HIPS Merchant Protocol ( HMP ), Hips Merchant Protocol Gateway (HMP-gateway) and Merchant Token ( MTO ) is a solution that introduces consumer protection concepts from the traditional card payment industry to any blockchain with support for smart contracts such as Ethereum , Cardano (ADA) or Solana.

“We believe that the consumer-oriented features of the MTO are the missing piece for crypto payments to have market penetration and mass adoption among mainstream consumers,” says John Cavebring, CEO of Hips.

Merchant Token ( MTO ) is the native protocol token of the Hips Merchant Protocol ( HMP ), currently issued on Ethereum following the ERC-20 standard. HMP will hold the ERC20 tokens on the Ethereum blockchain as a start, but the protocol will work similarly on other supported blockchains like Cardano, among others.

“HIPS Merchant Blockchain is the native blockchain for HMP and Merchant Coin (MEO), which is the native block currency in Hips Merchant Blockchain, and is optimized for real-time business transactions created for Payment Service Providers (PSP) and EFTPOS devices, ”added Cavebring.

A widely adopted and fully on-chain Merchant Payment Protocol would need to have comparable transaction performance, such as US exchanges, such as the NYSE, of an underlying blockchain in order to scale.

“The near real-time transaction speeds of the HIPS Merchant Blockchain are a huge improvement to the current blockchain response. Hips Merchant Protocol is not only designed for Ethereum , but also on Solana, an incredibly fast public blockchain that can support more than 50,000 transactions per second, has lock times of 400 milliseconds, and a transaction cost of approximately $ 0.00001 ”, Cavebring points out.

With near-real-time transaction speeds, plus the Hips Merchant Blockchain is designed for business transactions regardless of whether they are mobile, in-store, or e-commerce, and utilizes the payment card industry exchange concept, HIPS provides a solution for crypto payments to be obtained worldwide. global consumer adoption.