Towards a singular payment protocol



Summary:

The proposal to merge cryptocurrency URI schemes is being discussed in response to concerns raised by Ben Dewaal. Although there are existing standards, they are not fully implemented in any wallet, and therefore multiple schemes need to be maintained, making it difficult for developers to keep track. The idea is to merge the major proposed standards into a single standard, which will allow efforts to be focused on a single protocol. This is seen as an opportunity to drop what is not working from existing schemes and move forward with a unified system. In response to concerns about the future-proof nature of these schemes, it is noted that this is just the basis of a larger system, which would build more complex payment systems with more advanced features, thereby reducing the number of attributes necessary. There could also be different levels of support for this proposal, like 'pay: simple' or 'pay: multi' that supports different types of payments.Finally, there are concerns about defining attributes and ensuring that software interprets them correctly. However, it is suggested that if there are things that are difficult to interpret, then they can be fixed before standardizing. A well-written spec should be able to foresee issues of conflict and design around them. The end-goal would be that wallets and payment systems would fully support this standard, and be able to say something like 'pay:' supported.


Updated on: 2023-06-13T22:14:59.245081+00:00