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Worldpay to start verifying blockchain transactions

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Worldpay to start verifying blockchain transactions

Giant payment company Worldpay plans to verify blockchain transactions for the very first time in order to better understand how funds move through digital ledgers.

According to a Bloomberg report on Sept. 26, the international payment provider is already in talks with several blockchains in hopes of becoming a validator, network participants that monitor and verify transactions in digital ledgers.

“The idea is to be part of the ecosystem right at the base,” said Sanchit Mall, Worldpay‘s web3 and crypto lead in the Asia-Pacific region. He explained that Worldpay intends to directly participate in blockchains so that they can better understand the flow of money in digital ledgers.

In 2024, Worldpay has processed stablecoin transactions amounting to $1.3 billion in value. The total transaction value increased from less than $1 billion in 2023, but it is still only a small portion compared to the larger sum of $2.3 trillion in transactions that Worldpay facilitates annually.

Validators are responsible for maintaining the integrity of digital ledgers. In order to do so, they have to isolate a chunk of the blockchain’s native cryptocurrency, an act known as staking. In return, they receive fees for monitoring and verifying transactions.

Some notable crypto validators include Coinbase, Metamask, Helius, and Galaxy Digital. Worldpay will be joining this line-up for the first time in the company’s history.

According to data from Solana Beach, Helius is currently the number one validator for Solana (SOL) with 12.8 million SOL tokens staked, followed by Galaxy and Coinbase with 12.7 million SOL tokens and 11 million SOL tokens respectively.

Although, Worldpay has partnered with other firms on crypto-related initiatives before. On March 7, 2024, Wordlpay partnered with web3 payment provider Wert to give access to JCB, Amex, and Discover cardholders and increase on-ramp adoption into web3.

Worldpay was also one of the trial partners along with Checkout.com for cryptocurrency custody provider Fireblocks’ payment engine back in Oct. 2022.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

Phân tích

ICP price triple bottoms as BOB, MSQ push transactions higher

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Internet Computer price retreated for the fourth consecutive day as network activity surged following the launch of fair minting protocols in its ecosystem.

Internet Computer (ICP) dropped to $7.70, its lowest level since Sept. 9, and 16% below its highest point this month.

The most recent ICP news involves the launch of Blockchain-on-Blockchain, commonly known as BOB, and MSQ Burn, which describes itself as the most advanced meme coin miner on Internet Computer’s blockchain.

These protocols operate similarly to Bitcoin mining but on the ICP network. In these systems, users spin virtual miners, fuel them with the ICP token – which burns the tokens in the process – and, in return, they mine new tokens.

BOB and MSQ aim to address the challenge of minting new meme coins, which has become easy due to popular networks like Pump.fun and SunPump. As a result, no one will be able to dominate the system by minting tokens for free.

Data from Internet Computer’s website shows that activity on the network has jumped in the past few days after their launch. The number of dApps or smart contracts on the network has increased to over 564,495, much higher than the 381,500 at the beginning of the year.

Additionally, the number of transactions in recent days has soared. Queries on Tuesday, Sept. 7, reached 1,355, while updates rose to over 8,700.

The number of internet identities on the network has climbed to over 2.6 million, up from 2.5 million three months ago.

Meanwhile, the total value locked in its ecosystem has dropped to $47.19 million from the year-to-date high of over $109 million. ckBTC, its Bitcoin (BTC) digital twin, has stagnated, with its assets sitting at $16.5 million. 

ICP is showing signs of bottoming

ICP price chart | Source: TradingView

ICP has fallen by over 63% from its highest point this year, underperforming compared to other popular coins like Tron (TRX) and Toncoin (TON). 

It formed a death cross in June, and its futures open interest has dropped sharply in the past few months. ICP remains below the 50-day and 200-day Exponential Moving Averages. 

On the positive side, there are signs that ICP is bottoming as it has formed a slanted triple-bottom pattern with a neckline at $10.94, its highest point on July 22. 

Therefore, ICP may stage a strong comeback if bulls hold it above the slanted triple-bottom level.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News