Project Name: CryptoFlow Project Track: DeFi Team Name: CryptoFlowTeam Team Member(s): @zephyrv DevPost Project Link: DevPost
Project Goal: CryptoFlow aims to simplify financial transactions within the decentralized finance (DeFi) ecosystem, enabling users to seamlessly manage both one-time and recurring payments through a secure smart contract infrastructure.
Project Value:
Enhanced Transparency and Trust: By utilizing blockchain technology, CryptoFlow guarantees transparent transaction records that are immutable and verifiable. This is particularly beneficial for users engaging in freelance work or subscription services, as both parties can independently verify payment statuses and histories, minimizing disputes.
Security of Transactions: Smart contracts eliminate the need for intermediaries in payment processes, thereby reducing the risk of fraud and enhancing the security of funds. Users can make one-time or recurring payments with confidence, knowing their funds are securely locked in a contract until the specified conditions are met.
Flexibility in Payment Options: The integration of both one-time and recurring payment capabilities allows users to customize their payment schedules according to their specific needs. Users can set up payments for freelancers or subscription services easily and even manage invoices directly through the application.
Streamlined Operations: Features like batch payments, invoicing, and address book management simplify the user experience, making it easier for individuals and businesses to handle multiple transactions efficiently. Users can also upload CSV files for bulk payments, enhancing operational efficiency. When making payments, users can enter the recipient’s name, and the application will automatically fill in the corresponding wallet address. This feature not only speeds up the payment process but also ensures transparency, allowing users to verify which address the payment is going to.
User Empowerment and Control: CryptoFlow empowers users with control over their financial transactions, allowing them to manage their funds directly through the application. Users have the ability to cancel or transfer payments based on pre-assigned permissions, ensuring fairness and transparency in financial dealings.
Future Scalability: The architecture of CryptoFlow is designed for growth. Future developments, such as integrating fiat price conversion and enhancing user experience, ensure that the application can adapt to changing market conditions and user needs, keeping it relevant in the ever-evolving crypto landscape.
Open your web browser and navigate to the application’s URL.
Connect your MetaMask wallet to the platform.
Switch your network to BitTorrent Chain Testnet.
New One-Time Payment
Choose Payment Timing: Decide whether to execute the payment immediately or schedule it for a specific date and time.
Add Multiple Recipients: If you wish to send payments to multiple recipients, click on the “Add Recipient” button.
Enter Recipient Details: For each recipient, provide their wallet address and specify the amount to transfer.
Review and Confirm Your Payment: Carefully review all entered details to ensure accuracy. Once verified, click the button to finalize the transaction.
Recurring Payment Setup
Select Token for Transfer: Choose the token you want to use for recurring payments.
Set Start Date for Payments: Specify the start date for when the recurring payments will begin.
Define Transaction Permissions: Indicate who can cancel transactions and who has the authority to transfer funds. This step adds an extra layer of security to your payment arrangements.
Fill in Recipient Details
Recipient: Enter the name or wallet address of the recipient.
Number of Unlocks: Specify how many times funds will be released to the
recipient.
Unlock Amount: Define the amount to be released with each unlock.
Unlock Frequency: Set how often the funds will be unlocked.
Prepaid Option: Indicate whether the payment is prepaid.
Recipient Options: You can send payments to either a single recipient or multiple recipients as needed.
Upload CSV File (Optional): For bulk processing, upload a CSV file formatted according to the predefined structure. The system will automatically populate the fields with the information extracted from the CSV, streamlining your input process.
Save Data: Once all fields are completed, review your entries for accuracy. Click the button to finalize the setup of your recurring payment.
New Invoices
Enter the client’s address in the designated field.
Choose the token that will be used for the payment.
Specify the category associated with your invoice.
Enter any relevant tags associated with your invoice.
For each invoice item, complete the following fields:
Description: Provide a brief description of the item.
Qty: Enter the quantity of the item.
Unit Price: Specify the price per unit.
Discount: Indicate any discount applicable.
Tax: Enter the tax amount, if applicable.
Click the button to finalize the invoice.
Address Book
Creating a New Address Group: Organize your contacts by creating a new address group. Provide a unique group name and a brief description outlining its purpose.
Adding a New Address: Save a new address by completing the wallet address, name, email, and selecting an appropriate group from the dropdown menu.
Project Milestones:
[ ] Launching the project on BTTC Chain Testnet.
[ ] Releasing the initial version of the user interface.
[ ] Integrating wallet connection for smooth transactions.
[ ] Implementing one-time and recurring payment functionalities.
[ ] Adding balance management and address book tools.
[] Adding invoice generation feature for crypto payments.
[] Developing multi-currency support
[] Integrating a statistics dashboard for transaction tracking
[] Developing reporting tools
[] Creating a user-friendly dashboard for easy navigation
[] Adding community and support features
[] Adding a dark theme
[] SEO Optimization
[] Adding arbitrator functionality for the invoice component
[] Mobile Application
I mistakenly shared the wrong link to the demo video, but I’ve updated it now. Please note that it’s still not the final version. I appreciate you bringing this to my attention! The website link is now published and should be working.
