Author: Chris D'Costa 2014-03-31 11:14:49
Published on: 2014-03-31T11:14:49+00:00
The security of transmission of person-to-person pay-to addresses is being addressed through a decentralised ledger of "device keys" on a hardware wallet. These keys are not related to Bitcoin keys and do not identify the human owner, but they provide advanced knowledge of a public key for encrypting a message without a third-party CA or prior dialogue. This allows for secure communication of pay-to addresses to an intended recipient. The ledger is referred to as a "distributed ledger of device keys" and could be seen as a re-imagining of the web-of-trust concept. Time is used in the reverse sense to establish the version of the truth by having advanced knowledge of all pubkeys. The system could easily check its own record to identify problems on the ledger. A user on bitcointalk proposed a use case for vanity addresses using WoT, but it was pointed out that centralized storage on forums is not secure, and signed messages could be swapped easily with the next hack of the forums. Webfinger may be part of a solution where servers of a business can tell and prove ownership of a specific address.
Updated on: 2023-06-08T18:04:32.094642+00:00