Crypto Payment Start-Up Set To Offer 'Lightning Fast' Transactions

The company says "Lightning Network technology" will bring the processing times of crypto transactions in line with fiat payments while keeping costs down.

According to Korona, its ecosystem heralds the start of "Crypto Economy 2.0," ending a current impasse where the public and the business community are uninformed about Blockchain's advantages.

Korona hopes to build a "Necessary link" between eCommerce stores and crypto payments by offering a digital payment platform that can be easily integrated into existing systems used by online retailers.

Korona plans to provide such retailers with a "Modern, freely accessible and usable web store platform frame" to help get their online offering off the ground, along with the IT support they need.

This service would be provided for free on the proviso that they accept Korona tokens as a form of payment.

This payment system would be coupled with the Korona Market - a place where shoppers can buy a "Wide range" of goods and services using cryptocurrency.

In reaction to this, Korona plans to launch a price comparison engine which exposes these discrepancies - enabling shoppers to make significant savings even after tax, duty and shipping fees are accounted for.

From launch, the company says Korona Coin holders will be able to buy items from three European member states - with pet shops, grocers, breweries and barbers among early adopters.

"Lightning fast payments" Korona is creating crypto wallets for Windows, Mac OS and Linux - along with a system for smartphones so shoppers can use Korona Coin to buy goods in physical stores.

Korona plans to set aside 10 percent of tokens as a "Flexibility reserve mechanism" - reducing any short-term volatility in its cryptocurrency which could cause uncertainty for those hoping to use its coins on a daily basis.