Annex No.2
Transfer of funds
In blockchain technology, the transition of crypto assets from one wallet address to another address is considered a transaction, and there is always a commission associated with registering this transaction on the blockchain.
This fee can be considered a fee made to authenticate transactions and maintain the efficiency of the blockchain.
The fee for a multi-signature transaction is higher than a single signature.
The peculiarity of our solution is that the stage of creating a transaction is divided between the service partner and the blockchain. Whilst designated Signatories input their signatures in the interface of the Service Partner, BlackBox reviews it and after transmits the transaction to the blockchain network.
The following diagram shows the order of processes for the transfer of funds.
1 – Transfer request
2 – Application authentication and transaction execution
