Aeternity Teams Up With SatoshiPay For Faster Transactions

aeternity acquires a stake in SatoshiPay to accelerate developments on both networks.

During a recent funding round for blockchain-based micropayments solution SatoshiPay,  fintech firm and leader in smart contracts development aeternity announced its acquisition of a stake in the SatoshiPay platform.  aeternity Ventures, the venture capital arm of aeternity’s platform oversaw the investment, and will likely to provide SatoshiPay the same support it gives to the incubation program Starfleet Accelerator.

According to aeternity’s announcement, SatoshiPay hopes to leverage aeternity tech to reach a blazing 2,000 transactions per second in order to support volume from its growing roster of clients.

SatoshiPay’s clients include Axel Springer SE, Europe’s largest digital content company, which owns a host of media subsidiaries including Business Insider, Bild, and Upday. Among the benefits aeternity can offer SatoshiPay are increased transaction throughput, state channels and virtually free transactions, which can be used to build a service that isn’t possible on most other blockchains.

Additionally, aeternity’s private smart contracts offer users the benefit of privatizing certain activities on its network for free. “æternity supports smart contracts in a way that other payment-focused blockchains do not,” explained Meinhard Benn, CEO of SatoshiPay, in a statement. “[T]his will be a great additional feature that we look forward to offering our customers through our upcoming B2B multi-ledger platform.”

On the other end, aeternity gains the advantage of SatoshiPay’s micropayments platform. Of the partnership, Yanislav Malahov, Founder of æternity said:

“Acquiring a stake in SatoshiPay enables æternity to integrate a nanopayment solution with prime partners into our thriving blockchain ecosystem, where applications are built on the foundation of blockchain and smart contracts. Open source developers will be able to integrate nanopayment functionality via SatoshiPay for any types of digital content, data or services.”

The union of SatoshiPay and aeternity technologies will likely accelerate developments for both companies, and bring about powerhouse payments and smart contract services for the benefit of the wider cryptocurrency industry.

The author is invested in digital assets, but none mentioned in this article.