A payment primitive in the context of digital assets is a fundamental building block or basic function that enables the transfer of value on a blockchain network. These primitives are the simplest forms of payment operations, such as sending or receiving cryptocurrency. More complex payment systems and applications are constructed using these foundational components. They form the basis of digital transactions.
Context
Payment primitives are essential for the functionality of any cryptocurrency or blockchain, facilitating the core utility of digital value exchange. News often discusses improvements in transaction speed, cost efficiency, and security of these underlying payment mechanisms. The development of new layer-2 solutions frequently aims to enhance the performance of these primitives.
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