Author: John Bailon 2015-09-15 12:56:27
Published on: 2015-09-15T12:56:27+00:00
The proposal of a BIP for a standard URI scheme to allow wallet operators who implement instant exchange or pegging to other currencies, cryptocurrencies or asset classes, has been made. 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 would present a wallet address with parameters such as currency, rate, and expires. This allows the sending wallet the ability 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 USD to XAU rate, the amount of XAU that will be received by the address, and how long before the rates expire. The intermediate currency used in this payment rails method is BTC.
Updated on: 2023-06-10T22:33:01.285535+00:00