Yenom Developers Propose a New BCH Payment Protocol
The developers who created the Bitcoin Cash-centric wallet Yenom have revealed the team has been working on an interesting protocol for the BCH ecosystem. On Oct. 21, Yenom developer Shun Usami published a wallet scheme called the Deep Link Payment Protocol, a communication system that allows users the ability to simply click a link on a website to pay for a product in bitcoin cash. Also read: Markets Update: A Narrowing Range of Consolidation and Lower Trade Volumes
The Deep Link Payment ProtocolYenom developers Shun Usami, Taiki Uchida and Aoi Serikawa have proposed a new wallet scheme for the global Bitcoin Cash network. The proposal called the Deep Link Payment Protocol (DLPP) is a deep link scheme system tethered to a wallet application with a callback URL. The concept is similar to the BIP21 (URI scheme), a URI formula that allows users to pay for products by simply clicking a link. In essence, the deep link scheme proposed by the Yenom programmers offers a communications equivalent between the wallet and other applications. “When the wallet application completes the requested behavior, the wallet pings the callback URL,” explains Usami’s proposal.
Other Examples of Payment Protocols Indicate Far Less Room for ErrorThe DLPP specifications detail that the current experience with mobile wallets is not user-friendly and cryptocurrency payments take far more steps than they should. For instance, traditionally cryptocurrency wallet owners have to copy the address, open the wallet, paste the address, type the precise amount, and then authorize the payment. With the DLPP scheme, the payment link is opened inside the wallet software, and all the user has to do is confirm the payment. The Yenom developers believe the protocol is simple and an alternative design method similar to BIP70 could also be used. An instance of this method being used in the wild is Bitpay’s payment protocol (a version of BIP 70, 71 and 72), and Bitpay recently emphasized the method has led to far better efficiency. Additionally, the Yenom programmers explain the protocol specifications allow forward compatibility. “Adding optional parameters can be done by simply adding them — Adding required parameters or a destructive change can be done by simply changing the type name to new one,” the DLPP scheme details. As long as the mobile clients don’t act on a URL callback without consent from the wallet owner, the protocol can essentially remove three of five steps that are usually required by traditional wallets. According to the Yenom team, a DLPP reference implementation is coming soon. What do you think about the Deep Link Payment Protocol proposed by the Yenom developers? Let us know what you think about this idea in the comments section below.
Images via Shutterstock, Twitter, hackmd.io, and Yenom
Want to create your own secure cold storage paper wallet? Check our tools section. The post Yenom Developers Propose a New BCH Payment Protocol appeared first on Bitcoin News.