The new browser API from the W3C will allow browsers to easily support digital and crypto currency directly in the browser.
According to the World Wide Web Consortium (W3C), the project has received tremendous support form partners and progress is ongoing to complete and implement it across all browsers.
How does it work?
Just like how browser has a content caching feature, this feature will allow web browsers to store crypto-currency right within the browser.
In practice, it will work just like how we other browser app handlers like email links, telephone numbers and camera systems work.
Once you activate the wallet feature in the trough clicking the appropriate link in the browser, it will instantly launch the in-browser wallet to handle payment!
This will eliminate the need of thirdparty wallets by allowing browsers to serve as web wallets. The function of Paypal, Coin Base and Credit card processors will be reduced.
The head of payment development at the W3C, Ian Jacobs, told CoinDesk;
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.
How ready is the project?
According to the World Wide Web Consortium (W3C ), the development has reached the Candidate Recommendation Status.
That mean that the project has been developed, tested and proven to work. Now they are in the process of working on browser interoperability so one code will work on all browsers.
Which currencies will be supported?
- Bitcoin
- fiat digital currencies
- crypto-currencies(including Steem)
Who are those behind the project?
- Microsoft
- Apple
- and Mozilla
Which browsers will be supported?
- Google's Chrome
- Microsoft's Edge
- Apple’s Webkit
- Mozilla’s Firefox
- the Samsung Internet Browser
- and Facebook's in-app browser
Read the report from the W3C
Read the interview on CoinDesk
The best times for Bitcoin are still ahead folks!
Oh wow. That's a very good thing to hear! :-)
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great news! thanks for sharing. hope they will implement these in-browser wallets soon ;-)