Author: Daniel Rice 2014-06-16 20:29:54
Published on: 2014-06-16T20:29:54+00:00
The author is contemplating how to encourage more instant signature providers and avoid the VISA monopoly. The idea is to allow multiple instant signatures on a transaction, which would allow new instant providers to bootstrap their own trust by paying an already trusted provider to co-sign the same transaction. This would be useful in the case of a new company releasing a new wallet once the trust ring is already established. By paying a small amount per transaction to a third party to co-sign, they can build trust in their own signature until they can eventually have enough trust on their own. Mike Hearn responds that while many may feel it's better if this kind of thing were not needed at all, the best way to ensure it doesn't end up being used is to write code, not to try and block alternative approaches. If Bitcoin is robust, the market should sort it out. He suggests keeping the discussion focused on the BIP itself and if individuals want to debate the future of Bitcoin, they should start a new thread.
Updated on: 2023-06-09T00:00:24.250117+00:00