Author: Gavin Andresen 2012-11-26 22:37:31
Published on: 2012-11-26T22:37:31+00:00
The Bitcoin development community is currently considering several new features for the digital currency. One of these features involves a proposed switch from JSON to binary format, which would allow for more efficient and secure data transfer. Additionally, a new merchant-pays-fee feature is being considered, which would enable merchants to cover the cost of transaction processing fees. There are three proposed ways to implement this feature, including adding a 'maxfee' field to the invoice, changing transaction selection code used by Bitcoin miners, and signing Payment.transactions[0] using the SIGHASH_ANYONECANPAY flag.Another proposed protocol for Bitcoin transactions involves the use of protocol buffer-based formats for signed, authenticated "invoices" and "receipts." Invoices are requests for payment from a merchant to a customer and include outputs where Bitcoins are to be sent. The invoice must contain one or more DER-encoded X.509 certificates that identify the merchant, validated by certificate chain according to [RFC5280]. Authenticated identities are tied to invoices, which include a description of what the payment is for, where refunds should be sent, and hold a cryptographically signed receipt that could be used as proof-of-payment if there is any dispute with the merchant. Merchants will use this proposal in their checkout process, while customers will receive SignedInvoice and authorize payment, creating the Payment message, which will be submitted directly to the site's payment URI.Once the payment transaction is validated, it is broadcasted, and the SignedReceipt is returned with either a "You win" or "You lost" memo. Additionally, the Bitcoin development community is exploring the possibility of checking for revoked certificates using the Online Certificate Checking Protocol (OCSP). However, there are concerns about the effectiveness of this approach, as it may result in long pauses or false-positive rejections if the OCSP endpoint is offline or overwhelmed.
Updated on: 2023-06-06T08:42:02.105851+00:00