ADA Pay — Development Update
As we are getting closer to launching ADA Pay for Shelley Mainnet, we’d like to share with you our progress, including screenshots and videos.
We have been working with the Cardano Foundation on the first version of ADA Pay back in October 2019.
About 4 months ago, we set out to develop ADA Pay for Shelley Mainnet. The Shelley version of $ADA brings a world of new possibilities, including:
- An incentive system — providing appropriate rewards for operating full nodes, incentives to delegate stake, a means of setting transaction fees, and more.
- Stake pools — which motivate delegation to a large number of stake pools, ensuring the ongoing decentralization of the network.
- Ouroboros-BFT (OBFT) implementation — a necessary technical step in preparing for full decentralization with Shelley.
- A wallet backend redesign
- Faster wallet restoration
- Improved wallet backup and recovery
- A feature that will make it possible to have shorter wallet addresses which enable an easier communications
- And more
With native assets on top of Shelley Mainnet and the growth of popularity of Cardano and $ADA, there’s a huge opportunity in developing ADA Pay for ShelleyMainnet. In fact, there are already merchants wanting to adopt the solution, including a famous merchant that will be the first to use the ADA Pay new system.
The ADA Pay systems comes with a full suite of a Payment gateway, Donations gateway and a Merchant back office CRM.
Here are some screenshots of the product to launch:
Watch the payment flow video:
In terms of progress, we have finished rebuilding the frontend parts of the system to support payments and donations. We have also finished most of the backend system to be compatible with Shelley and are in the final stages of completing it. We expect to be ready to go live with the first merchant, who is already known, in a few short weeks.
After we launch with the first merchant, we’ll scale up with the next ones in line.
Next week, you can expect a video update from COTI and the Cardano Team, to discuss more in depth about what we are doing with ADA Pay and Shelley Mainnet. You must watch this video!
You may follow our channels and the Cardano Foundation channels for official statements.
We’d like to thank the Cardano team that is working with us on this project and helping us bring this exciting project to life.
For all of our updates and to join the conversation, be sure to check out our channels:
Technical whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf