Author: Andrew Poelstra 2020-12-23 15:22:01
Published on: 2020-12-23T15:22:01+00:00
In a Bitcoin-dev forum, fiatjaf raised concerns over the implementation of version 2 in partially-signed Bitcoin Transactions (PSBTs), worrying about software compatibility issues between those that support version 1 and those supporting version 2. Andrew Poelstra responded by stating that although it is likely that software will have to support both versions of PSBT indefinitely, it is a "fact of life" that developers supporting older hardware wallets must deal with. Poelstra further explained that PSBT is a pure data format with a small difference between the old and new formats, making it easy to convert from one format to the other. He also noted that, at present, few software uses PSBT, and most are under rapid development; however, deployed hardware wallets would be an exception. Furthermore, he pointed out that PSBT 2 would eliminate practical limitations in PSBT 1, such as forcing certain things like locktimes and sequence numbers to be chosen by the creator without all relevant information. Additionally, Poelstra argued that PSBT 2's elegance reasons would make it easier for future protocol changes and extensions. Lastly, he provided a link to an article discussing rules for standards makers.
Updated on: 2023-06-14T16:30:31.301204+00:00