Instawallet introduces new approach to instant payment: Green address technique

[Luke-Jr]

And why is the system built so miners can change things like signatures? Couldn't that be bad?

Miners can change signatures, but obviously if they break the rules, their block will still be invalid. An extra signature that isn't needed to verify the transaction can therefore safely be stripped.

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[DeepBit]

The key problem with "green addresses" is that it encourages service providers to spam the blockchain with moves of funds to a single address. Since these same services cannot have users send directly to the "green address", the need for an extra transaction/input to move funds to one is almost always needed.

Thanks for explaining this.  I was just about to ask what bloat there was.

Actually no bloating is needed to use green addresses. That was just a bad implementation.

[punningclan]

This is a brilliant idea and I hope it's implemented in the code.

[jav]

Quick update: I summarized the ideas discussed here in a paper and also did some more implementation work. See: https://bitcointalk.org/index.php?topic=102517.0