Author: slush 2012-11-29 08:16:31
Published on: 2012-11-29T08:16:31+00:00
A group of individuals are currently working on a Bitcoin hardware wallet. The device is pocket-sized and includes 256kB flash and an 80 MHz CPU, with communication to the computer occurring via USB. Transactions will be prepared on the machine and sent to the device, which then displays the target address for the user to confirm by pressing a button. Since the device aims to make Bitcoin payments safe even on hacked computers, the team is implementing SPV so that the device doesn't need to trust the computer with any information. The biggest issue at present is that users cannot be sure that the address displayed on their computer screen is correct, making it challenging to confirm whether it is valid or not. While there is no solution for this problem yet, the group appreciates the activity in payment protocol development as it could help solve this problem. A simple payment protocol that can be implemented even on devices like the one they are creating would allow devices with a few widely-used certificates stored in memory to display the invoice's origin and confirm its validity.
Updated on: 2023-06-06T08:45:50.011089+00:00