Cosmose AI has teamed up with NEAR Protocol, a Layer 1 blockchain, to create a cost-efficient payment system. Cosmose’s KaiKai app will use NEAR’s blockchain infrastructure to offer cheaper online payments, and the $500m-backed platform will also enable customers to transfer their data to NEAR’s blockchain to boost transparency. Founder Miron Mironiuk claimed that KaiKai can reduce the cost of transactions by 50 times compared to present market leaders PayPal and Stripe. Stripe and PayPal are said to charge 10% fees for small transactions, which he says eventually forces the seller to increase price, leading to customers paying an additional $200 each year. By contrast, KaiKai would bring down the cost to $4. While NEAR Protocol currently records a just 1.33% share among 19 Layer 1 blockchain projects, Marieke Flament, CEO of the Near Foundation, said it offers opportunities for scalability in a “sustainable, transparent, and infinitely scalable way”.
- Crypto News
- GemHunter
- April 24, 2023
Cosmose Collaborates with NEAR Protocol to Enhance Online Shopping Affordability
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