Author: Pieter Wuille 2011-09-23 23:15:48
Published on: 2011-09-23T23:15:48+00:00
Pieter Wuille has proposed a new idea of moving away from static bitcoin addresses for transactions, which he hopes will start a discussion. However, some people have criticized this idea as being too complicated for addressing problems that don't exist. The main issue is that the scheme assumes there is no out of band channel, which is not true for most cases. Pieter clarifies that his scheme is not meant to solve anonymous donations, which work well with static addresses. Instead, he wants to standardize part of the out-of-band communication inside a protocol. By doing so, he aims to add support for anything that is possible through bitcoin scripts, and use signatures to authenticate the whole process. This way, the client gets a proof of payment acceptance too. Overall, Pieter believes that addresses are a limited method for defining payments, and as soon as you move to a protocol instead of a static template, a lot of possibilities open up.
Updated on: 2023-05-18T22:22:05.747111+00:00