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<span style="font-weight: 400">Solana promises to reshape the world of payment with the availability of transaction requests for merchants and developers. </span>

<span style="font-weight: 400">Solana said</span><span style="font-weight: 400">, “</span><span style="font-weight: 400">it’s now possible to bring any Solana transaction into the real world through an interactive request between a checkout app and a mobile wallet, enabling NFT minting, dynamic discounts, tokenized loyalty programs, and so much more”.</span>

<strong>Key points are as follows:</strong>
<ul>
 	<li style="font-weight: 400"><span style="font-weight: 400">Merchants can communicate with customers in a two-way manner. The feature helps merchants to provide customized transaction links to users. At the point of sales, they can mint NFT or transfer loyalty tokens</span></li>
 	<li style="font-weight: 400"><span style="font-weight: 400">Merchants can pay transaction fees on behalf of their customers so that they don’t need to have SOL in their wallets.</span></li>
 	<li style="font-weight: 400"><span style="font-weight: 400">Merchant can refuse to reply to a transaction request. It can be then used to allow permission requests.</span></li>
 	<li style="font-weight: 400"><span style="font-weight: 400">According to Solana, merchants and brands can create a dynamic experience that sends gifts to customers, tokens and invitations.</span></li>
</ul>
In this article, we will explore what Solana pay is all about and how it promises to be ground-breaking. But before that, we need to understand what Solana is and how it works.
<h1>What is Solana?</h1>
Founded in the year 2017 by Anatoly Yakovenko, Solana is an open-source project that implements a new permissionless, high-performance blockchain. Unlike Ethereum, Solana is substantially faster in terms of transaction processing and has significantly cheaper transaction costs.

Solana uses both proof-of-stake (POS) and proof-of-history(POH). Proof-of-stake is a consensus technique used in cryptocurrencies to process transactions and create new blocks on a blockchain. The consensus technique is a way of validating entries in a distributed database while also keeping it safe. In POS, Validators (those who add transactions to the blockchain ledger) can verify transactions based on how many coins or tokens they own.

Proof of History can be used to cryptographically verify the passage of time between two events. It employs a cryptographically secure function that must be fully executed to generate the output and cannot be guessed from the input. With PoH transactions can be timestamped and confirmed swiftly.
<h2><strong>What is Solana Pay?</strong></h2>
<span style="font-weight: 400">A new payment system, Solana Pay, heralds a new era of payments and commerce. It is a peer-to-peer protocol and authorizes a developer to incorporate standardized payment into their apps and services.</span>

<span style="font-weight: 400">The protocol specifies how a customer can transmit digital dollar currencies such as USDC directly from their wallet to a merchant's account, settling instantly with charges measured in fractions of a penny. Loyalty offers and incentives are all integrated into the same messaging strategy, making them true building blocks for the future.</span>

<span style="font-weight: 400">For impeccable transactions, the Solana blockchain confirms the transactions in less than a second without any intermediary. It claims to do 65,000 transactions per second. Furthermore, the advent of Solana Pay has paved the way for several customer-friendly features, such as the ability to pay using a QR code or web browser plug-ins. SOL tokens and a few other stablecoins can benefit from these improvements.</span>

<span style="font-weight: 400">There are a few supporting wallets namely  Phantom and Solflare. </span>
<h2><strong>How Solana pay works:</strong></h2>
<span style="font-weight: 400">The following points highlight how the Solana pay works.</span><span style="font-weight: 400"> </span>
<ul>
 	<li style="font-weight: 400"><span style="font-weight: 400">The customer will scan the Merchant QR code on their wallet app which will be interpreted as Solana pay transaction request URL</span></li>
 	<li style="font-weight: 400"><span style="font-weight: 400">The wallet sends a request to the merchant API over HTTP.</span></li>
 	<li style="font-weight: 400"><span style="font-weight: 400">The merchant will receive a wallet address and can respond with the customized transaction</span></li>
 	<li style="font-weight: 400"><span style="font-weight: 400">Just like any other transaction, the wallet will show transaction details to the customer. Also displaying the merchant icon and URL</span></li>
 	<li style="font-weight: 400">The customer approves (or declines) the transaction by signing it with their private key and sending it to the network.</li>
</ul>
<h1><strong>The downside of Solana Pay</strong></h1>
<span style="font-weight: 400">Solana has been putting all its efforts to bring the best to its users. However, there are a few flipsides to it.  Since Solana pay is in its nascent stage, businesses might run the risk of losing their assets due to an attack on the network or any programming error. It is highly possible that if the business doesn’t have crypto knowledge, it might face basic errors related to the use of the crypto wallet. </span>

