Blockchain Payments vs Centralized Payment Systems

Developers should learn blockchain payments to build applications in fintech, decentralized finance (DeFi), and supply chain management, where trustless and efficient transactions are critical meets developers should learn about centralized payment systems when building applications that involve financial transactions, such as e-commerce sites, subscription services, or banking apps, to ensure secure and compliant payment handling. Here's our take.

Blockchain Payments

Nice Pick

Developers should learn blockchain payments to build applications in fintech, decentralized finance (DeFi), and supply chain management, where trustless and efficient transactions are critical

Pros

• Use cases include creating payment gateways for cryptocurrencies, implementing smart contract-based escrow services, and developing solutions for low-cost international remittances
• Related to: smart-contracts, cryptocurrency

Cons

• Specific tradeoffs depend on your use case

Centralized Payment Systems

Developers should learn about centralized payment systems when building applications that involve financial transactions, such as e-commerce sites, subscription services, or banking apps, to ensure secure and compliant payment handling

Pros

• They are essential for integrating with established payment gateways like Stripe or PayPal, managing fraud detection, and adhering to regulatory standards like PCI DSS
• Related to: payment-gateway-integration, pci-compliance

Cons

• Specific tradeoffs depend on your use case

The Verdict

These tools serve different purposes. Blockchain Payments is a concept while Centralized Payment Systems is a platform. We picked Blockchain Payments based on overall popularity, but your choice depends on what you're building.

The Bottom Line

Blockchain Payments wins

Based on overall popularity. Blockchain Payments is more widely used, but Centralized Payment Systems excels in its own space.