Token Purchase Process
In the Sonica Investor Dashboard, the token purchase process is designed to be a simplified experience. When an investor selects a token opportunity, they are guided through a clearly defined purchase process. Starting with the selection of the quantity of tokens to be acquired, the interface presents an intuitive form where the investor can enter the investment amount and review the transaction summary, including estimated fees, expected returns, and relevant terms.
Background Operations:
Behind the user-friendly interface, a series of technical operations and blockchain transactions occur::
Authentication and Authorization: When initiating a transaction, the system verifies the user's credentials and ensures they have permission to make the purchase, as well as checks if the KYC is approved.
Blockchain Transaction: The platform initiates a transaction on the corresponding blockchain. This process involves generating a transaction that, when completed, will transfer ownership of the tokens from the smart contract to the investor's wallet.
Digital Signature: The user digitally signs the transaction using their private key through the integrated and custodial digital wallet, thereby confirming the purchase.
Validation and Mining: The signed transaction is transmitted to the blockchain network, where it is validated by nodes and then mined. This involves including the transaction in a block and adding this block to the existing chain after network consensus.
Purchase Confirmation: Once the transaction is confirmed on the blockchain, the system updates the purchase status and reflects the acquisition of tokens in the user's portfolio.
Balance Update: The user's balance is updated to show the new tokens, and any BRLA balance used for the purchase is deducted.
Logging and Reporting: All transactions are processed in a systematic queue to ensure efficiency and transparency. Each transaction is logged before being confirmed on the blockchain. After confirmation, the transaction hash is permanently stored in the platform's private database, ensuring data traceability and integrity. This detailed logging system allows for precise audits and facilitates compliance with financial and data security regulations.
Security and Transparency
Throughout the entire process, transaction security is maintained using advanced encryption and blockchain security protocols. Transparency is ensured with the immutability of blockchain transactions, allowing users to independently track and verify their purchases.
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