreements are predefined and transactions are possible only at the trigger of coded conditions. This makes the GIP Payment platform a very robust payment solution.

Transparency: All transactions on the GIP platform are part of a decentralized distributed append only ledger. This means that each participant or GIP token owner will have a copy of the public ledger containing all transaction history. And these transactions are immutable by nature. Hence, an update to the GIP ledger is reflected on all ledger copies with the participants or GIP token owners.

Interoperability: The ERC20 standard makes GIP token intrinsic part of the Ethereum Ecosystem. This means that GIP Token will be tradable across all exchanges as well as with other utility ERC20 Standard tokens. Most importantly one can also seamlessly avail other services and goods on offer by other tokens on the Ethereum environment. What this means is that GIP token owners will be part of the growing marketplace of goods and services on offer in the Ethereum Network. This offers two main benefits:

All services and goods will be cheaper when compared to the ordinary digital platforms as there is no middlemen service charge on these goods and services. GIP Token can be a major trading medium for other ERC20 standard tokens.

Liquidity: Liquidity remains a major concern for Bitcoin, the world’s first true digital currency. However, this is not the case on the Ethereum environment. The Ethereum environment has witnessed a huge influx of ERC20 standard tokens over the last couple of months. A very important characteristic of any crypto token/coin/currency is that they are limited in supply. This is an advantage contrary to the skeptics. This pegs them to an increasing value curve on a YOY basis. Limited number promises that the value of the GIP Token will increase with time. Also, the inter-trading with other ERC20 standard coins makes liquidity a minimal concern as far as the Ethereum Marketplace is concerned.

In conclusion, we can say that more than the decentralized nature it is the smart contract and the ERC20 standard specs that make GIP Token the true digital payment solution. The ICO sale for the GIP Token is live now. For more on GIP token Distribution and Sale offers please read the GIP WhitePaper.

How The GIP Token Transaction Works

How The GIP Token Transaction Works

GIP Token is based on the ERC 20 standard of the Ethereum Blockchain. It inherits three basic features of the Ethereum blockchain i.e Transparency, Fluidity and Scalability. All records are maintained in the form of a decentralized ledger on the Ethereum network. All nodes or users part of the GIP Network maintain an immutable copy of the ledger.

However, there are other layers of GIP token which deserve a brief explanation. In this blog, we explore and analyze the complex functions and procedures involved in a GIP Token Transaction.

Getting one’s head around a Blockchain transaction can be confusing but this blog tries to keep the technicalities at bay as much as possible. We hope by the time you end up reading this blog you would better understand How The GIP Token Transaction Works.

Request Creation

The first and the foremost step is initiating the transaction. GIP makes sure that the process is as simple as it gets. The user only needs to tap on the ‘Push’ button on the GIP Platform or GIP Wallet for this. Once this is done by the sender/receiver, the token transfer process starts.

Request Broadcast

The blockchain is a peer to peer network. This means that the initiation/transaction requests are sent to all participants on the GIP Network. The broadcast of transaction requests is paramount for public ledger creation.

Validation

Validation is paramount in all Blockchain related transactions. Validation rules are unique in nature. Each participant node on the GIP P2P Blockchain Network validates this request based on the pre-defined validation rules. They are predefined algorithms set by the GIP Token developers.

Ledger Creation

Ledgers are nothing but public credit-debit records. If the transaction request is validated by all participants, the transaction is stored in the form of a block. This block contains the following important information that constitutes the block :

  • The details of the sender.
  • The details of the receiver.
  • Transaction details.

The Block is now secured with a hash code i.e a cryptic function. The block is now locked.

Block Addition

The Block sealed with a lock i.e hashcode is not yet part of the GIP Blockchain. The lock on the block is validated by other authorized systems on the GIP Network. Some call these computer systems as miners. Once validated the new GIP Block is added to the GIP Blockchain.

Transaction Completion

Post lock confirmation and block addition, the transaction is complete. It is immutable and becomes a permanent part of the public ledger.

The GIP Token Transaction is no more than a six-step procedure. But users only need to tap on a single button and the other things play out by themselves. We hope that this blog clears any pre-existing confusion about how the GIP Token Transaction Works.

How To Invest In GIP Coin? What Are The Steps To Buy GIP Token?

How To Invest In GIP Token?

The sale for GlobaliPay, or GIP token, has started now. The company is selling a percentage of its tokens in order to raise funds for developing a top-class crypto digital payment system. Investors from all over the world are invited to participate in the GIP coin sale, which will be held during May and June, 2018. You can find here the procedure for investing in our token.

GIP is an unregulated blockchain based digital currency backed by a powerful global digital payment system (wallet and exchange) that can be used for making low-cost asset transactions globally.

How to participate in GlobaliPay ICO?

The initial coin offering (ICO) sale of the GIP will be held in multiple phases. The pre-sale is scheduled in May-June 2018.

There is a single registration for participating in all the sales. Users can obtain GIP ICO registration through the official website by following the step by step procedure mentioned below.

Step 1: Registration on GlobaliPay Website

  • Visit the website globalipay.com and click on ‘sign up’ option at the top.

Registration on GlobaliPay

  • A new registration page will open. Provide your name, email, phone number, and other details. Enter a username and password for your new account.

new registration page

  • Enter a referral code if you have one. Click on sign up button to continue.
  • A confirmation link will be sent to the email id you provided.

Step 2: Sign in to participate in the ICO sale

  • Confirm the link sent to your email id. The link will redirect you to the login page on GlobaliPay website.
  • Enter your username and password and click on ‘sign in’ button to log in to your GlobaliPay account.

login page

  • You will be redirected to your dashboard, which looks like this.

dashboard page

  • Your wallet balance along with the current rate is shown on the page.

Step 3: Adding funds to your BTC/ETH Wallet

  • Before proceeding to buy GIP tokens, you need to make sure that you have adequate funds in your BTC or ETH wallet. If not, you can add funds directly from your dashboard.

* Minimum amount that can be added at a time should be equal to $100 or more.

add funds in wallet

  • Enter the amount you want to add and click on ‘Add funds via BTC/ETH’ button. A QR code will be shown on the next page.
  • Open your BTC or ETH wallet and scan the QR code displayed on the page to make the payment.
  • Once the payment is made successfully and verified by GlobaliPay, funds will reflect in your dashboard. It may take up to 1 hour for the transaction to be verified before the fund is approved.

Step 4: Buy GIP Tokens

  • Once the funds are credited to your GlobaliPay account, you can proceed to buy the tokens.
  • Click on ‘Buy Token’ link at the top of your dashboard.

Buy GIP Token

  • Select the payment method from Bitcoin (BTC) and Ethereum (ETH).
  • Enter the amount of BTC/ETH you want to spend on buying GIP tokens. The equivalent amount of GIP will automatically reflect in the second field. Click on ‘next step’ button to continue.
  • Confirm your purchase.
  • The amount of GIP tokens purchased by you will reflect in your GIP wallet on your dashboard.
  • You can use your GlobaliPay account to manage your GIP tokens or trade them for BTC or ETH tokens.

 

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