Welcome to the Hackathon of season 7, you’re project is a very very interesting one as I read it, I will like to know so please tell me will there going to be any transaction fees associated with using you’re platform, thank you
How does CryptoFlow ensure transparency and verifiability for freelancers and clients?
CryptoFlow uses blockchain to keep a permanent record of transactions. This means freelancers and clients can check their payment history anytime. It helps clear up any confusion and builds trust since both sides can see exactly what’s going on.
What security features do CryptoFlow’s smart contracts offer?
The smart contracts in CryptoFlow are like digital locks that keep your money safe until certain conditions are met. Because there are no middlemen involved, it really cuts down on the chances of fraud. So, you can feel secure knowing your funds are safe and will only go where you want them to.
How can users customize payment schedules, and how does this enhance their experience?
Users can easily set up both one-time and recurring payments with CryptoFlow. For one-time payments, they have the freedom to choose the exact date and time they want the payment sent, along with the amount and the recipient’s wallet address.
When it comes to recurring payments, they can pick a start date and decide how often the payments should occur—whether it’s daily, weekly, or monthly—and specify the amount to be sent each time.
This level of flexibility is super helpful. For instance, freelancers can set up regular payments from clients, or subscription services can automate monthly charges without any hassle. This way, users can manage their payments more efficiently, saving time and reducing the risk of missing important deadlines or forgetting to make payments.
How does CryptoFlow handle disputes despite transparency and security?**
When disputes arise, users can turn to the transparent records stored on the blockchain. Since every transaction is recorded and can be verified, it’s easy for both parties to check the details. Payments are only processed when all the agreed conditions are met through smart contracts, which adds an extra layer of assurance. This way, both freelancers and clients can have peace of mind knowing that everything is fair and transparent.
How does CryptoFlow educate users on managing invoices and payments?**
Right now, we don’t have detailed step-by-step guides in the CryptoFlow app. However, we’ve made a start by adding a video demo on the landing page to help users get a feel for how to navigate the platform. We plan to create more comprehensive guides in the future.
To make it clear, once you save a recipient’s details in the app, you can pick their name from a dropdown menu. When you do that, the wallet address linked to that name is automatically filled in the address field. This ensures that the payment process is clear and transparent, so you always know exactly which address the funds are being sent to. It’s especially handy if you have multiple recipients to manage.
I’ve also included this detail in the project description for better clarity.
Let me know if you need any more info!
Right now, since we’re in the testnet phase, you only have to cover the standard transaction fees on the BitTorrent Chain, and there are no additional charges from our smart contract.
Looking ahead, we might think about adding a fee if we believe it’s necessary to help maintain and develop the application. This will depend on various factors, and we’ll make sure to keep our users updated on any changes. If you have any more questions, just let me know!
Thank you for your reply to me, please tell me as you’re mentioning fees that are potentially supporting the ongoing development how are you planning to allocate the funds that will be raised from this fees, thank you
Appreciate your interest in the project! @Relate101
At CryptoFlow, we’re all about making things easy for our users. Our platform allows users to save recipient names for quicker access, streamlining the payment process. We recognize that many users manage multiple transactions, which is why we’ve added a batch payment feature. This allows you to send amounts to different addresses all at once. By uploading a CSV file, the app will auto-fill the form with the recipient details, making it easier for you to complete the payment process without having to enter everything manually.
On top of that, we’re big on education. Right now, we have a demo video to help users get started, but we’re planning to roll out more detailed tutorials and guides soon. Plus, we’re excited to announce that we’ll be launching our social media channels in the near future! This will be a great way for us to engage with our community, share updates, and provide valuable tips on how to make the most of CryptoFlow.
If you have any other questions or suggestions, just let me know!
The fees we plan to collect in the future will primarily support ongoing development and improvements for the platform. This includes enhancing features, ensuring security, and providing a smooth user experience. We’re also looking at ways to reward our most active users for their engagement and support as the app continues to grow.
I’m also glad to hear that you are planning to add more educational resources and social media channels. This will be a great way to learn more about crypto and connect with other users.
How secure is the batch payment feature?
And how will CryptoFlow generate revenue?
Quick update: I just added a small feature—now you can click on an invoice and see all the details instantly. Nothing major, but it makes things easier for both senders and recipients to check payment history. It’s one more step towards making the platform smoother and more user-friendly.
I’ll attach a quick gif below showing how it works.
The batch payment feature is built with security in mind. Each transaction is handled by our smart contracts, which means the funds are locked until all conditions are satisfied. This setup prevents unauthorized acces or any kind of fraud, while ensuring that all transactions are transparent and traceable, giving users peace of mind while using the platform.
this way only the right users can access the funds, and they’ll only get the amounts meant for them.
] Launching the project on BTTC Chain Testnet.
] Developing multi-currency support
