Author: Peter Todd 2014-01-13 20:14:08
Published on: 2014-01-13T20:14:08+00:00
In this email conversation, Alan Reiner is proposing a payment scheme where the root public key of a BIP32 branch is distributed, but not the chaincode. When someone wants to pay, they are given the multiplier and root key, and the final address can be confirmed as derived from the root key belonging to the receiver. The advantages of this scheme over stealth addresses are questioned, as stealth addresses use the blockchain as a low or no overhead communication channel for the sender to give the receiver the multiplier without bidirectional communication. Peter Todd argues that the problem with WoT is that if the BIP32 branch payment information is put into an OpenPGP key, it cannot be paid securely and reliably without making the transaction public. On the other hand, stealth addresses allow for a simple user experience and provide an advantage over nonce-based schemes in terms of privacy.
Updated on: 2023-06-07T23:40:57.888399+00:00