Introducing Solana to the Cashapp Company

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The topic of this study is the introduction of Solana technology into the Cash App mobile payment service. The integration is beneficial to increasing the transaction speed for Cash App users. It is necessary to study information related to blockchain networks to cover the topic. The issues that the work explores include the following: features of blockchain networks that can increase the speed of transactions, possible difficulties, benefits for Cash App users.

From Bitcoin to Solana by Li, Wang, Kong, Zheng, and Luo presents an exploration of the latest advances in blockchain technologies. The study is devoted to the problems preventing the widespread introduction. Solana’s achievements show that performance problems can be solved by innovating data structures, processes, and algorithms (Li et al., 2022). Combining time-consuming algorithms and security tools can improve the process (Li et al., 2022). This work is necessary to analyze the problems that may arise when integrating blockchain technology into a payment application. The article supports the need to implement Solana technology to speed up users’ transactions.

The Blockchain-Based Address Alias ​​System by Bodziony, Jemioło, Kluza, and Ogiela explores the best solution for integrating blockchain technologies. Due to blockchain-based systems’ decentralized nature, it is impossible to reverse confirmed transactions (Bodziony et al., 2021). The solution is the alias system, consisting of a series of smart contracts deployed on the blockchain network (Bodziony et al., 2021). The study covers the benefits for the users; it is necessary for a visual understanding of the effectiveness of introducing blockchain technology.

Blockchain Interoperability by Mohanty, Anand, Aljahdali, and Villar explores the interoperability of blockchain and atomic inter-chain transactions. Atomic swap technology can significantly reduce the associated costs without using any centralized authorities (Mohanty et al., 2022). The system can contribute to the development of a sustainable payment system for greater financial inclusion (Mohanty et al., 2022). This work supports the thesis about the efficiency of blockchain technologies; it will be used to understand the best way for integration.

Thus, the literature covers the main issues related to the implementation of Solana technology: efficiency, advantages, difficulties. The literature will be used to explore these issues further, supporting the evidence of the effectiveness of the implementation. Further research may include examining examples of implementing technologies in the payment system to demonstrate visual evidence. The complexity and the number of difficulties in integration require detailed study to create a successful functioning model.

References

Bodziony, N., Jemioło, P., Kluza, K., & Ogiela, M.,R. (2021). Journal of Theoretical and Applied Electronic Commerce Research, 16(5), 1280-1296.

Li, X., Wang, X., Kong, T., Zheng, J., & Luo, M. (2022). . Lecture Notes in Computer Science, 12991(1), 74-100.

Mohanty, D., Anand, D., Aljahdali, H. M., & Villar, S. G. (2022). . Sustainability, 14(2), 913.

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