Solana is a fast, cheap, and reliable blockchain network. You can transfer assets worth millions of dollars in seconds to another part of the world. And you'll pay only a fraction of a penny in fees!
This technology is revolutionary, and finance is not the only thing you can do on it with such efficiency. People are doing lots of cool stuff on this network, like running DAOs or building games with experiences different from what we had before blockchain.
When it comes to finance and money, one of the key differences between traditional banking systems and blockchain (Solana in particular) is speed. Traditional banking systems are slow if you want to send money overseas, and if it's a large sum, you’ll have to pay high fees. The trade-off is security because the bank will double-check the transfer details before sending it. If you make a mistake, like entering the wrong account number, and that number doesn’t belong to anyone, the bank won’t process the transfer, and the money will return to your account.
Using Solana, on the other hand, is much faster and cheaper. You can send assets worth thousands of dollars in seconds—literally seconds—but there’s a catch: once you sign the transaction and send it to the network, there's no way to reverse it. No one can undo it, ever! This is good for network security, but if you accidentally enter the wrong address, it’s a problem for you.
If you change even one letter in the address (which is around 32-44 characters long), you could lose access to those assets forever. There’s a chance that the funds might end up in an account that no one owns—and probably never will. That’s why people are often hesitant to send large amounts of assets over the network.
This is where my program, Solana Safe Transfer, comes into play. It requires you to enter the recipient's address as well as a unique confirmation code associated with that address. If there are any mistakes in either of these strings, the transfer will fail, and your assets will remain in your account.
How It Works
Get a Confirmation Code
To get a confirmation code that you can share with others for sending you money, go to the Program website. There, click the Get a Confirmation Code button, and sign a light transaction that will create a confirmation account for you and generate a random code for the wallet you're using. After that, you can copy the code and share it with anyone who wants to transfer funds to you.
Transferring Assets
To send assets, visit the same Program website. From there, you can enter the amount of SOL you want to send, provide the recipient's address, and their confirmation code, then hit send. Right now, the program supports sending SOL, but I’ll be adding support for other SPL tokens as well as NFTs soon.
Feel free to share any feedback you have, or let me know what features you’d like me to work on next. If you want to get involved and help, please be my guest—here is the repo.
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