TL;DR
- PKT is a DePIN blockchain project designed to power the censorship-resistant PKT Network.
- Websites in the PKT Network are accessible through traditional web browsers and peer-to-peer.
- The PKT Network has integrated payment rails that will soon support payments made directly to a web URL, mitigating the need for an intermediary e-commerce payment processor.
In the world of blockchains, there is one decentralized physical infrastructure (DePIN) project that distinguishes itself by its innovative approach to e-commerce. This article provides an overview of the PKT ecosystem and its real world use cases in e-commerce.
Building Internet Infrastructure by the People
The PKT Network is a censorship resistant ecosystem where users can build and browse websites in the decentralized web. The PKT Network also facilitates online access through decentralized wifi access points. To date, more than 11,000 people have used the PKT Network’s mesh wifi access to get online.
Seamless Ecommerce Payment Processing
The PKT Network is designed for high volume micro-transactions. In an upcoming release, PKT Network will enable digital payments to be made directly to URLs for websites built in the network boasting near-zero transaction fees. Using these integrated digital payment rails eliminates the need for payment processing intermediaries. Funds are near-instantaneously and can then be converted into any regional currency. This can improve ecommerce efficiency and eliminate the friction associated with 3rd party payment processors.
Traditional ecommerce platforms use intermediary party payment processors that charge high gateway fees ranging from 2% to 5%+. Payment processors also charge a flat fee per transaction ranging from $0.05 to $0.50+. Payment processors require a bank account and may escrow funds and hold back reserves, which can delay settlement.
With the launch of PKT Network’s e-commerce payment rails solution, this will offer a viable alternative to traditional web hosting and e-commerce. PKT Network’s native censorship-resistance and end-to-end encryption further substantiate this technology for both business and enterprise use cases.
PKT Lightning Network
PKT’s network payment rails use an innovative version of the Lightning Network, known as PLD (PKT Lightning Daemon). PLD harnesses the core principles of the Lightning Network, notably its ability for rapid, off-chain transactions, and tailors them to meet the specific demands and capabilities of the PKT ecosystem.
The key feature of PLD is its capacity to facilitate near-instant settlements. This is a significant advancement, especially in the realm of micro-transactions where speed is paramount. By bypassing the often time-consuming process of block confirmation on the main blockchain, PLD dramatically reduces transaction times to fractions of a second. This immediacy is not just a matter of convenience but also a critical factor in ensuring fluid and efficient e-commerce.
PLD also addresses the importance of scalability.PLD can handle a near-infinite number of transactions per second. This starkly contrasts with the inherent limitations found in many traditional blockchain networks, where transaction throughput can become a bottleneck as the user base grows.
Conclusion
PKT’s censorship-resistant ecosystem and integrated payment rails are bringing forth a new paradigm for blockchain and mesh networking. This delivers a view into the future of how cryptocurrencies can be more seamlessly integrated into everyday transactions.
The PKT Network is setting a new standard for speed and scalability, making it a formidable player in the evolving landscape of digital currencies. The introduction of PLD within the PKT Network underscores not just an incremental improvement but a leap forward in the world of e-commerce.
Keep a close eye on the PKT project as it continues to evolve one of the most important DePIN projects focused on the future of decentralized internet access and the decentralized web.
To learn more about PKT and the PKT Network, visit https://pkt.cash.
