| Nowadays, you can hardly surprise people by telling them that you use cryptocurrencies in your daily life. To give users more choice when sending and receiving funds, the EDC Blockchain team implemented a number of functions that allow you to take full advantage of the latest blockchain technologies on the EDC platform. The new functionality provides reliable tools for making secure transactions and a wide range of options for transferring funds.
The main feature for users who value privacy when transferring funds is the ability to make completely anonymous transactions. As you know, ordinary crypto payments are only partially anonymous: the blockchain makes all transactions and their history public but it does not determine who exactly is the person behind a certain wallet address.
This type of anonymity is often called pseudo-anonymous privacy or pseudo-anonymity. You can compare it to a writer writing under a pseudonym. The author can stay incognito as long as nobody knows his or her real name. But as soon as it is revealed that he is the author of the books, the pseudonym thing stops working, and all of his or her work is no longer a mystery.
This is what happens when anonymous transactions are made: as soon as your address in the blockchain is connected to your personal data, your transactions history will be immediately disclosed, while there is a large number of tools to connect a wallet address to its owner. However, the anonymous transactions feature will help you stay completely anonymous when you need to be.
Another innovation from the EDC Blockchain team is the code-package function, which represents sending a specially generated code to the recipient of the funds. Inside the code, there is information about the amount of the transaction. In order for the recipient to get the money, they have to enter the code. It provides our system with an additional layer of security!
The channel through which the code is transferred to the recipient is unknown. We are basically dealing with double authentication; it’s like receiving a text message when using a bank card. It’s not enough to have a card or a phone number linked to this card, as you need to have both at the same time, and according to the logic of banks, only the true owner of the account can have them.
The code package is a blockchain interpretation of such protection. A significant advantage that this type of transaction provides is the ability to specify a refund date. If the check hasn’t been used after the refund date expires, the funds are returned to the check creator. Transactions in the Bitcoin network are irreversible, which creates all kinds of risks of errors or unwanted actions, and, accordingly, often leads to loss of user funds.
Thus, the platform security solutions offered by EDC Blockchain give users a complete guarantee of the safety of their funds and open up additional opportunities for making transactions!
In addition, the code package has one more advantage, which is the ability to send the code to third parties. The code package can be easily used in loyalty promotions or as gift certificates, and clients can always use their blockchain bonuses at any time that is convenient for them! This is one of the manifestations of EDC Blockchain's mission: global tokenization of small and medium-sized businesses using the latest digital technologies!
Creating a code package is very simple - just open your personal EDC Blockchain account and click “Cheques”:
Now you can choose the amount of EDC coins for creating your check, specify the validity period of the code, and in case your recipient hasn’t used your code before the validity period is over, the coins will be returned to your wallet.
After that, you can generate a code for this package - only the owner of this code can receive the amount of funds specified in the check. It keeps your funds secured.
Red Envelope is another special feature for transactions on the EDC Blockchain platform, which most of our competitors don’t have. Red Envelope is an extension of the code package. The Red Envelope expands the possibilities of using the code package for many financial tasks, so it’s an important tool for platform users.
The most important difference between such a transaction and the code package is that several people can use the Red Envelope at the same time, which significantly increases the potential use of this tool!
To create a Red Envelope, just activate the reusable function of the check and then specify the number of people between whom the funds will be distributed. After that, it is necessary to generate a code which recipients can use to gain access to the check.
Send the code to your recipients, and they will be the only ones having access to the envelope, which completely eliminates the need to control the distribution of your funds. And if for some reason the coins remain unused, they will automatically be returned to your account after the date specified when creating the Envelope. This way, we can make so many things so much simpler!
You can find more information about the use of products and functional features of the platform in the Instructions section on the official EDC Blockchain website.
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