hi @zer0hedge
First, thank you for the excellent topic ; The patent seems to concern a system in which the private keys are exchanged between the buyer and the seller in a secure and anonymous way.
The apparent goal of the PayPal system is to make transactions more efficient, by ensuring that transactions can take place "off blockchain", that is, transactions can take place directly between secondary portfolios belonging to a buyer and a seller. These secondary portfolios will have their own private keys.
Instant transactions, if everything goes as planned
The official patent application explains that the proposed system "would virtually eliminate the time that the recipient has to wait to be certain that he will receive a payment in cryptocurrency".
It is not yet clear when and how the system will be introduced into the cryptocurrency markets, nor with which crypto-currencies the system will be compatible.
The PayPal system is the latest development in a series of solutions to improve transaction speed on different cryptographic networks, including the Lightning Network, which aims to resolve scalability on the Bitcoin blockchain.
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