Author: rhavar at protonmail.com 2018-09-10 15:49:29
Published on: 2018-09-10T15:49:29+00:00
Ryan Havar, a Bitcoin developer, has shared an evolving document called BIP Bustapay, which is aimed at undermining the powerful heuristic employed by those trying to undermine Bitcoin's fungibility. The heuristic in question assumes that all inputs of a transaction are signed by a single party. Breaking this heuristic would be good, but it’s unknown to what degree it’s already broken. The Bustapay payment, as proposed by Havar, is made from a sender to a receiver and involves four steps. Sender creates a Bitcoin transaction paying the receiver; this must be fully valid, signed and all inputs must use SegWit and cannot be propagated on the Bitcoin network. Next, the sender gives the "template transaction" to the receiver, who processes the transaction and returns a partially signed coinjoin. Finally, the sender verifies the transaction and broadcasts it onto the network. There are some concerns regarding the protocol, such as the use of HTTPS which can force a third-party service, and the fact that the sender cannot know for sure if the recipient really supports this protocol.
Updated on: 2023-06-13T14:26:07.341871+00:00