Author: Ariel Lorenzo-Luaces 2019-10-11 04:22:03
Published on: 2019-10-11T04:22:03+00:00
The proposal is to use the term "Funding Codes" as a replacement for the current term "address" in Bitcoin transactions. The word "funding" can be used as both a verb and a noun, which works well with Bitcoin transactions. Meanwhile, the word "code" fits perfectly since addresses describe the signature script, which is a piece of code. Payment tokens, invoices, and addresses were also considered but had their respective issues. Funding codes work better when thinking about self-executing smart contracts, which are funded and running code with funds. Lightning already has "funding addresses" and "funding transactions," and with schnorr and taproot coming, more complex situations will require funding codes. The term "Funding Codes" sounds good when spoken, has two words and three syllables, and can easily be abbreviated as "code." People will naturally use funding code and bitcoin code interchangeably, which is a good thing because bitcoin is a type of fund, so there is no contradiction.
Updated on: 2023-06-13T21:53:23.993548+00:00