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ICO Eurocoinpay – Rating 2.2/5.0

Fintech ZOOM reviwed the whitepaper of Eurocoinpay (https://eurocoinpay.io/storage/downloadable/white-paper-ect-en.pdf) and presents the following questions:

WP: Eurocoinpay, from the user’s point of view, is a payment application that allows the user (client and business) to pay and receive payments in the crypto currency they desire. From a technical point of view it’s the first exchange with balances that can be used on a daily basis thanks to the payment application developed for iOS and Android.

The following is a list of all of the parts that make up the Eurocoinpay Ecosystem:

  • Point of sale, the business establishes a connection to our platform through a web browser (a dedicated PC is recommended), for better performance and adaptability.
  • Entering our web platform, access the payment with an ID, a unique identifier that Eurocoinpay provides, and, at the same time, is linked by a key to your cryptocurrency
    wallet.
  • Within the Platform, you should first establish your preferences, selecting the cryptocurrencies that you will receive from clients. It’s important to clarify that each
    cryptocurrency will then have its own wallet on the platform.
ZOOM Question: It is important to distinguish between different types of users and which technologies to use. For example, can the user in the app generate sales orders?

 

WP: Eurocoinpay truly is an integral solution to the mechanics of micropayments.

ZOOM Question:  What is the limit of Micropayments?

 

WP: When a storage user wants to upload a file through EurocoinToken, the file is divided into parts and encrypted locally in the browser. This isolation ensures the impossibility of a malicious user to retrieve the data since it can only be accessed with the corresponding encryption key, which is known as the handle.

ZOOM Question: It is important to clarify the various security mechanisms in the PPAs, both in Webiste and in infrastructure. Are the keys stored in the databases? Who has access to databases?

 

WP: The regulatory agency in Spain is the CNMV and as soon as we have knowledge of legislation and regulations, we will contact them to follow their recommendations and regulation.

ZOOM Question:  When do you get the license to operate?

 

WP: Demonstrating a platform secure from DDOS

ZOOM Question:  It is not possible through the Whitepaper to realize what kind of DDOS attacks the platform can withstand. Is there any audit done by security company?

Aneta Larkins

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