TronCheques - Sending Money Without a Need of a Recipient's Wallet Address

TRON Hackathon Hackathon Season 6
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Welcome to the hackathon. Indeed, your idea of enabling people to receive money without the need for a wallet address and providing the flexibility to withdraw funds into any Tron wallet is a significant step towards simplifying cryptocurrency transactions. This step could potentially open up the world of digital currencies to a broader audience by reducing the technical barriers to entry. One question I will like to ask is this.

What makes you think that people will like to send or receive money without a wallet address?

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Hey @mothupi, interesting project concept!

Similar to @Chukseucharia’s question - have you come across situations often where there is a need to send crypto to someone who doesn’t have a cryptocurrency wallet?

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hey @Relate101 , basically when depositing the money, it goes in to the contract, and a Withdrawal ID and Password and generated and encrypted of course, which will be used to trigger to contract to send the amount to the withdrawer’s wallet. And there is a plan to allow users to off-ramp and withdraw into their bank account when we deploy to mainnet

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Hey @Chukseucharia and @MrMinterTRON , I’ll give one example where it’s more attractive to have the ability to send money without a need of a wallet address. Let’s say you want to send a gift card of trx to someone who doesn’t have a wallet, it’s best to send it using my app, since they’ll only need the withdrawal details to redeem the card at any merchandize that takes trx.

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Welcome to HackaTRON season 6, I like to know what additional security measures will TronCheques implement to ensure the safety of funds during transactions without needing the recipient’s wallet address?

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Project Goal : To allow the people to make payments with the need of the receiver’s wallet address.

are u sure?

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ok but i think using this project requires much extra work !

Generally we do like.

1.Receivers shares wallet address
2.Senders transfer trx to that wallet and boom!!!

But by using your app here we doing!

1.Senders deposit trx to your contract.
2.Senders share password and withdrawal id to receiver (And if lost the funds could be freezed )
3.Receiver then inputs that withdrawl id and password.
4.Then receiver sets a wallet address where he want to receive that money.

SO in the end receiver is getting trx in his wallet address in which he wants to receive so my question is that Why would he choose troncheque which is only providing difficulty , extra work and insecurity not any simplicity?

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Welcome to Grand hackathon season 6
Please I have some important questions

  • How are private keys stored on the platform, Are they ever stored in plain text.

  • How is the smart contract audited for vulnerabilities.

  • What happens if a user loses their Withdrawal ID and Password? Is there a recovery process.

  • How clear and intuitive is the deposit process, especially for users unfamiliar with crypto wallets and private keys.

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I think that is a mistake and it has been pointed out by community members some time ago. I don’t know why it’s taking him this long to correct this mistake

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This is similar to my question and after his response TronCheques - Sending Money Without a Need of a Recipient's Wallet Address - #24 by mothupi I was thinking his platform is best suitable for crypto vendors. Like if the receiver is not a holder, such person can take the withdrawal details to a vendor that trade cryptocurrencies in their location. The vendor will then redeem the payment and the pay the user in fiat

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Thanks for the clarification. All the best

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Sorry, i meant “without” the need of a wallet address of the recipient’s wallet address

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1 - The system does not store user’s private key, onlyvthe contract owner is stored and encrypted in an env file used by the api
3 - if you lose your withdrawal details, you can always connect your wallet to the platform and then you’ll be able to see your transactional history, and you can view the details there
4 - The deposit process requires a basic knowledge of crypto. All you need to know is to connect your wallet or use your private key to sign the transaction

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  • We’ll have a limited number of attempts to withdraw.
  • Our api with its the that does the withdrawal, can onlybbe accessed through the web app.
  • We’ll also implement anti-spam
  • And the withdrawal details are encrypted