Author: Sjors Provoost 2017-12-18 11:26:19
Published on: 2017-12-18T11:26:19+00:00
The Bitcoin-dev mailing list discussed the possibility of using a DNS-like decentralized mapping service to provide a user at crypto address. Douglas Roark shared his experience of working with Armory and Verisign on a similar project a few years ago. He shared a draft that could be turned into something useful and was able to leverage BIP32 and allow payment requests to be generated that automatically pointed payees to the correct branch. Sjors proposed combining this with BIP-47 to associate payment codes with email via DNS. They suggested getting rid of the announcement transaction in BIP-47 and establishing a shared secret out of bounds. The sender could then email the recipient the information they need to retrieve the funds, and the first transaction could have a time-locked refund in case the payment code is stale. DNSSEC may have some issues, but it remains the easiest way to bootstrap identity to a common, reasonably secure standard.
Updated on: 2023-06-12T22:27:39.222182+00:00