SubsCrypt

SubsCrypt: Revolutionizing Blockchain Subscription Management

Seamless Experience in Web2 Translated to Blockchain

In the Web2 environment, subscription services like Netflix offer seamless experiences with automatic monthly deductions. SubsCrypt brings this effortless subscription model to the blockchain, allowing users to enjoy uninterrupted services.

Simplified Service Registration and User Subscription

• Service Providers: Easily register services by setting the subscription price and renewal period.
• Users: Subscribe to these services with just one transaction, streamlining the process.

Flexible and User-Controlled Subscription Mechanism

• Automated Deductions: Post-subscription, the correct amount is auto-deducted from the user's wallet based on the renewal period.
• Customizable Renewal Periods: The contract imposes no restriction on what the renewal period should be. It can be anything from 10 secons to 10 years.
• User Empowerment: Subscribers can deactivate their subscription at any time from the SubsCrypt dashboard, stopping further deductions until reactivation.

Two Modes of Fund Debiting

1. Provider Initiated: Provider can see the amount available to collect for their services on the dashboard and withdraw. The provider covers the gas cost in this case and SubsCrypt charges no fee.
2. Admin Initiated (SubsCrypt): Offers an automated deduction option with a minimal 1% charge for gas costs.

Real-Time Financial Dashboard for Providers

• Instant Overview: Providers can view the amount available for collection at any time.
• Efficient Withdrawals: Providers can withdraw available funds in a single transaction.

Conclusion

SubsCrypt is a step forward in adapting the simplicity and automation of Web2 subscription models for blockchain, offering an intuitive, secure, and flexible system for both service providers and users.

Links

• https://github.com/ashwinarora/SubsCryptContracts
• https://github.com/ashwinarora/SubsCryptDapp
• https://subs-crypt-dapp.vercel.app/
• https://github.com/ashwinarora/SubsCryptSDK

Developing a Pull-Based Subscription System

The core challenge in designing SubsCrypt was to avoid Push-based system to a more user-friendly Pull-based subscription model.

Understanding User Needs for Seamless Subscriptions

• User Preference: Recognizing that users prefer not to manually renew subscriptions to ensure uninterrupted service.

Innovative Dual-Option Solution

• Provider Pull Option: Allowing service providers to pull subscription fees directly, maintaining service continuity.
• Admin Pull Option (SubsCrypt): Offering an alternative where SubsCrypt admin can pull the funds, adding flexibility and ease for users.

This approach ensures that users enjoy seamless, uninterrupted access to services, while providing a secure and efficient payment system.