How does the transactions work between merchants and users? It’s

Question

Electroneum

badCryptos

How does the transactions work between merchants and users? It’s

off chain ?

#cryptocurrency #electroneum #english

0

14.03.2022

3 ответов

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BegaMutex

A vendor (shop) can set themselves up in the electroneum.com wallet to be a shop. They can then use the Instant Payment API to generate QRcodes on their website or online shop for taking payments online or face-to-face...someone using an Electroneum.com wallet can scan that QR code and make the payment. it's instant because the payment amount is frozen in the buyers wallet (so that the shop knows they will receive it and can continue the purchase), then a few minutes later the funds are sent on the blockchain to the shops wallet so they have the actual funds. So its just a centralised middle-man for ringfencing payment amounts and sending so that shops can process a payment there an then (and not have to wait for the blockchain to confirm the funds are sent).

0

14.03.2022

Ender

BegaMutex
A vendor (shop) can set themselves up in the elect...

If I'm not mistaken xrp does something like this it can be used also for offline transactions let's say you don't have internet connection at the time you can still make a purchase right

0

15.03.2022

BegaMutex · Accepted Answer

BegaMutex

Depends. They can just accept on their site using normal blockchain transactions. Or if they use the centralised Wallets provided by electroneum.com they can plug in the Instant Payment API to allow for instant transactions (funds and ringfenced in sending wallet and sent on blockchain shortly after). https://electroneum.com/instant-payments/

0

14.03.2022

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How does the transactions work between merchants and users? It’s

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