Building Global Economies Through Better APIs: Lessons from PayPal vs Crypto for Crypto Payments in Developing Countries
The article discusses the development of a crypto-payment gateway aimed at helping digital creators monetize their work. Initially, the integration of a popular crypto-payment library failed due to high latency and costs. A switch to a custom-built solution using the MetaMask library significantly improved performance and reduced costs, leading to increased creator adoption and transactions.
- ▪The platform aimed to provide an inclusive payment solution for digital creatives worldwide.
- ▪The initial attempt using CoinPayments failed due to high latency and transaction costs.
- ▪Switching to a custom-built API with MetaMask reduced latency to 150 milliseconds and costs to $0.002 per query.
- ▪This change resulted in a 25% increase in creator adoption and a 30% increase in transactions.
- ▪The experience highlighted the importance of balancing scalability and cost in system design.
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try { if(localStorage) { let currentUser = localStorage.getItem('current_user'); if (currentUser) { currentUser = JSON.parse(currentUser); if (currentUser.id === 3942568) { document.getElementById('article-show-container').classList.add('current-user-is-article-author'); } } } } catch (e) { console.error(e); } ruth mhlanga Posted on May 21 Building Global Economies Through Better APIs: Lessons from PayPal vs Crypto for Crypto Payments in Developing Countries #webdev #programming #dataengineering #python The Problem We Were Actually Solving Our users weren't just any users. They were digital creatives – artists, writers, musicians, and designers – who desperately needed to monetize their work.
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