It is no secret that bitcoin usability has room for improvement. Fortunately, a new feature planned for the bitcoin v0.9 release will significantly increase merchant and customer usability in four key areas: ease of payment, recurring payments, dispute resolution, and immediate-feedback transactions. The key improvement is a new type of payment messages where a merchant can send a signed request (PaymentRequest) specifying the amount to be paid and a description of the transaction. The customer can then send payment to the merchant and receive an acknowledgement (PaymentACK) of the transaction with a message from the merchant. Before discussing the advantages of the implementation, it’s important to understand a few key aspects of the changes. Technical Changes Signed Transactions It is currently common practice is to generate new bitcoin receiving addresses for each customer to ensure funds can be associated with each individual’s account. However, this raises issues for merchant-initiated transactions since the recipient of the request must verify the authenticity of the requester. To solve this problem 0.9 will use…
The post Significant Merchant Improvements Planned for Bitcoin v0.9 appeared first on The Genesis Block.
It is no secret that bitcoin usability has room for improvement. Fortunately, a new feature planned for the bitcoin v0.9 release will significantly increase merchant and customer usability in four key areas: ease of payment, recurring payments, dispute resolution, and immediate-feedback transactions. The key improvement is a new type of payment messages where a merchant can send a signed request (PaymentRequest) specifying the amount to be paid and a description of the transaction. The customer can then send payment to the merchant and receive an acknowledgement (PaymentACK) of the transaction with a message from the merchant. Before discussing the advantages of the implementation, it’s important to understand a few key aspects of the changes. Technical Changes Signed Transactions It is currently common practice is to generate new bitcoin receiving addresses for each customer to ensure funds can be associated with each individual’s account. However, this raises issues for merchant-initiated transactions since the recipient of the request must verify the authenticity of the requester. To solve this problem 0.9 will use…
The post Significant Merchant Improvements Planned for Bitcoin v0.9 appeared first on The Genesis Block.
Payment Becomes Easier on DinoDirect with BitcoinWall Street JournalBitcoin basically refers to a crypto currency. It is something that was described first in a 2008 paper. This is an electronic cash system. The creation as well as transfer of Bitcoin …
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Payment Becomes Easier on DinoDirect with BitcoinWall Street JournalBitcoin basically refers to a crypto currency. It is something that was described first in a 2008 paper. This is an electronic cash system. The creation as well as transfer of Bitcoin is based on an open source cryptographic protocol. This means that ...and more » |
Stanford University startups course: Build a bitcoin crowdfunding siteCoinDeskStanford University is offering a course to young entrepreneurs which requires them to build a bitcoin crowdfunding system. Stanford is one of the most illustrious universiti…
In London , the next wave of Bitcoin growth will be led by startups and innovationGigaOMBut at Bitcoin London this week, it was clear that it would be the next wave of innovative startups that might be able to eventually move Bitcoin from an experiment…