How it works

Woople's Technical Ecosystem: Seamless Transactions and Beyond

User Authentication and Wallet Creation

When users log in through their email, a two-factor authentication (2FA) is initiated. To enhance user convenience, we recommend using a phone number for 2FA. Upon successful login, Woople creates a non-custodial wallet for the user. The private keys associated with this wallet can be exported through the right top menu for enhanced user control.

Gas-Less Transactions with Biconomy SDK

Woople employs the Biconomy SDK to initialize a smart account for users, enabling gas-less transactions. The user signs an email as a message using their Externally Owned Account (EOA), and this signed message is sent to our backend. The backend recognizes the email, EOA wallet, and calculates a Smart wallet for future use.

OTP Confirmation and Off-Chain Payments

For the first payment initiation, users are prompted for OTP confirmation sent to their email. This confirmation verifies the user's email and utilizes the signed message to create the payment. In the case of non-registered recipients, an off-chain payment is generated, notifying the recipient. Upon the recipient's signup, they undergo OTP verification to accept the payment, which is then pushed from off-chain to on-chain.

Escrow and Conditions

If the payment involves no escrow, funds are directly transferred to the receiver's wallet. For conditional transactions, the receiver may need to upload proof of fulfilling the conditions. The sender then verifies the proof and releases the funds accordingly. All conditions are stored on IPFS public files, while deliveries are secured using Lighthouse encrypted IPFS files. Initially, only the sender and receiver have access, but in the case of a dispute, Marshals can decrypt the files for resolution.

SBT Minting and Future Innovations

We mint Stable Blockchain Tokens (SBT) to users to track payments. Future plans involve converting SBT into digital payslips, offering versatile applications beyond traditional tracking. The potential uses of this feature are expansive, promising innovative solutions for users.

Collaboration with On-Ramp/Off-Ramp Partners

Woople actively collaborates with on-ramp/off-ramp partners, streamlining the movement of funds to and from users' bank accounts. Our ongoing partnerships aim to enhance the user experience, making fund transfers more accessible each day.