Published on: 2014-07-15T16:26:15+00:00
There are discussions among Bitcoin core developers regarding the limitations and insufficiency of the payment protocol in certain scenarios such as on-going payment streams and deposit addresses. While the payment protocol satisfies some use cases, there is a need to address situations where it is not feasible or suboptimal. Jeff Garzik suggests that deposits can use unique payment requests or addresses every time, especially when HD wallet details have been negotiated.There is a disagreement regarding transactions using the same Bitcoin address more than once. Luke Dashjr points out that wallets and services can already ignore such transactions, but Jeff Garzik argues that few users would appreciate their deposits being ignored. He also highlights that the payment protocol does not cover certain use cases such as on-going payment streams and deposit situations.The idea of limiting the lifetime of a Bitcoin address is suggested by Jeff Garzik. This would prevent bitcoins from being sent to an expired address. The best insertion point in the protocol for key expiration is still being discussed. Garzik believes that preventing accidental sending to an expired address, discouraging address reuse, and enabling sites to rotate ancient keys off their core systems are valuable features. However, it is noted that making transactions invalid based on specific scriptPubKey could potentially invalidate a chain of transactions during a reorg.There are also discussions about the possibility of Payment Protocol being used as the communication format for new metadata on the blockchain. This protocol aims to address scalability and efficiency challenges by providing a standardized set of messages for data exchange. While there are challenges that need to be addressed before its implementation, initiatives are already underway to make it happen.In conclusion, the discussions among Bitcoin core developers revolve around the limitations of the payment protocol, the need to address specific use cases, and the potential implementation of Payment Protocol for data communication on the blockchain. Ideas such as using unique payment requests or addresses, limiting the lifetime of Bitcoin addresses, and adopting Payment Protocol are being considered to improve the functionality and adoption of Bitcoin technology.
Updated on: 2023-08-01T09:42:22.329146+00:00