Flexa is designed to allow you to spend any cryptocurrency from any wallet, be it custodian or non-custodian. For this to happen, the network uses FXC as collateral to ensure that merchants are always paid for transactions, processed through our real-time infrastructure.
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Description of the Flexa project
One of the main goals of Flexa - to allow any cryptocurrency to be spent in real time in any context. Ultimately, the decentralized nature of digital currencies makes this difficult: on some blockchains, transactions can take tens of seconds or even several minutes to be confirmed. One possible approach to increasing the speed of transactions - to anchor them on top of legacy payment instruments such as debit or gift cards. But it jeopardizes the cost savings, safety benefits and other benefits that blockchain-based cryptocurrencies can offer.
Instead, the creators are developing an entirely new payment infrastructure. It integrates as closely as possible with existing merchant payment systems, thereby preserving the resistance to fraud inherent in cryptocurrencies. And to enable this infrastructure for as many wallets as possible, a new collateral platform has been developed that uses a new digital collateral token, called Flexacoin (FXC).
Flexa introduces 2 main features:
| Firstly | A tool for providing collateral to the Flexa network and distributing it to Flexa-enabled wallets. |
| Secondly | This is a live view of your network bandwidth. With its help, anyone can see the total cost of unconfirmed transactions that the network can support at any given time. |
Before a POS sale occurs, the capacity of the smart contract blocks a commensurate amount of FXC against the fiat purchase value. The wallet, making the purchase, sends the equivalent amount of digital currency to the exchange address. Finally, once a digital currency transaction has been sufficiently confirmed on the chain, FXC's collateral lock will be lifted, allowing it to support any future network activity.
Additional information
There are no WhitePaper and RoadMap documents on the site. You can get information about the project through the blog on the Medium platform.
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