Skip to content

The new Metal Pay blockchain enables the integration of payment platforms and banks

May 13, 2020

Proton, a new delegated blockchain with the proof-of-staking protocol of the cryptocurrency payment solution Metal Pay, It enables the transfer of digital assets and funds across multiple channels.

“It’s a blockchain built into your bank,” Marshall Payner, CEO of Metal Pay, told Cointelegraph. “It is a universal network for payments.” As long as the payment platforms integrate the Proton blockchain, according to Hayner, customers can send payments via non-native platforms.

Proton enables cross-platform compatibility

Aside from Metal Pay, payment platforms are nowadays often run as isolated entities and have difficulty when users want to interact between services. For example, if someone wants to send money to a friend using PayPal, both parties must have PayPal accounts and work within the walls of this platform.

The new Metal Pay blockchain enables the integration of payment platforms and banksThe new Metal Pay blockchain enables the integration of payment platforms and banks

“The craziest thing is that it doesn’t need a platform,” Hayner said about Metal Pay and its proton blockchain. Hayner further explained:

“Proton is a highly scalable blockchain platform for intelligent recruiting, but what is really different and unique is this concept of fiduciary funding sources and linked identities.”

Metal Pay promotes names instead of characters for wallet addresses

Platform users who integrate with the Proton blockchain can Create a wallet that shows a verified name instead of cryptocurrency wallet addresses that promotes long strings of numbers and lettersexplained Bitcoin millionaire Erik Finman, who worked with Metal Pay.

Finman said Bitcoin (BTC) implies “a really complicated address that no one can remember, and that’s great for what it does,” although Metal Pay offers the simplicity of a username.

Metal Pay enables a number of payment methods in one place. instead of the incompatible and independent experience of other payment solutions. “In this way, you can link multiple funding sources from the blockchain itself,” Finman said of the Proton blockchain, the glue that connects all payment systems separately.

Finman compared the experience to a decentralized Facebook login and added:

“Instead of linking your social media profile information centrally, these types of links link their funding sources decentrally, making it a very simple backend.”

Proton also has its own Proton Asset (XPR), which customers can use to pay for the creation of wallet addresses, among other things. Metal Pay also plans to launch “packaged” assets in the Proton blockchain, e.g. B. “Wrapped Bitcoin” and “Wrapped Ethereum”, where cryptocurrency transactions are directly combined.

Wrapped coins have increased in the past two years, making Bitcoin compatible with other platforms and apps. Wraped Wrap (WBTC) was launched on Ethereum in 2019, allowing users to trade BTC on decentralized exchanges.

Receive Breaking News !

Install
×
Enable Notifications    Ok No thanks