March 5, 2018

PayPal Jumps in to Secure a Role Speeding Up Cryptocurrency Transactions

From CoinTelegraph: 

According to the patent, PayPal is attempting to solve the problem of slow transaction times for cryptocurrency trades that have led potential crypto users to “instead choose to perform the transaction using traditional payment methods rather than virtual currency.

“Issues like this have slowed the adoption of virtual currencies despite their advantages,” the patent states.

The patent details how the creation of secondary wallets with their own private keys will make transaction times much faster, “practically eliminat[ing] the amount of time the payee must wait to be sure they will receive a virtual currency payment in a virtual currency transaction.” 

Read the article below.

https://cointelegraph.com/news/paypal-files-patent-for-system-to-speed-up-cryptocurrency-transaction-times

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