Published on: 2012-10-02T22:52:23+00:00
In an email exchange from 2012, Mike Hearn suggested using the SSL identity of the server in a protocol as a solution to a problem, but noted that further measures would be needed. The idea of signed invoices and blockchain transactions was also discussed, with the caveat that dispute mediation should be in place. The importance of proving faultlessness to prospective customers was highlighted, even without formal direct remedy.The author suggests brainstorming different feature ideas for a robust design. Bitcoin addresses alone are insecure against man-in-the-middle attacks, so embedding a signature and cert chain into the invoice could help solve this issue. Allowing multiple sigs/cert chains keeps the design open to cases where SSL may not be appropriate. Having a receipt that proves following the payee's instructions after payment is important. A signed invoice and blockchain transactions can provide this, but dispute mediation should also be in place. The author proposes a protocol for gathering signatures from multiple devices to enhance the basic payment protocol.In another email exchange, the issue of double-spending was brought up. It was mentioned that approximately 3-5% of initial Bitcoin Foundation members had double-spent. Clarification was sought regarding whether this meant paying twice or sending the same coins elsewhere after sending them to CoinLab. It was confirmed that it meant "sent twice" but no double-spends were known.The Bitcoin Foundation disclosed that 3-5% of its initial members double-spent due to a UI issue in web wallets. Gavin Andresen agreed on the need for a payment protocol to address issues such as securing bitcoin addresses and providing receipts. He suggested including refund information with payments to handle overpayments efficiently. A protocol for gathering signatures from multiple devices was proposed to enhance financial controls. However, critical problems should be solved first before addressing other issues.A payment protocol is needed to solve current Bitcoin user problems. Critical issues include the insecurity of Bitcoin addresses against man-in-the-middle attacks, which can be addressed through a payment protocol ensuring donation link authenticity. Receipts should be issued after sending payments. A protocol for gathering signatures from multiple devices is also suggested. Including refund information with payments can handle overpayments and refunds efficiently. Other features can wait for later protocol versions.The context discusses the requirements for a payment protocol that offers better privacy and security. Moving towards "uploading transactions" instead of "sending BTC to an address" is proposed. This would balance hot and cold wallets, enable multi-sig scripts, and offer better privacy by unlinking separate transactions. Other desirable features include SSL certificates, optional expiry times, messaging options, and more. Protocol buffers are suggested over JSON for easier code implementation.Overall, the context highlights various discussions and proposals related to improving the security, privacy, and functionality of Bitcoin payments through the implementation of a robust payment protocol.
Updated on: 2023-08-01T03:57:41.236430+00:00