253 days ago • cryptodaily
Shopify Integrates Solana Pay
Leading e-commerce platform Shopify will now allow users to make USDC payments thanks to its recent integration of the Solana Pay app.
Seamless Integration with Shopify
Shopify, a cornerstone of global e-commerce facilitating transactions worth a staggering $444 billion worldwide, has opened its doors to Solana Pay. This collaboration enables millions of businesses operating on the Shopify platform to offer their customers Solana Pay as a secure payment option. Notably, Solana Pay's initial integration will leverage USDC, the second-largest stablecoin boasting a substantial market capitalization of $25.9 billion, according to CoinGecko.
The Power of Crypto Payments
Josh Fried, overseeing business development and partnerships at Solana Foundation, underscored the significance of crypto payments, saying,
"Some people argue the killer app for crypto hasn't arrived, but it has: it's payments…[Everyone] should be doubling down on this."
Solana Pay, launched in February 2022 and built on the foundation of the layer-1 blockchain Solana, focuses on facilitating transactions involving dollar-pegged stablecoins. This application seamlessly serves both online and point-of-sale transactions and can handle any volume of digital dollar transfers on the Solana blockchain.
Noteworthy entities such as USDC issuer Circle, Phantom Solana wallet, and payment processor Checkout.com have already embraced Solana Pay, contributing to the thriving Solana ecosystem encompassing over 11.5 million active accounts.
A “Fee-Free” Alternative
Compared to the standard credit card processing fees that can soar up to 3.5% per transaction, Solana Pay presents an appealing alternative.
As Fried emphasizes,
"Solana Pay is effectively 'fee-free.'"
Transactions conducted on this platform incur minimal costs, with a transaction fee of approximately 0.000005 SOL at the time of writing, translating to mere fractions of a penny.
Despite facing network outages in the past, Solana has evolved into a faster and more cost-efficient layer-1 blockchain compared to giants like Bitcoin and Ethereum. Significantly, the network has remained operational without a single instance of downtime since February.
Where Does The Road Lead?
Solana Pay's partnership with Shopify is not the platform's first crypto-related endeavor. Shopify had previously integrated Bitcoin lightning network payments via Strike and embraced platforms like Coinbase Commerce and Bitpay.
While the initial integration features USDC, Solana Pay is exploring the inclusion of additional cryptocurrencies like the native SOL token and BONK, a meme coin, in the future.
Furthermore, this integration empowers merchants to design creative loyalty programs, potentially incorporating systems like NFT loyalty tokens. This means customers using Solana Pay for repeat purchases could be rewarded with discounts and other incentives.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
253 days ago • cryptodaily
Shopify Integrates Solana Pay
Leading e-commerce platform Shopify will now allow users to make USDC payments thanks to its recent integration of the Solana Pay app.
Seamless Integration with Shopify
Shopify, a cornerstone of global e-commerce facilitating transactions worth a staggering $444 billion worldwide, has opened its doors to Solana Pay. This collaboration enables millions of businesses operating on the Shopify platform to offer their customers Solana Pay as a secure payment option. Notably, Solana Pay's initial integration will leverage USDC, the second-largest stablecoin boasting a substantial market capitalization of $25.9 billion, according to CoinGecko.
The Power of Crypto Payments
Josh Fried, overseeing business development and partnerships at Solana Foundation, underscored the significance of crypto payments, saying,
"Some people argue the killer app for crypto hasn't arrived, but it has: it's payments…[Everyone] should be doubling down on this."
Solana Pay, launched in February 2022 and built on the foundation of the layer-1 blockchain Solana, focuses on facilitating transactions involving dollar-pegged stablecoins. This application seamlessly serves both online and point-of-sale transactions and can handle any volume of digital dollar transfers on the Solana blockchain.
Noteworthy entities such as USDC issuer Circle, Phantom Solana wallet, and payment processor Checkout.com have already embraced Solana Pay, contributing to the thriving Solana ecosystem encompassing over 11.5 million active accounts.
A “Fee-Free” Alternative
Compared to the standard credit card processing fees that can soar up to 3.5% per transaction, Solana Pay presents an appealing alternative.
As Fried emphasizes,
"Solana Pay is effectively 'fee-free.'"
Transactions conducted on this platform incur minimal costs, with a transaction fee of approximately 0.000005 SOL at the time of writing, translating to mere fractions of a penny.
Despite facing network outages in the past, Solana has evolved into a faster and more cost-efficient layer-1 blockchain compared to giants like Bitcoin and Ethereum. Significantly, the network has remained operational without a single instance of downtime since February.
Where Does The Road Lead?
Solana Pay's partnership with Shopify is not the platform's first crypto-related endeavor. Shopify had previously integrated Bitcoin lightning network payments via Strike and embraced platforms like Coinbase Commerce and Bitpay.
