Payment Protocol for Everyone
One of the main priorities at BitPay is to make our platform, Copay (complete with a multisig wallet), as featureful as possible. Along with this is our core implementation of Bitcoin, aptly named Bitcore. Both of these projects can be run in the browser.
However, up until now, as strange as it may seem for a platform that tries to implement every cutting-edge bitcoin improvement there is, Bitcore and Copay have lacked support for the extremely beneficial Payment Protocol (BIP-70). It ultimately became our primary goal to make Payment Protocol easy to use for everyone via Bitcore.
Bitcore and Payment Protocol? Payment Protocol is a method by which the traditional procedure of sending transactions is scrapped for a clientserver based model.
Keep your seats. This doesn’t mean Bitcoin is no longer distributed. It allows a server to decide how many bitcoins you need to pay, and where you need to pay them. After that, the server broadcasts your transaction for you. Most importantly, it solves the problem of verifying identity in Bitcoin by using an X.509 Certificate Chain. In the spirit of a distributed system, anyone can make a Payment server or client. We wanted to make that last part easily possible.
This post was published at BitPay on September 25th, 2014.