Is PayCEC a blockchain?

27 Sep 2022

No, PayCEC is not a blockchain. PayCEC is a blockchain-based payment gateway that provides customers with a highly secured crypto transfer service by sending a confirmation OTP code in every transaction. Secondly, it permits users to add the company's logo, and fix the interface to match the brand’s color. The anti-fraud function would be one of the strengths of PayCEC. This blockchain digital gateway reaches the requirements of achieving PCI DSS certification and offers an account management system to evaluate transfer date, amount.

Differing from PayCEC, a blockchain digital gateway which is explained above as a transfer method for crypto coins, blockchain is divided into 03 versions. Blockchain 1.0 is mostly known as cryptocurrencies like Bitcoin and Ethereum. Blockchain 2.0 is used to advance digital financial contracts and financial applications. Third, Blockchain 3.0 will be used to build monitoring and management systems in various fields such as healthcare, education, and e-commerce.

Blockchain prevents data loss or stealing. Rather than all data being stored in a specific domain system, it is now distributed, which means the data is saved across every device the blockchain network is in use. The strength of this storage is that when an earthquake or tsunami hits an area, the data still works online and is retrieved quickly. Peer to Peer (P2P) is the operation of the blockchain, where each participating computer is called a node and has similar functions. The more computers that access the blockchain, the lower the risk of a hack occurring.

Read more:

• Crypto payment gateway
• Blockchain payment gateway