Ethereum ushered in a new era of blockchain-driven innovation and automation. However, smart contracts enabling trustless execution on a transparent base layer is an innovation that's less than a decade old. Attractive differentiating features from traditional solutions include global access, flexibility, and most importantly, elimination of intermediaries.

DeFi has blossomed to influence almost every facet of crypto and blockchain. At the same time, the number of dispensing protocols has been on an upward trajectory as more smart contracting platforms, offering better value propositions than Ethereum, sprout. 

For context, there are more than 19k cryptocurrencies, according to coin trackers. They leverage the blockchain to release exciting protocols that not only resolve painpoints but also improve efficiency.

What is Streamflow?

The Solana Foundation-backed Streamflow is deploying on the highly scalable, secure, and performant Solana network. Their primary objective is to ease payment challenges facing innovators and individuals behind high-power dApps in the thriving Solana ecosystem. 

Hundreds of dApps deploy on Solana with a cumulative market cap of over $100 billion. However, as the Streamflow team discovers, there is no crypto native token distribution product on Solana. 

Furthermore, existing solutions on competing layers like Ethereum are expensive. Moreover, while Solana is expansive, there are no multi-sign solutions, nor are there event-based token unlocking products in this active platform.

Spearheading innovation and Automation of Payment in Solana

The Streamflow platform releases a variety of secure token vesting and payment tools. These assist Solana projects to quickly and conveniently vest tokens, distribute tokens to team members when paying salaries, and securely store assets. These resources, the team reckon, are essential for creating highly organized and functional crypto organizations. 

Streamflow's solutions are well-received, reading from the total value locked (TVL) of the over 90 different digital assets under its smart contracts management. Meanwhile, there have been over 2,500 streams created by clients since launching.

How to Create Streams in Streamflow

Streams are secure, efficient, and ideal for payroll management. Streamflow's streams are highly adaptive and fitted with configurable features. The recently released automatic withdrawal tool offers tons of benefits to the employer and the employee, saving time and resources. 

To get started with streams, a user needs a compatible decentralized wallet--like Sollet, Phantom, Solfare, and Slope--, funds, and the recipient's wallet address. All stream records are immutably recorded on the blockchain for provenance while the recipient earns funds in real-time.

First, a user needs to visit Streamflow at "app.streamflow.finance" and connect to the dApp using their wallet. Streamflow recommends that users have at least 0.02 SOL in their account to cater to on-chain transaction fees. After joining, a user must switch to the "Streams Page" to create payroll. The next step is to specify the number of tokens you want to lock. There is an option of topping up a live stream. A user can also set the number of times one would send funds to the recipient down from one second, minute, weekly, or even monthly and indicate the start time or date. 

In the next step, one can label the stream's name, input the recipient's token address, and automate withdrawals by toggling to "automatic withdrawals". The benefit of automatic withdrawal is that the user needs not to connect to Streamflow to approve payments. The receiver will continue receiving funds depending on the frequency set. 

The last step is to create authorization, giving the sender or recipient power to transfer the stream, including an option to pay referees. Afterward, the user can create a stream. Streamflow also has a stream management feature that allows for cancellation of payroll stream, fund top-up, or changing of recipient's deposit address.

Driving Crypto Payment Adoption

Streamflow is aptly demonstrating that DeFi and blockchain-led solutions are never at stasis. They are constantly innovating to release fitting and adaptive solutions for businesses and individuals, highlighting the benefits of crypto and driving adoption.