Author: Mike Hearn 2014-04-02 12:01:51
Published on: 2014-04-02T12:01:51+00:00
In this email conversation between Chris and Daryl, the topic of BIP70, a payment protocol for Bitcoin transactions, is discussed. Chris suggests that creating an alternative to BIP70 would not be worth the effort since BIP70 is a simple implementation of certificates inside a protobuf. Daryl responds by suggesting that using a different address for each transaction can be achieved through a one-off peer-to-peer transaction, but it is likely that most transactions will still be handled by BIP70 due to its convenience. In response to Chris's concern about verifying signatures, Daryl explains that his proposal leverages the existing SSL key system which has a reasonable expectation that if the signature verifies, it came from the party indicated on the certificate. He argues that while SSL has its faults, the recent problem with fake keys for Gavin Andresen was a fault of WoT, not PKI, and compromised web servers can already cause payments to be made to the wrong party. Overall, Daryl believes that PKI is a pragmatic solution to verifying signatures in Bitcoin transactions.
Updated on: 2023-06-08T18:01:17.296835+00:00