It’s been an exciting week for Afripay!
We publicly launched our first strategic Token Sale some days ago and so far we have seen tremendous response from the general public.
As of the time of writing this, more than 18 percent of the allotted 10 Million APAY tokens have been sold.
Want to purchase our AFRIPAY ($APAY) Tokens? Click Here
We just landed a feature on Yahoo new, and Yahoo Finance. Check out the Exclusive article here.
We were also featured in Business Yield (Read Article Here)
Part of what made the story worthy of an exclusive feature was announcing our product is being built on Binance Smart Chain. Afripay is one of the very first out of Africa to build products on Binance Smart Chain.
We are proud to be the standard-bearers for all that come after us, as well as help other promising projects take advantage of all that Binance Smart Chain offers.
What is Binance Smart Chain?
Binance Smart Chain is an Ethereum Virtual Machine (EVM)-compatible blockchain that runs in parallel with the Binance Chain that enables smart contracts.
The Binance Smart Chain connects seamlessly with many familiar tools and infrastructure used by Ethereum developers to enhance user experience, security, and scalability.
By being EVM-compatible and connecting with existing Ethereum development tools, decentralized application (DApp) creation on the Binance Smart Chain becomes a walk in the park for an Ethereum DApp developer.
Reasons For Building On Binance Smart Chain
Binance Smart Chain is fully EVM (Ethereum Virtual Machine)-compatible and has support for the majority of the tools used by Ethereum developers such as Metamask, Remix, Truffle, Ganache-CLI, and more. Binance Smart Chain already has support for infrastructures like ChainLink and Band Protocol Oracles.
Ethereum developers can use most of the existing tools to implement DeFi DApps and existing DeFi smart contracts can easily port to the Binance Smart Chain with almost no effort. This significantly reduces development time for projects that build on multiple blockchains.
The consensus mechanism used in Binance Smart Chain is Proof of Staked Authority (PoSA), which combines features from Delegated Proof-of-Stake (DPoS) and Proof-of-Authority (PoA). This consensus algorithm is built on a network of 21 validators and can produce a block approximately every 3 seconds, which will greatly improve the speed of DeFi protocols built on the Binance Smart Chain, as opposed to the Ethereum blockchain that can produce a block in approximately 20 seconds.
For an Afripay user in South Africa, or Ghana that wants to make a transaction on the Afripay ecosystem, they can exchange their local fiat currencies and invest in stable currencies at any time in their respective regions in matter of 5 seconds with very low fees.
Afripay is the first payment protocol in Africa that leverages blockchain to facilitate cross-border payment without the need for a financial institution. Afripay used cutting-edge technology to help businesses in Africa to scale the hurdle of depending on financial institutions or traditional payment processors like PayPal, Skrill, and Perfect Money. With offices in Johannesburg, South Africa and Nairobi, Kenya, Afripay is committed to delivering top-notch decentralized payment services.
For an entrepreneur or a business person looking to receive payments from across the world without paying so much on fees or waiting for days for bank clearance, Afripay is the option. Afripay parades a team of competent and experienced IT Specialists, Developers, and Marketers with vast years of experience in the Fintech space. The mission of the company is simple — to liberate African businesses and empower budding entrepreneurs using the power of Binance Smart Chain.