Author: Eric Voskuil 2017-06-20 07:03:43
Published on: 2017-06-20T07:03:43+00:00
The Bitcoin Improvement Proposal 37 (BIP37) is a client-server scenario wedged into a peer-to-peer network, presenting a long list of problems. The design flaw cannot be completely eliminated by reproducing it. Node operators are not likely to support wallets apart from their own. There are many independent, securable, client-server interfaces available as community servers for use at no charge. A secured personal node/server can support remote mobile wallets with security, privacy and no wasted bandwidth. Full node wallets are important, and avoiding counterproductive increases in blockchain growth rate will eventually allow full nodes to run on mobile platforms with no difficulty whatsoever. Wallets that delegate full validation to node operators are a centralization pressure that the Bitcoin community does not need. Jonas Schnelli believes that privacy is important and that developers should make sure that users have it. Today's SPV wallets should make users more aware of the possible privacy implications. Many users may not be aware that when they pay for a good in a shop while consuming the shop's WIFI, the shop-owner and ISP can use that data to combine it with the user profile, including all future purchases made with the same wallet in any location online or in-person. ISPs, including Google, can link the used Bitcoin wallet, including credit-card data, with the well-known user profile and sell the Bitcoin data to any other data mining company. If BIP37 is used, transaction history, including transactions in the future, will be given to everyone. Users may not be aware of this, and client-side filtering is not a drop-in replacement for today's smartphone SPV-model.
Updated on: 2023-06-12T01:30:45.278925+00:00