Laqira Protocol is unveiling LaqiraPay, a crypto payment solution powered by Chainlink’s on-chain real-time price feeds

In the dynamic landscape of digital age, payment solutions have become a cornerstone of the global economy, transforming the way individuals and businesses conduct transactions. As societies increasingly embrace technology, the need for efficient, secure, and versatile payment systems has never been more critical. These solutions facilitate seamless commerce, enabling instant transactions across borders and time zones, which is essential in our interconnected world.

However, despite the pivotal role of payment solutions, there was a conspicuous absence of a fully decentralized payment gateway within the blockchain and cryptocurrency space. The existing crypto payment gateways had numerous disadvantages. For instance, the most prominent drawback of such solutions is their centralization. This implies that they collect money from buyers and transmit it to providers, a process in which they have the potential to manipulate the transactions. Other issues commonly faced by amateur users in these solutions include choosing a wrong network, sending an incorrect asset, transferring an incorrect amount, and sending funds to an incorrect address. Also, using existing crypto payment solutions, providers or sellers grapple with the intricacies of managing exchange rates across a myriad of cryptocurrencies when determining the pricing for their products and services which can result in financial losses for them. Additionally, the acceptance of a cryptocurrency as a viable payment method is contingent upon its widespread recognition. Consequently, newly established crypto companies face the formidable task of expending significant effort to persuade sellers to integrate their assets into existing gateways, despite their unwavering commitment and enthusiasm as a team.

Laqira Protocol company introduced LaqiraPay payment solutions to the industry which has successfully addressed all the aforementioned challenges. LaqiraPay is a fully decentralized asset-agnostic multi-network payment solution offering transparent on-chain financial statement.

LaqiraPay operates as a completely decentralized payment solution. This implies that every step of the transaction process, from receiving funds from customers to delivering them to providers, is conducted through a decentralized application established on the blockchain. Such a system operates without the interference or observation of any third-party company, ensuring an anonymous, direct and secure transaction environment.

Financial statements provided by LaqiraPay not only enable efficient transactions tracking and analysis but also, if necessary, facilitate providing transparent reports for authorities such as tax offices.

LaqiraPay offers a diverse range of payment services, encompassing:

*e-commerce website plugins

*public mono-links

*specialized mono-links

*and point-of-sale (POS)

systems. These solutions are designed to cater to the unique needs of businesses and consumers, ensuring smooth and efficient transaction processes. By integrating LaqiraPay’s payment services, e-commerce platforms can enhance their payment capabilities, providing customers with a seamless and secure checkout experience. Additionally, the availability of public and specific mono-links facilitates quick and easy payments for both general and targeted transactions, while the POS systems support in-store purchases, streamlining operations for brick-and-mortar businesses.

Integrating each of the above solutions offered by LaqiraPay is exceptionally straightforward for vendors. LaqiraPay solutions have been designed with user-friendliness in mind, ensuring that even those with limited technical expertise can effortlessly implement any of them. Detailed documentation and dedicated customer support further simplify the integration process, allowing vendors to quickly start accepting crypto payments.

LaqiraPay is asset-agnostic. Consequently, any asset with sufficient liquidity within a network can be listed on LaqiraPay, enabling customers to make purchases with these assets. Meanwhile, on destination, vendors receive stablecoins, such as USDT, ensuring price stability and mitigating the risk of market volatility. This dual-benefit system not only broadens the range of payment options available to customers, but also provides vendors with the assurance of receiving a stable and reliable form of payment.

To incentivize users of LaqiraPay, a cashback system has been established for customers. This system rewards users with a percentage of their spending returned to them.

Thanks to the feature of automatic valid network, destination address, asset, and required amount detection system in LaqiraPay, all issues related to asset loss by inexperienced users have been completely resolved. This advanced feature ensures that transactions are accurately processed without requiring extensive user input or expertise, significantly reducing the risk of errors. By safeguarding against common mistakes that could lead to asset loss, LaqiraPay enhances user confidence and security, making it accessible even to those new to digital transactions. This innovation not only improves the user experience but also promotes wider adoption by offering a reliable and user-friendly payment solution.

In LaqiraPay the required amount of a specific cryptocurrency for each transaction is automatically determined using Chainlink’s on-chain price feeds. This integration ensures that the cryptocurrency value is accurately calculated in real-time, reflecting the latest market rates. By leveraging Chainlink’s reliable and decentralized oracle system, LaqiraPay guarantees precise and transparent pricing for every transaction. This approach enhances the accuracy of payments and builds trust among users, knowing that they are transacting at fair and current market values.

About Chainlink

Chainlink is the most widely used decentralized blockchain oracle system, designed to enable the transfer of tamper-proof data from off-chain sources to on-chain smart contracts. This system ensures that external data used in smart contracts is reliable and secure, facilitating accurate and trustless interactions within the blockchain ecosystem. By bridging the gap between real-world data and blockchain applications, Chainlink enhances the functionality and applicability of smart contracts, supporting a wide range of decentralized applications and services with dependable, real-time data.

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