Accept Payment in Gold

PGN encourages merchant participation by providing a platform where businesses can accept gold as payment with ease and security. Merchants join the network and integrate the Phoenix Gold Spending Smart Contract into their payment systems, allowing them to accept Cyphers directly from customers. The payment process is straightforward for Cypher holders, who can spend their digital gold at participating merchants by simply transferring the specified amount of Cyphers to the merchant's wallet through the PGN platform.

The transaction is verified and processed by the smart contract, which confirms the transfer of Cyphers and ensures the merchant receives payment equivalent to the current value of the gold. This system not only benefits Cypher holders by providing them with a practical use for their digital gold but also offers merchants a new customer base and the advantages of dealing in an asset with inherent value.