Merge is the collaborative result of multi-functional teams and individuals who focus on providing Software as a Service (SaaS) powered by the Blockchain. With the support of the MERGE Cryptocurrency, it provides a wide range of solutions for crypto and non-crypto oriented users, teams, and companies.
In order to provide our solutions, we use a cryptocurrency that supports all transactions that run over the blockchain. Such cryptocurrency is called Merge and uses the ticker MERGE. It comes with several features, such as masternodes and proof-of-stake to reward those users that hold the coin and support the network.
Merge's digital wallet serves as a cryptocurrency wallet that stores MERGE's public and private keys and allows the reception and expenditure of the coin. Moreover, the wallet does take benefit of the coin's features by providing the following options:
Having our cryptocurrency as the basic element for transactions and agreements, our ecosystem focuses on providing income to developers and offering unprecedented benefits to users and partners who consume services, thanks to the use of Tokenomics.
Additionally, we work on the development of Membrane, a platform for developers and companies that help build blockchain-based apps and work on existing software that is aimed to integrate with blockchain technology.
Developers are invited to build apps and any software solutions they wish to publish with us. These can be blockchain and non-blockchain based.
Their creations are transitioned, if not already, to Software as a Service that will be advertised to our users and partners.
These services can be charged via subscriptions, with our Escrow Services using Tokenomics, or one-time or commission-based payments.
Developers get paid by us for the services being in use.
1. Services that use Tokenomics: these are services that fully benefit consumers, as they do not lose the tokens they credit in order to use the mentioned services. After making an initial deposit to secure a service, our Escrow Services are in charge of keeping the deposit safe and paying the developer that provides the service during a predetermined period.
Both the developer and user/partner can agree on a service renewal by the end of the service period. We will keep on paying the developer until one of the sides decides to not renew the service at the end of the current period. At that moment, we return to the user/partner the tokens that were deposited to secure the service. This way, the tokens were simply borrowed and not spent by us.
2. Services that require one-time or commission-based payments: these are services that do not require subscriptions, but rather a one-time payment, or e-commerce solutions that take commissions from purchases on the Web.
Merge acts as a third party between developers (providers) and users and partners (consumers), regulating the flow of funds in a given transaction.
This Escrow Service adds a layer of security to the transaction by keeping the tokens in a safe place, releasing it only when the terms of the agreement are met. Particularly, we act as the escrow agent, or trusted third-party, for holding MERGE tokens between the two transacting parties.
We pay on behalf of the consumer for the services being in use. The key concept is that, unlike other traditional escrow services, we pay the consumer's bills without touching her/his capital or principal amount. This is possible thanks to the token economics, or Tokenomics, that is being applied:
During the time of the agreement between the consumer and the provider, our Escrow Service stakes the consumer's MERGE tokens and also places them in masternodes. These produce staking rewards for providing security and connectivity to Merge's blockchain.
These rewards, in turn, are used to pay the provider. Thus, we protect and make smart use of the consumer's deposited capital.
The terms of the agreement can be extended by both parties, allowing the consumer unlimited use of the service. The consumer's deposited capital is returned to the consumer once any of the two parties decide to not extend the terms of the agreement.
The list of Software as a Service includes a set of services that leverage effort to crypto enthusiasts and companies, allowing them to focus on their specific goals, and letting Merge cover their basic blockchain and cryptocurrency needs.
Other services help teams and companies extend their offering to end users.
Services with one-time or commission-based payments.
A blockchain, is a growing list of records, called blocks, which are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp and transaction data (generally represented as a Merkle tree root hash). By design, a blockchain is resistant to modification of the data. It is "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way". For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for inter-node communication and validating new blocks. Once recorded, the data in any given block cannot be altered retroactively without alteration of all subsequent blocks, which requires consensus of the network majority.
Blockchain databases consist of several decentralized nodes. Each node participates in administration: all nodes verify new additions to the blockchain and are capable of entering new data into the database. For an addition to be made to the blockchain, the majority of nodes must reach consensus. This consensus mechanism guarantees the security of the network, making it difficult to tamper with.
- Decentralized control: Distributing administrative powers or functions of a central authority over a less concentrated area.
- Confidentiality: Being a write-uncontrolled, read-uncontrolled database. That means anyone can write a new block into the chain, and anyone can read a block in the chain.
- Timestamping: Cryptocurrencies use various timestamping schemes to "prove" the validity of transactions added to the blockchain ledger without the need for a trusted third party.
- Anonymity: Cryptocurrency is pseudonymous rather than anonymous in that the cryptocurrency within a wallet is not tied to people, but rather to one or more specific keys (or "addresses"). Thereby, cryptocurrency owners are not identifiable, but all transactions are publicly available in the blockchain.
The blockchain process of transacting and storing information on a decentralized, distributed ledger yields many benefits for enterprise application data:
- An integrated network, updated in real-time with always-consistent data.
- Ability to set rules for each blockchain enforces compliance.
- Tracing data from provenance to present to reduce disputes or discourage fraudulent activity.
- Increased efficiency of industry processes, reduced auditing costs.
- Consent, protection and control of consumer/customer data.
- High level of trust in repository of transactional data.
Traditional databases use a client-server network architecture. Here, a user (known as a client) can modify data, which is stored on a centralized server. Control of the database remains with a designated authority, which authenticates a client’s credentials before providing access to the database. Since this designated authority is responsible for the administration of the database, if the security of the authority is compromised, the data can be altered, or even deleted. Sources: https://en.wikipedia.org/wiki/Blockchain https://www.coindesk.com/information/what-is-blockchain-technology/ https://www.coindesk.com/information/what-is-the-difference-blockchain-and-database/
A cryptocurrency is an alternative form of payment to cash, credit cards and checks. The technology behind it allows you to send it directly to others without going through a 3rd party like a bank. This means you do not have to use your social security or credit score as collateral and allows you to be reasonably pseudonymous. In other words, cryptocurrencies are like virtual accounting systems. They keep a record of all transactions. The transactions are bundled into blocks, which are cryptographically signed (hence “crypto” currency) and the client doing the signing gets some number of units of virtual currency (and potentially transaction fees) as a reward for doing the work of calculating the cryptographic signature.
Cryptocurrencies use decentralised technology to let users make secure payments and store money without the need to use their name or go through a bank. They run on a distributed public ledger called blockchain, which is a record of all transactions updated and held by currency holders.
Cryptocurrencies are known for being secure and providing a level of anonymity. Transactions in them cannot be faked or reversed and they tend to be low fees, making it more reliable than conventional currency. Their decentralised nature means they are available to everyone, where banks can be exclusive in who they will let open accounts. As a new form of cash, the cryptocurrency markets have been known to take off meaning a small investment can become a large sum over night. But the same works the other way. People look to invest in cryptocurrencies should be aware of the volatility of the market and the risks they take when buying.
It is a digital wallet that stores the public and private keys which can be used to receive or spend a cryptocurrency. A wallet can contain multiple public and private key pairs. The cryptocurrency itself is not in the wallet. It is decentrally stored and maintained in the blockchain. With the private key, it is possible to digitally sign a transaction and write it in the public ledger, effectively spending the associated cryptocurrency.