Author: Jorge Timón 2015-04-28 07:23:53
Published on: 2015-04-28T07:23:53+00:00
The email thread discusses the concept of "proof of payment" in Bitcoin. The author asks how it differs from proving that a transaction is in a given block, which is what SPV nodes currently use as proof of payment. Various use cases are discussed, including sending a payment ahead of time and collecting goods after confirmations, using hot wallet software for authorized pickup, exporting spent keys to enable PoP to work as a gift claim, and third-party contingency services. The idea of using proof of payment to show that a transaction could be created is also explored. The issue of making these proofs permanently invalid transactions is raised to prevent reorganizations and the possibility of spending everything on fees. Possible solutions include changing the version number on the PoP or using a high lock_time. It is agreed that PoP is complementary to BIP70.
Updated on: 2023-06-09T18:27:57.106377+00:00