Author: Mike Hearn 2013-09-17 10:03:19
Published on: 2013-09-17T10:03:19+00:00
The discussion revolves around 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 suggested is that when 2 BTC Bitcoin is sent to someone, a data lookup hash is inserted into the transaction. When it arrives on the other end, it is looked up, and instead of being presented with a dialogue that says "you received 2 BTC from 13Y94z43Nbbb6wevRyk82CeDoYQ5S28zmA", it's "You received 2 BTC from Frank Jones" including a nice photo. Wendell suggests storing the transaction ID with a fresh public key on a server, each time a transfer is made. Alice generates a new keypair & revocation certificate for the transaction, makes a Bitcoin transaction to Bob, sends the transaction ID plus the new public key to the server. Bob receives the Bitcoin transaction, generates a new keypair & revocation certificate, does a transaction ID lookup on the server, receives Alice's public key, sends his own new one, encrypts his user metadata against Alice's new key, Alice downloads and decrypts Bob's metadata, uploads her revocation certificate, uploads her own metadata, Bob downloads Alice's metadata, Bob uploads his revocation certificate. The server removes all keys with revocation certificates. Wendell also considers the idea of Alice/Bob validating each other by including some kind of code that they read to each other over the phone or some other medium.
Updated on: 2023-06-07T16:39:28.676505+00:00