While the initial integration features USDC, Solana Pay is exploring the inclusion of additional cryptocurrencies like the native SOL token and BONK, a meme coin, in the future.
Furthermore, this integration empowers merchants to design creative loyalty programs, potentially incorporating systems like NFT loyalty tokens. This means customers using Solana Pay for repeat purchases could be rewarded with discounts and other incentives.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
262 days ago • cryptodaily
Linera Blockchain Raises Additional $6M for Innovative Microchain Design Evolving from Meta’s Novi Research
San Francisco, USA, August 16th, 2023, ChainwireLinera reaches a total of $12M in seed funding. The new round of funding was led by Borderless Capital with contributions from a16z crypto, Laser Digital Ventures, Matrixport, Flow Traders, GSR Markets, and moreLinera, the first blockchain network scalable via microchains, has successfully closed an additional $6M round, led by Borderless Capital. Founded by Mathieu Baudet, former Meta researcher on the Novi digital payments wallet and a cryptographic protocols specialist, Linera's pioneering technology aims to bring web2 scalability to web3 applications by introducing an unlimited number of user chains powered by an elastically scalable network.Linera has now secured a total of $12M in seed funding, with the most recent $6 million follow-on investment round led by Borderless Capital. Notable participants include Laser Digital Ventures, DFG, Cadenza, Block1, Eterna Capital, MH Ventures, Matrixport, L2IV, ArkStream, Flow Traders, GSR Markets, and Open Web Collective (OWC), alongside continued support from a16z crypto, Tribe Capital, and Cygni Capital, who participated in the initial seed round.“Among new web3 architectures emerging like the move away from a single monolithic blockchain, Linera’s microchains are a completely new and necessary evolution. Further, Linera’s capacity for linear scaling is designed to support millions and conceivably billions of simultaneous transactions. And, while unprecedented, this kind of performance and reliability is essential for web3 to actually scale applications like payments, messaging, trading, AI, and more to billions of users around the world," said Alpen Sheth, Senior Partner at Borderless Capital. "Linera has made significant progress since we led their initial seed round last year, and we're excited to expand our support for the project. Mathieu and the Linera team have designed a truly innovative multi-chain architecture that unlocks a broader design space for developers and their end users. We can't wait to see how the ecosystem takes shape and the utilities it enables as Linera advances into the devnet and testnet phases," said Ali Yahya, General Partner at a16z crypto.Linera recently made its initial software development kit (SDK) available for testing, targeting Rust developers. Thanks to the new funding, Linera will be expanding the team, launching a devnet and a testnet for the protocol and fostering a strategic presence in the APAC region while continuing to grow their developer academy.From microchains to mass-scalable applicationsThe competition for blockspace in traditional Layer 1 blockchains, coupled with limited production rates and block sizes, creates a bottleneck during traffic peaks, leaving users outpriced or delayed, rendering the infrastructure effectively unavailable.“We’ve taken a step back to completely redesign a blockchain infrastructure that scales from the start,” said Mathieu Baudet, founder and CEO of Linera. “Linera’s unique multi-chain architecture ensures predictable performance, responsiveness, and robust security at Internet scale."Linera empowers developers to create high-speed web3 applications used by a large number of active users in parallel, revolutionizing decentralized infrastructure for a variety of use cases, including retail payments, gaming micro-payments, messaging, proprietary trading, and blockchain bridges.The Linera system scales by adding chains, not by increasing the size or the production rate of blocks. Its groundbreaking microchain model grants each individual user their own lightweight chains, which integrate into browser extensions or mobile devices for streamlined web3 app interactions within their wallets. During times of high demand, Linera's validators expand dynamically like elastic web services.Linera's innovative design is rooted in the expertise that Mathieu Baudet acquired at Meta while contributing to the Libra (now Diem) blockchain and co-authoring the academic paper "FastPay", which laid the foundations for the Linera protocol. Bernadette Cay, Linera's COO, brings extensive experience in launching products from Google and MoPub, the mobile ad exchange acquired by Twitter.About LineraLinera is the first low-latency blockchain designed to scale elastically like web2 applications. Founded by Mathieu Baudet, a former Meta Novi engineer and researcher, with a PhD in cryptographic protocols, Linera revolutionizes blockchain scalability by introducing microchains, removing mempools, and minimizing validator interactions. Linera optimizes performance for web3 applications used by a large number of active users in parallel, enabling unprecedented horizontal scalability for use cases such as retail payments, gaming micro-payments, messaging, proprietary trading, and blockchain bridges.Join us in creating the next generation of high-performance decentralized applications. Learn more at linera.ioAbout BorderlessBorderless is a leading investment management firm focused on Web3 technology, dedicated to supporting the next generation of innovators who are driving the development of groundbreaking technologies that will enable the creation of value without borders. Borderless comprises a team of builders, partners, and investors who adopt a long-term perspective and strive to unleash the full potential of open, community-driven networks. Since 2018, Borderless has made 200+ investments across infrastructure, business applications, and nascent cryptographic protocols, and has played an integral role in the development of some of the most significant and innovative Web3 communities.For more information, please visit their website at borderlesscapital.ioContactPR DirectorKarla VilhelemMarket [email protected]
