diff options
Diffstat (limited to 'frags/taler-payment-cycle.rst')
-rw-r--r-- | frags/taler-payment-cycle.rst | 10 |
1 files changed, 5 insertions, 5 deletions
diff --git a/frags/taler-payment-cycle.rst b/frags/taler-payment-cycle.rst index 4243b462..9c7d1302 100644 --- a/frags/taler-payment-cycle.rst +++ b/frags/taler-payment-cycle.rst @@ -7,7 +7,7 @@ The Taler payment cycle involves six parties: (f) merchant's bank. The exchange is the central entity that mediates the wire transfer of real -currency between (d), (e), (f) by way of "coins", cryptographically secure +currency between (d), (e), (f) by way of *coins*, cryptographically secure tokens passed between (a), (b), (c). There are six steps to a Taler payment cycle. @@ -16,10 +16,10 @@ In step 1, (a) directs (d) to make real funds available to (b). In step 2, (d) does a wire transfer of real funds to (e), fulfilling the request from step 1. (b) generates coins corresponding to those real funds; -these are called the "reserve". +these are called the *reserve*. -In step 3, (a) "withdraws" coins, either wholly or partially, from (b). These -coins are kept in a "wallet" under control of (a). The coins in the wallet +In step 3, (a) *withdraws* coins, either wholly or partially, from (b). These +coins are kept in a *wallet* under control of (a). The coins in the wallet are anonymous. In step 4, (a) authorizes payment of coins from the wallet to (c). This @@ -27,7 +27,7 @@ transfers payment coins from the wallet to (c), and change coins from (b) to the wallet (unless the payment amount exactly matches the denomination of the coins in the wallet). -In step 5, (c) "deposits" coins into (b). These coins are still anonymous, +In step 5, (c) *deposits* coins into (b). These coins are still anonymous, although the transaction itself is not anonymous. In step 6, (b) directs (e) to wire transfer real funds corresponding to the |