๐Pull Payments Flow
Last updated
Last updated
Here's a breakdown of the sequential actions taken by the receiver and sender to facilitate a smooth transaction:
Transaction List Compilation:
Generates a list encompassing detailed transactions.
Specification: Primarily token transfers leveraging ERC (or corresponding token standards) protocols.
Payment Request Configuration:
Instigates a PaymentRequest
object derived from the transaction list.
Incorporates transaction metadata such as token type, quantity, and intended beneficiary.
Uses a private key to digitally sign the request, confirming its authenticity.
Engagement with the Fetcch Network:
Transmits the PaymentRequest
to the Fetcch Network using a designated API endpoint.
Consensus Phase: The network conducts a swift consensus check to prevent any unauthorized actions.
Data Storage: Initially, the request is archived in a local distributed repository.
On-Chain Integration: Post verification, the request is bundled with similar ones and inscribed onto the target blockchain, ensuring efficient fee management.
Notification to Sender:
Sender (Initiator) is notified of the payment request through one or more of the channels, listed below
Push Mechanisms: Utilizing Google/Apple Notification Services.
Server Intercommunication: Deploying webhooks for seamless server-to-server relay.
Synchronous Communication: Through websockets ensuring real-time notification dispatch.
Payment Request :
Captures the incoming alert regarding the payment request through designated notification channels.
Extracts and deciphers the PaymentRequest
payload to assimilate the transaction prerequisites.
Authentication and Authorization:
Confirms the details and signs the transactions on the blockchain.
Transaction Confirmation:
Upon successful validation and recording of the transaction on the blockchain, a transaction hash is generated as a unique identifier.
Updates the payment request with the generated transaction hash
Integrity Verification: Fetcch's backend compares the transaction hash with the original PaymentRequest
to validate the asset exchange and to preclude any unauthorized alterations.
Notification Dispatch to Receiver:
Receiver is notified of the completion of the payment request through one or more of the channels, listed below
Push Mechanisms: Utilizing Google/Apple Notification Services.
Server Intercommunication: Deploying webhooks for seamless server-to-server relay.
Synchronous Communication: Through websockets ensuring real-time notification dispatch.