Alacrity Network was created with the intention to bring internet neutrality and ensure that using blockchain-based decentralised applications (DApps) can be as simple as using any internet website or application. To attain that goal, Alacrity has a multitude of features and services that help community members experience blockchain in the most unique and efficient way.
The Alacrity Integrated Oracle helps app developers import any kind of data from the real world to make their applications more convenient and useful for its users. Zero transaction fee and user nodes are an effective way through which Alacrity creates a more user-centric ecosystem. There are many more such features and Alacrity Network is adding two more to the list:
- Escrow payment links
- Coin Creation Application
Let’s take a closer look at both of these.
1. Escrow payment links
To use a blockchain payment application or send cryptocurrencies to someone, it is mandatory for the receiving party to have an existing crypto wallet that supports that currency. This is also how traditional payment systems work. On the surface, it may seem normal, but this impacts how well cryptocurrencies are adopted.
As we know, only a small part of the world population today owns cryptocurrencies or transacts using them. So, it is quite obvious that most do not own a cryptocurrency wallet. This keeps them cut off from even experiencing the world of virtual currencies, let alone being a regular user.
By using escrow payment links, users on the Alacrity Network can send cryptocurrencies to people who do not yet own a crypto wallet. They will need to allocate an amount in cryptocurrency and generate a payment link that they can send to the receiver. Once the link is generated, the allocated amount is safely sent to an escrow wallet.
The receiver upon receiving the link will need to use the link to sign up on the Alacrity Network, which will automatically create their crypto wallet. The payment amount will then reflect in the receiver’s crypto wallet.
In case the receiver does not utilize the link to create an account on the Alacrity Network, the sender will receive a refund after a fixed number of days.
This will allow the already existing crypto community to bring in more exposure and adoption for cryptocurrencies.
2. Coin creation application
Alacrity Network is also adding a coin creation application within the Alacrity ecosystem. It will allow developers to create their own coins for the applications they build on the platform.
The current platforms such as Ethereum allow users to create new coins on their platform, however, they require a certain amount of development skills. Companies might need to hire a developer to help them create a new coin on these platforms.
This changes with the introduction of Alacrity’s coin creation application. Users can create a security token, a utility token, or a stablecoin in a minute or less.
Coin creators will have the complete discretion to choose a unique name for their coin within a 12-character limit. And they can also set a 3-character ticker for their coin. And while the Alacrity Network itself does not charge any transaction fees from its users, coin creators on the network can decide for their coins whether or not they want to charge transaction fees.
Accessing and using cryptocurrencies and blockchain-based applications still remain a complex process for most. In order for the cryptocurrency industry to reach a wider population, the primary goal is to lower that barrier and make the process as simple as possible. And the Alacrity Network is working in that direction. With time, it will help people access cryptocurrencies just like fiat money and will let them surf through blockchain applications in the same way they today access other internet services and applications.