There are 3 parts to this protocol solution:
- Generic URI Scheme: A new expressive URI scheme that can custom-reference any Bitcoin app protocol object on the blockchain.
- Decentralized Router: A decentralized routing engine that maps the generic URI scheme to real world service providers who implement each protocol, using Bitcom.
- Authentication: A two-way mechanism to connect service endpoints to the router with provable ownership and affiliation, using Bitcoin Sticker protocol.
We are on the verge of an explosion of Bitcoin application protocols. But to realize their full potential, the protocols need an easy way to reference one another through a common URI scheme, creating a native network effect.
There have been attempts at creating URI schemes like B:// and C://, but they are each limited to their own specific use cases. Also, trying to come up with a new URI scheme for every new protocol is unsustainable and will require a centralized committee that manually curates the global protocol namespace. This is not ideal.
What is needed is a generic URI scheme that has the expressive power to reference any Bitcoin application protocol, and a global decentralized router that can resolve the URIs to relevant service providers in a frictionless and automated manner.