Bitcoin News and Finance
Developers Launch the First Hosted Noncustodial Payment Processor for Bitcoin Cash Payments Skip to main content

Developers Launch the First Hosted Noncustodial Payment Processor for Bitcoin Cash Payments

Developers Launch the First Hosted Noncustodial Payment Processor for Bitcoin Cash Payments

Bitcoin Cash proponents have recently been introduced to a new noncustodial payment processor called Prompt.cash. The platform provides merchants with a simple way to accept peer-to-peer electronic cash payments and can also generate a new address per invoice.

Prompt.cash: A Hosted Noncustodial Payment Processor for Accepting P2P Electronic Cash

A number of innovative applications that leverage the crypto asset bitcoin cash (BCH) are on the horizon. In recent times, BCH fans have been introduced to a newly created payment processor called prompt.cash, a platform that allows people to accept BCH in a noncustodial fashion.

The main developer behind the project is a well known programmer who goes by the name Ekliptor. The dev has 16+ years coding experience and has been working with bitcoin cash payment systems for years now. The engineer also developed cashtippr.com, a WordPress plugin that allows website owners to receive instant tips.

Developers Launch the First Hosted Noncustodial Payment Processor for Bitcoin Cash Payments

Speaking with Bitcoin.com’s newsdesk, Ekliptor told us why he started working on the prompt.cash noncustodial payment processor. “My experience from this has been that many people in the BCH community asked for a simpler solution and one that they can also put onto non-Wordpress websites within a minute by just copy and pasting,” Ekliptor said.

“Custodial payment processors (our competitors) are like a bank,” the developer added. “They own the money they receive and then later the merchant can withdraw the money into his or her own wallet (or not in case of compliance issues or a security breach). Our noncustodial processor works like ‘Software-as-a-Service’ instead of being a bank. This means every payment arrives directly in the wallet of the merchant. We can not freeze or hold the merchant’s money as we are not part of the transaction,” he added.

Ekliptor continued:

And all this in a more convenient and even easier setup than custodial processors without the usual banking/KYC paperwork.

Digital Entrepreneurs Donate Funds to the Prompt.cash Flipstarter

The Prompt.cash project also has a Flipstarter fundraiser going on right now, as the developers are raising 390 BCH. The Flipstarter description details that the team’s Prompt.cash platform is the first hosted noncustodial Software-as-a-Service payment processor.

“[The application] allows integration without bureaucracy and enables our merchants to integrate us within minutes,” the Flipstarter descript explains. “We already have a working payment processor implemented in Go, following best practices and code standards.”

Developers Launch the First Hosted Noncustodial Payment Processor for Bitcoin Cash Payments

So far, the Prompt.cash project has raised 206 BCH or over $100k worth of bitcoin cash. Bitcoin.com’s founder and angel investor, Roger Ver sent the project 101.15 BCH. The popular digital entrepreneur Kim Dotcom sent the Prompt.cash project 100.8 BCH. “Exciting times,” the creator of the content monetization platform K.im added in his comment.

The Flipstarter also notes that the Prompt.cash application has been live for about a month so far and signed 50 merchants to-date. Bitcoin.com’s readers can read more about the Prompt.cash project and the Flipstarter fundraiser here.

What do you think about the noncustodial payment processor project Prompt.cash? Let us know what you think about this subject in the comments section below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Post a Comment
Read more
Blogarama - Blog Directory