A cutting-edge technology company known as The Hashgraph Group, which is based in Switzerland, has recently unveiled TransAct. This innovative solution allows both businesses and government entities to utilize the Hedera network, a public distributed ledger, without the need to directly handle cryptocurrency. With TransAct, organizations can bypass the complexities of managing digital wallets and paying gas fees in HBAR.
TransAct is designed as a managed service with enterprise-level service agreements (SLAs). Transactions are conveniently billed on a monthly basis in traditional currencies like U.S. dollars, making it more accessible for entities that have restrictions on holding digital assets to seamlessly integrate Hedera into their operations.
The platform offers a secure interface and a user-friendly management dashboard for monitoring activities and costs. Additionally, developers have the opportunity to leverage open-source components through the Linux Foundation Decentralized Trust’s “Project Hiero,” while enterprise-specific functionalities remain proprietary.
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