Multi-currency gas payments on CENNZnet
Centrality is sharing the latest on the CENNZnet platform’s development and progress. To stay up-to-date on the progress of Centrality’s ecosystem, follow us on Twitter and our Telegram Announcements channel, plus join our community on Centrality’s Official Telegram, Reddit and Facebook.
We’re proud to announce we have completed one of the major milestones of the Scotch Bonnet phase of CENNZnet roadmap. We have finalised the multi-currency economy on the CENNZnet network 🎉
CENNZnet v1.0 is now able to pay for transactions in any generic asset through the use of the CENNZX spot exchange.
*The generic asset is any asset that is issued on the blockchain.
DApp users are able to settle fees and transact in that apps native currency giving DApp developers more control over user fee models.
DApps can build around specific asset economies, knowing nothing about CPAY, the native gas token on CENNZnet network. For example, the biggest DApp on CENNZnet Sylo can enable its users to pay their network fees entirely in SYLO token.
CENNZX spot exchange enables seamless fee payment experience
CENNZX is a port of the Uniswap v1 smart contracts and uses the same constant product market maker model. It makes token exchange instant and easy by eliminating rent extraction and centralised services while prioritising decentralisation, usability and security.
Transaction fees can be paid in any asset, provided there’s liquidity on CENNZX. The exchange will then seamlessly convert the asset into CPAY for fees. This will streamline both onboarding and in-app experience by eliminating the need for new users to learn about CENNZ or CPAY when they use their favourite DApp.
Refer to the CENNZX Spot SDK to learn how you can start using it.
Future developments
At Centrality we build technology with users at heart, thus improving the UX always remains a major focus. We aim to further enhance the user experience on CENNZnet by providing delegated fee payment with Doughnut technology.
DApps will be able to issue Doughnut to their users to enable them to transact with all fees being deducted from the DApp account, which is useful for onboarding. Instead of signing numerous transactions, as a user you would only have to sign it once, giving the DApp permission to deduct fees for all future transactions.
Stay tuned to learn how to create an asset on CENNZnet.
To stay up-to-date on the progress of Centrality’s ecosystem, follow us on Twitter and our Telegram Announcements channel, plus join our community on Centrality’s Official Telegram, Reddit, Facebook and LinkedIn.
