Currency/exchange rate information API



Summary:

A Bitcoin developer, Luke Dashjr, has proposed a new standard for the exchange of fiat currency information in Bitcoin Knots. Currently, Electrum has multiple implementations for exchange rate providers due to the lack of a common format. The draft aims to standardize this process, allowing wallets and exchange rate providers to interoperably exchange currency information without much overhead. However, one issue with the proposal is the use of XBT instead of satoshis for Bitcoin amounts. There is no pseudo-ISO currency code that fits well with satoshis. Kalle, a commentator on the mailing list, suggests that locale information should not be included in the server's opinions, but rather determined by the user's environment. This is because all currencies including USD are often shown in different ways depending on the user's locale. Luke's draft can be found on GitHub.


Updated on: 2023-06-11T21:58:54.130411+00:00