Monero XMR, the number 10 cryptocurrency by market capitalization has made a move to commence use of BTCPayServer, a fork of BitPay, for its payments.
This followed an “open feature request” to adopt the cryptocurrency as a payment option for the new fork of BitPay. Nicolas Dorier, a software developer in the space made the move to create BTCPayServer, as a new payment processor when Bitpay announced on its blog that users needed to get ready for what it called “a security upgrade” to Segwit.
Apparently Dorier and many members of the crypo community interpreted the announcement as an attempt by BitPay to “swindle its customers into a Bitcoin fork” without telling them what it really was. Dorier said:
“This is lies, my trust in you is broken, I will make you obsolete”
Since then, Doriers’ project to create BTCPayServer has gained the support of many in the crypto community who have offered to support in cash or in kind to see that it becomes a reality.
Although he isn’t familiar with Monero enough to work on incorporating it into BTCPayServer, Dorier has pledged his willingness to support anyone who will study the workings of Monero enough to effectively facilitate its migration to the new fork.
“This is not easy as Monero has completely different design than Bitcoin. All shitcoin support depends on NBXplorer and NBitcoin which highly depend on the UTXO model. I don’t have time to learn about Monero to do this, but if someone feels motivated to do, I can guide.”
Developers who are willing to help have been asked to go on Slack to suggest ways of improving the development and to report bugs.
BTCPayServer is a self-hosted, and open source crypto processor designed to facilitate payments in both Bitcoin and Altcoins.
BTCPay the payment platform also does not require any intermediary to make payments and enables direct bitcoin payments between peers on the network. Also worthy of note is the fact that no fees or transaction costs are incurred when using the platform except fees for the cryptocurrency network and payments are sent directly to the receiver’s wallet.
In terms of security, users’ private keys are safely concealed and are never uploaded online. This gives your wallet the extra security it needs. In addition, addresses are only used once since a new address is generated for each payment using your xpubkey.
Interestingly, the self-hosted BTCPay can be run on any server using even a third party host if necessary. It also supports the use of Lightning Network with any number of stores and can be used as a payment processor for others as well.
BTCPay is built to be fully compatible with Bitpay to enhance easy migration of cryptocurrencies from Bitpay. It currently supports BGold, Dash, Dogecoin, Feathercoin, Groestlcoin, Litecoin, Monacoin, Polis, UFO and Viacoin and of course Bitcoin.
It appears with the revolutionary nature of BTCPay, many altcoins may be considering migrating to it soon. The move was clearly aimed at defending Bitcoin but it appears BitPay may be getting a harder blow than intended.