Author: Luke Dashjr 2015-06-06 15:18:18
Published on: 2015-06-06T15:18:18+00:00
In an email conversation, Kalle Rosenbaum discussed the current methods of proving a payment. Signing messages with the private keys used to sign the transaction is one such method that can meet some requirements, but lacks standardization and security. A new method called Proof of Payment (PoP) was proposed to prove ownership of the credentials needed to unlock all inputs in a transaction. The PoP has the same structure as a Bitcoin transaction, with the addition of an OP_RETURN output at index 0. However, this compatibility with Bitcoin transactions may have negative implications for CoinJoin. To avoid this issue, using an invalid opcode instead of OP_RETURN may be more appropriate. Blockstream's contracthashtool is suggested as a possible solution.
Updated on: 2023-06-09T22:20:32.557139+00:00