Two Blockchain Infrastructures Together in One Application!
We have released our current version by developing a new technology for MenaPay, the first blockchain-based payment system covering Middle Eastern and North African countries. Two different blockchain infrastructures are now available to be stored and managed in a single application. In the MenaPay application, we have created a new wallet where Ethereum-based tokens can be deposited, as well as the MenaCash wallet, which is now used for payment and money transfers.
MenaPay’s software and development team of 20 people have worked for about two and a half months to actualize one of the most critical user experience improvements for Blockchain-based mobile wallets. In the MenaPay application, which is updated with new developments realized by new investments, users can now store and manage their cryptocurrencies produced in different blockchain infrastructures with a single password. Users will be able to store and manage their MPAY Tokens with their MenaCash. Until today, there used to be only MenaCash, namely a wallet for the stablecoin in the MenaPay payment application. With this new update, users will also have a wallet for their ERC-20 based tokens.
2 different wallets with one Mnemonic
Users are given account recovery words called “mnemonic’s”, to be used as safety keys in case users would want to delete the application or access their digital wallet via another phone. Thanks to our research and observations, we have realized that assigning different mnemonic words to different blockchain infrastructures is very challenging in terms of user experience, so we have decided to invest in this field quickly. The infrastructure of our application can now generate key pairs in different formats from the same mnemonic words. The key pairs produced in the BIP32 format for the Stellar Blockchain Network are available to users upon conversion to the BIP44 format that is compatible with the Ethereum Blockchain Network.
A transaction fee is charged to register and protect the blockchain network for every transaction on the Ethereum blockchain network. With MenaCash, MenaPay users can now pay transaction fees for the MPAY Token transactions via the mobile application. Thus, MenaPay users can make fast and secure transactions in the crypto world without interruption.
The MenaPay products and services, developed by an expert software team, are delivered to application stores upon having completed a test period. As the first product of the MENA region in this field with the rapid and secure transfer transactions that Blockchain technology offers, we aim to create significant value for users with this new technological development.
Android: http://bit.ly/2pg5Ovw
