Author: Wendell 2013-09-17 09:30:57
Published on: 2013-09-17T09:30:57+00:00
Wendell is exploring ways of automatically exchanging contact details between wallets to encourage the proliferation of identifiable names and photos rather than long and hard-to-verify addresses. The simplest version involves sending BTC to someone, inserting a data lookup hash into the transaction, and presenting the recipient with "You received 2 BTC from Frank Jones" including a photo. However, this method requires a dedicated server that could put them in a position of being coerced into giving data or altering their system to store it.To overcome this challenge, Wendell proposed some solutions, such as storing the transaction ID with a fresh public key on a server each time a transfer is made. However, he does not like that clients (wallets) are going to be beating down the server all the time checking for keys, or the possibility of a desynchronization so severe that the user receives the data much too late for it to be useful. Another solution proposed by Eric Lombrozo was to use the transaction hash itself for the lookup and encrypt the data so that only the recipient of the transaction can do this lookup. Wendell is also considering Alice/Bob validating each other and including some kind of code that they should read to each other over the phone or some other medium to ensure that "it really is Alice," before returning money to a very legit-looking personage.In summary, Wendell is exploring ways of automatically exchanging contact details between wallets to increase usability, but he does not want to use a dedicated server. He is considering several options involving storing transaction IDs with fresh public keys, encrypting data, and Alice/Bob validating each other.
Updated on: 2023-06-07T16:39:02.548130+00:00