Beyond IP transactions: towards a bitcoin payment protocol



Summary:

In a discussion between Luke-Jr and Pieter Wuille, Pieter suggests standardizing out-of-band communication in a protocol. Luke-Jr suggests using email or XMPP and signing the message with the "from" key. However, Pieter disagrees and argues that he does not want to send an email or chat while buying something from a webshop. Instead, he suggests using an HTTP connection like the one already being used to view the static address on the website. The discussion also highlights the need for bidirectional communication when generating freshly negotiated keys each time. While deterministic keypairs remove the necessity of bidirectional communication, they still require the exchange of public and private keys, making it a form of bidirectional communication. Pieter believes his scheme is more flexible and user-friendly despite requiring a few extra steps.


Updated on: 2023-05-18T22:22:19.270641+00:00