General logic of the system
Blockchain - a continuous sequential chain of blocks (linked list) containing information built according to certain rules. Most often, copies of block chains are stored on many different computers independently of each other.
Blockchain Test Network - A test network or testnet that is used for testing.
Exchange - a person who ensures the regular functioning of the organized market for exchange goods, currencies, securities and derivative financial instruments.
Cryptocurrency is a type of digital currency, the creation and control of which is based on cryptographic methods.
Crypto wallet (Digital wallet) is a software application that provides you access to all available crypto envelopes and allows you to manage your funds, store, receive and send electronic coins.
Verification - identity verification procedure
Fiat currencies - money unsecured by gold and other precious metals, the nominal value of which is established and guaranteed by the state, regardless of the cost of the material used for their manufacture
Miners - in the current context, these are members of the bitcoin network who, with the help of their computing power, carry out confirmation of completed transactions.
Transaction - an operation consisting in transferring funds (cryptocurrencies) from one address to another; sale transaction.
A proxy server is an intermediate server in computer networks that acts as an intermediary between the user and the target server (both parties may or may not know about mediation), allowing clients how to perform indirect requests (receiving and transmitting them through the proxy server ) to other network services, and receive responses.
General terms and concepts
The general logic of the system consists of 4 stages that must be completed in order to be able to carry out full-fledged work with the system:
3. Getting a wallet
The very first stage for the ability to use the system, at this stage, the user indicates the primary data:
And also come up with a password according to requirements
1. At least 6 characters in English
2. At least 1 digit
3. At least 1 special character
4. Alphanumeric combination
5. Uppercase letters
6. The presence of lowercase letters
The service does not store the user password, the service only stores the encrypted password code for the md5 system. When you re-enter the system, the system compares the encoded code of the entered password with the code that it has saved. If the comparison is successful, you are logged in.
An automatic password reset service is implemented if you forget your current password.
When you first enter the service, the user can familiarize themselves with the interface, however, they cannot use the wallet. To make this possible, you must confirm your identity by providing the necessary scanned documents:
1. Identity document.
2. A document proving the address of the place of residence.
To start the verification process, go to the “Settings” section and click the “Verification” button. Fill in the fields, as well as attach the relevant documents.
After confirming the sending, the system will go into standby mode of confirmation of identity.
After successful confirmation, the wallet service will be available
Also, if the user has a change in the documents, he can reset the verification, re-fill his data and confirm it with new documents. The received wallets at the time of the reset of the verification remain with the user and after re-confirmation they will again be available
To get a wallet, you need to go to the Wallet section and request to receive the address of the currency of interest from the system. This address is assigned to the user for the entire time working with the system.
Currently implemented work with 1 currency:
Exchange rates are taken according to publicly available sources on the Internet and are automatically converted to the ratio of Bitcoin \ Euro, Bitcoin \ AUD, etc.
Sending and receiving transactions
Currently, the system works with the Bitcoin TestNet network, this is done to enable the system to be tested in Beta-test mode, this system has only 1 difference from a real Bitcoin network:
The cryptocurrency that you can send and receive does NOT have value in fiat equivalent. This means that it cannot be bought and sold for real money.
However, during testing, you can see how the future wallet will work.
For the possibility of obtaining cryptocurrency in Bitcoin TestNet on the Internet, there are many taps (Faucet). By indicating to such a tap your address received in the system, you can make the cryptocurrency come to your wallet.
In the usual Bitcoin’a network, there are several ways to get cryptocurrency:
1. Buy cryptocurrency on the exchange, when it is withdrawn, you can specify the address issued by the system.
2. Receive currency as a miner of the system, indicating the address issued by the system
3. Receive cryptocurrency as a fee for any services and goods. (We remind you that services and goods should not contradict the law, as well as company policy)
Keeping the currency on the exchange is not a good idea in the Bitcoin community, this is also indicated by the trading floors themselves, usually only the amount that is traded is stored on the exchange.
In order to make a transaction from the system, you need to open the “Manage” of the selected currency, go to the “Send” section, specify the address or addresses of the recipient (s) and after confirming this operation, the system will send the indicated amounts.
You can check the transactions made in any open Bitcoin TestNet Explorer’e, which can be found on the Internet by request.
The system immediately binds to one of these browsers, however, if in doubt, you can do this check yourself by simply specifying the transaction number in another browser.
When checking, it is worth paying attention to the number of transaction confirmations. The system takes into account transactions and displays changes with the number of 2+ confirmed transactions.
The confirmation time depends on the speed of the transaction verification by the miners, and the main factor here is the transaction amount, which entails a higher commission for confirming the transaction.
Typically, 1 confirmation occurs every 10 minutes.
For more information on confirmation fees, see the next section, “Limitations and fees”.
Limitations and Commission
Transaction confirmations in the Blockchain system are necessary for the system to be able to verify the transaction, as well as for the inability to fake this transaction.
Commission for miners - this commission is automatically included in the system, this is the amount that other participants in the system receive for confirming your transaction. If you specify this commission as 0, your transaction will be in the queue for confirmation by other network participants, but its priority will be so low that its processing can take several years or more. The service is configured for a minimum standard commission so that transaction processing is completed in a timely manner. Usually this commission is calculated automatically and is indicated only when the transaction enters the network.
