Author: Gregory Maxwell 2017-09-28 00:58:30
Published on: 2017-09-28T00:58:30+00:00
In an email sent to bitcoin-dev, Peter Todd highlighted the issue of reusing old addresses, which can cause privacy and operational problems for services such as exchanges. While working on Bech32 with Pieter, they designed error correcting codes to incorporate dates and explicit amounts for enhanced performance. However, they chose not to add these features at the time to avoid retarding adoption and creating different software requirements and layering. Though people have already deployed BIP173 prior to peer review, Pieter supports adding this feature to address formats, keeping in mind that multiple fields are most efficient if they're multiples of 5 bits. He suggests using one bit to indicate an embedded amount and 19 bits of 1 day precision resulting in a 1435 year span. High precision of expiration times is unlikely to be useful due to clock skew.
Updated on: 2023-05-20T04:02:58.222654+00:00