Author: Jeff Garzik 2014-04-01 11:32:41
Published on: 2014-04-01T11:32:41+00:00
The message discusses a technology that utilizes decentralized ledger of “device keys” for secure transmission of person-to-person pay-to addresses. These keys are not related to Bitcoin keys and do not attempt to identify the human owner of the device, but they provide advanced knowledge of a public key that can be used for encrypting messages without prior dialogue. The technology is referred to as the “distributed ledger of device keys” or the “Web-of-trust re-imagined”. The technology ensures that the public ledger reflects the latest updates, and a stream of changes over time is secured by Bitcoin technology. A log-like stream of changes is not the only way to update the ledger, but other methods need less hand-wavy details before they are well recognized as useful. There is a lot of computer science involved in making sure the public ledger is not an outdated view. Keys expire or are compromised, and the public ledger needs to reflect that. The discussion also mentions a use case where users would like to have their vanity addresses available for others to find and verify ownership over a kind of web of trust. However, the centralized storage in forums is not secure and signed messages could easily be swapped with the next hack of the forums.
Updated on: 2023-06-08T18:03:29.698998+00:00