Dropp Leverages Hedera DLT to Launch Micropayments Plugin for Woocommerce and Shopify
Dropp gives consumers affordable access to products and services on an a la carte basis that may have previously only been available via a monthly or yearly subscription.
A keynote exemplar of a Blockchain Builder Blueprint is how Dropp is working with Hedera, to offer micropayment plugins for popular e-commerce apps like Wordpress and Shopify.
Dropp offers businesses a profitable micropayment option to enable small value purchases with fees that are on average 15 times cheaper than most payments solutions.
Whether you’re selling individual articles, videos, or exclusive content, Dropp provides an ultra-cost-effective way to get paid. Offer pay-per-use access to your content as an alternative to a subscription.
The technology is designed to give merchants pricing flexibility that enables purchasing options such as pay-per-use and micro-subscriptions, helping them to retain and attract a new customer base as well as opportunities to add a new revenue stream. Dropp gives consumers affordable access to products and services on an a la carte basis that may have previously only been available via a monthly or yearly subscription.
Hedera
The Dropp platform was developed by a team with deep expertise in regulated banking technologies and was built on the Hedera Hashgraph network, a high-performance public distributed ledger network.
Hedera is a public, open-source network that enables the creation of decentralized applications (dApps). It’s built on a directed acyclic graph (DAG) design, which differs from traditional blockchains, and uses a hashgraph consensus mechanism to achieve faster, fairer, and more secure transactions.
Hashgraph is a distributed ledger technology that has been described as an alternative to blockchains. The hashgraph technology is currently patented, is used by the public ledger Hedera, and there is a grant to implement the patent as a result of the Apache 2.0’s Grant of Patent License so long as the implementation conforms to the terms of the Apache license. The native cryptocurrency of the Hedera Hashgraph system is HBAR.
Dropp is unique as a micropayment option that facilitates payments in both government-issued currencies such as U.S. dollars and Hedera’s native, energy-efficient cryptocurrency HBAR, which is used to power decentralized applications and protect the network from malicious actors.
“Micropayments is an ideal use case for Hedera’s decentralized network and we are very excited about the launch of Dropp on the Hedera network,” said Mance Harmon, Hedera CEO and co-founder.
“Dropp is one of the few platforms available in the market today for the everyday consumer and merchant, thus the adoption possibilities are endless.”
