Author: s7r 2015-05-15 09:54:55
Published on: 2015-05-15T09:54:55+00:00
Christian Decker, a Bitcoin developer, proposed a new Bitcoin Improvement Proposal (BIP) to address transaction malleability and simplify higher level protocols. The proposal is to normalize transaction IDs by creating an alias used alongside legacy transaction IDs to address outputs in transactions. This normalized ID is calculated by removing the scriptSig before computing the hash, ensuring that only data whose integrity is guaranteed by the signatures influences the hash. Validating clients supporting this BIP would use both the normalized tx ID as well as the legacy tx ID when validating transactions. Decker acknowledges that this proposal requires a hardfork but believes it would be a valuable addition to Bitcoin's functionality and solve a long-standing problem. The proposal is not set in stone, and improvements can be made. However, he did not include details on how the hardfork is to be done, as it does not matter, and a mechanism may be developed to apply multiple hardforks concurrently in the future.
Updated on: 2023-06-09T20:56:04.798010+00:00