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Bitcoin payment request

bitcoin payment request

Head over to Blockonomics Merchants Page and Click on 'Get Started for Free'. You will be redirected to a Sign-Up page. Fill. Requesting Bitcoin from a fellow Zumo user is also quickly done in a few simple steps. To request Bitcoin from a contact, the first thing you need to do is to. Because cryptocurrency transactions are irreversible, your payments are protected from chargebacks. This also discourages chargeback fraud. If a customer wants. FOREX TRADING JOURNAL EXAMPLES PDF

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Introducing Payment Requests - Invoice clients \u0026 get paid in Bitcoin


An example CGI program and description of all the parameters which can be used in the Payment Protocol is provided in the Developer Examples Payment Protocol subsection. In this subsection, we will briefly describe in story format how the Payment Protocol is typically used.

Charlie, the client, is shopping on a website run by Bob, the businessman. An order total in satoshis, perhaps created by converting prices in fiat to prices in satoshis. An expiration time when that total will no longer be acceptable.

A pubkey script to which Charlie should send payment. The unique public key created for the payment request can be used to create a unique identifier. It then creates a PaymentDetails message with the following information: The amount of the order in satoshis and the pubkey script to be paid. The time the PaymentDetails message was created plus the time it expires. That PaymentDetails message is put inside a PaymentRequest message. The Payment Protocol has been designed to allow other signing methods in the future.

Among other things, the Payment message contains: The signed transaction in which Charlie pays Bob. An optional memo Charlie can send to Bob. In the case of a dispute, Charlie can generate a cryptographically proven receipt out of the various signed or otherwise-proven information. The Bitcoin block chain can prove that the pubkey script specified by Bob was paid the specified number of satoshis. See the Refunds section below for more details.

A malicious spender can create one transaction that pays the receiver and a second one that pays the same input back to himself. Only one of these transactions will be added to the block chain, and nobody can say for sure which one it will be. Two or more transactions spending the same input are commonly referred to as a double spend.

Once the transaction is included in a block, double spends are impossible without modifying block chain history to replace the transaction, which is quite difficult. Using this system, the Bitcoin protocol can give each of your transactions an updating confidence score based on the number of blocks which would need to be modified to replace a transaction.

For each block, the transaction gains one confirmation. Since modifying blocks is quite difficult, higher confirmation scores indicate greater protection. Zero confirmation transactions unconfirmed transactions should generally not be trusted without risk analysis. Although miners usually confirm the first transaction they receive, fraudsters may be able to manipulate the network into including their version of a transaction.

Transactions which pay sufficient transaction fees need 10 minutes on average to receive one confirmation. However, the most recent block gets replaced fairly often by accident, so a double spend is still a real possibility. As of March , two block replacements were exceedingly rare, and a two block replacement attack was impractical without expensive mining equipment. Even a reasonably lucky attacker would require a large percentage of the total network hashing power to replace six blocks.

Although this number is somewhat arbitrary, software handling high-value transactions, or otherwise at risk for fraud, should wait for at least six confirmations before treating a payment as accepted. Bitcoin Core provides several RPCs which can provide your program with the confirmation score for transactions in your wallet or arbitrary transactions.

Although confirmations provide excellent double-spend protection most of the time, there are at least three cases where double-spend risk analysis can be required: In the case when the program or its user cannot wait for a confirmation and wants to accept unconfirmed payments.

In the case when the program or its user is accepting high value transactions and cannot wait for at least six confirmations or more. In the case of an implementation bug or prolonged attack against Bitcoin which makes the system less reliable than expected. An interesting source of double-spend risk analysis can be acquired by connecting to large numbers of Bitcoin peers to track how transactions and blocks differ from each other.

Some third-party APIs can provide you with this type of service. For example, unconfirmed transactions can be compared among all connected peers to see if any UTXO is used in multiple unconfirmed transactions, indicating a double-spend attempt, in which case the payment can be refused until it is confirmed. Another example could be to detect a fork when multiple peers report differing block header hashes at the same block height.

Your program can go into a safe mode if the fork extends for more than two blocks, indicating a possible problem with the block chain. The technical details of this scheme are detailed in BIP Applications should support this if they want to be interoperable with other bitcoin products. Note that a URI scheme can be presented as lowercase or uppercase.

BIP 21 is extensible and allows for the addition of other useful meta data that give more context to a payment request. This includes things like an amount, labels, messages, and other useful data. It also allows more than one type of payment request format to be included in a payment request.

Lightning payment request formats Invoice An invoice is the basis of payment requests on lightning. Most other lightning payment request formats build on top of invoices. How they work on a technical level is defined in BOLT Invoices are single-use payment requests which have built-in expiries, set to 60 minutes by default. Invoice expiration times can be configured for different use cases such as Hold invoices.

These have long expiration times that allow a receiver to accept the payment at a later time. Invoices can also contain other pieces of meta data useful for users, like a description detailing what the invoice is for. A name can be included in the description via NameDesc , which lets the sender know who they are paying.

Therefore, avoid calling an invoice an address. These payment requests do not actually contain invoices. Instead, the payer scans or imports the request data. It contains all the information they need to fetch a new invoice from the recipient. The various types of invoice protocols offer flexibility and unique use cases not possible with single-use, standard invoices.

Offers Offers are an experimental invoice protocol developed by Core Lightning. Offers are still a draft specification and are currently not widely supported. Offers can contain a wider range of meta data compared to standard invoices. This includes fiat currencies, requester names, payment limits minimum and maximum , and recurrences how often can a new request be generated.

Some examples are outlined here. Offers can also generate pull payments, say for refunds, and have the ability to create subscriptions. A subscription has the offer generate and share invoices with a subscriber as they need them. Unlike other invoice protocols, offers use native communication to share invoices. This means the invoices are shared within lightning and not out of band over private communication channels, or through a web server like LNURL , making it more private, censorship resistant, and convenient.

Offers do not need as much information as a standard invoice for a payment to be made. This has usability improvements, such as smaller, easier-to-scan QR codes. Another feature that is a work in progress with offers is blinded paths.

These will enable a user to not reveal the public information about their lightning node, improving privacy. This comes with privacy and censorship resistance trade-offs, as users are relying on a third-party server to act honestly. LNURL uses a web server, which allows it to have much richer data attached to its requests.

An example is the ability to add an image, say of your merchant store, to a payment or request. Three of these sub-protocols are focused on making or requesting payments pay, lightning address, and withdraw. LNURL-auth and channel are also available for authenticating a user and opening payment channels.

Pay LNURL-Pay allows senders to dynamically request an invoice from the receiver to be paid, based on a static identifier.

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