<span style="font-weight: 400">Another drawback is that it may face Ethereum's large user base. Even though Solana is faster than its competitors, Ethereum gives it a major face-off in terms of it being a bigger platform. </span>
<h1>Conclusion</h1>
With Solana pay, businesses can look forward to utilizing the blockchain's potential at the same rate as traditional payment networks. Without any interference from the intermediaries, Solana pay is all about the customer-merchant relationship.

This has opened up a new chain of communication. It is fast, easy, direct, and energy-efficient also. With this Solana promises to bring in a new perspective on offers, rewards, and merchant-customer relationships.

Solana Pay - A New Outlook Towards Merchant-Customer Payment Relationship

<span style="font-weight: 400">NFT world is booming with all the new developments and it wouldn’t be wrong to say that people are going berserk over all the things being launched. For example, recently Hyundai Motors announced entering the non-fungible token market in collaboration with Meta Kongs NFT brands. In this blog, we will discover what makes NFTs so popular but first let's unravel what is an NFT.</span>
<h2><strong>What is an NFT (non-fungible tokens)?</strong></h2>
<span style="font-weight: 400">NFT or non-fungible tokens mean it has unique attributes and cannot be replaced or interchanged. They are the tokens that indicate ownership of unique items including digital artworks, collectables, music, games, and many more things that can be digitized. One of the most important things about NFTs is that there is only one owner at a time and it is protected by a blockchain. </span>
<h2><strong>List of 5 Famous NFTs </strong></h2>
<span style="font-weight: 400">NFTs have been getting too much attention lately. From being endorsed by celebrities to big companies collaborating and entering the market, they have become a fad these days. What is more exciting about these NFTs is that they give exclusive rights to their members and they enjoy special privileges. Members can create a new piece of art using their already existing characters.</span>

<em><strong>Some popular NFTs are:</strong></em><b></b>
<h3><b>1. Bored Ape Yacht Club </b></h3>
<span style="font-weight: 400">Bored Ape Yacht Club created by Yuga Labs is so famous that it is currently being endorsed by many celebrities. From Justin Beiber to Jimmy Falon, these big names flaunt the apes on their Twitter handles and have made them the most sought-after NFTs in the market.</span>

<span style="font-weight: 400">With just 10,000 in number, BAYC enjoys its elite status by being scarce in number. Not only that, <a href="https://www.cryptoknowmics.com/news/bayc-instagram-hacked-3-weeks-after-discord-hack/" target="_blank" rel="noopener">BAYC</a> is coming with its first Hollywood debut movie “ <strong>The Otherside</strong>”.</span>
<h3><b>2. Doodles</b></h3>
<span style="font-weight: 400">Doodles, created by Burnt Toast are a collection of colorful characters having exciting visual traits. With just being 10,000 in number it includes cats, aliens, apes, skellys, and mascots. </span>
<h3><b>3. Decentraland</b></h3>
<span style="font-weight: 400">Founded by Esteban Ordano and Ariel Meilich in 2015, Decentraland is a virtual world running on the Ethereum blockchain. The users can buy and sell digital real assets, explore, interact and play games within the virtual world.</span>
<h3><b>4. Women Rise</b></h3>
<span style="font-weight: 400">Created by world-renowned artist and activist Maliha Abidi, Women Rise represents women from all around the globe. It is a collection of 10,000 unique NFTs with traits going beyond the diversity of colour of the skin. Women Rise looks forward to building the first school in the metaverse for children around the world who does not have access to education.</span>
<h3><b>5. Moon Birds</b></h3>
<span style="font-weight: 400">Launched on 16th April 2022, Moonbirds is a collection of 10,000 bird NFTs. It gives its members access to private club membership and additional benefits. There is this thing called ‘<strong>Nesting</strong>’, wherein the member can lock their bird and let it nest without leaving the wallet. Once the total time is accumulated, Moonbird achieves new tier levels.</span>
<h2><strong>Types of NFTs and Ways to Buy them:</strong></h2>
<strong><em>With non-fungible tokens gaining popularity, it comes up with new innovations and creations. Some of the popular types are as follows:</em></strong>
<ul>
 	<li style="font-weight: 400"><span style="font-weight: 400">Collectables</span></li>
 	<li style="font-weight: 400"><span style="font-weight: 400">Domain names</span></li>
 	<li style="font-weight: 400"><span style="font-weight: 400">Gaming</span></li>
 	<li style="font-weight: 400"><span style="font-weight: 400">Property</span></li>
 	<li style="font-weight: 400"><span style="font-weight: 400">Real-world assets</span></li>
 	<li style="font-weight: 400"><span style="font-weight: 400">Virtual items</span></li>
</ul>
<span style="font-weight: 400">In order to own the unique pieces of token one needs to have a digital wallet to store their cryptocurrency and NFTs. One can use platforms like Kraken, Opensea, and Coinbase to purchase cryptocurrencies. </span>

<span style="font-weight: 400">Usually, a small percentage of the crypto purchases is charged by the exchanges.</span>
<h2><strong>What Makes NFTs so Popular?</strong></h2>
<span style="font-weight: 400">For something to become popular and revolutionary requires uniqueness and acceptance. Perhaps that is the reason why NFTs are becoming hot cakes these days and everyone wants to own a piece of them. </span>

<span style="font-weight: 400">Another point that makes it unique is authenticity. Each collectable is different from the other and easily verifiable because of blockchain. Any fake collectable cannot be created because each item can be traced to its original owner.</span>

<span style="font-weight: 400">But there is a love-hate relationship going on in the NFT world. Recently, some very famous NFTs have been under hackers' radars. BAYC and Axie Infinity have seen some of the biggest hacks in the history of NFTs with millions of dollars worth of NFTs being stolen.</span>
<h2><strong>Not all that Glitter is Gold</strong></h2>
<span style="font-weight: 400">NFT world has seen a remarkable response and it has been accepted as something of value. However, there are a few drawbacks that are worth mentioning while talking about non-fungible tokens. Let's find out more.</span>
<ul>
 	<li style="font-weight: 400"><span style="font-weight: 400">In February, Open Sea confirmed a phishing attack. As explained by Peckshield, a blockchain security company, the process once authorized paved the way for hackers to steal the NFTs.</span></li>
 	<li style="font-weight: 400"><span style="font-weight: 400">The Crypto world was in shock again when hackers breached the Ronin network and stole cryptocurrencies of more than $600 million. According to Ronin, the attacker exploited a compromised private key to fabricate false withdrawals. Platform lost 173,600 ether tokens and $25.5 million coins worth over $620 million.</span></li>
 	<li style="font-weight: 400"><span style="font-weight: 400">On 25th April 2022, came another hacking news by Bored Ape Yacht Club. The hackers stole $3 million worth of apes including 4 Bored Apes, 7 Mutant Apes, and 3 Bored Ape Kennel club keys NFTs. </span></li>
</ul>
<span style="font-weight: 400">Apart from the hacks, the creation of NFTs involves huge computing power and many server farms are powered by fossil fuels. The environmental impact cannot be overlooked considering the already burdened Earth’s environment. </span>