262 days ago • cryptodaily
Linera Blockchain Raises Additional $6M for Innovative Microchain Design Evolving from Meta’s Novi Research
San Francisco, USA, August 16th, 2023, ChainwireLinera reaches a total of $12M in seed funding. The new round of funding was led by Borderless Capital with contributions from a16z crypto, Laser Digital Ventures, Matrixport, Flow Traders, GSR Markets, and moreLinera, the first blockchain network scalable via microchains, has successfully closed an additional $6M round, led by Borderless Capital. Founded by Mathieu Baudet, former Meta researcher on the Novi digital payments wallet and a cryptographic protocols specialist, Linera's pioneering technology aims to bring web2 scalability to web3 applications by introducing an unlimited number of user chains powered by an elastically scalable network.Linera has now secured a total of $12M in seed funding, with the most recent $6 million follow-on investment round led by Borderless Capital. Notable participants include Laser Digital Ventures, DFG, Cadenza, Block1, Eterna Capital, MH Ventures, Matrixport, L2IV, ArkStream, Flow Traders, GSR Markets, and Open Web Collective (OWC), alongside continued support from a16z crypto, Tribe Capital, and Cygni Capital, who participated in the initial seed round.“Among new web3 architectures emerging like the move away from a single monolithic blockchain, Linera’s microchains are a completely new and necessary evolution. Further, Linera’s capacity for linear scaling is designed to support millions and conceivably billions of simultaneous transactions. And, while unprecedented, this kind of performance and reliability is essential for web3 to actually scale applications like payments, messaging, trading, AI, and more to billions of users around the world," said Alpen Sheth, Senior Partner at Borderless Capital. "Linera has made significant progress since we led their initial seed round last year, and we're excited to expand our support for the project. Mathieu and the Linera team have designed a truly innovative multi-chain architecture that unlocks a broader design space for developers and their end users. We can't wait to see how the ecosystem takes shape and the utilities it enables as Linera advances into the devnet and testnet phases," said Ali Yahya, General Partner at a16z crypto.Linera recently made its initial software development kit (SDK) available for testing, targeting Rust developers. Thanks to the new funding, Linera will be expanding the team, launching a devnet and a testnet for the protocol and fostering a strategic presence in the APAC region while continuing to grow their developer academy.From microchains to mass-scalable applicationsThe competition for blockspace in traditional Layer 1 blockchains, coupled with limited production rates and block sizes, creates a bottleneck during traffic peaks, leaving users outpriced or delayed, rendering the infrastructure effectively unavailable.“We’ve taken a step back to completely redesign a blockchain infrastructure that scales from the start,” said Mathieu Baudet, founder and CEO of Linera. “Linera’s unique multi-chain architecture ensures predictable performance, responsiveness, and robust security at Internet scale."Linera empowers developers to create high-speed web3 applications used by a large number of active users in parallel, revolutionizing decentralized infrastructure for a variety of use cases, including retail payments, gaming micro-payments, messaging, proprietary trading, and blockchain bridges.The Linera system scales by adding chains, not by increasing the size or the production rate of blocks. Its groundbreaking microchain model grants each individual user their own lightweight chains, which integrate into browser extensions or mobile devices for streamlined web3 app interactions within their wallets. During times of high demand, Linera's validators expand dynamically like elastic web services.Linera's innovative design is rooted in the expertise that Mathieu Baudet acquired at Meta while contributing to the Libra (now Diem) blockchain and co-authoring the academic paper "FastPay", which laid the foundations for the Linera protocol. Bernadette Cay, Linera's COO, brings extensive experience in launching products from Google and MoPub, the mobile ad exchange acquired by Twitter.About LineraLinera is the first low-latency blockchain designed to scale elastically like web2 applications. Founded by Mathieu Baudet, a former Meta Novi engineer and researcher, with a PhD in cryptographic protocols, Linera revolutionizes blockchain scalability by introducing microchains, removing mempools, and minimizing validator interactions. Linera optimizes performance for web3 applications used by a large number of active users in parallel, enabling unprecedented horizontal scalability for use cases such as retail payments, gaming micro-payments, messaging, proprietary trading, and blockchain bridges.Join us in creating the next generation of high-performance decentralized applications. Learn more at linera.ioAbout BorderlessBorderless is a leading investment management firm focused on Web3 technology, dedicated to supporting the next generation of innovators who are driving the development of groundbreaking technologies that will enable the creation of value without borders. Borderless comprises a team of builders, partners, and investors who adopt a long-term perspective and strive to unleash the full potential of open, community-driven networks. Since 2018, Borderless has made 200+ investments across infrastructure, business applications, and nascent cryptographic protocols, and has played an integral role in the development of some of the most significant and innovative Web3 communities.For more information, please visit their website at borderlesscapital.ioContactPR DirectorKarla VilhelemMarket [email protected]
390 days ago • cryptodaily
Coinbase Reportedly Eyeing Lightning Network Integration
Coinbase CEO Brian Armstrong recently made statements about the Bitcoin Lightning Network, a five-year-old layer 2 scaling solution for the alpha cryptocurrency.
