Algopay - an Algorand payment solution
Fresh off the prints - Algopay has launched for Algorand. Now you might ask yourself - what is Algopay? Don't sweat it. In my premier post we'll dive right into this game-changing topic. I'll cover what Algopay is, what Algopay is for, and what impact it will have on the Algorand system and cryptocurrencies in general. Not to mention some information on who's actually behind the project.
What is Algopay?
Algopay is a an online payment solution that was launched in Public Beta on the 26th of September 2021 by HEADLINE Design. The launch was officially first announced on the Reddit.com cryptocurrency subreddits, on of them being this post.
In essence Algopay let's any website or developer use a single string of code to activate the possibility of accepting Algorand and other ASA's (Algorand Standard Assets - I'll cover more on ASA's in another blog post) as a form of payment.
Update: AlgoPay have gotten it's own official website. There you can easily generate your own code for an embedded ALGO payment system.
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| AlgoPay lets you easily generate your own code. |
How does Algopay work?
Algopay can be installed with one single line of code added to the business or users website. In order for the Algopay payment solution to work properly it requires the website to run JavaScript code in the background. The code is open source and can be found through this GitHub link.
The developers will be adding documentation and full tutorials in the near future.
Algopays future in the Algorand space
Essentially we can now expect more and more stores and services to pop up where you can use your Algorand or an ASA as a means of payment. These are fantastic news for us fellow Algonauts. From now on it will be easier for likes of Tacocoin to properly handle transactions for their business. It has already been confirmed that one of the most popular Algorand assests Yieldly will be availible with Algopay as well, additionally the assets HDL and Planet Token will be integrated into the payment solution as well.
Who are Behind Algopay?
The creators of Algopay payment solution are HEADLINE Design. HEADLINE Design is actually one of several daughter entities to the primary legal entity HEADLINES Inc. Furthermore there's also HEADLINE News and HEADLINE Crypto. Is short - HEADLINE Design is the creative part of the organization, which is responsible for software-as-a-service revenue for their company, as well as maintaining the HEADLINE websites.
HEADLINE Inc. was originally founded by Aaron Martinez as late as May this year (2021). Previously the entity had been operating as a subsidiary under an insurance- and venture investment firm called Iron Oak Holdings LCC, ran by Martinez himself as well.
Furthermore Martinez had been looking to use cryptocurrencies integrated in HEADLINES news, as a result he chose the Algorand network as it seemingly had the best possibilities for a high level of integration. Not only did HEADLINE build a sub-community among Algonauts and recieve a lot of support for their work, in addition in June of 2021 they were granted an developer award from the Algorand Foundation, thus solidifying their position in the Algorand space even further.
Final Words
Finally if you found above post informative and interesting, then please consider stopping by AlgoDaddy for more weekly news and articles on Algorand and cryptocurrencies in general. Why not share the article with some of your current (or soon-to-be) algonaut friends?
Algo and out!
AlgoDaddy
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