Saturday, February 24, 2024

Solana Pay Added Customized Transaction Requests For All Merchants

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Solana Pay added customized transaction requests for merchants while it only allowed one-way transfers of the SOL assets between users so let’s read more today in our blockchain news today.

Solana Pay added customized transaction requests and will facilitate the transactions between merchants and users with a feature that goes live on the protocol this week. The developers added the transaction request feature to allow merchants to provide customized transaction links to the users like unique non-fungible tokens or virtual gifts.

The merchant receives the wallet address in the request and can respond with a customized transaction for the customer so this means that any Solana transaction will allow for interactive requests between a checkout app and a mobile wallet:

“Merchants and brands can create dynamic experiences that send tokens, invitations, and gifts to customers.”

They could range from the minting of unique NFTs, customized discounts, and tokenized loyalty programs. The merchants can decline to respond to the request which can be used to allow permissioned payments where authentication is required. The Pay product allowed only one-way transfers between users like those of Solana’s SOL, NFTs, and USDC. Solana wallets Phantom and Solflare support this new feature and the SOL prices bumped up 9% in the past day with the tokens outperforming the market as BTC and ETH rose 5% on average.

Solana stakeholders rushed to right the network on Saturday with what one insider called an “insane amount of data” which flooded the PoS chain and knocked validators out of hte consensus and grinding being still in block production. Bots swarmed the popular NFT mining tool known as Candy Machine with an unprecedented tsunami of inbound traffic which is four million transaction requests and 100 gigabits of data each second which is a record for the network one source at the Solana Foundation noted.

sol price
SOL rose above resistance at $88 last night. (TradingView)

The Solana ecosystem such as Phantom wallet and Mango Markets struggled to stand up in the aftermath as the RPC node providers went back online. The outage contributed to an albeit drawdown in SOL markets and the native token crashed to a 24-hour low of $83.13 which is three hours into the outage before going back towards $89. Solana core developers have to diagnose what went wrong Saturday or how the botting attack overcame the safeguards.

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