An adoption-focused ecosystem that is built to simplify the way crypto payments are made says its smart contracts have been successfully audited by an independent firm — with the beta version of its app receiving a warm reception since being launched in early June.
Samecoin says more than $2 million was locked in its protocol within an hour of launch, and an extensive list of partnerships means that it delivers immediate utility. The project’s team is also growing quickly, with new hires being made on a regular basis.
Permissionless asset creation is one of Samecoin’s strong suits, and these tokens have a value that’s tied to a basket of cryptocurrencies. Multiple stablecoins can be found within the project’s ecosystem too, offering reliable pegs to fiat currencies including the euro and dollar.
One of the project’s main goals is improving the way that payments and authentication are performed in the cryptocurrency ecosystem — reducing price instability and the need for time-consuming Know Your Customer procedures. Overall, Samecoin aims to deliver a versatile, multi-purpose environment where transactions are completed quickly and reliably.
An advanced solution
A crucial part of simplifying the world of crypto payments hinges on streamlining the verification that is performed by third-party services. This is facilitated through SameID — decentralized identity technology that provides a single login across every online store and DApp that supports Samecoin. Not only does this enhance security, but it also ensures that consumers only need to remember a single password.
Another cog in Samecoin’s infrastructure is SamePay, which aims to tackle some of the usability issues that remain a stumbling block in the crypto sector today. This app ensures that digital assets can be sent to human-readable usernames or cell phone numbers, making long and indecipherable strings of letters and numbers a distant memory. Authentication provides an additional level of protection and helps funds remain safe, and the app is also designed to facilitate the exchange of major cryptocurrencies at competitive rates.
SamePay is set to be released on Android’s App Store in the fourth quarter of 2021, paving the way for a long-awaited debut on Apple’s App Store in the first quarter of next year.
Speaking to Cointelegraph, the project said: “Unfortunately, crypto has not been as widely adopted as we expected in our everyday lives. The vast majority of people still do not know how to buy crypto and where and how to use it.
“We focus on the user experience — translating and transforming the complexities of crypto for the billions of people who know about crypto but are too afraid to get to know and use it. We hope this will make Samecoin one of the first to achieve adoption in that untapped market.”
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Plenty to look forward to
Samecoin has already attracted a number of high-profile partners and backers — including Binance Smart Chain, iGamingGroup and BlueOcean Gaming.
The project’s protocol is due to be released in full in July, which is when an initial DEX offering is going to be held on PancakeSwap. By September, Samecoin and SameUSD will have listed on centralized exchanges, and its stablecoin will begin to be used within products for the very first time.
SamePay’s development team is set to be ramped up substantially as 2022 kicks off as a tailor-made solution for businesses is created. SameID will also enter its public alpha stage toward the end of next year.
As the world goes increasingly cashless, and the opportunities afforded by digital assets are more keenly explored by consumers and companies, Samecoin hopes to be at the forefront of a new chapter in our relationship with money.
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