Published on: 2018-02-19T20:11:56+00:00
In a recent post on the bitcoin-dev mailing list, a user raised an interesting question regarding the possibility of encrypting data in Bitcoin transactions in such a way that only the intended recipient can access it. The user specifically emphasized the need for a solution that does not require exchanging information off the network. In response to this query, a suggestion was made that if the recipient's address had already disclosed or shared their public key with the sender alongside the address, the sender could potentially encrypt the message using Elliptic Curve Cryptography (ECC) and the recipient's ECDSA key.Theoretically, this approach seems feasible as both ECDSA and ECC utilize the same kind of public/private key pair. However, the practicality of this method remains uncertain due to concerns about whether nodes would broadcast a non-standard transaction of this nature. The email also touched upon the possibility of utilizing a sidechain or RSK (Rootstock) for encryption purposes. These alternative solutions might offer more flexibility and support for encrypted transactions.The original post not only sought answers to the technical feasibility of encrypting text data within Bitcoin transactions but also highlighted the writer's concrete use cases for such encryption. Additionally, the writer encouraged other members to share their ideas and suggestions on this topic. With the potential benefits of secure, on-chain encryption in mind, this discussion opens up possibilities for innovative applications within the Bitcoin ecosystem.
Updated on: 2023-08-01T22:45:16.666021+00:00