Shardeum Launches PayFi: Internet Payment Solution

New Delhi, May 30 (PTI) Autoscaling Layer 1 blockchain Shardeum on Friday announced the launch of its payment solution PayFi to support peer-to-peer, micro and macro payments.

The PayFi will target macro payments like remittances, global payroll, crowdfunding, e-commerce, and institutional settlements, Shardeum said in a statement, adding that the autoscaling blockchain aims to become the Internet's default payments layer.

Micro Payments like AI-to-AI transactions, tipping, IoT payments, pay-per-use apps, and real-time bill splitting can be done at a significantly lower fee through the platform, Shardeum said.

"While blockchains like Bitcoin laid the foundation for decentralized payments, real-world adoption has been limited by high fees and technical constraints,” it added.

Shardeum's autoscaling architecture allows the network to expand based on real-time demand while transaction fees stay as low as $0.01 or less than Re 1. Shardeum launched its mainnet on May 5.