Author: Sjors Provoost 2017-12-21 09:04:44
Published on: 2017-12-21T09:04:44+00:00
The COX protocol does not require adoption by exchanges, as an adapter service could be used to translate it to the exchange's proprietary API. However, using an adapter could create additional risks depending on API key permissions and merchant infrastructure. The proposal suggests adding an invoice mechanism similar to Lightning, where a pre-image is sent to the user's wallet upon receipt of funds, which can be presented to the merchant in case of any issues. This could alleviate the burden of dealing with user support requests from exchanges. The protocol could be expanded for Lightning and include a callback from the exchange to confirm payment. Overall, the proposal aims to simplify the payment process and reduce potential risks for merchants.
Updated on: 2023-06-12T23:13:58.648906+00:00