According to online reports, Coinbase Developer Platform announced the launch of a new open source payment protocol x402, which aims to activate the Internet's long-term non-enabled HTTP 402 status code "Payment Required" and transform it into a true on-chain payment layer, suitable for API service providers, content creators, and context protocols. x402 allows servers to request payments, clients (including human and intelligent agents) to respond instantly, and supports micro-payments and pay-per-view, eliminating the need for cumbersome subscriptions. Coinbase said that the agreement is expected to simplify the Web3 payment process and provide new infrastructure for proxy economy and on-chain services. Currently, x402 is open source and developers are welcome to participate in the joint construction.