Hello! I'm Peter, the founder of Fiatsend with a background in decentralized finance and arbitrage. My experience in these fields inspired me to create Fiatsend—a platform designed to simplify the process of converting stablecoins to fiat. The goal of Fiatsend is to make cryptocurrency transactions as seamless as possible, particularly for the underbanked population in Africa.

The Challenge

Today, off-ramping cryptocurrency can be a daunting and complex process. Users often need to transfer their stablecoins to a centralized exchange, wait for confirmations, and engage in peer-to-peer (P2P) transactions. This involves multiple steps and can be stressful, especially for those new to the Web3 space. Moreover, in parts of Africa where mobile money is the predominant payment method, accessing traditional banking services is often a challenge.

Fiatsend's Solution

Fiatsend aims to address these challenges by offering a simple, one-click solution for off-ramping cryptocurrency. The platform allows users to convert their cryptocurrency to fiat with the ease of sending stablecoins from one wallet to another. This streamlined process eliminates the need for multiple steps and reduces the stress associated with off-ramping. By focusing on improving user experiences, Fiatsend aims to make cryptocurrency transactions accessible to everyone.

The Impact

The adoption of stablecoins has been remarkable, with over 1.1 billion transactions in Q2 of 2024. As stablecoins continue to grow, enhancing user experiences will be crucial. Fiatsend envisions a future where individuals and businesses can use on-chain payments to improve their daily lives. By making cryptocurrency transactions more accessible and straightforward, Fiatsend aims to empower users to take control of their finances and participate in the global economy.

Why It Matters

By addressing the core issue of off-ramping complexity, Fiatsend empowers users in regions where financial systems are unstable or inaccessible. The platform not only simplifies crypto-to-fiat transactions but also provides meaningful incentives to make the process cost-effective and rewarding

What's Next?

We are excited to launch our testnet campaign soon and invite you to be part of this revolution. Join us in simplifying off-ramping and making cryptocurrency accessible to everyone. Follow us on X @fiatsend and visit our https://fiatsend.com to stay updated and get involved.

https://mirror.xyz/pnokn.eth/rRSnKIDwTwiVNAuI1LvMyf0B9CFyJ_XA4lr6OyGS7Z8

Let’s get started right away by changing our IP to a static one:

Changing IP to static

• Go to VM instances and click on the name of your VM instance you want to change

• Click on edit and scroll down to external iPv4 address

• Select Reserve static IP address

• Add your specified tag (Keep that in mind); I used avail as tag

• Click on Save

Allow Acess to all IPs

1. In Google Cloud Console, go to "VPC network" and select "Firewall rules."

2. Click on "Create Firewall Rule."

• Give your rule a name.

• Set the "Source IP ranges" to 0.0.0.0/0 to allow traffic from any IP, add a tag which you added to your VM. eg: avail

*

• Set the "Allowed protocols and ports" to the specific protocols and ports your application requires (e.g., tcp:80 for HTTP).

• Click "Create" to save the rule.

Creating a PR on github

• Navigate to the avail listing repository and click on create new file:

• Generate your UUID with this UUID generator. Use that as your file name (UID.json):

https://www.uuidgenerator.net/version4

• Copy UUID

• Paste UUID as file name and paste this sample content in the file:

  {
    "name": "Hoodrun",
    "logo": "https://r.resimlink.com/qkPWGUVwSd1T.webp",
    "rpc_url": "http://206.189.8.43:9944",
    "explorer_url": "http://206.189.8.43:4000",
    "metrics_endpoint": "http://206.189.8.43:9615/metrics",
    "id": "f280baa2-7da6-4f6d-96fc-5b89008561d9"
  }
  

• Now start editing by copying your static IP and replacing with the existing IP. Don’t forget to paste your UUID as ID. You can upload and generate your image url with the link below:

https://imgbb.com/

• Now click commit changes and choose propose changes:

• Click on “create pull request” button

• Use same format in the image below and replace AppchainName with your appchain name

• 
  

• Now click create pull request and make sure it passes the checks and able to merge

THAT’s IT! YOU’VE COME TO A SUCCESSFUL END!!!!

https://mirror.xyz/pnokn.eth/bd1i3oCnv2HAUgZm16NJ8kzl0SIrzoNoQYEuSX5ArIw

Welcome to Part 2 - A simple guide to help you deploy your avail appchain:

