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On-Chain Subscriptions

Subscriptions have become a key model for accessing services in both Web2 and Web3. Functor Network enables on-chain subscriptions, allowing users to automate recurring payments and access services across multiple blockchains in a secure, decentralized manner.

How On-Chain Subscriptions Work​

  • A user sets up a subscription through Functor, specifying the payment interval and the service they want to access.
  • Functor’s keystore manages the recurring transaction process, ensuring that payments are made automatically from the user’s wallet without needing manual approval each time.
  • Through session keys, Functor ensures that the subscription can only deduct funds based on predefined conditions, ensuring user control and security.

Why On-Chain Subscriptions Are Important​

  • Automation: Users no longer need to manually approve each payment, making it easier to access decentralized services.
  • Cross-Chain Capability: Subscriptions can be set up across multiple chains, allowing services that operate on different blockchains to be accessed seamlessly.
  • Security: Session keys provide a secure way for payments to be authorized without exposing full control over a wallet’s funds.

On-chain subscriptions simplify the process of recurring payments in decentralized ecosystems, making it easier for users and businesses to interact with decentralized services.