Author: John Bailon 2015-09-15 11:10:54
Published on: 2015-09-15T11:10:54+00:00
The proposal is for a BIP to create a standard URI scheme that would allow wallet operators to implement instant exchange or pegging to other currencies, cryptocurrencies or asset classes. The idea is to include in the wallet address as parameters information that supplements the presentation of a proposed transaction. For example, a wallet operator that instantly exchanges bitcoin to gold could present a wallet address with encoded parameters such as currency, rate, and timestamp of when the rate loses validity. This would allow the sending wallet to present up-to-date exchange rates. When a wallet operator that pegs to the USD scans the address, it would be able to present the user with information regarding the USD to XAU rate, how much XAU will be received by the address, and how long before the rates expire.
Updated on: 2023-06-10T22:33:08.420270+00:00