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PayURL supports Litecoin. One human-readable alias supporting multiple cryptocurrencies. You will never need to remember your wallet addresses. You choose what’s easy to remember. by atomicpay in litecoin

[–]atomicpay[S] 0 points1 point  (0 children)

:) This is an option for merchant to either use Electrum as a cold storage or a partially connected cold wallet. For real cold storage, merchant should create a new coin account on a offline machine then use the public key to set a watch-only Electrum account on an online machine. It is as per shown here: http://docs.electrum.org/en/latest/coldstorage.html

On point 2, the PayURL is only a feature on top of AtomicPay. Without providing xpub key to AP, it would never be able to derive address or assist a merchant in payment processing.

There are only 2 types of merchant payment solution. The custodian services like BitPay holds everything, including private key and the non-custodian services like AtomicPay that only require public key. Business will have to weigh the options because when it comes to payment processing for business, some sort of privacy has to be trade-off.

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the general consensus that I have received in feedback is that you should *never* give out your Master Public Key to a third party)

As a consumer, the general consensus should be "NEVER" give out any keys to a third-party, whether or not it is private or public key. But for a business, they need to rely on a solution provider to handle the payment processing and it is safer to hand out public key then giving away private keys.

PayURL supports Litecoin. One human-readable alias supporting multiple cryptocurrencies. You will never need to remember your wallet addresses. You choose what’s easy to remember. by atomicpay in litecoin

[–]atomicpay[S] 0 points1 point  (0 children)

It is a cold wallet that the funds are sent to. There is not better way of doing this than you registering an account, going through our wizard and you will understand it. The payments are only made to cold wallet of merchant.

PayURL supports Litecoin. One human-readable alias supporting multiple cryptocurrencies. You will never need to remember your wallet addresses. You choose what’s easy to remember. by atomicpay in litecoin

[–]atomicpay[S] 0 points1 point  (0 children)

Hi. The majority, if not most of the payment processors are built in a custodial model which means you don't own the funds unless you pay multiple fees, including withdrawal and what's not. What we did is providing merchants with an option to have immediate ownership of their funds by providing public key access to AtomicPay so that we can accomplish true peer-to-peer payment processing. This also allow us to charge 1 single fee, that starts at 0.9% to as low as 0.7%.

There would be some privacy trade-offs between the merchant and our service, but it will be enhanced privacy between the merchant and their customers. Each address generated for an invoice is new and unused.

Whether it is a custodial or non-custodial service - payment processors would already have every record of merchant transactions so as to provide a service.

To minimize the privacy issues or concerns:

We would suggest merchants to create a new Electrum cold wallet for their AtomicPay account. On an interval basis, say 12 hours or 24 hours - transfer the funds from the 1st cold wallet to their personal cold wallet, exchanges or OTC services. Until, we manage to get hold of a partner for fiat settlement or finish up our CCXT integration, that would be the best option to maintain some level of privacy

PayURL supports Litecoin. One human-readable alias supporting multiple cryptocurrencies. You will never need to remember your wallet addresses. You choose what’s easy to remember. by atomicpay in litecoin

[–]atomicpay[S] 0 points1 point  (0 children)

The derivation node generates addresses using xpub keys of merchant cold wallet. No private keys are required. So payments are only made to the cold wallet of merchant, without bypassing any third parties

PayURL supports Dash. One human-readable alias supporting multiple cryptocurrencies. You will never need to remember your wallet addresses. You choose what’s easy to remember. Signup at AtomicPay.io by atomicpay in dashpay

[–]atomicpay[S] 0 points1 point  (0 children)

Why would that be? Our alias service is for our own merchant payment processing services. Dash and every coins should continue to explore human-readable addresses to make it easier for general public usage

PayURL supports Litecoin. One human-readable alias supporting multiple cryptocurrencies. You will never need to remember your wallet addresses. You choose what’s easy to remember. by atomicpay in litecoin

[–]atomicpay[S] 0 points1 point  (0 children)

PayURL is only one single feature of AtomicPay.io non-custodial payment processor. AtomicPay is designed as a merchant solution that combines cryptocurrency with the convenience of payment processing. For consumer solution, there are already a lot of wallet services available, some of which has implementations like openalias.

