Solana Pay is a standard protocol and set of reference implementations that enable developers to incorporate decentralized payments into their apps and services.
Read the specification.
The Solana blockchain confirms transactions in less than a second and costs on average $0.0005, providing users a seamless experience with no intermediaries.
Read the docs to get started.
Supporting Wallets
How to use Solana Pay
Accept payments in your web app
Use the @solana/pay JavaScript SDK to start accepting payments in your app today.
Accept payments in person
Run the open-source Solana Pay Point of Sale app to start accepting payments in-person.
Getting Involved
Solana Pay is an open standard to facilitate commerce on Solana. We are looking for more contributors to help develop the ecosystem. Here are a few ideas if you're looking to get involved.
Hackathon Projects
The Solana Grizzlython Hackathon is happening right now. There's a dedicated Payments track, presented by Stripe.
Here are some Solana Pay hackathon ideas to get started thinking about how you can build the future of payments.
eCommerce Platform Integrations
To get as many merchants accepting payments on Solana as possible we need to provide easy ways to set up Solana Pay on all eCommerce platforms.
Solana Labs has started a reference implementation for Shopify which you can see here to get a sense of how this might work.
Here are some of the top eCommerce platforms that we're looking to integrate to:
- WooCommerce
- Magento
- BigCommerce
- Wix
- Squarespace
Other possible projects
- Mobile SDKs
- Checkout UX Components
Do you have another idea? Feel free to open an issue to discuss it with the community.
License
Solana Pay is open source and available under the Apache License, Version 2.0. See the LICENSE file for more info.
FAQs
Solana offers some of the cheapest transaction fees in the cryptocurrency market, typically costing between $0.003 and $0.030.
Why is Solana transaction failing? ›
The vast majority of these failed transactions are sent by bots — prototypical extension-based wallet flows would simulate transactions ahead of time before submitting to the chain, whereas a bot is more likely to send the transaction without verifying the execution,” Wong said in a message.
How long is the wait time for Solana? ›
Table 1: Blockchain confirmation time in blocks and seconds/minutes
| Blockchain | Blocks until confirmation* | Approximate time |
|---|
| Solana (USDC) | 1 | ~0.4 seconds |
| Avalance (USDC, EUROC) | 1 | ~2 seconds |
| Flow (USDC) | 1 | ~2.5 seconds |
| Algorand (USDC) | 1 | ~5 seconds |
5 more rowsSolana is renowned for its user experience and fast transaction speeds, with settlement times within a 10 seconds on average. Solana's speed makes it an enticing option not only for sending money but also for transacting seamlessly on decentralized applications.
How much of Solana fees are burned? ›
Transaction fees are partially burned and the remaining fees are collected by the validator that produced the block that the corresponding transactions were included in. Specifically, 50% are burned and 50% percent are distributed to the validator that produced the block.
How much is Solana transaction fee in dollars? ›
Solana can process as many as 50,000 transactions per second (TPS), and its average cost per transaction is $0.00025.
What is the success rate of Solana transactions? ›
Digging in Solana. Solana has around 75–80% Transaction success rate (TSR), which means around 20–25% of transactions fail daily.
What is the downfall of Solana? ›
With the cryptocurrency market in free fall, the industry's so-called alt-coins are experiencing the sharpest drops.
What are the dangers of Solana? ›
Protocol security risks (low): With native SOL staking, you only face the risk associated with Solana itself. In the event of a staking mechanism failure, the SOL ecosystem itself may be negatively impacted. Similarly, by being a part of that ecosystem without staking, you are exposed to a comparable level of risk.
Why is my Solana transaction taking so long? ›
There are a few potential reasons why your transactions might be taking longer than expected: Network Congestion: Even though you're setting a priority fee, if the network is congested, it can still take time for your transaction to be processed.
Solana's fee priority system allows you to set an additional fee on top of the base fee for a transaction, which gives your transaction a higher priority in the leader's queue. By bidding more for priority status, your transaction will be more likely to be confirmed quickly by the network.
Can Solana reach $1000? ›
Can SOL reach $1000? Considering Solana's total supply of 569,041,570 SOL, for the cryptocurrency to reach a price of $US1000 per SOL, its market capitalisation would need to surpass $US569 billion.
Can you cash out Solana? ›
After you sell your Solana using Kraken, you can use our flexible funding options to withdraw your cash to your bank account in as little as 0-5 business days.
How quickly does it take the Solana pay protocol to process a transaction globally? ›
Solana's Lightning Speed
It starts with the blockchain's unique Proof of History (PoH) consensus and the incredibly lightweight Proof of Stake (PoS) finality. It allows Solana to process over 50,000 transactions per second (TPS) with 400ms block times. Ethereum relies solely on PoS, confirming blocks every 13 seconds.
How long does it take to get money out of Solana? ›
One epoch in the SOL network lasts around 2-3 days. It takes one full epoch to deactivate your SOL delegation - once finished you will be able to withdraw it.
How to calculate Solana transaction fee? ›
The total fee for a transaction is calculated by multiplying the number of compute units required for the transaction by the current compute unit price, along with any applicable base fees. Compute Unit Limit: This refers to the maximum number of compute units that a single transaction can consume.
What is the transaction fee mechanism of Solana? ›
Solana's fee system consists of two components: the base fee and the priority fee. Broadly, each fee component ideally serves the following purpose: Base fees: right to utilize the network's resources. Priority fees: determine the order in a leader's transaction queue.
What is the fee market in Solana? ›
Fee markets emerged as a mechanism for miners to prioritize transactions based on the offered fee, ensuring network resources were utilized efficiently. This foundational concept has since evolved, finding applications in notable blockchains like Ethereum and Solana.
What is the fixed fee for Solana? ›
Transaction Fees
The base fee is fixed per signature at 5000 lamports (0.000005 SOL, $0.0003 at $60/SOL) per signature; the vast majority of Solana transactions have one signature. The optional priority fee is specified in the transaction, and is denominated in microlamports per CU requested.
