Time is money, absolutely no doubt about it. However, a new protocol has made this concept even more literal, making to stream money be just as possible as you can stream music or videos on the internet. Sablier, the protocol’s name, has revolutionized the way of sharing money online using blockchain as a background.
How Does Sablier Work?
Thus video explains how does Sablier work in motion!
Sablier is a protocol for real-time finance. Using an interesting and user-friendly interface, Sablier uses Ethereum as an operations background to perform value streaming in real-time. It is not difficult to predict that, over time, with the popularization of blockchain and DeFi, even big players like PayPal will keep an eye wide open about similar technologies using P2P protocols.
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How Can I Use Sablier?
Any average blockchain user who has an Ethereum wallet, a little ETH, or any ER-20 token (oToken) can start using the service immediately. Users can have access through one of the many interfaces of the Sablier protocol.
Further reading: Connext Network: Next Step For DeFi Accessibility
Then the user will fill the recipient’s address, the lock-up, and the duration. It is also possible to interact directly with smart contracts, with specific info about them being openly available.
Can I Trust The Platform?
Ethereum smart contracts have been used in DeFi operations for some time now, mainly for the safety and privacy of users. According to the team behind the project, Sablier’s main concern is to create a protocol that is secure and reliable at the same time.
All smart contracts can be personally verified by users, in an operation as transparent as can be.
Additionally, Sablier provides insurance and optionality. How does it work? Sablier makes the passage of time itself the trust-binding mechanism. Sounds quite good, right?
How The Idea Became A Reality
The protagonist behind the idea is none other than Paul Razvan Berg, who was part of the well-known Aztec Protocol.
Paul’s story joins the blockchain story in 2017 when the Bull Market episode caused him to start looking for more and more information on the matter. This search for specific knowledge led him to become a fanatic for Ethereum and smart contracts.
Using the money from a delayed paycheck, Berg, who was part of a crypto startup, had the big idea after asking himself a question: “why do we have to use these legacy payment systems, when we can use smart contracts that can be as fast as real-time? “.
Once again, history repeats itself: big questions start big ideas.
What Is The General Impact Of The New Protocol?
Sablier is the first Ethereum-based project that has implemented a money streaming protocol, 100% production-ready for users, all of which is made available in an easy-to-adapt interface, even for beginners.
Currently, Sablier is used mainly by freelancers and internet professionals, however, the team intends to further expand the use of the protocol to more people.
Sablier brings an innovative and interesting project. In the era of streaming, why not stream money online? This is the question answered by the new protocol, which uses Ethereum based smart contracts to perform real-time money streaming.
Despite being new, the project already caused some impact on the blockchain scene and can be used easily, just requiring an Ethereum wallet and internet access. Sablier is compatible with ERC-20 tokens only, such as DAI or USDC.