Coinbase and CloudFlare have announced the creation of the X402 Foundation, an entity dedicated to promoting the X402 standard, an open protocol for actual payments between artificial intelligence agents.
The foundation’s idea is to establish neutral governance and encourage the adoption of payment standards.
This announcement comes amid the growth of AI-enhancing applications, such as Google A2p, which also works with Coinbase. With the aim of integrating safe transactions without traditional human intervention. Tether is also working on a system of autonomous agents integrated into the wallet, as we report in Cryptootics.
According to the official Coinbase blog, the alliance aims to “build payment protocols that work without issue in the platform, industry and region.” CloudFlare has already integrated X402 into his beta «Pay for each crawl«, a scheme that allows deferred payments for access to web data and demonstrates the practical viability of the standard.
The X402 standard based on the “Payment Required” status code in HTTP 402 allows direct transaction of web interactions. This allows agents and applications to exchange monetary value with fluids in a programmable way. It’s similar to how data is transferred.
Essentially, it converts payments into native web elements and is compatible with workflows such as micropugs with USDC. This standard is trying to achieve the same thing and same thing as SO -Caleded Web3: Open Internet, Fluid, and Connected in Connected in The Integrative Layer. However, 402 Standard focuses on automation, placing itself as a possible improved version of Web3.
As reported by Cryptootics, X402 responds to the evolution of the web towards the “agriculture” interaction. Here, AI acts as an intermediary in transactions. The creation of the foundation calls for the X402 to be a public, open, decentralized good.
(tagstotranslate)coinbase
