• Alty, a social messaging wallet, has switched from Ethereum to Algorand

  • Alty, the one-click crypto wallet for WhatsApp and Telegram, has migrated its platform from Ethereum to the Algorand blockchain network, allowing for instant and gasless crypto transactions in-chat.

    On Tuesday, October 12, Alogrand announced the news to the public in a press release. According to the announcement, with this migration, Whatsapp and Telegram users will be able to send and receive Algorand’s native coin ALGO as well as other tokens based on the Algorand token standard ASA simply by using their chat apps.

    Alty is a one-click social messaging platform-agnostic wallet that allows Whatsapp and Telegram users to make in-chat cryptocurrency transactions and micropayments. It allows users to transact on the Bitcoin, Ethereum, and now Algorand blockchains by connecting their digital wallets to their phone numbers through automation.

    Alty’s flagship product is the Alty Chatbot, which allows users to command real-time market prices for digital assets, receive up-to-date news feeds and market information, and send tips to other users in group-chat environments.

    Alty allows users to create wallets in seconds, send and receive cryptocurrency to a phone number with a simple command, and avoid saving long addresses. The Alty Crypto Spider bot keeps users up to date on the latest news and updates from the cryptocurrency market. Users can use Alty wallet to hold and exchange any ERC20 and ASA token on the fly, with no need to look at market statistics and no fees.

    Alty also announced that it has recently closed a $1,500,000 seed round led by Borderless Capital to further enhance the capabilities of its platform.

    The decision to migrate to the Alogrand blockchain was made due to the scalability issues and high costs of Ethereum and Bitcoin. “With increasing numbers of microtransactions per day between community members,” Alty says, “it became clear that a more scalable solution was required to reduce friction to as close to zero as possible.” Alty claims that with the Algorand blockchain, in-chat transactions and micropayments will be instant and virtually feeless.

    Alty’s CEO, Liran Peretz, stated:

    “We are thrilled to have collaborated with the most forward-thinking organization in the cryptocurrency industry.” “We’ve just upgraded all of the Alty tools that influencers use to manage and monetize their communities, and we’ve seen an increase in user engagement and wallet transactions overnight.”

    Alty has also partnered with the Foundation for Interwallet Operability (FIO), an industry consortium comprised of leading wallets, exchanges, crypto payment processors, and various other entities, to bring much-needed interoperability to its platform, offering a protocol that “eliminates the need to see, or even know about, blockchain public addresses.” Alty uses FIO to replace blockchain wallet addresses with nicknames to make in-chat transactions easier.

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