SMS Transactions

The innovation of SMS transactions and how they work :

🔹 The application that we are imagining is a unique innovation that allows you to initiate and send cryptocurrencies with limited connectivity, simply via SMS, to a wallet or an address to receive your funds.

🔹 This system will be designed for everyone, but the objective is to facilitate transactions in rural or low-connectivity areas, developing countries and during humanitarian crisis situations, where Internet access may be limited or non-existent.

🔹 Let's not forget that even in areas without Internet, the traditional telephone network can in most cases allow you to send SMS messages.

🔹 Thanks to the technology we are studying, we want to facilitate access to decentralized finance (DeFi) in underserved areas.

🔹 The application we design will encrypt and sign the transaction, then send it to a relay server, as soon as the sending of the sms accesses the blockchain, the server will transmit the transaction, which can save considerable time when the We cannot be sure of being able to access our wallet, for example.

🔹 This server that we are going to set up can be hosted by a local provider, an operator, or a decentralized service based on Ethereum depending on the advantages / disadvantages.

🔹 We may use Infura, Alchemy, or a self-hosted Ethereum node to interact directly with the blockchain.

🔹 The relay server will decode the transaction and verify the cryptographic signature to prevent fraud.

🔹 It then broadcasts the transaction to the Ethereum network via a blockchain node.

🔹 Regarding private keys and upon registration, each user receives a private key in an encrypted format.

🔹 This key is never stored on our servers, ensuring complete user ownership.

🔹Encryption uses AES-256 and can be backed up using a secure phrase, allowing recovery in the event of a problem or lost phone.

Security :

We study and have already taken into account several parameters with a high level of security to protect user funds :

✅ Transaction encryption: Each transaction is signed with a local private key and sent in encrypted form.

✅ Secure relay server: It cannot modify or steal funds, it simply acts as a transmitter.

✅ Ethereum Smart Contracts: All transactions will be transparent and immutable, without a trusted intermediary.

✅ Protection against fraud: Each transaction will be validated by a unique digital signature.

✅ The user retains full control of their funds, no private keys are stored on the servers....

For more information, do not hesitate to consult our WhitePaper by clicking on the button below: