Bitcoin is the first decentralized digital currency，but payment is a big problem in bitcoin. Too much confirm time and handling charge separates Bitcoin from payment scenarios in daily consumptions, making it a “digital gold” with value accumulation and large settlement.
DPC is an instant payment solution in decentralized digital currency, mainly applied in digital currency micro or small payments which supports multiple digital currency real-time payments based on lightening network. Simply speaking, the task of DPC is to allow real P2P payment between users and merchants with super-low handling charges and transfer delay in transactions and to realize small payment scenarios.
DPC introduces “non-bank card payment” strategy, which is of great significance to realize digital currency decentralization for micro or small payment. The biggest obstacle for digital currency payment is decentralization. Firstly, currently mainstream exchange is a completely decentralized institution. Capital theft risk and poorly timely transaction makes decentralized exchange as payment scheme less feasible. Moreover, currently merchants adopt settlement in fiat currency. Every settlement requires coordination among many payment institutions and merchants needs to undertake too much handling charges. Globalized digital currency directly competes with cross-border settlement of card organizations, who are likely to stop supporting or even block encrypted currencies. Therefore, decentralized digital currency payment is extremely significant.
The “compound decision lightening network” of DPC will realize super-low handling charges and transfer delay in digital currency payment. By combining “non-bank card payment” with lightening network, DPC realizes its own “compound decision lightening network” based on BOLT protocol, where payment requests and fiat currency exchange requests are matched in the upper decision network and efficient and safe payment channels are established in the lower one, and settlement in fiat currency is completed for merchants by locally paying to acquirers.
The “compound decision lightening network” can make lightening network more intelligent with close linkage while sharing nodes by integrating decision network and execution lightening network into a same distributed system, so advanced routing functions like the matching between exchange request and payment request can be realized and the entire network topology can keep efficient and decentralized through rule design and feedback system to avoid large centralization node.
The decision network in the “compound decision lightening network” realizes intelligent matching between digital currency and fiat currency and transfer digital currency through lightening network. While ensuring the same security as on-chain payment, it can realize rapid off-chain Bitcoin payment. Every node in the lightening network can be regarded as a fully automatic transaction transfer link at extremely low costs, where transactions can transfer rapidly with low handling charges and consumers can make instant payment in digital currency successfully. It also works when payment amount is small. Merchants can receive the corresponding amount in fiat currency in real time (handling charges are deducted) so as not to avoid the threshold of cash withdrawal. And currency buyers can acquire the required digital currency for further consumptions or other purposes.
The core members of DPC are talents with rich experience in cryptology and business application and rich practice in payment or experts in lightening network technology and block chain. Our abundant resources allow us to rapidly establish cooperation with acquirers from mainstream countries beyond centralized institutions like bank card organizations to avoid the issues like business model collapse in other digital currency payment products caused by discontinued operation due to VISA.
DPC made intensive preparations for development and business in 2018. From many angles, DPC owns reasonable product strategy, mature technology, powerful teams and abundant industrial resources. The project finalization is just a matter of time.