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You can use Request for this. It's a payment app that uses ETH and 5 other ERC-20 tokens including DAI and soon BTC support as well. YC backed too. https://req
by momentmaker 8y ago
You can use Request for this. It's a payment app that uses ETH and 5 other ERC-20 tokens including DAI and soon BTC support as well. YC backed too.
https://request.network/ https://request.network/
- em3rgent0rdr 8y agoJust read the whitepaper. Seems that the payer has to continuously scan the request network for requests and then the under its own will sends the money. But that means that your wallet has to be online (continuously or at least when the requestor makes the request), and this requirement of having a wallet online and having the wallet be able to automatically send money is the risk which I was pointing out that makes crypto like bitcoin or eth ill-suited for auto recurring payments. The crypto is only as safe as the computer it is on. Also as I hinted at such a scheme would require the computer holding the wallet to be online... So I'm imagining everyone would have to have the coins on a device like a home raspberry or home router or (gasp) on your smartphone you carry around. I guess these problems reduce to computer security problems, and so aren't insurmountable nor are they problems inheirent to crypto. Honestly the whitepaper talks a little too much about how revolutionary it will be and all the things it could solve without going into enough detail of implementing the solutions.
- atomical 8y agoIt depends. If there is a smart contract involved then the smart contract could deduct tokens from the users account automatically. This wouldn't be possible with ETH, but would be possible with a token issued on the Ethereum network.