The partnership between Gateway.fm and Wirex ushered in a new era of blockchain-driven financial services, marking a significant milestone in crypto payments. Through the integration of Wirex's services with our Presto service, powered by Polygon CDK, we achieved results that set new standards in compliance and operations in the crypto-financial industry.
Key components of our collaboration include the integration of L2 solutions, smart contracts, KYC procedures, private zkEVM rollups, and transaction bridging. We provided solutions for security, scalability and cost efficiency. This partnership has not only optimized transaction throughput but also reduced strain on the Ethereum mainnet, ensuring reliable payment services for Wirex users.
Presto manages zkEVM rollup deployment, enhancing blockchain scalability while maintaining security and trustlessness - reducing computational workload and alleviating blockchain congestion. Presto's privacy-preserving zkEVM rollup solutions enable unprecedented levels of scalability, efficiency, and privacy in blockchain networks.
Furthermore, our implementation of Polygon's CDK gives expression to our commitment to technical innovation. By leveraging CDK, we achieved gasless transactions and enhanced security in off-chain transaction processing, further improving the efficiency of Wirex's payment ecosystem.
In summary, the collaboration between Gateway.fm and Wirex represents a significant advancement in blockchain scalability and payment solutions. The project's primary objective was to seamlessly integrate blockchain technology into Wirex's existing card processing and banking infrastructure.
Through the customization of our Presto implementation and a sophisticated smart contract platform, we achieved this objective while bridging the gap between conventional finance and DeFi. Our joint efforts have not only addressed immediate challenges but have also laid the foundation for a future-proof, efficient and adaptable crypto payment ecosystem.
The Technical Implementation
The technical architecture of our integration with Wirex encompasses several key components that highlight the depth and breadth of our collaboration.
Smart Contracts
Wirex Pay leverages a sophisticated system of smart contracts designed to facilitate the integration of the Web3 ecosystem with traditional payment processing. This includes advanced mechanisms for increased transaction limits, ensuring scalability to accommodate a growing user base.
KYC Integration
The blockchain system has been seamlessly integrated with Wirex's existing off-chain KYC procedures, ensuring regulatory compliance, especially in light of the EU's MICA regulations. Backend Oracle services provide communication between Wirex's off-chain KYC and on-chain smart contracts, mirroring the on-chain KYC data to ensure security and efficiency for L1 verification.
Processing System Integration
The new blockchain system is now seamlessly integrated with Wirex's current processing system for Visa and Mastercard transactions. This integration guarantees instant transaction confirmations and operational continuity and efficiency during transactions.
Transaction Bridging
Existing zkEVM bridges have been utilized for transferring funds from Layer 1 to the card, ensuring compatibility and efficiency in the transfer process directly on the blockchain. Clients can now bypass centralized exchanges and interact with the blockchain directly.
Private Rollup
A Layer 2 scaling solution enhances transaction privacy and reduces the load on the main Ethereum network, ensuring faster transaction processing and no fees while maintaining the security guarantees of the Ethereum mainnet. Gateway's approach reduces the strain on the Ethereum mainnet, ensuring that Wirex's payment services remain robust and reliable even during periods of high demand. L2 transaction processing, secured with zkProofs, plays a pivotal role in alleviating congestion on the Ethereum mainnet by sending transactions directly to L2 and storing them on the DAC (Decentralized Autonomous Committee). Presto bridges facilitate the transfer of assets between Layer 1 (L1) and Layer 2 (L2) blockchains.
Users initiate the transfer process by bridging funds from L1 to L2. Once the funds are on L2, Visa or Mastercard initiates the transaction by calling Wirex's off-chain system. Wirex's off-chain system, in turn, communicates with the processing oracle, which acts as a bridge between the blockchain and Wirex's existing card processing system integrated with Visa and Mastercard. The processing oracle then calls the smart contract on L2 to execute the transaction. This is instantly computed on L2 and verification of the changes is generated and verified on L1.
RPC on L1 & L2
We are also a proven RPC (Remote Procedure Call) provider with a robust track record. RPC providers act as intermediaries between the dApp and the blockchain, abstracting the complexities of network communication and providing developers with a convenient way to interact with the blockchain, much like a software library or service that facilitates communication between a dApp and a blockchain network, allowing developers to interact with the blockchain using programmable APIs.
Cost Efficiency and Scalability
This innovative solution enhances the network's transaction throughput, providing users with a seamless and efficient payment experience without disrupting the existing ecosystem. The implementation enables the seamless introduction of new features and optimizations, demonstrating a technical edge over solutions that may encounter challenges in maintaining upgradable contracts. Gateway remains at the forefront of innovation, particularly in exploring the utility of Polygon's Cloud Development Kit (CDK).
Implementation of Node Sales
We provided Wirex Pay Node Sale with a comprehensive Node as a Service (NaaS) solution through our NodeHub platform. This service simplifies the technical complexities of node distribution and operation, ensuring a seamless and user-friendly experience for node ownership. Key features of NodeHub include a structured distribution process with tiered options, a dedicated web interface for easy navigation, secure purchases and the use of NFTs to represent node licenses. These NFTs provide verifiable proof of ownership and transferability on secondary markets. This partnership empowers the Wirex Pay community to actively participate in network security and governance.
The Node Sales implementation deepenes our partnership with Wirex while strengthening the decentralization of Wirex Pay's infrastructure for a seamless and user-friendly node ownership experience.
Reflections on the Partnership
"e;We are thrilled to partner with Gateway.fm to enhance the scalability and efficiency of our Wirex Pay platform. It underscores our dedication to delivering cutting-edge, user-centric solutions. With Presto's capabilities, we are confident that Wirex Pay will continue to redefine the way people use digital assets in their everyday lives."e;
- Pavel Matveev, CEO & Co-founder, Wirex
"e;We're thrilled to partner with Wirex and expand the benefits of our Presto solution to over six million users across the world. The synergies between Gateway.fm and Wirex are clear - much like how we're abstracting the complexity of blockchain infrastructure, Wirex is simplifying the process of buying, selling, and spending digital assets. The compound effect of these missions will be huge for facilitating mainstream Web3 adoption."e;
- Cuautemoc Weber, Co-Founder and CEO, Gateway.fm
"e;This partnership gives expression to the power of private zkEVM roll-ups in terms of driving security, scalability, and cost efficiencies for important real-world use cases. By leveraging our Platform-as-a-Service Presto, Wirex's growing user base can now access streamlined blockchain-enhanced financial services, and we look forward to broadening the scope of this partnership in the months ahead."e;
- Igor Mandrigin, Co-Founder and CTO, Gateway.fm
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