<span style="font-weight: 400">It is not everyone’s cup of tea. For some people, it is just too overwhelming and they are not ready to accept it and conversation around NFTs is either rejected or ignored.</span>
<h2><strong>Conclusion on  NFTs being Popular</strong></h2>
<span style="font-weight: 400">We may love it or hate it but we cannot ignore it. NFTs are booming and there is no stopping them. It has helped enhance exposure for the budding artists and big brands that want to make an impact. </span>

<span style="font-weight: 400">Being so popular, everyone now wants to own and flaunt their avatars just like their profile pictures. Play-to-earn games are becoming famous and it has helped people earn a living. </span>

<span style="font-weight: 400">The digital artists who once used to display their art on other social media platforms were not getting the response they expected however, with NFTs becoming famous their artwork is getting due recognition. NFTs look promising with big brands jumping the bandwagon and trying to make a digital impact. </span>

5 Most Popular NFTs that You Should Know About!

<span style="font-weight: 400">Anyone who is acquainted with NFTs (non-fungible tokens) knows about Bored Apes. It has been a craze since its launch by Yuga labs in 2021. Being owned by big names like Eminem, Justin Beiber, Snoop Dogg, Paris Hilton, and Serena Williams makes it one of the most expensive of all tokens in the market. And the list just doesn’t end here.</span>

<em><strong>Here is the list of five facts about the Bored Ape Yacht Club that makes it so expensive and famous: </strong></em>
<h2><b>Bored Ape Fact 1: </b></h2>
[caption id="attachment_232438" align="alignnone" width="722"]<img class="wp-image-232438" src="https://www.cryptoknowmics.com/news/wp-content/uploads/2022/04/img1_bayc-1024x682.jpg" alt="Binance.com" width="722" height="481" /> <strong>Image Source:</strong> Binance.com[/caption]

<span style="font-weight: 400"><a href="https://www.cryptoknowmics.com/news/bored-ape-yacht-clubs-official-discord-hacked/">Bored Ape Yacht Club</a> or more famously known as Bored Apes created by Yuga labs is a non-fungible token created on the Ethereum blockchain. It is a set of 10,000 collectible NFTs with apes as their theme. Each ape is unique from the others with different characteristics. Most famous amongst them are:</span>
<ul>
 	<li style="font-weight: 400"><span style="font-weight: 400">Laser eyes </span></li>
 	<li style="font-weight: 400"><span style="font-weight: 400">Blue beam bored ape</span></li>
 	<li style="font-weight: 400"><span style="font-weight: 400">Solid gold fur on 46 ape</span></li>
 	<li style="font-weight: 400"><span style="font-weight: 400">Bored unshaven ape having pizza</span></li>
</ul>
<h2><b>Bored Ape Fact 2:</b></h2>
[caption id="attachment_232443" align="aligncenter" width="400"]<img class="wp-image-232443 size-full" src="https://www.cryptoknowmics.com/news/wp-content/uploads/2022/04/FD_-DjdXwAYsCml.jpg" alt="Jimmy Falon Bored Ape. Twitter.com" width="400" height="400" /> <strong>Image Source:</strong> Jimmy Falon Bored Ape. Twitter.com[/caption]

<span style="font-weight: 400">There are only 10,000 NFT on the Ethereum blockchain. The floor price at the time of writing is 113 ethers or </span><span style="font-weight: 400">$349,078.46 as per Coingecko</span><span style="font-weight: 400">. According to CNet, Jimmy Falon paid over $200,000 for an ape with a captain’s hat. Not only that, Jimmy Falon flaunted his ape on his Twitter account as well. Apart from Jimmy Falon, other big celebrities to own and flaunt their apes are Justin Beiber, Eminem, Snoop Dogg, Neymr Jr., Steve Aoki, Post Malone, Mark Cuban, Lil baby, Logan Paul, Kevin Hart and the list just keeps getting bigger and bigger.</span>

