Reusable payment codes



Summary:

In a recent post on Reddit, it was revealed that ~70% of transactions reuse addresses due to previous ECDH address proposals not being designed around current software. Luke Dashjr expressed concern about the "notification address" requirement, as it entails address reuse and blockchain spam. Instead, he suggested a single zero-value OP_RETURN output with two pushes: a hash of the recipient's payment code and the encrypted payment code. Justus Ranvier acknowledged that this portion of the proposal is not ideal, but stated that one of the main goals is to be usable on as many mobile/light wallets as possible. Luke Dashjr argued that BIPs should not be designed around current software and that software upgrades are necessary regardless.


Updated on: 2023-06-09T19:16:39.265733+00:00