Every week, important news erupt from the cryptocurrency space that usually have a lasting impact on the rest of the decentralized economy landscape. This time, it comes from the e-commerce and blockchain based platform ARAW who has announced a partnership with Credits.
The ARAW token ecosystem offers e-commerce and payment gateway solutions for merchants and customers thanks to their digital currency the ARAW token. The central piece of the platform is the ARAW marketplace, where merchants are able to advertise and sell their products, as well as reward shoppers for their business, thanks to the unified rewards system.
In order to understand why this partnership announcement is big for the crypto space, we need to explain what Credits is. Credits is a blockchain-based platform that acts similarly to the Ethereum Blockchain and enables decentralized applications, as well as smart contracts to run on its network. In addition, the platform facilitates micropayments and increases considerably the number of transactions that can be made per second compared to existing decentralized ledgers. Therefore, it empowers users as they are able to pay for goods and services and transfer funds at a very fast pace and a very low price.
How will the partnership work?
The ARAW token ecosystem will truly benefit from the Credits platform and network. Simply put, the transactions, such as payments between customers and merchants, participation in the unified reward system and more, will occur on the Credits platform instead of the Ethereum blockchain. The ARAW customers, both retailers and shoppers will, therefore, enjoy faster and cheaper transactions, increased fluidity of their assets with ARAW tokens and a seamless and frictionless experience on the ARAW marketplace. This partnership will be very positive for all the parties involved.
ARAW is a company that we, at CryptoAnalyst, fully supports as we really believe in their ability to disrupt the e-commerce and payments industry thanks to the blockchain technology and cryptocurrencies. We are looking forward to this newly announced partnership between the two crypto and blockchain actors!
TLDR: ARAW, a big actor in the digital currency and e-commerce space, has recently announced that they are partnering with Credits. Credits is a blockchain-based platform that allows for extremely fast and cheap transactions, and decentralized applications to run on its network.
**full disclosure** Our CEO is an advisor to the Araw ICO