Author: ee at cypherpunk.org 2019-11-12 15:02:09
Published on: 2019-11-12T15:02:09+00:00
A proposal has been made for a new payment protocol that is not tied to a specific blockchain and can be used with either fiat or cryptocurrency. The proposed protocol includes the ability to make multiple payments and use multiple currencies in a single transaction, as well as allowing payment in one currency while referencing the value from another currency. The protocol also allows for fees to be paid by either the sender or recipient, with common trusted third parties calculating valuation and fees. The proposal aims to create a single payment system for wallet developers working with multiple currencies and increase support for a single protocol across various currencies and blockchains. The author acknowledges that some may oppose the proposal due to its support of other coins, but emphasizes that it should be considered based on its potential to improve functionality for Bitcoin and increase support for a universal payment protocol. While future sections on smart contracts and private communications are planned, the focus of this proposal is on payments and maintaining functionality for everyone regardless of blockchain. The goal is to eventually transform the proposal into a BIP, but constructive criticism and feedback are requested before moving forward.
Updated on: 2023-05-20T21:07:36.142870+00:00