While we are discussing the cryptocurrency potential to come to mainstream and be considered as a future platform for digital transactions, few of the tech giants have already started working on this. Reports show that developers at some of the top tech companies like Apple, Google, Microsoft, Mozilla and others are working on browser APIs to use cryptocurrencies such as Bitcoin for online purchase of goods and services.
This year, the entire cryptocurrency market has seen a huge investor participation and has just multiplied its valuations by many times. As a result, they are now into the limelight and tech giants think that it might be the right time to push them as a daily transaction tool.
The news developed APIs are being currently implemented across multiple browsers like Mozilla’s Firefox, Google Chrome, Apple Webkit, Microsoft Edge, Facebook in-app browser and the Samsung Internet browser. Upon activation, this API will allow new payment types for all cryptocurrencies like Bitcoin, Ethereum and few other Altcoins. The user will be able to select from the available payment options from the drop-down menu.
This will enable users to store their cryptocurrencies in their browser and use them as a traditional currency for all their online transactions.
Ian Jacobs, head of the payments activity at the World Wide Web Consortium (W3C) said:
“This is a great opportunity for people to start writing blockchain-based payment method descriptions and to try to test the API. That’s sort of the period that we’re in, the test and interoperability development phase.”
Bringing Safety and Security to each transaction
However, while integrating payment options into the browser, one of the most important concerns which always remains is making is safe and secured from potential external threats. It seems that W3C and all associated tech companies have evaluated this matter at hand to proceed ahead for further progress.
While commenting on this, Jacobs said
“The specification has matured enough within the W3C process that we’ve moved from draft state to stable state. And that means, now we know what the API is going to do, and we are building test suites and working on browser interoperability so the implementations are secure and they behave the same way.”
However, if consumers are at all willing to try this option they will have to download the browser extension for the time being. Note that all these developments are currently in a preliminary stage and expected to get better with more developer inputs over the period of time.
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