NetCents Technology Inc. to provide an update regarding the company’s cryptocurrency merchant gateway technology advancements. The company has made progress in its key infrastructure and technology, ensuring the platform is future-proof for continued growth and scalability with a focus on critical areas including scalability, automation, security , DeFi and data analytics, with a focus on reducing platform costs. . Scalability and automation have been key areas for all technological advancements within the system.
In addition to using microservices, the company has begun dockerization, providing increased platform flexibility and optimization. Through dockerization, the company implemented a container strategy allowing the platform to become cloud-agnostic and automatically scale the company’s infrastructure up and down based on current demand. With these enhancements and the implementation of elastic data models, the Company has optimized its capacity by more than 25%, moving its infrastructure to a demand-driven model.
This allows the company to continue growing its FX merchant and processing volume without having to continually increase its expensive storage infrastructure and should reduce the company’s overall costs. The improved capacity and addition of microservices, along with the ability to scale platform infrastructure up or down based on demand, has given the company the ability to add over 1,000 crypto- currencies to the platform with minimal development costs and resources. While the company can now add all of these cryptocurrencies, it intends to continue its currency offering by focusing on major coins with market depth, demand, and a demonstrated history of generating large trading volumes. merchants while keeping the platform streamlined and intuitive to use.
Capacity allows you to stay agile and capitalize on emerging demand in a timely and cost-effective way. In addition to scalability and automation, the Company has focused its resources on improving and strengthening platform security by using state-of-the-art technologies in all aspects of the Company’s platforms. . The company has optimized its wallet workflow to minimize transaction costs and maximize the efficiency of internal cryptocurrency transfer and settlement using a hybrid solution architecture, including multi-party compute technology. The company has also upgraded its software and hardware in all aspects of its infrastructure to increase the protection of the platform against various online cybersecurity threats, ranging from phishing attempts and ransomware attacks to exploits. Distributed Denial of Service (DDoS) and the Internet of Things (IoT). ) botnets.
In addition to online security, the company has also protected its infrastructure from physical hazards, including natural disasters such as fires and floods, civil unrest, utility outages, and theft or vandalism of assets. hardware through a multi-cloud strategy, reducing potential business disruption. To make informed strategic decisions for the future of NetCents, the ability to access and interpret data is essential. Through the Merchant Gateway, the company collects a myriad of data points on every transaction, payment, sign-up and account update, providing incredibly detailed information on all aspects of the business, general market indicators and the behavior of merchants and consumers.
The Company has implemented an open source data analytics platform to gather and interpret this data in a meaningful way. This information enables all departments of the company, including accounting, marketing, technology, and customer service, to make critical business and revenue-generating decisions. As part of the data analytics initiative, the Company continues to add additional functionality and components to automate manual internal reporting processes.
A cost center for the Company is the maintenance of its technological infrastructure. Through these upgrades and integrations, the company has reduced the cost and maintenance of this infrastructure by integrating various services and automating workflows ranging from the settlement of transactions with liquidity providers, to the balancing of portfolios and maintaining network latency for incoming transactions. These upgrades reduced staff time and resources to support infrastructure, nodes, and servers.
In addition to short-to-mid-term platform advancements, the company has also focused on future-proofing the platform. Along with the ability to add and remove coins on demand, system upgrades open up new possibilities for integrating DeFi protocols into the NetCents ecosystem. DeFi, decentralized finance, uses emerging technology to remove third parties and centralized institutions from financial transactions.
DeFi eliminates the fees that banks and other financial institutions charge for using their services. Individuals hold funds in a secure digital wallet, can transfer funds in minutes, and can be used by anyone with an internet connection. The company has identified several strategic key components that can be used in the NetCents ecosystem, which would enable merchants to benefit and earn yield from cryptocurrency using DeFi protocols.