Author: Alan Reiner 2011-11-10 12:56:45
Published on: 2011-11-10T12:56:45+00:00
The purpose of BIP 0010 is to create a standard that developers want to adopt for multi-signature transactions. The proposal offers an excellent solution before they've started asking the question, which encourages adoption. While Michael Grønager expressed concerns about introducing other protocols, Alan Reiner believes that it is necessary to offer this solution before developers start asking the question of how to do it since all out-of-band solutions require encoding this exact information. The inclusion of txout scripts in txin scripts makes it critical for adoption as it works for the most lightweight clients. This doubles as a convenient way to do offline wallets/signing when transporting a large blockchain is not feasible. JSON could be used for dynamic information with lots of optional fields, but this information is fairly static, and the core benefit follows PGP messages: compact, easy-to-identify blocks of text. While there may be multiple competing ways to do something, BIP 0010 seeks to solve a straightforward problem, and there's not a lot of variety in the solutions that could compete against it. It is fairly optimal as a building block for higher-level protocols. If anyone has ideas for why someone would want to create a competing idea to BIP 0010, it can just be added to BIP 0010.
Updated on: 2023-06-04T21:14:06.164970+00:00