The system of instant crypto payments from PayPal

Developers of PayPal plan to reduce the time required to confirm transactions and the appearance of a new unit on the network.

For this purpose, specialists decided to use secondary electronic wallets with their own set of unique private keys for buyers and sellers.

The new system will independently generate and transfer keys to which the required amount in a certain crypto currency is tied.
The algorithm is detailed in a document titled "Accelerated Transaction System in Virtual Currency", which PayPal employees submitted to the US Patent and Trademark Office.

"These systems and methods virtually exclude the time during which the recipient must wait to ensure that he has received a payment in virtual currency. This is achieved through the transfer of private keys that are included in the purses of the virtual currency and are associated with predetermined amounts of virtual currency equal to the amount of payment, "the document says.

In January, the CEO of the popular payment service spoke of the first crypto currency as an inefficient way of transferring value. However, other PayPal employees have a slightly different attitude to bitcoin.

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