Over lock down a mate (I’m a back end dev, he’s more database minded) and I have been building a payment app using BTC. He loves BTC. I’m an XRP fanboy.
Then I got my head into iLP.
I am trying to convince him that iLP is the future, BUT I’ve gaps in my knowledge… anyone care to help dis-spell some myths in my head?
Where the new PayID is a nice human readable address for sending Token to the same token ONLY (?) iLP is sending token X and receiver getting Token Y… is that correct?
If I wanted to accept payments on a webpage or web app, can I share a single iLP address that anyone in the iLP world can send to, and ‘trust’ that it’ll find its way to to a wallet I have told iLP to deposit to?
At what point in the payment chain, does iLP kick in so to speak.
EG: I’ve got ETH on BitStamp. I want to send $100 worth of it to a mate who is an XLM fan.
I don’t get how and when the iLP part kicks in and my ETH ‘becomes’ XLM. Is there a ‘iLP for dummies’ guide anywhere?
I think that’s it, I’ve loved learning what I have, though I think I HAVE to learn node.js pretty soon! (I’m a PHP dev… sorry!)