New Delhi, May 30 (PTI) Autoscaling Layer 1 blockchain Shardeum on Friday announced its mission to power PayFi to support peer-to-peer, micro and macro payments.

The PayFi will target macro payments like remittances, global payroll, crowdfunding, e-commerce, and institutional settlements, Shardeum said in a statement, adding that the autoscaling blockchain aims to become the Internet's default payments layer.

Also Read | Sikkim State Lottery Result Today 6 PM Live: Dear Dasher Friday Lottery Result of May 30 2025 Declared Online, Watch Lucky Draw Winners List.

Micro Payments like AI-to-AI transactions, tipping, IoT payments, pay-per-use apps, and real-time bill splitting can be done at a significantly lower fee through the platform, Shardeum said.

"While blockchains like Bitcoin laid the foundation for decentralized payments, real-world adoption has been limited by high fees and technical constraints,” it added.

Also Read | Ahilyabai Holkar Jayanti 2025 Date in India: Who Was Rajmata Ahilyabai Holkar? What Is the Significance of This Day? All You Need To Know.

Shardeum's autoscaling architecture allows the network to expand based on real-time demand while transaction fees stay as low as $0.01 or less than Re 1. Shardeum launched its mainnet on May 5. PTI

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)