Global digital currency payment processor, CoinPayments (CPS), has formed a partnership with Syscoin (SYS) to develope a new decentralized peer-to-peer marketplace. They will build the new platform atop the current CoinPayments framework, existing since 2013. The CoinPayments coin the will be the first digital asset as well as airdrop unveiled on Syscoin’s blockchain. Additionally, CPS will benefit from smart features that only the Syscoin network possesses.
Some of these features include the instant-settlement, zero-confirmation function known as Z-DAG, a solution to double-spending. The feature allows for the immediate processing of transactions without having to wait for confirmation blocks from the network. Thus, vendors can instantly receive virtual currency payments from customers.
Syscoin aliases will also be integrated into the new CoinPayments marketplace to simplifying payment receiving and sending. This will mean that it won’t be necessary anymore to use complicated alphanumeric addresses as something more personalized will replace them. When purchasing, the account verification is done using a private key associated with each alias. A single user can have a couple of aliases under one account which makes fund management easier.
This month, CoinPayments announced it would be launching a CPS airdrop where all current users get 100 CPS coins. The total coin value is approximately 10 euros. The airdrop will last until August 1st, 2018. From the beginning of this month, users buying CPS coins will receive a bonus of one coin for every coin they purchase. For orders above half a million euros in a 24-hour period, there will be a bonus of three coins for every purchased one. Additionally, CoinPayments intends to lower the conversion and transaction fees for token holders to enhance the user interface.
Since inception in 2013, CoinPayments has grown a presence in 182 countries with 1,291,500 service users. CoinPayments, which currently supports payments of more than 300 virtual currencies, recently announced integration with multichannel commerce platform, Shopify. The platform boasts more than 600,000 businesses employ its e-commerce service.
“The goal of our integration for Shopify is to provide an alternative payment option for their merchants and expand the adoption of cryptocurrencies. Our platform allows merchants using Shopify to accept cryptocurrencies among other payment methods,” wrote CoinPayments in a blog post.