Author: Kalle Rosenbaum 2015-04-22 20:03:47
Published on: 2015-04-22T20:03:47+00:00
Kalle Rosenbaum has developed a Proof of Payment (PoP) method that aims to enable people to prove they have made a payment in various scenarios. The method can create PoP for any payment, regardless of script type, and generate PoP on demand. It should only be usable once to avoid issues due to theft. Desirable properties include proving ownership of the credentials needed to unlock all the inputs of the bitcoin transaction. However, there are security issues surrounding the process such as interception of the PoP-request and changing the destination. Someone could steal a PoP and try to use the service hoping to get a matching nonce. The probability per attempt is 1/(2^40). To address this issue, the server should have mechanisms for detecting a brute force attack of this kind, or at least slow down the process by delaying the PoP request by some 100ms.In addition to developing the PoP method, Kalle Rosenbaum shared a proposal for improving the efficiency of Bitcoin's network communication via an email to the Bitcoin-development mailing list. The proposal suggests using a "compact block relay" method that would reduce the amount of data that needs to be transmitted between nodes when new blocks are added to the blockchain. Rosenbaum provides a detailed explanation of how the method works and highlights potential benefits such as reducing orphaned blocks and improving block propagation times. Moreover, Rosenbaum invites comments and feedback from the community regarding his proposal. He includes a link to the Go Parallel Website, sponsored by Intel and developed in partnership with Slashdot Media, which serves as a hub for all things related to parallel software development. The email concludes with additional links to the Bitcoin-development mailing list and its subscription page.
Updated on: 2023-06-09T18:29:18.540177+00:00