Cryptocurrency News

UPCX Wallet Set to Launch Public Testnet, Aiming to Reshape the Crypto Payment Experience

UPCX Wallet Set to Launch Public Testnet, Aiming to Reshape the Crypto Payment Experience

The launch of the public testnet will introduce various innovative tools, including mobile apps, browser extensions, testnet faucets, a blockchain explorer, and performance monitoring tools.

In the rapidly evolving cryptocurrency industry, usability and security have become primary concerns for users. UPCX Wallet is designed to simplify the cryptocurrency payment process. It has recently announced a series of eagerly anticipated new features while declaring that its public testnet is on the horizon.

The launch of the public testnet will introduce various innovative tools, including mobile apps, browser extensions, testnet faucets, a blockchain explorer, and performance monitoring tools.

The UPCX Wallet is currently in a closed network testing phase and is not yet available to the general public. This rigorous testing ensures that the wallet’s functionalities will operate as planned and meet the highest security standards before public release. The development team has indicated that once the test is fully built and operating smoothly, the testnet will be opened up for user experience.

Read More about Fintech : Gamification in Fintech: All About Customer Retention and Engagement

Key features of the UPCX Wallet include:

Usability

Named Account System: Users can simplify their experience by using easy-to-remember strings as IDs (such as usernames or email addresses), instead of complex blockchain addresses.

Flexible Payment Methods

1. Mobile Payments: Quick initiation (push) or receipt (pull) of payments by scanning QR codes.
2. Tap to Pay: Contactless payments are made possible through NFC technology, requiring only a touch on the payment terminal.
3. Offline Payments:
a. Enable payments in the absence of a network connection.
b. Offline transaction data will be temporarily stored on the device and synced to the blockchain once connected.
c. Ensures that no funds are moved while offline.

Security and Privacy

1. Anonymous Accounts and Transfers: Provides privacy features that conceal the identity of the parties and the transaction amounts.
2. Double-Spending Attack Protection: Ensures transaction safety and prevents the reuse of funds through design features.

Compatibility

1. Cross-Chain Interoperability: Achieves interoperability with other blockchains through the COSMOS protocol, supporting transactions in multiple assets.
2. Payment Processing Efficiency: Guarantees the rapid completion of transactions with high payment processing capabilities.
3. Super APP Ecosystem: In the future, the UPCX Wallet will become the core payment gateway within the UPCX Super APP ecosystem.

Asset Management

1. Multi-Asset Support: Trades of Market-Pegged Assets (MPA) and User-Issued Assets (UIA) are supported.
2. Decentralized Exchange (DEX): Built-in DEX functionality simplifies asset trading and exchange processes.

Community Network

1.  Encrypted Communication: Offers secure messaging functionality for encrypted communication on the blockchain.
2.  Anti-DDoS Attacks: Protects the network against DDoS attacks by limiting the number of complimentary messages per second and charging for excess messages.

With these innovative features, the UPCX Wallet aims to provide users with a comprehensive, convenient, secure payment and asset management platform. Its goal is to streamline the use of cryptocurrencies and promote their application in everyday life. As the public testnet progresses and the forthcoming user experience arrives, UPCX Wallet is expected to establish a foothold in the crypto payment sector and attract widespread attention.

UPCX is a blockchain-based open-source payment platform that aims to provide secure, transparent, and compliant financial services to global users. It supports fast payments, smart contracts, cross-asset transactions, user-issued assets (UIA), non-fungible tokens (NFA), and stablecoins. Moreover, it offers a decentralized exchange (DEX), APIs, and SDKs, allows customized payment solutions, and integrates POS applications and hardware wallets for enhanced security, building a one-stop financial ecosystem.

 Latest Fintech Insights :Fintech Trends 2024: How Can Enterprises Be Better Prepared?

 [To share your insights with us, please write to  pghosh@itechseries.com ]

Related posts

Amelie, Groupama’s Second Virtual Assistant Built on DRUID Technology, is now Available to the Company’s Clients

Fintech News Desk

VeriTran and Mambu Partner to Deliver Financial Digital Experiences in Record Time

Fintech News Desk

Bluefin Announces Completion of Elavon Certification for SUNMI Payment Terminal

Business Wire
1