Author: CryptAxe 2017-09-27 18:15:20
Published on: 2017-09-27T18:15:20+00:00
Bitcoin developer Peter Todd has suggested adding a user interface (UI)-level expiration time to new BIP173 address formats in an effort to prevent the re-use of old addresses. The practice is problematic for privacy and operational reasons, as users frequently send funds to lost or stolen accounts or those compromised by hacks. Todd proposes that wallets should consider addresses invalid after their expiration date, but warns the idea may raise UI and terminology issues. To tackle this, he suggests hour or month resolutions be used, with hour-level precision making it easier for services like exchanges to reduce losses after a hack.
Updated on: 2023-06-12T19:08:03.419390+00:00