Bitcoin is the first successful internet money based on peer-to-peer technology; whereby no central bank or authority is involved in the transaction and production of the Bitcoin currency. It was created by an anonymous individual/group under the name, Satoshi Nakamoto. The source code is available publicly as an open source project, anybody can look at it and be part of the developmental process. Bitcoin is changing the way we see money as we speak. The idea was to produce a means of exchange, independent of any central authority, that could be transferred electronically in a secure, verifiable and immutable way. It is a decentralized peer-to-peer internet currency making mobile payment easy, very low transaction fees, protects your identity, and it works anywhere all the time with no central authority and banks. Bitcoin is design to have only 21 million BTC ever created, thus making it a deflationary currency. Bitcoin uses the SHA-256 hashing algorithm with an average transaction confirmation time of 10 minutes. Miners today are mining Bitcoin using ASIC chip dedicated to only mining Bitcoin, and the hash rate has shot up to peta hashes. Being the first successful online cryptography currency, Bitcoin has inspired other alternative currencies such as Litecoin, Peercoin, Primecoin, and so on. The cryptocurrency then took off with the innovation of the turing-complete smart contract by Ethereum which led to the development of other amazing projects such as EOS, Tron, and even crypto-collectibles such as CryptoKitties.
Paytomat is a blockchain-based payment processing system created to help merchants, consumers and crypto core teams to find each other and create real life traction for cryptocurrencies as emerging method of everyday payments. Built as a decentralized autonomous organization and decentralized franchise, Paytomat features two unique loyalty programs based on the PTM coin, incentivizing merchants to accept payments in crypto, and PTX token, incentivizing end customers to pay with crypto. For the purposes of the token sale we will use token called PTI based on EOS blockchain. Paytomat is a set of blockchain software solutions, already used by more than several hundreds Merchants to accept crypto in cafes, restaurants, beauty salons etc. Our product integrates into existing point-of-sale systems or offers a standalone solution without the need to purchase additional hardware. We hedge the risks, increase speed and streamline payments in multiple cryptocurrencies. For the Сustomer, it’s as easy as scanning a QR code with our own or any other compatible crypto wallet, and pay in one of the 15+ cryptocurrencies currently supported by Paytomat. For the Merchant, the enrollment is free and is done either via their POS (updating the software) or installing the Merchant App provided by Paytomat. The in-house developed proprietary system is now being migrated to EOS and includes “Paytomat Core” in the form of an EOS smart contract and services responsible for keeping Merchant accounts and balances, Merchant interfaces (Merchant Web Panel, Merchant App, POS integrations and e-commerce plugins) and consumer apps (non-custodial cryptocurrency wallets).