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Cardano Foundation Launches AdaPay

Cardano Foundation Launches AdaPay

  • AdaPay solution developed by the Cardano Foundation and COTI was launched on November 28th.
  • This platform enables merchants to accept payments in Ada.
  • This can be done with a near instant settlement into 35 fiat currencies directly into their bank accounts.

AdaPay solution developed by the Cardano Foundation and COTI was launched on November 28th. This platform enables merchants to accept payments in Ada. This can be done with a near instant settlement into 35 fiat currencies directly into their bank accounts. By joining COTIpay platform, Ada can be accepted by various businesses.

A demo COTI store has also been created to see how Ada payments work where one can purchase a personalised COTI image for $0.50c. To use Ada the Daedalus digital wallet must be downloaded. It is a secure, HD wallet for the Ada cryptocurrency.

COTI is the fundamental undertaking grade fintech organize that empowers relationship to produce their own one of a kind portion course of action and digitize any money to put aside time and money.

The advantages of COTI are primarily its scalability which means that COTI can process 100,000 TPS. Their user and merchant-facing tools are very simple and usable. They also provide a dispute resolution system to safeguard users against errors, fraud and counterparty abuse.

Intermediaries are cut out which eliminates the need for costly mining. Costs are also reduced and less energy is consumed. COTI’s technology makes transactions, P2P payments and remittances instant, instead of taking hours or days to clear.

Coming to security, distributed ledger technology eliminates a single point of failure for enhanced security. Cardano, on the other hand, is a decentralised public blockchain and cryptocurrency project and is fully open source.

Cardano is developing a splendid understanding stage which hopes to pass on additionally created features than any show as of late made. It is the first blockchain stage to progress out of a coherent perspective and an assessment at first decided philosophy.

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About Prerna Sengupta

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Prerna Sengupta is a writer for Thecoinrepublic. She is a law student at NALSAR University of Law, Hyderabad. She is interested in Tech Law and is especially keen on cryptocurrency, blockchain, and Bitcoin. She hopes to pursue this field in the future as a lawyer.

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