Cryptocurrency payment gateways like NOWPayments thrive on the ability to handle fast, secure, and reliable transactions across multiple blockchains. Managing nodes for over 300 cryptocurrencies in-house is no easy task, and without the right infrastructure, things can get expensive, inefficient, and potentially risky. This is where the decision to partner with NOWNodes, a blockchain-as-a-service provider, became a game-changer for NOWPayments.
The Cost of Not Using NOWNodes
If NOWPayments had decided to forgo a partnership with NOWNodes, the cost of managing their own blockchain nodes would have skyrocketed. Running a node requires significant capital investment in servers, software, and ongoing maintenance. Each node needs to be managed continuously, updated to the latest versions of blockchain protocols, and kept secure from potential cyber threats. Moreover, as the blockchain ecosystem expands, NOWPayments would have had to constantly scale its infrastructure, which requires both financial and technical resources.
This would have also demanded a team of dedicated blockchain engineers, making the operational overhead much higher. Moreover, maintaining nodes for every supported blockchain would introduce complexities, slowing down the company’s ability to quickly integrate new cryptocurrencies into its platform.
Transaction Delays and Lost Business
Without a high-quality node provider like NOWNodes, NOWPayments would have faced delays in processing transactions. Fast access to real-time blockchain data is essential for ensuring that transactions are validated and confirmed promptly. Customers and merchants expect seamless payment experiences, and any delay could lead to abandoned purchases, lost business, and frustrated users.
For a company that prides itself on low transaction fees and quick settlement times, these delays would have had serious consequences for reputation and user retention.
Increased Security Risks
Security is always a priority when handling cryptocurrency payments. If NOWPayments were to manage its own nodes, it would assume all responsibility for securing those nodes against hacks, attacks, and technical failures. This would create a large attack surface, making the platform more vulnerable. However, by partnering with NOWNodes, NOWPayments benefits from a professionally managed and secure infrastructure with built-in safeguards, reducing the risk of node-related security breaches.
The Benefits NOWPayments Gained with NOWNodes
By integrating NOWNodes, NOWPayments gained significant advantages:
1. Cost Efficiency
NOWNodes eliminates the need for NOWPayments to set up, maintain, and secure its own nodes. This significantly reduces both capital and operational expenses. NOWPayments can now focus on its core mission—offering flexible and scalable crypto payments to merchants—without worrying about the underlying blockchain infrastructure.
2. Faster Transaction Processing
With NOWNodes providing reliable, real-time access to over 60 blockchains, NOWPayments can ensure fast and efficient transaction processing. This quick access to blockchain data enables merchants to confirm payments faster, improving customer satisfaction and trust in the platform.
3. Scalability and Flexibility
NOWNodes makes it easy for NOWPayments to scale its services by adding new blockchains without needing additional infrastructure. This flexibility allows the company to stay competitive in the ever-evolving crypto market, providing merchants with access to the latest and most popular digital currencies.
4. Enhanced Security
NOWNodes provides robust security measures for blockchain access, minimizing the risks of downtime or cyberattacks. NOWPayments can rely on NOWNodes’ expertise to keep their operations secure, which is critical in the crypto industry where trust and reliability are paramount.
Conclusion: A Smarter Choice for Growth
The decision to partner with NOWNodes has allowed NOWPayments to focus on what it does best—enabling merchants to accept cryptocurrency easily and securely. By reducing costs, improving transaction speed, and ensuring security, NOWPayments is well-positioned to lead the market in crypto payment solutions. In a rapidly changing industry, choosing the right partners makes all the difference, and with NOWNodes, NOWPayments is future-proofing its business for the long term.
For merchants and customers alike, this partnership ensures that NOWPayments will continue to deliver fast, reliable, and secure cryptocurrency transactions, helping businesses thrive in the digital economy.