Author: Clark Moody 2022-06-29 22:33:26
Published on: 2022-06-29T22:33:26+00:00
A new payment code standard proposal is being put forward that builds on the idea of payment codes under a new BIP with some principal differences. The proposed standard will allocate a 2-byte bitflag array that will signal address/script types that the receiver is deriving. Notification transactions still exist, but no longer leave a privacy footprint on the blockchain. Payment code versioning is no longer done because it creates the potential for fragmentation and disparate standard updates by different parties that don't follow the BIP process. The owner of a code could demand that a notification transaction meets some minimum miner fee or a multiple of some trailing average as an anti-spam measure.
Updated on: 2023-06-15T22:17:22.255085+00:00