Now that you’ve created your VM you can SSH into your terminal and install these dependencies:

Install git

Press Y when needed

sudo apt update && sudo apt upgrade -y
sudo apt-get install git-all
sudo apt-get install curl

Install Rust

curl --proto '=https' --tlsv1.2 -sSf https://sh.rustup.rs | sh

source "$HOME/.cargo/env"

Install Necessary Dependencies

sudo apt update
sudo apt upgrade
sudo apt install build-essential

sudo apt install pkg-config
sudo apt install libssl-dev
sudo apt install clang
sudo apt install protobuf-compiler

Install Docker

Docker installation guide for Ubuntu can be found here:

https://docs.docker.com/engine/install/ubuntu/

Run the following command to uninstall all conflicting packages:

for pkg in docker.io docker-doc docker-compose docker-compose-v2 podman-
docker containerd runc; do sudo apt-get remove $pkg; done

Set up Docker's apt repository.

# Add Docker's official GPG key:
sudo apt-get update
sudo apt-get install ca-certificates curl
sudo install -m 0755 -d /etc/apt/keyrings
sudo curl -fsSL https://download.docker.com/linux/ubuntu/gpg -o /etc/apt/keyrings/docker.asc
sudo chmod a+r /etc/apt/keyrings/docker.asc

# Add the repository to Apt sources:
echo \
  "deb [arch=$(dpkg --print-architecture) signed-by=/etc/apt/keyrings/docker.asc] https://download.docker.com/linux/ubuntu \
  $(. /etc/os-release && echo "$VERSION_CODENAME") stable" | \
  sudo tee /etc/apt/sources.list.d/docker.list > /dev/null
sudo apt-get update

To install the latest version, run:

sudo apt-get install docker-ce docker-ce-cli containerd.io docker-buildx-plugin docker-compose-plugin

Verify that the Docker Engine installation is successful by running the hello-world image.

sudo docker run hello-world

Install Madara CLI

Clone git repo

git clone https://github.com/karnotxyz/madara-cli

Cd into Madara CLI and run build

cd madara-cli
cargo build --release

Install Screen and start new screen session

sudo apt install screen
screen -S madara

Initialize your Appchain and get Avail Address

Press Y when needed for yes

./target/release/madara init

Fund your wallet here:

https://discord.com/invite/availproject

To access the faucet you need to verify that your gitcoin passport has a score of > 20. Click the link below to verify:

https://passport-verifier.avail.tools/

After verification you have access to the discord channel. Now go to #appchain-builders and click on Agree to get access to the faucet:

Request faucet from #goldberg-faucet channel with command:

/deposit-rollup <Avail Address>

Run the Appchain

./target/release/madara run

To detach screen whilst running in background press Ctrl + A + D

Open Ports

sudo apt install ufw
sudo ufw enable
sudo ufw allow ssh
sudo ufw allow 9944
sudo ufw allow 4000
sudo ufw allow 9615
sudo ufw allow 30333

Start explorer

./target/release/madara explorer

Record your IP and access explorer with your IP and port number:

http://YourIP:Port

https://docs.availproject.org/clash-of-nodes/madara-karnot/

Prerequisites

• Github Account

• Gitcoin passport score > 20

• Avail Wallet (Subwallet by Polkadot)

• VPS/ VM Instance (Google Cloud)

• Discord Account

Github

You can setup your github account by signing up at

https://github.com/signup

. Fill in the neccessary information to get started.

https://github.com/

Gitcoin passport:

In order to join the discord channel you need a gitcoin passport score above 20. Head to

https://passport.gitcoin.co/#/

• Connect you wallet by clicking sign in with Ethereum:

• Select a wallet preferably metamask (I chose Zeal in the image):

• Click on go to dashboard

• Complete all tasks to add stamp till you get a score of 20 and above

Avail Wallet

To set up your avail wallet head to:

https://www.subwallet.app/

• Click on extension and choose your browser

• Select your native browser (I chose brave browser since that it what I used). You will be redirected to your browser store to install the extension

VPS or VM instance (I used GCP)

I used google cloud as Virtual Machine instance but you can try other platforms like AWS.

