Shopify to accept USDC payments with Solana: Report

E-commerce huge Shopify has actually included Solana Pay to its swimming pool of alternatives for payment, permitting millions of merchants to utilize the platform to accept crypto transactions, beginning with USD Coin (USDC) stablecoin payments. According to TechCrunch, Solana prepares to include other altcoins to the platform in the coming months, including its native token Solana (SOL) and the meme token Bonk Coin (BONK). Josh Fried from Solana Labs branded the crossway of digital properties and payment services as the “killer app for crypto,” adding that” [Everyone] must be doubling down on this.” According to Fried, Solana Pay can drastically lower deal costs compared to credit card processing costs. The network typical charge is $0.00025 per deal, while credit card processing expenses vary from 1.5% to 3.5%. In the last epoch, Solanas users paid a typical transaction fee of 0.000009664 SOL.Solanas average fee paid by users. Source: SolanaShopify approximates that 10% of all e-commerce transactions in the United States are made through their platform, or $444 billion of the worlds e-commerce market. The company has slowly integrated Web3 options into its operations, consisting of a suite of blockchain commerce tools for Web3-focused shops and crypto wallet connect functions. Shopifys volume will work as a proving ground for the Solana blockchain. In previous years, Solana battled with dependability and uptime issues. Its co-founder Anatoly Yakovenko dubbed the problems as a “curse” credited to the networks low-priced transactions.Recent data, nevertheless, suggest that the network performance is improving. According to its newest efficiency report, Solana has experienced 100% uptime given that Feb. 25, marking an entire quarter without an outage. The single February outage saw the network knocked offline for almost 19 hours.Launched in February 2022, Solana Pay is a peer-to-peer payment infrastructure that gives merchants the ability to settle and accept payment transactions across digital possessions. The platform is a collaboration in between Solana Labs, Checkout.com, Circle and Citcon, together with wallet integrations from Phantom. Magazine: Deposit threat: What do crypto exchanges truly do with your money?

According to TechCrunch, Solana plans to include other altcoins to the platform in the coming months, including its native token Solana (SOL) and the meme token Bonk Coin (BONK). According to Fried, Solana Pay can dramatically lower deal expenses compared to credit card processing charges. In the last date, Solanas users paid an average transaction fee of 0.000009664 SOL.Solanas average fee paid by users.