Chainlink Introduces Payment Abstraction to Reduce Network Payment Friction

According to Foresight News, Chainlink has officially launched Payment Abstraction on its mainnet, aiming to significantly reduce payment friction within the Chainlink network. This new feature allows users to pay for Chainlink services using alternative assets such as gas tokens and stablecoins. These assets are then automatically converted into LINK tokens through Chainlink Automation, price oracles, CCIP, and decentralized exchanges (DEX). Payment Abstraction is now in production, with an initial focus on converting network fees generated by Chainlink's Smart Value Recapture (SVR). This development is expected to streamline the payment process and enhance the overall efficiency of transactions within the Chainlink ecosystem.