Every day more and more online marketplaces are accepting bitcoin and other digital currencies in exchange for the goods and services offered on their websites. As the adoption of cryptocurrencies continues, these vendors have 2 options to choose from when implementing this new payment option.
The first option is much easier, and involves the use of an intermediary (i.e. Coinbase) to exchange the funds. However, from a network security perspective, this is unacceptable because the funds are not under your control as they pass through a third party. Additionally, the fees associated with this option can be exuberant.
The other option is much more complex and requires the seller to rent or purchase a dedicated server, install the full bitcoin node and all the other necessary software. The bitcoin node then generates a unique address for each transaction while also serving as an identifier for it. While this option is much more secure, it lacks the user-friendly interface and can be extremely complicated to implement. Additionally, the server which hosts this software runs the risk of being hacked.
RNG Coin has developed an e-commerce tool which provides a solution. It offers the highest level of security and all of the advantages of receiving decentralized/anonymous payments, while being simple to implement. The only step users must follow is to either install the full RNG node, or just the small PHP script. This one simple step will allow users to sell goods and services using RNG Coin. Additionally, it is tamper-proof and several times faster than most mainstream coins.
RNG E-Commerce Tool
RNG Coin allows users to attach a comment to each payment. Each comment has the ability to act as a unique identifier. While bitcoin generates a unique address for each transaction to serves as the identifier, RNG Coin allows users the ability to accept payments to the same address multiple times.
Consider this example:
Alice and Jane each separately purchase an item from Bobs website for 100 RNG. An invoice is generated for Alice indicating that she owes 100 RNG. The comment section of the invoice indicates it is for transaction #98111. Therefore, when Alice sends her payment, she will include “#98111” in the transaction comment section.
Next, Janes invoice will indicate the transaction her separate order #90123. This will ensure that vendors never confuse the orders.
The implementation of this software marketplace does not even require the user to install the full RNG node, only the PHP script. Additionally, all transactions can be verified through our public blockchain explorers (chainxplorer.io and rngexplorer.io or any other public blockchain explorers where RNG Coin is visible).
The merchant’s RNG wallet should never be connected to the network; all incoming transactions can be checked and verified through our block explorer, online node, or any additional online wallet which interacts with the blockchain. In this case, the merchants wallet can be stored offline in a cold storage wallet and remain 100% protected from any potential hacking.
The speed, safety, and advanced functionality of RNG Coin separate it from all other e-commerce digital payment methods. Also, it is so simple to implement, users do not require any advanced knowledge of blockchain technology in order to begin using it as a payment method.
The completion of development and implementation of the RNG e-commerce tool is planned for March 2019. The software is open-sourced and will be published on GitHub.
