PAID Tech Update: Massive Update Incoming

At PAID Network, we are constantly looking to evolve our flagship SMART agreements product by integrating new features, improving existing functionality, and boosting efficiency for businesses looking to leverage SMART agreements as part of their operations.

While this is often implemented through gradual, constant improvements, we periodically release large feature updates that radically overhaul the capabilities of the PAID DApp.

Today, we are ready to announce the next set of updates to the PAID DApp — we believe these updates will help catalyze the next wave of adoption for the DApp and further empower the businesses and individuals that use it.

Here’s a quick look at what is coming next for the PAID DApp:

  • Smart contract rewrite: We will be completely overhauling the smart contract code to both improve gas efficiency and bake in support for further tech updates. We will also be implementing support for the Substrate EVM Pallet, which will allow us to deploy the PAID DApp on Polkadot.
  • BSC Bridge: As mentioned in our recent announcement, the PAID Network supply is now mirrored on Binance Smart Chain. Contracts can be checked here (Ethereum) and here (Binance Smart Chain). There are 594 million tokens minted on each chain, but the true overall supply of PAID tokens remains fixed at 594 million since the Bridge will only unlock BEP-20 $PAID tokens once the equivalent amount of ERC-20 tokens are locked — and vice-versa.
  • IPLD integration: IPLD is an abstraction from Protocol Labs that we are using along with bits from 3ID Protocol from Ceramic Network, alongside our own set of enhancements. The PAID DApp will use IPLD to integrate with decentralized storage networks (e.g. Swarm bee network & Arweave) — enabling decentralized document storage via the PAID DApp.
  • PAID DApp UI/UX update: We’ve updated our DApp UI/UX, this iteration benefits from the improved agreement smart fields data entry (using a wizard style stepper to help explain to the user what he’s entering). There is also a new agreement grid with filtering and searching, for easy navigation. We also modified the main menu to be collapsible, to allow the user to have more width when creating an agreement.
  • Connext integration: PAID Network will be integrating Connext to power non-custodial swaps between Ethereum, a variety of EVM-compatible chains, and layer-2 protocols to help DApp users maximize their capital efficiency.
  • Cemento Library integration: We will be implementing Cemento as a way to enable abstract EVM DApp development, helping to bring the PAID Network DApp to other EVM-compatible blockchains, such as Binance Smart Chain (BSC) and more further down the road.
  • Decentralized Identity (DID) support: We will be adding support for decentralized identity to help give PAID DApp users more control over their online identity and personal information through a self-sovereign decentralized identity solution. We are currently experimenting with several DID protocols and will provide more details on how the PAID DApp will make this available to end-users in an upcoming update.
  • Onboarding certified Ethereum experts: We are in the process of building out a team of certified Ethereum experts to help ramp up the development of the PAID DApp and SMART agreements — helping to support the ever-changing needs of our business end-users.

For more information about the PAID Network DApp and its development, see our previous update. As always, we are laser-focused on building a comprehensive decentralized toolkit for streamlining business agreements and making online business more efficient. This will complete several of our current roadmap goals, while further bolstering the utility our DApp provides to end-users.

About PAID

PAID Network seeks to redefine the current business contract, litigation, and settlement processes by providing a simple, attorney-free, and cost-friendly DApp for users and businesses to ensure they #GetPAID wherever they are in the world.

PAID technology leverages Plasm to operate on both Ethereum and Polkadot ecosystems. PAID makes businesses exponentially more efficient by building SMART Agreements through smart contracts in order to execute DeFi transactions and business agreements seamlessly.

PAID streamlines backend legal operations with SMART Agreements, so that projects can focus on making their brand bigger and better.

For any questions for the PAID network, please feel free to reach out to us on: