Making the sending of crypto less frustrating and frightening
I had an opportunity to catch up with Robert Kornacki on a conference call about the impending launch of his Syre protocol that he says will make crypto payments less of a nightmare. He will be launching the tools so that developers can integrate it on their platforms soon.
Robert is a dLab research fellow working on a project to create a double authenticated invoice system for payments. I asked Robert what was the painpoint he was trying to solve and paraphrased his response.
“People have no transaction surety…when people send crypto to an address they are filled with anxiety since they press that button and hope that everything works and was sent to the right address.
Currently all the systems we use on are push based system. Users copy and paste the address and send their crypto. Its easy for users to do and developers to implement but many things can go wrong. There are malware and even user typos that can make the transaction go wrong,”
Yes, many users can understand this problem well. So how does Syre solve this painpoint?
“With Syre it is an invoice based protocol that verifies that the address that you are sending crypto to. You can prove that it is correct because you will receive an invoice that verifies it’s the correct address. Now that you have an invoice, you flip the risk from the sender to the receiver or invoice sender. With a two step system you now have two eyes to check that the address ownership is legitimate with little user input user needed. The best part is that Syre is tokenless and its agnostic with little bloat as possible.”
Rob sent me this quick FAQ on Syre.
FAQ
What Is Syre?
Syre is a tokenless agnostic invoice based protocol designed to make sending cr
What Is Syre?
Syre is a tokenless agnostic invoice based protocol designed to make sending easy and worry-free.
What Does Syre Actually Do For Me?
Syre proves that the address you send crypto to is the one you expect, minimizes risk to near 0, and limits the possibility for user input error to enter the picture.
Why Did You Create Syre?
Even after 10 years of the birth of , the space still hasn’t solved the Transaction Surety problem, and it’s causing users serious along with loss of money when things go awry.
Why Tokenless And Agnostic?
Syre has been designed to be agnostic and tokenless in order to bring the benefits of Transaction Surety to every user while enabling a cross- open source ecosystem to grow.
What Are Use Cases For Syre?
Whether you are making a p2p transaction or ordering something online, Syre provides a far superior user experience in nearly every context are used in today.
When And How Can I Try Syre?
Syre is going to be implemented in the by Summer 2019 and in Emurgo’s shortly thereafter.
To see the full interview with Robert with more details and explanations check out the video.
Full Interview with Robert Kornacki
To get an idea of an earlier stage of the project, here is an earlier post on Robert’ s Syre project
Syre website
Published at Thu, 09 May 2019 13:14:18 +0000
