Algorand x402 Settlement Count Increases 30-Fold in Just 5 Days

The daily settlement count of x402 based on Algorand (ALGO) has increased approximately 30 times from 1,300 to 40,600 in just five days. The cumulative transactions have reached about 177,000. This surge is related to the Algorand Foundation's 'Global x402 Challenge'. Participants must deploy paid API endpoints on the Algorand mainnet and validate and settle payments through GoPlausible facilitators to get their names on the leaderboard. The prize consists of $100,000 and 500,000 Algorand, with 10 out of the top 50 projects being considered for the finals. x402 is an HTTP-based payment protocol that Coinbase plans to unveil in May 2025, where the server sends a '402 Payment Required' response when a user accesses paid resources, and the client resends the request with a payment signature. The Algorand Foundation explained that the GoPlausible x402 facilitator supports the mainnets and testnets of Algorand, Base, and Solana, and is tailored for USD Coin settlements. The Linux Foundation announced the launch of the x402 Foundation's operations on July 14. This challenge requires the deployment of public HTTPS endpoints, the use of GoPlausible facilitators, and at least one actual mainnet payment, with the finals and winner announcement scheduled to take place at Devcon 8 in India in early November.

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