Ethereum’s transaction volume is similar to Visa’s due to the increasing popularity of blockchain transactions

There is an image of a person holding a digital tablet at the top of the page. The article discusses Ethereum, a newer payment technology that has shown impressive growth in the past decade. Despite being associated with scammers and cybercriminals, blockchain technology has become powerful enough to rival established players like Visa. Recent data shows that Ethereum processed $3.01 trillion in transactions, slightly less than Visa’s $3.08 trillion. Ethereum is the second-largest network with a market capitalization of $227.8 billion, behind Bitcoin’s $538.96 billion and ahead of Tether’s $82.8 billion. Ethereum has become a versatile environment that offers many financial technology solutions, including DeFi, staking, lending, and flash loans. It is becoming increasingly popular among established players, like Visa, who are interested in utilizing the novel technology. Visa has used Ethereum’s Goerli testnet to try out transaction-free payments with the help of account abstraction, which allows the company to perform complex tasks on behalf of accounts and manage transaction costs. Ethereum’s ERC-4337 standard achieves account abstraction without a consensus-layer change, allowing users to bundle and automate transactions on the network. Visa is committed to crypto and plans to build new products that can facilitate stablecoin payments in a secure, compliant, and convenient way. At the time of writing, ETH was trading at $1,898, up 3% in a day and 4.5% in a week.

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Learn more:

– Demand for ETH Staking Soars Despite Nearly Month-Long Waiting Period – After Eight Years of Dormancy, Long-Forgotten Ethereum ICO Wallet Resurfaces with $15 Million Worth of Funds – Global Payments Giant Visa Experiments with Ethereum’s Goerli Testnet – Here’s the Latest – Mastercard Looking to Make Cryptocurrencies Everyday Way to Pay – Ethereum Gas Fees Explained – 5 Reasons Why Your Business Should Accept Ethereum

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