Onchain Payments are transactions that are directly recorded, verified, and settled on a blockchain’s main ledger. Each payment is broadcast to the network, included in a block by validators or miners, and becomes an immutable part of the distributed database. This method ensures transparency and censorship resistance, relying on the cryptographic security and consensus mechanisms of the underlying protocol. These payments are fundamental to the operation of most cryptocurrencies.
Context
The scalability and cost of Onchain Payments remain a primary area of development and debate within the blockchain community. While offering strong security, transaction throughput limitations and fluctuating fees can hinder widespread adoption for everyday use. Efforts to improve efficiency include layer-2 scaling solutions, sharding, and alternative consensus mechanisms, all aiming to make on-chain transactions faster and more economical.
Integrating dual-stablecoin settlement via Stellar's DLT allows a Visa principal member to bypass intermediary banking rails, achieving T+0 finality and 24/7 liquidity management for global card transactions.
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