Bitcoin payments take small steps towards improvement

A flawed system makes the evolution of Bitcoin payment systems difficult but developers are working on it.

Responding to the need for a more user-friendly system for merchants, a new payment request system is in the works, which will enable bitcoins to be sent directly and more safely between people without, of course, removing transactions from the Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term (public record of Bitcoin transactions available to all users). This, as opposed to the current system whereby bitcoins are sent with an alphanumeric address to clients.

The old way presents several concerns:

• It allows for phishing expeditions and once you’ve been reeled in, there is no way of getting your money back because bitcoin Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term are permanent.
• Bitcoin payments are difficult to document and do not have a return address for refund purposes.
• As developer, Jeff Garzik says: “It’s great technically but it looks like a monkey banging on a keyboard to the average person.”

The new way:

Instead of sending payments to a complicated bitcoin address, the customer waits for a merchant request via email, or via a website and then uses the Payment Request to make a payment. A digital certificate will be used to prove that the sites are owned and operated legitimately.

All so that safer and easier Bitcoin experience may be achieved.