The recent Developer’s Competition in Seoul witnessed Kyber Network showcase outstanding performance. The ‘dust’ hasn’t settled yet and it is already collaborating with the world’s first Ethereum payment service called Coinduck.
The expansion of possibilities for the use of cryptopayments in most f the everyday transactions is the central objective for the Korea company.
The best part about the service is the fact that it is pretty simple. All the merchants-both online and offline need to do is forward their wallet addresses and from that point the customers can proceed to send the payable amount and the calculations are done instantly in Ether at a live exchange rate.
Fundamentally, the processing duration takes only about five minutes and that ends up posing an inconvenience to both the customers and the merchant as well.
Coinduck’s on-chain deep learning algorithm and instant transaction technology are remarkable technological advancements and that is in close consideration of the fact that it now takes only five seconds to complete a payment.
The most exciting aspect is that these services are compatible with all the Korean mobile wallets and also with the exchanges around the globe. And that ensures easy access for all the holders of Ether.
Incase everything goes according to plan, Kyber Network might end up integrating its token conversion protocol with the services of Coinduck and thus as a result diversifying the accepted means of payment.
Several market observers conversant with the matter have said that the current growth of Kyber Network’s liquidity might soon culminate to the introduction of more cryptopayment options which will be readily available to the general public.
The striking of business partnerships is becoming the new order of the day for most of the businesses around the world. The new partnership will see Kyber Network gain immediate access to quite a large number of the off-line businesses. Time is moving pretty fast sparking about numerous changes, one of them being that the adoption of blockchain is becoming more and more of a reality. The addition of Coinduck to the ever growing list of outstanding partners is a step towards the right direction.