- Blockchain technology has many benefits but token prices can be volatile;
- Codugh is a company which has developed its own token called Codugh US (CUSD) to deal with price volatility;
- CUSD maintains a steady value of one-hundredth of a US cent ($0.0001) on the BSV blockchain;
- Micropayments on the blockchain offer cost-effectiveness, global accessibility, and other advantages;
- Codugh faced challenges in getting users to adopt crypto-based micropayments due to price fluctuations and payment difficulties;
- CUSD offers a native fiat experience while still using the BSV blockchain for micropayments;
- Users can deposit and withdraw funds using BSV, which are then swapped for CUSD tokens;
- CUSD can be used to buy API calls on the Codugh Marketplace, with all services priced in USD;
- CUSD plans to accept fiat currencies for deposits and withdrawals, providing a seamless user experience;
- Micropayments on the BSV blockchain enable economic opportunities and granular pricing for digital services;
- The BSV blockchain (BSV) offers cost-effective and efficient processing of micropayments with low fees.
While there are many benefits to working with blockchain, the fact that it is still a relatively nascent technology means tokens and token prices can be subject to volatility and general market forces. To address this, businesses and governments around the world are increasingly pegging a token against a more traditional fiat currency.
One such company is Codugh, which has developed its own token to deal with price volatility issues so that it can pay developers real-time micropayments to use their code. Codugh US (or CUSD) is a tokenised asset which sits on the BSV blockchain and maintains a steady value of one-hundredth of a US cent ($0.0001) to give Codugh’s users more price security.
Micropayments are awesome – but there are problems
Micropayments on the blockchain offer a range of benefits, including cost-effectiveness, global accessibility, efficient content monetisation, IoT integration, gaming applications, crowdfunding facilitation, and improved loyalty programs. As blockchain technology continues to evolve, micropayments have the potential to reshape various industries and unlock new economic opportunities.
However, there have been challenges in getting customers to adopt this micropayment model – despite the numerous advantages. Codugh cited a low uptake in users who were willing to use crypto-based payments for their product. Those who did often complained about the significant price fluctuations of the crypto-assets which they held, and the challenges in pricing and paying for products using these tokens.
How CUSD works
By comparison, CUSD offers users a native fiat experience whilst still using the BSV blockchain as the core technology driving the micropayments. Codugh explains that the true power of CUSD is that it moves towards giving users a comfortable native payment experience with blockchain-powered microtransactions and low-fee payments operating under the hood.
Codugh users can deposit and withdraw their funds using BSV. Once deposited, the BSV tokens will be swapped for CUSD tokens based on current exchange rates.
These tokens can then be used to buy API calls on the Codugh Marketplace, with all API services priced in USD. Users can then withdraw their funds by choosing a crypto and entering an external address to withdraw their funds to.
Looking forward, CUSD will expand to accept fiat currencies for both deposits and withdrawals. Once this is complete, it will offer a flawless native end-to-end user experience with instant cash microtransactions globally.
Micropayments on the BSV blockchain
Embracing the micropayment model provides economic opportunities and enables more granularly priced tasks for digital services. The BSV blockchain strives to enable micropayment transaction processing to facilitate these processes, helping entities fulfil humanitarian and cause-centred work, and improving global equity.
Digital micropayments have immense potential across all industries and market sectors. The pay-per-use model can disrupt the Silicon Valley subscription model, enabling more granular pricing. High fees eliminate the potential for micropayments, and efficiency is crucial for their success. BSV, with its $0.0001 fees, offers a cost-effective and efficient solution for processing micropayments, unlocking new opportunities for businesses.
The BSV blockchain serves as a real-time financial and data commodity ledger, allowing service providers to focus on their customers and removing the need for payment gateways, shopping carts, and slow transaction processing. This technology enables entirely different models, such as open application access with paid advanced features. BSV’s efficient blockchain brings a new world of possibilities for businesses to explore.