Here’s the minimum specifications needed:

• 4 Core CPU

• 8GB RAM

• 160GB SSD

To get started with GCP, head to:

https://console.cloud.google.com/

• Set up your account for free $300 for 3 months if that’s your first time (You wont be charged until you activate a full account)

• Head to Compute Engine > VM instances

• 
  

• Click on create instance

• Enter the instance name of your choice or leave default. (No caps)

• Head to Machine type and click on custom tab:

  Choose 8vCPU (4 core) and 8 GB RAM (You can select higher for better efficiency)

• Check Allow HTTPS traffic and click on change under boot disk

• Choose the following under boot disk:

  OS: Ubuntu

  Version: Ubuntu 22.04 LTS (x86/64, amd64 focal image built on 2024-01-25)

  Boot disk type: SSD

  Size: 160 GB

• Click on Select after adding and click create to create your VM.

Discord Account

Head to:

https://discord.com/app

Since the launch of Bitcoin more than ten years ago, the blockchain and cryptocurrency industries have made incredible strides. Decentralized apps (DApps) may now run on Ethereum's blockchain thanks to the notion of smart contracts, which was pioneered by the cryptocurrency. The gas prices necessary for transaction execution are a continuous issue, nevertheless, that prevents the mainstream adoption of these DApps. Here, the idea of "Account Abstraction" enters the picture. By enabling gasless transactions, it seeks to transform how users interact with blockchain networks. This essay will examine account abstraction and how it might increase the accessibility and affordability of cryptocurrency transactions for all consumers.

Understanding Gas Fees

Before delving into account abstraction, it's crucial to comprehend the issue it aims to address: gas fees. Gas fees are the costs associated with executing transactions or smart contracts on blockchain networks like Ethereum. These fees serve several purposes, including compensating miners for securing the network and preventing spam attacks. However, they have become a significant barrier for many users, especially those with limited resources or those new to the world of cryptocurrencies.

The Challenge of Gas Fees

Depending on the transaction's intricacy and network congestion, gas prices on blockchain networks might vary greatly. Gas prices might soar during times of great demand, such as when a well-liked DApp opens or during a market frenzy, making straightforward transactions prohibitively expensive. Users that want to use DeFi protocols, NFT marketplaces, or other blockchain applications but are discouraged by the unpredictable nature and high cost of gas fees have a difficulty because of this.

Account Abstraction: A Solution to Gas Fees

By isolating the fee payer from the transaction sender, the idea of account abstraction aims to lessen the cost of gas taxes. The sender of a transaction pays the gas fees necessary for its execution in conventional blockchain systems. In an account abstraction system, the sender's fees may be paid by a third party or smart contract. This paradigm change has the following advantages:

1. Gasless Transactions: With account abstraction, users can make transactions without holding any native cryptocurrency (like Ether in Ethereum) to pay for gas. Instead, a third party, often a DApp developer, can subsidize or cover the gas costs, making transactions more accessible to a broader audience.

2. User-Friendly Experience: Account abstraction simplifies the user experience by eliminating the need to manage cryptocurrency for gas payments. This makes blockchain applications more user-friendly, especially for those who are new to the space.

3. Cost Predictability: Users can have more predictable and stable transaction costs, as the gas fees are determined and covered by the third party or smart contract.

4. Mass Adoption: By removing the gas barrier, account abstraction can open the door to mass adoption of decentralized applications and blockchain technology. Users no longer need to worry about the intricacies of gas fees, making it easier for them to engage with DApps.

Challenges and Considerations

While account abstraction offers promising solutions to the gas fee problem, it also presents some challenges and considerations:

1. Security: Account abstraction requires careful implementation to ensure that third parties cannot abuse the system for malicious purposes. Security measures must be robust to protect users' interests.

2. Decentralization: Critics argue that account abstraction could centralize control in the hands of a few entities or smart contracts that cover gas fees. Striking a balance between convenience and decentralization is crucial.

3. Economic Model: Developers must design sustainable economic models for subsidizing gas fees through account abstraction, ensuring that it remains economically viable over the long term.

Conclusion

Account abstraction holds the promise of making blockchain transactions more accessible and affordable for users by eliminating the need to manage gas fees. This innovation has the potential to unlock new possibilities for decentralized applications, ultimately paving the way for broader adoption of blockchain technology. However, as with any groundbreaking concept, careful development, security considerations, and community involvement will be essential to ensure that account abstraction serves the best interests of the cryptocurrency ecosystem and its users. With these challenges addressed, we can look forward to a future where gasless transactions become the norm, empowering users to engage with blockchain technology without the fear of prohibitive fees.