HesabPay Successfully Migrates To The Algorand Blockchain

Twitter icon  •  Published 4 days ago  •  Hassan Maishera

The Algorand Foundation announced via a blog post on Wednesday that the Afghan e-payment solution HesabPay has successfully migrated to the Algorand blockchain.

The Algorand Foundation announced via a blog post on Wednesday that the Afghan e-payment solution HesabPay has successfully migrated to the Algorand blockchain. HesabPay’s migration, which was funded through the Foundation’s grant program, is expected to stimulate about 6,000 transactions daily and impact tens of thousands of Afghans, especially women, in dire need of access to payments.

The foundation added that by using the Algorand blockchain, HesabPay users would benefit from its Pure Proof-of-Stake (PPoS) consensus mechanism, which enables near-zero cost transactions that settle within 4.5 seconds.

Algorand is an open-source, permissionless, Pure Proof-of-Stake (PPoS) blockchain protocol for “the next generation of financial products.” As such, Algorand ensures "full participation, protection and speed within a truly decentralized network."  ALGO is trading at $0.3494 at press time, up by 6% in the last 24 hours.

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.

Sign up to our Newsletter

Want to read more amazing articles just like this one? Sign up to our newsletter to get them delivered to your inbox once a week!