Author: Roy Badami 2013-03-25 20:49:11
Published on: 2013-03-25T20:49:11+00:00
In 2013, a Bitcoin developer named Roy suggested the implementation of a big key compromise button for Bitcoin that would automatically transfer all coins to newly generated addresses. However, Andrew Poelstra raised concerns about this idea as it could lead to an attacker identifying which public key is in use and believed to be compromised. Consequently, Roy realized that what he wanted was not automatic transmissions but rather a means to revoke an address. He proposed an address revocation protocol that would give clients an error if their user tries to send coins to a revoked address. Roy did not suggest changing the rules to make transactions to revoked addresses invalid but instead suggested an overlay protocol. This functionality could belong in the payment protocol, but Roy remained unconvinced of that. The protocol would have to be universally implemented by clients to be useful.
Updated on: 2023-06-06T10:13:28.025603+00:00