Author: Tamas Blummer 2014-03-28 13:18:10
Published on: 2014-03-28T13:18:10+00:00
In an email conversation between Tamas Blummer and Mike Hearn, Tamas suggests the need for a payment channel for businesses to handle salaries, instead of payment requests and refunds. He proposes that once the channel is established, multiple payments can be made back and forth between counterparties until the business relationship is assumed. The customer can then explicitly close the channel when he no longer expects payment. Mike raises concerns about the expiry field for PaymentRequests in BIP 70, which allows payments to stop being recognized after a certain point, but there is no equivalent for refund addresses. He suggests adding a new refund field that embeds a PaymentDetails structure instead of just being a list of outputs to address this issue. Alternatively, a wallet-specific swapping process could be used to calculate Bloom filters without all keys being held in memory at once, thus allowing for "infinite" wallets. However, key expiry seems fundamental to scalability.
Updated on: 2023-06-08T16:51:04.602499+00:00