Published on: 2017-12-19T13:11:24+00:00
The Bitcoin community has been discussing the possibility of a store-and-forward server that would allow users to trade privacy for convenience. This proposed solution, similar to BIP75, would allow users to use an email address as their account instead of a single Bitcoin address or xpubkey. While some members of the community express concerns about the security risks associated with the addition of DNS, others find it intriguing and believe it could be developed into something useful, especially when combined with BIP32 and BIP-47.The idea is to develop a Bitcoin wallet with an integrated name to address mapping feature, potentially based on Bitcoin Core. This mapping feature could include names, strings, and email addresses. However, relying on an additional service like DNS does introduce availability risks. It has been suggested that combining this mapping feature with BIP-47 could be beneficial, as payment codes could be associated with email addresses via DNS. The sender could then email the recipient the necessary information to retrieve funds, and the first transaction could have a time-locked refund in case the payment code becomes stale.The concept of a DNS-like decentralized mapping service for cryptocurrency addresses has been discussed on the bitcoin-dev mailing list. Douglas Roark shared his experience of working on a similar project with Armory and Verisign, which leveraged BIP32 to generate payment requests that automatically directed payees to the correct branch. Sjors proposed combining this with BIP-47 to associate payment codes with email addresses via DNS. The Open Alias project was recommended as a resource for further exploration.Lucas Clemente Vella expressed that a certain feature, which he believes has great potential, did not gain widespread adoption. He mentioned Namecoin as an alternative, as it aimed to build a decentralized domain name system (DNS) similar to Bitcoin's blockchain. Mandar Mulherkar questioned whether a DNS-like decentralized mapping service could provide user-friendly crypto addresses instead of long wallet addresses. OpenAlias.org was suggested as a possible solution.A new member of the bitcoin-dev community, Mandar Mulherkar, proposed the creation of a DNS-like decentralized mapping service for cryptocurrency addresses. This would allow users to input human-readable addresses that can be converted into wallet addresses by software. The original altcoin, Namecoin, attempted to build a similar system but did not gain widespread adoption. The user requested guidance on where to research this concept further.Another proposal for a DNS-like decentralized mapping service for crypto addresses was discussed on the bitcoin-dev mailing list. Armory and Verisign had previously attempted such a project, leveraging BIP32 to generate payment requests that directed payees to the correct branch. Douglas Roark considered this an interesting draft that could be developed further, with DNSSEC as a means to bootstrap identity to a common, reasonably secure standard.Mandar Mulherkar expressed curiosity about whether a DNS-like decentralized mapping service could provide user-friendly crypto addresses instead of long wallet addresses. The idea is to simplify the adoption process by eliminating the need for long strings or QR codes. One responder recommended WalletNames.com, which provides users with a human-readable name that can be mapped to their cryptocurrency address.In summary, there have been discussions within the Bitcoin community about the potential of a DNS-like decentralized mapping service for cryptocurrency addresses. This would enable users to input human-readable addresses that could be converted into wallet addresses by software. While some projects have attempted this in the past, there are ongoing efforts to explore and develop this concept further. Resources like Open Alias, Namecoin, Blockstack, and WalletNames.com have been suggested to research and potentially implement this idea.
Updated on: 2023-08-01T22:13:01.316898+00:00