January 19, 2018 Development


Monetha’s CTO Andrej Ruckij proudly announces our software update!


Hello Monetha users, today we deployed our updated payment gateway version with a production-ready functionality.

Merchants who will sign-up for this updated version will be able to accept payments with Ethereum in their e-commerce store, together with updated Trust and Reputation System. As a seller, you will be able to use either e-commerce integration: Magento and WooCommerce, or to use our “Magic Buy Now” button.

On a more technical side, like what is included in this update, there are three main things:

First one, we significantly improved the security of our e-commerce integrations and the buy now button.

We also introduced a very first version of smart contracts that handle the deal and merchant wallet. And also we improved the whole deal work-flow with a Trust and Reputation Engine and also we worked to improve the user experience.

Here’s a short run-through of how we improved the flow of the deal-processing and what happens when a buyer proceeds with payment via Monetha’s gateway.

1. When you see an item you want to buy, press “Checkout with Monetha”.

2. Wait for QR code to be generated and scan it with your preferred crypto wallet or just simply copy the displayed address to pay via other means. To do that, you have 15 minutes countdown and once this is done wait for the payment status update and as soon as it is displayed as being confirmed, it means that your payment is settled and parties reputation will be updated.

3. Now, all you have to do is basically wait for the goods to arrive.

So, this is it for now, this is what’s included in this update and we will continue working hard on future versions of our products, so stay tuned!

Thank You!