PayPal, the world’s largest online payment company, announced today that it has launched its PYUSD Stablecoin on Solana Blockchain. In fact, PayPal announced its recent stablecoin expansion. press release. It was stated that this decision will make PYUSD cheaper and faster to use.
You can also find out more about the following: Solana network The high transaction speeds and relative low costs of the system are well-known. This development gives users greater options in regards to the blockchain on which they want to run the stablecoin. This is the first time the PYUSD has been used outside of Ethereum.
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PayPal launches Stablecoin for Solana
This industry continues to expand through its diverse network options and projects. It is this facet that allows for increased innovation and competition, with the latest options being the most dominant.
A surprising result has emerged from one of the longest-running competitions. PayPal’s PYUSD has been officially launched on Solana. This is the first time that the stablecoin has been launched outside the Ethereum eco-system, choosing a much cheaper and faster alternative.
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PayPal stated that the decision to expand was made due to the “significant benefits for commerce use cases.” It specifically highlighted Solana’s place in the world. “the most used blockchain for stablecoin transfers,” It is also looking to increase the number of stablecoins that it offers.
Solana’s results are undeniable, despite the fact that they have struggled to maintain their systems in recent years. It is estimated that the network handles up to 65,000 transaction in one second. These transactions are also performed at an affordable cost of $0.0025. The 15 transactions per seconds that Ethereum can handle, along with the fees of $50 per transaction when it is overcrowded, are incomparable.
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Source: watcher.guru