Author: El_Hoy 2022-09-22 03:06:50
Published on: 2022-09-22T03:06:50+00:00
Bitcoin has a known issue where every transaction requires a new address to prevent address reuse, making it difficult to make recurring payments. A scheme is proposed that follows the structure of BIP44 and should make it possible to send recurring payments using a single offline interaction. The proposed scheme involves generating multiple derived addresses from a contact address, which can be used for multiple recurring payments. This approach simplifies the process, requiring less work to implement than other solutions like BIP47. It also allows Bob to choose to send payments to Carol using multiple outputs, giving him more privacy. However, this only works in one direction, and adjustments may need to be made for different address types on Bitcoin.
Updated on: 2023-06-16T00:24:04.642349+00:00