Published on: 2019-10-17T19:28:44+00:00
In a recent email thread on the bitcoin-dev mailing list, there has been discussion about finding a better term to replace the current term "Bitcoin address" in Bitcoin transactions. The use of the term "bitcoin invoice address" coined by Chris Belcher has received positive feedback from members of the community, as it is easily translatable into other languages and holds relevance in the context of generating invoices for Bitcoin transactions. The adoption of language that is easily understood by the masses is seen as crucial for widespread acceptance of cryptocurrencies like Bitcoin.The proposal suggests using the term "Funding Codes" as a replacement for the term "address" in Bitcoin transactions. This term is preferred because it can be used as both a verb and a noun, which aligns well with Bitcoin transactions. Additionally, the word "code" accurately describes the signature script associated with addresses. The use of "Funding Codes" is particularly relevant in the context of self-executing smart contracts and upcoming developments like schnorr and taproot. The term sounds good when spoken, has two words and three syllables, and can easily be abbreviated as "code. "The concept of a Bitcoin invoice has also been discussed, with proposals to convert the invoice address into a Bitcoin address gaining support. Emil Engler has expressed gratitude for the feedback received and has announced the decision to write a Bitcoin Improvement Proposal (BIP) for better on-chain privacy. However, there is still a need to find a suitable term to replace the word "address." Suggestions include Invoice ID, Payment Token, Bitcoin invoice (address), and Bitcoin invoice (path). Chris Belcher's suggestion of 'Bitcoin Invoice' stands out due to its similarity to the Lightning Network's term "invoice. "There has been a comparison between the use of clay bulla in ancient times and Bitcoin addresses. The practice of impressing tokens onto wet bulla to ensure trust and prevent tampering has similarities to the use of Bitcoin addresses. Emil Engler is seeking a consensus on the best replacement term for a Bitcoin address, with suggestions including Invoice ID, Payment Token, Bitcoin invoice (address), and Bitcoin invoice (path). Belcher's suggestion of "Bitcoin Invoice" appeals to Engler due to its similarity to the Lightning Network's term "invoice. "The proposal to change the term "Bitcoin address" aims to discourage repeated use of the same receiving address. Suggestions such as "Payment Password" or "Transaction Password" have been made as alternative terms. The current use of the term "address" leads to misunderstandings, as people associate it with something fixed and permanent. Some members of the community argue that neither the address nor public key are passwords and suggest alternative terms like "invoice id" or "payment token." While the idea has generated some discussion, no formal action has been taken yet.In conclusion, there is ongoing discussion within the bitcoin-dev community about finding a better term to replace the current term "Bitcoin address" in Bitcoin transactions. The proposal suggests using terms like "Funding Codes" or "Bitcoin Invoice" as alternatives. Standardization and widespread adoption of easily understood language are seen as important steps towards the acceptance of cryptocurrencies like Bitcoin. Feedback and consensus-building efforts are ongoing, with the possibility of a Bitcoin Improvement Proposal (BIP) being written on the topic.
Updated on: 2023-08-02T01:28:02.169982+00:00