Author: Srintuar 2018-10-19 00:29:42
Published on: 2018-10-19T00:29:42+00:00
The proposal is for a BIP writeup that provides a backward compatible URI scheme to aid with segwit adoption by online stores and merchants. The purpose of this scheme is to allow all users to easily make payments from any wallet, without allowing backward compatibility to be a barrier to segwit adoption. A merchant can preferentially receive payments to a bech32 address while allowing older clients to make base58 encoded payments. The proposal includes an ordered list of preferred addresses as alternatives to the address field from BIP21, with the list ordered from most preferred to least, and the BIP21 address implicitly last. Senders should send to the first address which they know how to send to. The proposal also includes a simpler syntax with the bitcoin address and other fields as well as examples. There are no Bitcoin clients reference implementations yet. An alternative proposal is also provided; it suggests just including the desired script itself, encoded as hex. However, there are several cons to this approach, including the absence of address encoding features such as checksum and network identification and the risk of funds loss if the script is spendable but incorrect. Overall, the proposal aims to facilitate seamless segwit adoption while ensuring backward compatibility.
Updated on: 2023-05-20T17:57:27.722153+00:00