Detractors were quick to point out, however, that at Coinbase' current scale, it should have worked on the integrations years before. According to a tweet by Armstrong, the Lightning Network is great, and is "something we'll integrate".
My tweets auto-delete after some number of months, so there is no search history.Lightning is great and something we’ll integrate.
— Brian Armstrong (@brian_armstrong) April 8, 2023
The tweet, as shown above, was a response to a comment on how Armstrong and Coinbase seem to be "actively ignoring" Bitcoin's Lightning Network. As a scaling solution, the Lightning Network has grown steadily since its inception sometime in 2018, with the protocol celebrating its fifth anniversary last month.
According to blockchain data, the amount of $BTC locked in Lightning has reached an all-time high of 5,490 BTC in February but has since dropped to 5,420 BTC. This thus represents a substantial increase compared to the 3,350 BTC locked at the beginning of last year.
Transaction volume on the Lightning Network has also experienced an uptick. BitPay reports an 18% increase in transaction volume in 2022 compared to 2021, with the growth in the fourth quarter of 2022 being 32% higher than in the same period in 2021. Notably, the network does not have a native token like most protocols, suggesting that its growth is purely organic.
A February 2023 report by Valkyrie Investment highlights the adoption of the Lightning Network since its inception, emphasizing its significance within the crypto industry. The network aims to improve Bitcoin's transaction speed and reduce associated fees by creating a separate layer for off-chain transactions, enabling multiple transactions without broadcasting them on the main blockchain. This reduces network congestion and addresses Bitcoin's scalability limitations.
Most major crypto exchanges, including Bitfinex, Kraken, and OKX, have already integrated the Lightning Network. If Armstrong's statement materializes, Coinbase may soon follow suit. Perhapsone of the reasons for the stall is Coinbase's own, recently active engagement in Ethereum L2s, with the launch of has actively engaged in the Ethereum ecosystem, launching "Base" on February 23—an Ethereum layer 2 application-focused network powered by fellow layer 2 solution Optimism. An integration of the Lightning Network would further demonstrate Coinbase's commitment to scaling solutions for the crypto ecosystem.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
394 days ago • cryptodaily
Ralph Lauren Rolls Out Crypto Payments and NFT Gifts
American fashion brand Ralph Lauren is making its foray into the crypto world. The company announced opening a store in Miami’s Design District which will accept crypto payments.
Ralph Lauren on Tuesday announced the opening of a new luxury-focused concept store in Miami’s Design District which will accept various cryptocurrencies as payment. Vogue Business reports customers can pay for merchandise using various cryptos, including Bitcoin, Ether, Polygon, Dogecoin and others, through a partnership with crypto payments service provider BitPay.
Introducing our new #RLMiami store, the first Ralph Lauren store to accept cryptocurrency as a form of payment.In partnership with @BitPay, customers can make purchases with different cryptocurrencies including #Bitcoin, #Ethereum and #MATIC by @0xPolygonLabs and more. pic.twitter.com/YUHhsDRexB
— Ralph Lauren (@RalphLauren) April 4, 2023
Ralph Lauren’s store will offer products from the label’s Men’s Purple and Women’s Collection and one-of-a-kind handbags and accessories exclusive to its Miami location.
The store will consider crypto’s volatile nature and provide any refunds in the same cryptocurrency used for the original payment but will adjust the amount to match the total dollar amount of the item.
Ralph Lauren will also release a co-branded NFT (non-fungible token) in collaboration with the Web3 community Poolsuite. The NFT will be “gifted” to 3,000 existing Poolsuite community members and grant holders access to an exclusive in-person event.
Palm trees and eternal sunshine. Welcome to #RLxPoolsuite. For the first time, @RalphLauren celebrates Miami’s vibrant energy in collaboration with @Poolsuite #RLMiami pic.twitter.com/FdhZc1bzwe
— Ralph Lauren (@RalphLauren) April 4, 2023
Decrypt reports a person familiar with the matter said the event would be one part of a three-day immersive experience at a private waterfront estate in Miami to take place late in April. Over the three-day event, a number of Web3 activations will be hosted for influencers, customers and Poolsuite x Ralph Lauren NFT members to mark the Miami store’s opening. More details regarding the event will soon be released.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.