Safe, Stripe and Gelato launch development stack for easier smart contract development.
It is reported that Safe, a self-hosted infrastructure provider, announced the launch of a new development stack Safe Core in cooperation with Stripe, a paymen…
It is reported that Safe, a self-hosted infrastructure provider, announced the launch of a new development stack Safe Core in cooperation with Stripe, a payment giant, and Gelato, a decentralized financial agreement. It integrates account abstraction to simplify the development of smart contracts on the Ethereum blockchain. It will also simplify transaction costs and payment processes, and allow fiat on-pumping.
Safe cooperates with Stripe and Gelato to launch the new development stack “Core”
Interpretation of the news:
Safe has announced its collaboration with Stripe and Gelato to launch a new development stack, dubbed Safe Core. This initiative is geared towards enabling developers to create smart contracts aimed at decentralized finance on the Ethereum blockchain more efficiently. The stack will feature a new solution to minimize transaction costs, enhance payment process and incorporation of fiat on-ramp.
Safe is renowned for offering self-hosted infrastructure solutions that leverage blockchain technology. The company’s focus is to provide secure and trustless systems for businesses that run on the blockchain. Stripe is a payment giant that allows merchants to receive payments over the internet seamlessly. It is an essential player in the digital payments industry, and its involvement in the development stack can be interpreted as a move to expand its scope beyond digital payments. Gelato is a decentralized financial agreement that facilitates the automation of smart contract execution by providing customized wallets based on specific requirements. Safe’s integration with Stripe and Gelato in Safe Core presents a holistic approach towards solving the challenges that developers face in creating complex smart contracts.
One of the features of Safe Core that stands out is account abstraction. This incorporates a layer that separates the address used to make payments on the blockchain from the contract address. The primary benefit of this model is that developers can create smart contracts using normal networks, without having to deal with the complexities of creating functionalities that support multiple tokens on different blockchains. Additionally, it simplifies the smart contract creation process, reducing the amount of code written, and making it faster to deploy smart contracts.
Another advantage of Safe Core is that it integrates fiat on-ramp. Transactions involving fiat are a bottleneck in decentralized finance. Safe Core allows developers to access a variety of payment systems that offer fiat on-ramps. This makes it possible for developers to accept payments in fiat currency without necessarily creating a fiat wallet.
In conclusion, Safe Core is a new development stack that presents significant benefits for developers looking to create smart contracts for decentralized finance. The integration of account abstraction and fiat on-ramps are crucial milestones towards simplifying the creation and execution of smart contracts. The partnership between Safe, Stripe and Gelato represents the latest move in the race to create robust smart contract solutions for businesses.
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