This december, when the price of bitcoin was skyrocketing, there was also an influx of people who don't understand how blockchains work to entering the cryptocurrency space. Then as the price started to fall, people seemingly lost what they had once seen in cryptocurrency, as if it's only purpose was an investment. The finance world is on the verge of a complete transformation, but the systems created by coders for coders are holding back the entire cryptocurrency ecosystem from being widely adopted.
The truth is that cryptocurrency has significant advantages over traditional fiat, but today there are so many unnecessary downsides and hurdles that it only makes sense to use a debit card in favor of cryptocurrency. Our inspiration for the project started by looking at where the cryptocurrency space is headed, and designing a more user friendly future.
More specifically we looked at the hurdles that discourage people from diving deeper into cryptocurrency, and designed a blockchain that can be applied on top of any cryptocurrency to patch user experience design flaws without requiring centralization.
We designed and implemented a request blockchain that allows users to create a transaction that has to be confirmed by the receiving party, where the transaction can be revoked before the receiving party confirms. This layer seemingly adds complexity, but it has parallels to how we physically interact with money, as well as prevents users from losing funds forever due to a typo. This as well as an intuitive naming system allows for a much more approachable cryptocurrency experience
Our blockchain was designed to be cryptocurrency agnostic so that any cryptocurrency could add a layer on top to that any cryptocurrency can use it, leaving no excuse for leading cryptocurrencies to continue to be prohibitive to newcomers.