Author: Kalle Rosenbaum 2015-03-13 19:29:42
Published on: 2015-03-13T19:29:42+00:00
The author has proposed an idea called Proof of Payment (PoP) to prove that a payment has been made. Various use cases where it would be beneficial to provide proof of payment have been listed, such as a pre-paid hotel room, online video rental service, ad-signs, and lotteries. The author has also outlined the desirable properties of PoP, including generation on demand, single-use to avoid theft issues, and creation for any payment regardless of script type. Current methods of proving payment, such as BIP0070 and signing messages with private keys, have been discussed. The author then introduces the data structure and process for PoP, which includes generating a request from the server to the wallet, identifying the transaction and creating an unsigned PoP, signing the UPoP to create PoP, sending PoP to the destination and validating it. The format of PoP and security issues have also been addressed, including potential interception of PoP requests, stealing of PoP, and keeping the security of wallets after they have been emptied. Further work to be done includes figuring out how to extend BIP0070 for PoPs, defining an extension for BIP0021 to support PoP requests, implementing a proof-of-concept, and proposing BIPs for the different parts.
Updated on: 2023-06-09T18:28:10.966673+00:00