1/ How money moves onchain
Blockchains enable faster, cheaper, borderless payments, but for years the complex tech stack held back simple UX. That’s changing.
Today's blog unpacks how money moves onchain and the tools making crypto-enabled apps easier than ever to build 👇
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1/ How blockchains simplify transactions 🤝
Moving money onchain is strictly better alternative to the offchain status quo. It's cheaper, faster, 24/7 programmable, and more and more of the world is starting to realize.
Today's blog post from @privy breaks down how crypto payment rails work 👇
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2 recasts
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Top casts
1/ How blockchains simplify transactions 🤝
Moving money onchain is strictly better alternative to the offchain status quo. It's cheaper, faster, 24/7 programmable, and more and more of the world is starting to realize.
Today's blog post from @privy breaks down how crypto payment rails work 👇
4 replies
2 recasts
4 reactions
1/ How money moves onchain
Blockchains enable faster, cheaper, borderless payments, but for years the complex tech stack held back simple UX. That’s changing.
Today's blog unpacks how money moves onchain and the tools making crypto-enabled apps easier than ever to build 👇
1 reply
1 recast
2 reactions
2/ Making a card payment today is far more complex than most people realize.
It's a 7+ step process coordinating multiple banks over several days on a stack that's been around since the 1960s.
Given all the complexity, merchants only see ~97% of the transaction value.
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3/ The onchain alternative works closer to how you'd expect money to move
Consumers transfer funds directly to merchants' wallet as a simple peer-to-peer payment, confirmed on a public protocol.
Execution-focused blockchains can often execute transactions for <$0.01