Algorand AlgoSigner - Facilitating Digital Payment With Ease

Digital transactions is becoming the choicest way of making and receiving payments, due to how easy it makes the entire process, by saving time, reducing cost of transactions and even making allowing for cross-border payments, without being restricted by any regulations.

It has replaced the regular method of transacting, which was facilitated by the different financial institutions, because these systems are unable to keep up with the digital revolution and they lack the features which would help the offer the best financial services to their users.

Their inefficiencies could be seen in the fact that it takes an unnecessarily long time for transactions on their systems to be processed, causing the users to wait for long, which in a lot of cases leads to loss of business deals for most users.

Another is the high cost which the users are forced to pay when carrying out transactions on the financial institutions, leaving them with little or nothing as profit after making or receiving payment and the cost of maintaining these accounts are exorbitantly high, more reason most people are unbanked.

The inability to make cross-border payments is another detriment of the financial institutions today, as the users are restricted to only payments within the system, denying them the opportunity of exploiting different international businesses which could help improve the financial status of their nation.

All these and many more are the reason behind the preference on the digital method of transacting, because it gives solution to all the challenges of the regular financial institution.

The Blockchain Solution

This new found payment system is made possible through the emergence of the Blockchain technology, a technology which exhibits different features that facilitates a strengthened financial system, at the global level, upon its adoption.

And over the years, upon the inception of the digital payment method, different platforms have also emerged to help users enjoy the best of digital transactions, by helping them carry out these operations and acquaint them with the digital way of doing things.

Varieties of tools which have been created, where invented with the hopes of improving the digital system and make the world better, but sadly most of them still lack the tools to make digital transactions possible on its system and so are still dependent on other payment gateways such as the digital assets wallets and other portals through which payments could be made.

This means that users of these digital applications who wish to make payment for a product or service, are unable to because they do not have the capabilities to do so.

How then will a fully functioning digital system be achieved, if users are not able to carry out digital transactions in their digital lives.

I believe a lot of developers have launched out in the quest to add these great capability to their decentralized application, all to no avail and users are forced to take the tedious path of making digital payments the old fashion way of using a known payment gateway like the digital assets wallet, but all these is about to change,

Thanks To The Creation Of AlgoSigner

The AlgoSigner is designed as a browser extension of the Algorand wallet, that will let the Algo holders interact and make payments from different decentralized applications which have support for the AlgoSigner, with a great guarantee of security.

With this Dapps product, payments for users will become easier than it previously was, because all they have to do is to give permission for their existing Algo wallet, where their Algo funds is stored, to be integrated into the Dapps and then start carrying out transactions from there, with ease.

This great tool was invented by PureStake, a system that creates Blockchain tools for developers, through the grant made available by the Algorand foundation.

How The AlgoSigner Works

Developers who want their users to enjoy Dapps with the transaction functionality of AlgoSigner, now have the opportunity to create their application, and embed in it, the AlgoSigner feature, with ease.

This is done by integrating a JS library into the application being created, which then gives the user an option to connect their Algo wallet, so as to make transactions from that application to be possible.

Once the wallet is connected for the first time by the users, they now have the liberty of making payments while on the application, just by confirming every transaction to be executed, after which the transaction record is sent to the Algorand network to ensure transparency and accountability of the system.

Benefits Of AlgoSigner For Dapps Developers And Users

Users do not have to struggle unnecessarily just to make payments digitally, because with the AlgoSigner, they will be able to have full access and even interact with their Algo wallets, sanctioning transactions which they want executed.

The AlgoSigner was also made to be very secure by being able to execute transactions without giving away the user's private key or security information which would have jeopardized the assets stored on the wallet, rather every operation is confirmed by the user to ensure that their interest is protected.

The entire process has been simplified for the developers, as they have been presented with tools that will help them efficiently integrate the AlgoSigner transaction feature into their decentralized application.

These tools include a guide to help during the integration, samples of an already integrated application and a testing ground to ensure the efficient functioning of the created Dapps. With these, the developers have all they could ever require to build improved Dapps which are capable of facilitating digital transactions, without stress.

Conclusion

AlgoSigner is another peak in the digital revolution and the global financial system as they will both be made better through this achievement.

The transitioning into the digital era has indeed taken a good turn with the development of tools like AlgoSigner and users get to enjoy the digital transactions without stress and Algorand has one more time, proven to be the best in the Blockchain system as its AlgoSigner has set the pace for other Dapps developers, leading to the adoption of the digital system. Read here for full details

Author:

Nwokoro Gifton