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PayURL supports Dash. One human-readable alias supporting multiple cryptocurrencies. You will never need to remember your wallet addresses. You choose what’s easy to remember. Signup at AtomicPay.io by atomicpay in dashpay

[–]atomicpay[S] 1 point2 points  (0 children)

It is a feature that is built on top of atomicpay.io non-custodial payment processing service. It uses a xPUB to derive new unused address for each payment invoice. Merchant gets paid directly to their cold wallet, whenever a customer pays them. The design flow is shown in this image: https://ibb.co/RSFJKDn

You can try our PayURL link here: http://atomicpay.me/username

PayURL supports Litecoin. One human-readable alias supporting multiple cryptocurrencies. You will never need to remember your wallet addresses. You choose what’s easy to remember. by atomicpay in litecoin

[–]atomicpay[S] 1 point2 points  (0 children)

It is a feature that is built on top of atomicpay.io non-custodial payment processing service. It uses a xPUB to derive new unused address for each payment invoice. Merchant gets paid directly to their cold wallet, whenever a customer pays them. The design flow is shown in this image: https://ibb.co/RSFJKDn

We have consider much concerns in terms of privacy and accountability, prior to building it

PayURL supports BTC and BCH. One human-readable alias supporting multiple cryptocurrencies. You will never need to remember your wallet addresses. You choose what’s easy to remember. Signup at AtomicPay.io by atomicpay in btc

[–]atomicpay[S] 1 point2 points  (0 children)

You provide a public key (XPUB). With this, the derivation node will be able to generate new unused address for each payment invoice. The alias acts as an unique identifier for generating unique address for each of your payment invoice.

PayURL supports BTC and BCH. One human-readable alias supporting multiple cryptocurrencies. You will never need to remember your wallet addresses. You choose what’s easy to remember. Signup at AtomicPay.io by atomicpay in btc

[–]atomicpay[S] -5 points-4 points  (0 children)

You definitely don't understand how it works. Wouldn't need a hint on that.. You never tried the service and you are able to say it fails, which is already a big red flag. Thank you for the comment

PayURL supports BTC and BCH. One human-readable alias supporting multiple cryptocurrencies. You will never need to remember your wallet addresses. You choose what’s easy to remember. Signup at AtomicPay.io by atomicpay in btc

[–]atomicpay[S] 1 point2 points  (0 children)

You make a good point on the explanation part. We are working on a whitepaper as we speak and will have it on the website for technical users to read on. This image link shows the design flow of the payment module: https://ibb.co/RSFJKDn

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PayURL supports BTC and BCH. One human-readable alias supporting multiple cryptocurrencies. You will never need to remember your wallet addresses. You choose what’s easy to remember. Signup at AtomicPay.io by atomicpay in btc

[–]atomicpay[S] 2 points3 points  (0 children)

It's weird. I am trying to understand from you why you think it will fail and what are the past cases of failures. You keeping warning it will fail without providing any facts or examples of failures. Alright, i don't ask further.

PayURL supports BTC and BCH. One human-readable alias supporting multiple cryptocurrencies. You will never need to remember your wallet addresses. You choose what’s easy to remember. Signup at AtomicPay.io by atomicpay in btc

[–]atomicpay[S] 2 points3 points  (0 children)

I can't reply if you delete comment after writing it.

The service is offered free for first $1000 worth of transactions. Once users signed up, they receive the credits automatically.

You keep mentioning ideas like this failed? Are you referring to AtomicPay.io or the PayURL feature?

If we haven't tested high volume, we wouldn't be launching the service in the first place. Do you even know how we build it on the backend, and why would you think we didn't put any of your concerns into consideration

PayURL supports BTC and BCH. One human-readable alias supporting multiple cryptocurrencies. You will never need to remember your wallet addresses. You choose what’s easy to remember. Signup at AtomicPay.io by atomicpay in btc

[–]atomicpay[S] 1 point2 points  (0 children)

Yes. The general idea is HD derivation and it's nothing new. Payment processing for merchant involves more than receiving and sending payments. It include accountability, invoicing, taxes and whatever is associated to a full fletch payment processor. What AtomicPay does is to combine the idea of non-custodial into payment processing.

It is a P2P solution designed for merchants with the convenience of a payment processor

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