Veteran business executive Venkat Nallapati announced the launch of KryptoPal, a new blockchain technology company that seeks to remove the barriers to the mass adoption of cryptocurrency. To achieve its goal, KryptoPal is currently developing a first-of-its-kind blockchain software development kit and platform that will integrate with millions of applications and devices to perform various blockchain functions seamlessly.
To celebrate the launch of KryptoPal, the company is offering Ethereum users the chance to receive at least 200 free KryptoPal tokens by registering here. Tokens will be awarded by KrytpoPal until a limit of 25k valid registrants is reached. These tokens are used to access the network and cover fees on every transaction generated through the platform.
“Our big picture goal is to make millions of applications and devices seamlessly perform and track blockchain transactions while giving consumers the data security, privacy and ownership they seek,” said Venkat Nallapati, CEO, KryptoPal. “Cryptocurrency is not accepted widely by merchants or applications, mainly because transactions cannot be executed in real time or have other significant implementation overheads. The KryptoPal platform solves that problem.”
“What makes KryptoPal so unique is that our software can integrate with existing or legacy applications,” said Jaycen Horton, CTO, KryptoPal. “We serve as a bridge that allows enterprises to use their existing infrastructure to make use of blockchain technology.”
KryptoPal Software Platform
At the heart of KryptoPal is a software platform unlike any other in the industry. In spite of the widespread adoption of blockchain and various cryptocurrencies, there remain significant barriers for users of this technology. Numerous software implementations or integrations are required to use well-known cryptocurrencies and to track these various blockchain transactions. Also, even well-regarded cryptocurrencies generally are not accepted widely by merchants or compatible with a variety of systems and applications.
According to Statista, there are 6.5 million applications being used by over 4 billion people worldwide. Most of these applications lack the capability to connect with each other and provide a seamless experience for users. KryptoPal solves these problems with its software platform that consists of a software development kit, an extensible application programming interface (API), KryptoX Tokens, KryptoX Cards and KryptoX Rewards. These solutions can be integrated with any app, browser, device (Internet-of-Things or Point-of-Sale) or platform, to perform blockchain-related functions such as cryptocurrency transactions with ease.
“Software applications are used for daily banking, money transfers, commerce and bill payments,” said Steven G. Zylstra, president and CEO of Arizona Technology Council. “By providing a software development kit that can be integrated into these mainstream apps worldwide, KryptoPal has the potential to put the power of blockchain into the hands of millions of consumers.”