GBPay system commission - the service implements this commission in order to receive funds for the further development of the service. This commission is as follows
1. 0.5% of the transaction amount with a minimum amount sent from 0.01 BTC to 5 BTC
2. 0.3% of the transaction amount with a minimum sending amount of 5 BTC to 10 BTC
3. 0.25% of the transaction amount with a minimum amount sent from 10 BTC to 50 BTC
4. 0.15% of the transaction amount with a minimum sending amount of 50 BTC or higher
Creating Feedback Messages
The service of user appeals has been implemented, for its use it is necessary to go to the “FeedBack” section and then create a new appeal and text, if necessary, you can attach the necessary document, for example, a screenshot.
The connection to the service is through an encrypted (SSL) connection, which means that all transmitted data goes through a connection protected from interception. The transmitted data is encrypted in order to repulse the “man in the middle” attack, if an attacker can intercept any data, they will be encrypted. After a while, if he can decrypt them, they will no longer be relevant.
However, do not forget that your own security is also not superfluous:
1. Do not forget to change your password. As part of security, it is advisable to change the password once a month.
2. See the sender of the letter. Automatic letters from the system go from the sender to [email protected]
Currently, the real IP address of the system user is working through the proxy server of the cloudflare.com service, in this regard, the security table does not reflect the real IP address, but the address issued by this service.
Useful tips and tricks
If you think that someone has gained access to your account, you can reset the verification, the wallet will be frozen. Transactions are only possible with verified users. In the future, upon repeated verification, access to the wallet will be restored (address and balance will be restored at the time of verification reset).
With this technique, you can also freeze a wallet if you do not plan to use the service for a long time.
Also, if necessary, do not forget about the “FeedBack” service, we will be happy to answer your questions.
Further development of the service
Further development of the service involves the addition of new currencies to the Wallet service.
As well as the ability to work with fiat currencies. It is planned to introduce the Euro currency first
An example of using the service in the "testing" mode
To go to the wallet service, click on the “My Wallet” button on the central site blockchain.gbpay.cc
To register, you must open the registration form by clicking the "Sign Up Now!"
It is necessary to fill in the appropriate fields and come up with a new password
After creating and confirming the account, you will have access to the central panel, after which you need to do the verification procedure which is in the settings
There is a button next to reset the verification, it is available if you have already passed verification and want to carry out a repeated verification procedure
On the first page of verification, you must fill in the information about the person and the corresponding document
The second page indicates the place of residence
On the last page are attached the relevant documents for verification.
Before sending the form, a code is sent to your mail - confirmation to begin the verification procedure and download the relevant documents
After which the system goes into standby mode. Typically, the verification procedure may take up to 5 days.
After checking, you will receive an appropriate notification in the mail that the verification procedure has been completed, or a refusal with an indication of the reason.
In case of a successful check, your status will be changed to positive.
Upon successful verification in the wallet section, the corresponding service will become available to you, where you can get your personal address on the Bitcoin network or other supported cryptocurrency
Also on this page is the total balance of your cryptocurrency wallets in Euro for the current rate in relation to the Bitcoin cryptocurrency
By pressing the “GET” button, a new address in the Bitcoin network will automatically be assigned to you, and the “Get” button will be changed to “Manager”
By going to the appropriate cryptocurrency you get access to the transaction control panel
Also here, your balance will be displayed in the ratio of the current rate to Euro, and below the total amount of cryptocurrency
In beta test mode, you can get several funds to your address from any bitcoin testnet faucet for free.
Since all means of movement are carried out from address to address, simply indicate Faucet your current Bitcoin network address
Please note that you receive funds on the Bitcoin TestNet network. Real Bitcoin addresses have a different look. Also, the main Bitcoin network does not intersect with the TestNet network. Accordingly, it is impossible to send cryptocurrency from the test network to the main and vice versa.
Once received, systems usually give you a transaction number to track funds.
By transaction number, you can see at what stage of confirmation the received currency is now located. Pay attention to the field "Confirmations"
After a while, when you automatically update the data, you will notice that your balance has changed.
You can try to verify the transaction yourself in any other free source on the Internet. Just enter the appropriate query in any search engine.
By going to the appropriate service, tell the browser the number of your transaction.
After 2+ confirmations by the network, your balance will go to the “Confirmed” status. This means that your currency has been verified by other members of the Bitcoin network. The cryptocurrency passed the verification that the amount was actually sent to you and that this amount is assigned to your address.
After confirming the cryptocurrency, you can send all or part of the amount to another network member, or you can send several.
Just enter the wallet addresses and the amount in the appropriate fields
It is important to know that you are sending exactly Bitcoin to a Bitcoin address, you cannot send Bitcoin to an address such as Litecoin.
If you were given the address of a different currency or you provided the address of the wrong currency, the cryptocurrency will not reach the recipient.
After sending the amount, the cryptocurrency will switch to the “Unconfirmed” mode if you send part of the currency according to the example, you must wait until the network confirms your balance again.
Other participants in the Bitcoin network will confirm that you really completed the transaction, sent part of the funds, and the balance should be returned to you.
An advisory transaction entry appears in the history.
After passing the confirmation, your balance will again be available to you, and you will be able to create a new transaction in the Bitcoin network