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DAP

Introduction

Welcome to DAPs - Decentralized Agnostic Paytags

What are DAPs?

DAPs, or Decentralized Agnostic Paytags, are a new way to send and receive money across different apps, currencies, and payment networks. Just like email made communication simple and universal, DAPs aim to do the same for digital payments.

With DAPs, you can send money to anyone using a simple, human-friendly handle called a paytag, which looks like an email address (e.g., @alice/example.com). No more complicated wallet addresses or siloed payment apps DAPs unify payment networks and simplify transactions for everyone.

How DAPs Work

At the core of DAPs are three key components:

  1. Paytags: Paytags are email-like handles that uniquely identify a user’s payment information. They consist of a username and a domain (e.g., @bob/example.com).
  2. Money Addresses: Money addresses are standardized URIs that represent a user’s various payment accounts across different currencies and networks (e.g., BTC, ETH, USDC). Each money address is linked to a user’s paytag.
  3. Decentralized Identifiers (DIDs): DIDs are decentralized, cryptographically-verifiable identifiers that associate a user’s paytags with their money addresses. DIDs enable secure and private payment information lookup without relying on a central authority.

When someone wants to send money using DAPs, they simply enter the recipient’s paytag in their preferred payment app. The app then resolves the paytag to the recipient’s DID, retrieves their money addresses, and prompts the sender to choose the currency and network they want to use. The payment is then securely sent to the recipient’s corresponding money address.

Benefits and Key Features

  • Simplicity: DAPs make sending money as easy as sending an email. No more complex wallet addresses or app-specific payment handles.
  • Interoperability: DAPs enable seamless transactions across different payment apps, currencies, and networks, breaking down silos and promoting a more connected financial ecosystem.
  • Decentralization: By leveraging DIDs, DAPs provide a decentralized way to associate payment information with paytags, ensuring users have control over their financial data.
  • Privacy: DAPs allow users to selectively disclose their payment information, giving them greater control over their financial privacy.
  • Flexibility: DAPs support a wide range of currencies and payment networks, enabling users to choose the payment methods that best suit their needs.
  • User-friendly: With simple paytags and intuitive payment flows, DAPs make digital payments accessible to everyone, regardless of technical expertise.

Get Started with DAPs

Ready to experience the future of digital payments? Create your paytag now and start sending money like email!

Want to integrate DAPs into your app or build on top of the DAP ecosystem? Check out our Developer Documentation to get started.

Join the DAP revolution and help us build a more open, interoperable, and user-friendly payment landscape. Together, we can make money move like information – instantly, globally, and effortlessly.