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When it comes to blockchains and which ones are the best for transaction processing, you tend to hear Solana mentioned a lot. There is a good reason for this as the Solana blockchain can handle up to 65,000 transactions per second, making it very efficient for large scale blockchain use.
With this in mind, there is little wonder why so many organizations are turning to Solana for their blockchain needs. Many of these needs are becoming increasingly financial, as some organizations are leveraging Solana for wide-scale token distribution.
In light of this growing demand, a project called Streamflow is now offering a slew of features to improve payment streaming via Solana.
Streaming on Solana Most organizations, especially the bigger ones, need to manage multiple payments across different senders and recipients. Now, with Streamflow, they can do this using the Solana blockchain.
First of all, Streamflow has a feature called token vesting. This means that they set payments to go out at specific times (cliff dates), active payment streams can be transferred or canceled altogether if the customer wants, and when the payments reach the final recipient, they can be set to automatically withdraw into their wallet.
Another feature that Streamflow is offering is payrolls. Organizations that want to handle their financial streams using Solana can leverage Streamflow to manage payrolls. Batch payments can be made to their entire workforce and once these funds are available, the recipient can either withdraw them immediately or have them withdrawn into their wallet at the end of the payment period.
Because the finances of an organization are bound to be tricky, Streamflow plans to let its users run multi-signature operations from a dedicated account. Through this account, all the streams that are sent out, along with all the signees, will be visible.
This means that not only can financial operations run smoothly within the account but transparency can be ensured as well. This feature will be introduced to the Streamflow ecosystem very soon.
One of the common concerns for organizations handling their finances using blockchain is the potential for error. After all, once a transaction is sent through a blockchain, it cannot be reversed as with a traditional bank transaction. This is why Streamflow offers users something called a Sandbox. In this Sandbox, stream contracts can be tested before they are carried into the mainnet. This way, the organization can make sure that everything is running smoothly and if it isn’t, the issues can be corrected without any money being lost.
Overall, Streamflow has created an all-in-one system that wants to allow organizations to enjoy all the benefits of Solana for themselves and their employees. Ultimately, the management of Streamflow hopes that this will not just be limited to them and Solana but that their efforts will trigger a wider shift towards crypto as a form of payment and blockchain as a form of transfer for organizations.
A New Way to Stream We already use crypto for many things but we seem to be entering a new era where it is being consistently used for organizational payments. This is an exploration of another potential use for crypto and if this becomes widely used, it can only serve to benefit the industry as a whole.
But for this to be used on a large scale, the infrastructure has to exist for companies to make the changes from fiat to crypto with as few issues as possible. This is where projects like Streamflow come in, providing what these types of businesses need to fully embrace blockchain use.
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