Digital currency is a money balance recorded electronically on a stored-value card or other device. Another form of electronic money is network money, allowing the transfer of value on computer networks, particularly the Internet. Electronic money is also a claim on a private bank or other financial institution such as bank deposits.
Digital money can either be centralized, where there is a central point of control over the money supply, or decentralized, where the control over the money supply can come from various sources.
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TokenPay is a decentralized and self-verifying payment platform project. Based entirely on mathematics it is designed to enable secure transactions between multiple parties. With maximum user security as the focal point, the system is accessed exclusively through the encrypted Tor Browser. Transactions are conducted with its own proprietary and untraceable cryptocurrency called TPAY that is embedded with the latest and most advanced safety features. These characteristics include a stealth addressing system, encrypted messaging, completely anonymous trading and a uniquely designed hashing algorithm that enables fast and secure transactions under any conditions.
The robust digital ecosystem is further fueled by a custom built 2-of-3 Multisignature Transaction Engine (MTE). This advanced protocol protects the user of the TPAY currency. This is because each party must approve the transaction before the corresponding data is published on the blockchain. Unlike a traditional payment service, there is no centralized handling of user funds at any point in time. Participants generate their own pairs of private keys and public addresses. While the private keys are kept secret, users freely distribute the public addresses.
Therefore, when a TPAY blockchain transaction is initialized, all parties sign with the corresponding private key. This signature acts as the analogous action for a particular public address. The transaction becomes automatically becomes fully executed because all parties on the blockchain are able to then verify these signatures using the public addresses. There is no need for a TokenPay user to reveal their private key to anybody. As a result, transactions are conducted with complete security, anonymity and without any counterparty risk typical of a conventional payment platform
TokenPay has incorporated a peer to peer encrypted instant messaging system using algorithms to maintain private conversations when using the TokenPay Wallets. All of the messages sent and received are encrypted by the proven AES-256-CBC algorithm and distributed between nodes in such a way as to prevent the recipients messages from being hacked or viewed by anyone that it was not intended to, even if the hacker can view the entire network and/or run nodes of the network. To reduce significantly the risk and inconvenience of sharing passwords, we implemented the proven and trusted method of Elliptic Curve Diffie-Hellman or also known as ECDH key exchange. This level of encryption is at the same level as what governments use for top secret files.
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