The road to mass adoption of web 3.0 is all about aligning interests. Payments will be the killer app.

What if we shift the paradigm?

What if there was a way to do it in which everybody wins? Payments with zero fees, the merchant passes those savings to the consumer and all the transactions are handled fast and transparently on the blockchain while the payments processor becomes transparent? At first it seems that in this case the payment processor looses by not collecting fees but that isn’t actually the case. In the long term, everybody wins through the volume brought about by the mass adoption of Web 3.0 payments. Technology has finally enabled free payments and we believe onboarding millions of people will be the most valuable service. The

Free payments? I thought everyone in crypto was complaining about huge gas fees.

Not everyone in crypto and using blockchains is complaining about gas fees. The biggest disruptor in blockchain and crypto adoption last year was the Solana blockchain and there are two main reasons: it’s fast (400ms block times and achieving transaction finality within seconds) and it’s practically free (transactions end up costing fractions of a cent). It’s true that free payments could not be implemented on Ethereum or other blockchains because of gas fees. On the other hand Solana was optimised for fast, secure, transactions that take seconds to confirm and finalise.

How does it work and what is solpay.store?

The missing part of the payments puzzle was the Solana Pay launch announcement on the first of February. The Solana foundation build and launched Solana Pay, a specification for a protocol that allows the consumer to send digital dollar currencies, such as USDC, from their wallet directly into the merchant’s account, settling immediately with costs measured in fractions of a penny.

solpay.store is a merchant payments solution focusing fast zero fees payments finalised on the Solana blockchain.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
solpay.store

solpay.store

Solana Pay for your online store. Help customers pay instantly with a QR code or your Web 3.0 wallet, no fees. Wordpress integration ready, soon more platforms