Opencap Protocol to make Permanent Addresses Human Readable
Sending cryptocurrencies can be dangerous because once sent to the wrong or non existent address, such funds are gone forever. As a result, wallet addresses which are difficult to memorize are often copied and paste on the internet when carrying out transactions which may result in double use of addresses against the ideal use of one address for a single transaction.
To avoid the repeated use of addresses, aliases can be attached to such addresses which makes them easily identifiable by users.
A protocol known as OpenCap sets standards that guide how wallets interact with servers to to relate aliases with addresses. The protocol can be easily used by anyone to relate aliases to addresses which is the primary aim of the protocol although other features may be added. more information on the Opencap protocol is available here.
OpenCAP is a protocol that defines the standard by which cryptocurrency wallets can communicate with servers to relate aliases to cryptocurrency addresses. The protocol allows for the decentralization of the alias –> address relationship. Anyone can use the protocol to build/host their own server on their own domain. Servers can be majorly centralized, or individuals can run their own servers, much like SMTP (email).
OpenCAP is adhered to by both client (wallet) software and server (address storage) sofware. Wallets must know how to properly parse an alias and perform the proper API calls. Servers must know how to handle those requests in the proper manner and send back valid data. Any given wallet and server that adhere to the OpenCAP protocol will be able to communicate cryptocurrency address information seamlessly.
OpenCAP is a simple protocol that does one thing: relate aliases to addresses. Servers can of course add more features to their servers (profile pictures, address re-use and validation, etc.) but these features are not a part of the base protocol.
Support us and the authors of this article by donating to the following address:3JMnK94tzzuLjafP5GoLui7ieFxuxK2NvQ