<span style="font-weight: 400">Being a part of Bored Ape Yacht Club, the members are granted access to exclusive benefits. For example, the member has access to a community drawing board to leave their digital graffiti and THE BATHROOM (It is a community drawing board where a member can paint one pixel every fifteen-minute). </span>
<h2><b>Bored Ape Fact 3:</b></h2>
[caption id="attachment_232449" align="aligncenter" width="400"]<img class="wp-image-232449 size-full" src="https://www.cryptoknowmics.com/news/wp-content/uploads/2022/04/GxpsJa-l_400x400.jpg" alt="Gordon Goner Bored Ape" width="400" height="400" /> <strong>Image Source:</strong>  Gordon Goner Bored Ape Twitter.com[/caption]

<span style="font-weight: 400">It was created by four friends with pseudonymous names: Gargamel, Gordon Goner, Emperor Tomato Ketchup, and No Sass. Until February 2022, their real names were not revealed to the public. However, as per online reports, Gargamel and Goner revealed their true identities on Twitter followed by Emporer Tomato Ketchup and No sass. </span>

<span style="font-weight: 400">A freelance artist Seneca who is not part of Yuga labs created the apes.</span>
<h2><b>Bored Ape Fact 4:</b></h2>
[caption id="attachment_232450" align="aligncenter" width="1024"]<img class="wp-image-232450 size-large" src="https://www.cryptoknowmics.com/news/wp-content/uploads/2022/04/Coinbase-Bored-Ape-Degen-Trilogy-1-1280x720-1-1024x576.png" alt="boardroom.tv" width="1024" height="576" /> <strong>Image Source:</strong> boardroom.tv[/caption]

<span style="font-weight: 400">Bored Ape is all set to star in their own  “ Degen Trilogy”. Degen means degenerates, stands for someone who gambles a lot and makes a bad bet. In a crypto context, it means a person who buys NFTs or coins without having any prior knowledge and without making any research. This trilogy will be produced by crypto exchange Coinbase. </span>

<span style="font-weight: 400">Yuga has asked bored ape owners to submit their apes for auditions with a backstory. Since the owners have full licensing rights on their apes. If chosen, the owner would get a $10,000 licensing fee in either bitcoin or ape coin issued by Yuga Labs. </span>
<h2><b>Bored Ape Fact 5:</b></h2>
[caption id="attachment_232453" align="aligncenter" width="1024"]<img class="wp-image-232453 size-full" src="https://www.cryptoknowmics.com/news/wp-content/uploads/2022/04/bored-ape-mutant-ape-yacht-club-nft-sales-skyrocket-floor-prices-spike-more-than-40-1024x576-1-1.jpg" alt="Yuga Lab" width="1024" height="576" /> <strong>Image Source:</strong> Yuga Lab[/caption]

<span style="font-weight: 400">Yuga Labs introduced Mutant Ape Yacht Club, a collection of 20,000 mutant apes created by exposing the existing bored ape to the vial of Mutant Serum. 10,000 mutant serum were airdropped to each bored ape member and they could then produce mutant apes by exposing apes to the serum. This was highly appreciated as the holders could produce a new piece while having their NFT uniqueness maintained. </span>
<h2><b>Conclusion</b></h2>
<span style="font-weight: 400">Bored Ape Yacht Club keep coming up with new and exciting things for its members. A recent member to join the club was Singer Madonna who acquired a bored ape #4988 last month.  Its features include funky pink fur and an S&amp;M hat. </span>

<span style="font-weight: 400">Not only that, recently some of the Bored Ape Yacht Club owners and Diamond Supply Co. have brought merchandise featuring some of the apes. The collection is known by the name </span><b>Zumiez Inc. </b><span style="font-weight: 400">Owners are free to create their own projects using their apes. </span>

<span style="font-weight: 400">Bored Ape Yacht Club's future looks promising considering the innovation that keeps happening. What is in store, will be revealed in the future.</span>

Author : Prerna Rohilla

Solana Pay - A New Outlook Towards Merchant-Customer Payment Relationship

5 Most Popular NFTs that You Should Know About!

Why Bored Ape is so expensive - 5 Facts