Vitalik Buterin-backed Social Web3 protocol Farcaster has introduced a new payment feature with the USDC stablecoin, developed by Circle.
Dan Romero, co-founder of Farcaster, unveiled the new payment feature of the Web3 social protocol, highlighting that users will now be able to send payments with a single touch from the profile.
The new payment feature was enabled by Farcaster's app, Warpcast, to allow users access to instant, commission-free digital payments without the need to use a cryptocurrency address.
Romero showed on his X account that Farcaster users can now access other users' profiles to send instant USDC payments. He also highlighted that the decentralized protocol's new payments feature is based on Base, Ethereum's Layer2 scalability solution.
Farcaster uses identity to send crypto-native payments
As mentioned, instead of having to search for and use alphanumeric cryptocurrency addresses, Farcaster users only need to access the profile of the people they want to send a payment to and click on the Pay function, to complete the transaction in a few seconds. There is even no need to remember a user's ENS name to send a payment with the stablecoin, as Romero shows in his post.
In a separate tweet, Romero also explained that users who wish to use the new payment function of the social platform will not have to complete a complex KYC form with their personal data. According to the developer, users of the protocol will be able to activate their digital wallets and make payments with USDC by simply providing the country of residence and date of birth.
This new feature simplifies cryptocurrency payments by using human-readable identities, solving some of the complexity when interacting with the crypto world. In addition to this, Romero highlighted that people will be able to easily access cryptocurrency payments from an application that they use every day on their mobile phone.
The co-founder of the protocol also told The Block that the payment function has been enabled for everyone on the L2 Base blockchain, but that being a decentralized and open protocol, in the future it will integrate support for other blockchains, cryptocurrencies and digital assets .
What is Farcaster?
Farcaster is a decentralized social media protocol that launched in 2020 with the goal of setting a new standard for creating social platforms and seeking to provide users with more social solutions. autonomous, private, interoperable and censorship-resistant, in which they can communicate and share content and information openly.
Warpcast is currently one of the most popular protocols on Farcaster. It is a social application that is very similar to Twitter but offers users secure and transparent interactions thanks to blockchain technology.
