Users can spend by downloading a Flexa-supported wallet on iOS or Android and can stake AMP by connecting their wallet (MetaMask, Coinbase Wallet, etc.) to the Flexa decentralized app (dApp). Platforms such as Gemini Pay and SPEDN rely on the Flexa network to allow users to pay for transactions using bitcoin, Dogecoin, or other cryptocurrencies at retailers such as GameStop and Nordstrom, to name a couple. Transactions on the Bitcoin network, for example, could take 10 minutes to complete, which is too long to expect anyone to wait when they are paying for a cup of coffee.įlexa allows for the instant authorization of payments for goods and services. One of the drawbacks of cryptocurrency payments has been the time that transactions take to be completed at the point of sale. The staking feature thrusts Flexa into the world of decentralized finance, (DeFi), where there is USD 1.19 billion in total value locked (TVL) on Flexa at last check. In exchange, stakers earn a reward that comes from the fee that Flexa charges to businesses on its platform. The Amp community is incentivized to stake their tokens to Flexa-powered wallets via smart contracts to support cryptocurrency payments. That’s because if a transaction on the Flexa network using bitcoin or Ether fails as a result of lengthy transaction times, for instance, Amp steps in to offset those losses. Users describe Amp as transaction insurance. It is through Amp being used as collateral that Flexa can “secure payment authorizations while the underlying asset remains unconfirmed, and approve merchant transactions in close to real-time.” By design, Amp’s role is to “decentralize the risk in a payment transaction.” As a result, payment transactions on Flexa are deemed secure. Users with a Flexa-powered wallet can use their cryptocurrencies for payments at merchants - including brick-and-mortar locations and online - across the United States and Canada. To fully understand Amp’s role in the cryptocurrency ecosystem and determine if Amp is a good investment, it is necessary to have a grasp on Flexa.įlexa is defined as a “merchant payment network designed to enable universal acceptance of digital assets,” according to the project’s whitepaper.
#AMP CRYPTO PRICE SOFTWARE#
Amp was created by developers at Flexa and blockchain software firm ConsenSys, the latter of which is led by Ethereum co-founder Joseph Lubin. In doing so, it paves the way for instant transactions across more than two dozen cryptocurrencies. More and more crypto investors want to know if Amp is a good investment, so we’re going to try to provide an answer in this article.Īmp, an Ethereum-based token, serves as collateral for both digital and physical assets on Flexa.
Amp, which was formerly known as Flexacoin, is the digital collateral token and staking platform of the Flexa network, whose mission is to bring cryptocurrency payments to the mainstream. If you believe that cryptocurrencies are moving in the direction of the payments use case, then you may be interested in the AMP token.
0 kommentar(er)
