PayPal applies for patent for crypto currencies

PayPal has filed a patent for fast transactions of crypto currencies. Their idea includes the use of „second keys“, which are linked to a user’s wallet. Instead of transferring a payment as usual, only parts of the private keys are exchanged or passed on. The private keys contain a certain amount of money.

The patent application states that the systems and methods that PayPal wants to implement ensure that the time that the payee normally has to wait for his payment is practically non-existent.

In a digital currency transaction, this is done by giving the payee the private keys to the addresses that have a certain value of a digital currency.

How will this Ethereum code work in practice?

For example, someone who has Ethereum code has a bit coin stored on several addresses, i.e. on the first address he has 0.1 bit coin, on the second 0.05 BTC, on the fifth 0.005 bit coin and so on like this:

If someone now wants to buy an item that costs 0.055 BTC, they would send the seller the private keys of the second and fifth Bitcoin addresses that contain exactly that amount.

The seller does not have to wait for the confirmations and thus has no waiting times and security at the same time, as he receives immediate payment.

Personal transactions for the Bitcoin revolution

From six confirmations, a Bitcoin transaction is considered secure and irreversible like shown here: Once the six blocks have been mined and the block chain added, the seller can trust the transaction. With a block time of ten minutes at Bitcoin revolution, this means one hour – a long wait.

This is no problem if you know and trust the other person, or if you order something online. However, it becomes problematic if the Bitcoin price falls significantly during the waiting period. It is possible that the seller is no longer interested in the transaction or is asking for more Bitcoins to get the desired price (in Euro).

Even if someone wants to buy a cup of coffee with Bitcoin, they must wait for this time if the seller insists on it. An hour for a takeaway coffee is a bit of an exaggeration.

In such transactions, the idea of PayPal would be helpful, an instant secure confirmation for the seller and the buyer does not have to wait.

SIRIN LABS Token Course – Development – Forecast

The SRN crypto currency was introduced on 12 December 2017 for use within the own platform. Its main task is to support platform functionality and internal money transfer between participants at a high level. It is planned that in the near future the tokens will be used to purchase the company’s mobile devices and computers.

According to the developers of SRN, this decision justifies the introduction of digital currency and smartphones on one platform. This will be an innovation in the field of crypto currencies and electronic devices. The seriousness of these intentions is supported by the fact that at the end of 2017 the official representative of the company became the famous football player Lionel Messi.

Soon the tokens of this company will be listed on the largest Chinese crypto currency exchange Huobi, which has high liquidity. This can have one or the other effect on the SIRIN LABS token price.

Today the statistics about the Bitcoin code are as follows:

The total capitalization is 268 million 443 thousand dollars. The maximum possible number of Bitcoin code that can be used in circulation is unknown, but according to the developers there is no maximum amount for further issuance. The number of coins in circulation is more than 100 million. The daily volume is 16 million dollars. In the near future, the company plans to expand its activities by developing electronic devices based on the Bitcoin code blockchain. This will have a positive effect on the development. The SRN crypto currency was created to provide users with maximum protection. The blockchain technology underlying the company’s development can also bring security and decentralization to the new digital currency.

Token Development and Perspectives for the Bitcoin trader

The token has a high chance of further development and success for the Bitcoin trader. This is confirmed by the company’s policy: today, major projects are under development based on a mature blockchain-based technology. Against the background of the increasing interest in crypto currencies and digital technologies, the demand for the company’s native products will be high. This is advantageous for the Bitcoin trader, as all operations of purchase and sale will take place exclusively in the crypto currency. This can cause the SIRIN LABS token price to rise sharply.

Create Wallet
Wallet for storage – the SIRIN LABS Wallet

The security of the tokens is provided by a cold store in offline mode, where the SRN Wallet is not connected to the Internet (it is in a completely isolated standalone computer) and has a hidden IP address.

The platform is equipped with a highly secure cryptographic core. This makes it possible to use the wallet and carry out transactions without any risk. So you can not be seen by a third person. As soon as the development within the Shield OS for the mobile phone is completely finished, the users will get another security option for the wallet – namely the automatic shutdown of the wallet from the net, if the wallet is not used after a few minutes.

Where can I buy the SIRIN LABS token?
On Liqui and Tidex crypto exchanges you can buy SIRIN LABS tokens. The price is close to $ 0.45. As of March 23, the capitalization of the project is more than $ 94 million. Currently there are 229,000,000 tokens in circulation. The maximum number of tokens is estimated at 573,000,000 SRN.

Friends, this information should be sufficient to realistically present the prospects of the project and its SRN token. The general prognosis is positive.

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