æternity, an ecosystem for blockchain developers, yesterday revealed that it has secured shareholding in SatoshiPay having participated in the company’s latest funding round. Therefore, æternity will integrate the latter’s micropayments platform in its efforts to build a full stack value chain that serves blokchain developers.
SatoshiPay’s latest funding round attracted the following investors: Daniel Masters of CoinShares, Börsenmedien AG, SatoshiPay CEO Meinhard Benn, AERGO of South Korea and æternity Anstalt.
SatoshiPay has the ambitious goal of making their micropayments service, built on the blockchain, the fastest in the market, which means that they should be able to process over 2,000 transactions per second (TPS) in order to meet the needs of their expanding client base who demand peak throughput levels. One such client is Axel Springer SE, a European company focused on digital content that owns brands such as Bild, Business Insider, Upday, and Die Welt, which recently partnered with SatoshiPay to enable its clients to pay for its digital content using the crypto assets stored within their SatoshiPay wallets.
æternity’s major advantage is its high TPS rate, almost free transactions and state channels, which could allow SatoshiPay to create a service that may not be possible on other blockchains. Furthermore, æternity’s State Channels’ private smart contracts offer SatoshiPay’s enterprise clients a robust decentralized system for protecting their digital content and other types of intellectual property. The State Channels offered by æternity allow users to make free transactions once they have gotten access to the channels (they only pay an opening and closing fee), which is a major advantage for clients making micropayments.
Yanislav Malahov, Founder of æternity
The founder of æternity, Yanislav Malahov commented:
Acquiring a stake in SatoshiPay enables æternity to integrate a nanopayment solution with prime partners into our thriving blockchain ecosystem, where applications are built on the foundation of blockchain and smart contracts. Open source developers will be able to integrate nanopayment functionality via SatoshiPay for any types of digital content, data or services.
Meinhard Benn, CEO of SatoshiPay
Meinhard Benn, the CEO of SatoshiPay added:
æternity’s ability to deliver high throughput and extremely low-cost instant transactions through built-in state channels is a unique feature we need in our platform. In addition to this, æternity supports smart contracts in a way that other payment-focused blockchains do not, so this will be a great additional feature that we look forward to offering our customers through our upcoming B2B multi-ledger platform.
Æternity has over 20 projects that are managed by its incubator and accelerator service for blockchain startups known as æternity Starfleet, whose goal is to become a decentralized platform. Æternity’s venture capital arm, æternity Ventures, led the SatoshiPay investment and is also responsible for coordinating all direct investments made in early-stage blockchain projects. The company also has multiple community projects whose goal is to develop the æternity blockchain.
The collaboration also requires SatoshiPay to support æternity’s ecosystem by hosting meetups and running nodes.
SatoshiPay has entered into other partnerships such as the one with AEGRO, which allowed the company to improve its crypto micropayments.