Visa said that StarkNet, a layer 2 blockchain built on top of Ethereum, may help bridge the gap between crypto and the real world by letting people who use self-custodial wallets pay their bills more easily.
“We see auto payments as a core functionality that existing blockchain infrastructure lacks,” the authors of a Visa crypto proposal wrote.
While automatic recurring payments are common on traditional mobile banking apps, it's a harder task on the blockchain, according to a crypto thought leadershipfrom Visa. The team utilized a novel concept called account abstraction to explore how smart contracts can be implemented to enable automated and programmable payments.
“We see auto payments as a core functionality that existing blockchain infrastructure lacks,” the authors of the proposal
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Visa Proposal Would Bring Ethereum Users One Step Closer To Being Their Own BankDirect-from-wallet Ethereum scheduled transactions would take some financial intermediaries out of the crypto-payment equation.
Read more »
Ethereum bulls wake up after four years to transfer 22,982 ETHThe last movement of the ETH tokens in question dates back to October 2018, when the price of ETH ranged roughly between $190 to $230.
Read more »
573.4 Billion SHIB Bought by Whales in Past 48 Hours as Price Shows Modest RiseOver $5 million in $SHIB have been added by largest holders over the weekend. WhaleStats ShibaInu
Read more »
Two Ancient Ethereum Whales Wake Up, Here's What Happened NextAncient whales that have not been active for years are suddenly moving millions worth of $ETH
Read more »
Fluidity Spend-to-Earn DeFi Goes Live on EthereumFluidity, new-gen blockchain incentive layer designed for community campaigns, shares details of its mainnet launch
Read more »