Author: Tom Harding 2017-03-15 22:36:09
Published on: 2017-03-15T22:36:09+00:00
In a discussion on bitcoin-dev mailing list, Jonas Schnelli suggested that merchants can use watch-only mode and co-use a wallet-service with centralized verification if they cannot run their own full-node. Chris Priest proposed connecting to the mempool of each miner to check if they have the transaction id in their mempool and suggested this as an example of mining centralization increasing the security of zero confirm. However, BIP37 is considered totally decentralized and it can be made more secure, private, and scalable without giving up the utility of unconfirmed transactions. It is important not to read into this statement a belief that all the coffees should go on the chain or that the security or privacy of BIP37 compare favorably to any other particular thing. A presentation on BIP37 can be found at the link provided.
Updated on: 2023-06-11T04:55:50.824639+00:00