The Thor Token team has made announcements regarding the end date for its token sale and payment solution.
The token sale is due to end 8:00PM, April 6 (UTC+0).
The token sale smart contract was initially deployed when NEO block times were 25 seconds. Now that NEO has upgraded its nodes, the block time is now roughly 20 seconds, which has put the end date ahead of schedule.
The estimate close date is estimated below for major cities.
- 1:00 PM, April 6 in San Francisco (PST)
- 4:00 PM, April 6 in New York City (ET)
- 9:00 PM, April 6 in London (BST)
- 10:00 PM, April 6 in Berlin (CEST)
- 4:00 AM, April 7 in Shanghai (CST)
- 6:00 AM, April 7 in Sydney (AEST)
Outlining Thor’s Payment Solution
As part of the announcements made by Thor, they have also unveiled its payment solution for independent contractors and on-demand companies that employ them.
The payment solution used by Thor will leverage the NEO blockchain, creating an end to end payment processing solution to make services cheaper, faster, and more secure. This is achieved by reducing the dependence on third party verification providers that dominate the industry.
Once released, the Thor Payment Solution will have the following features:
- Credit and Debit card processing API
- Thor Tokens payment processing API
- Employer wallet
- Contractor wallet
- Internal assets balancing algorithm
At present, on-demand processing companies rely on payment facilitator gateways to handle customer credit and debit card transactions, as well as an Automated Clearing House (ACH) to process payments for contractors. This process costs 2.9% and $0.30 for each transaction, as well as 0.80% for each payment to contractors.
Thor’s payment solution will help to lower the fees for transactions for companies and for contractors, and make them quicker and safer to process. It will also provide access for processed revenue.
For more information on Thor Token you can visit their website – www.thortoken.com