Bitcoin Forum
December 04, 2016, 04:21:49 PM *
News: To be able to use the next phase of the beta forum software, please ensure that your email address is correct/functional.
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Proposal: bitcoin payment protocol  (Read 790 times)
Pieter Wuille
Legendary
*
qt
Offline Offline

Activity: 1036


View Profile WWW
October 03, 2011, 10:53:59 AM
 #1

Currently, addresses are the only well-supported way of initiating a bitcoin transaction. However, what bitcoin addresses are in practice is no more than a template for a txout script. In practice, such an address (typically a freshly-generated one) is communicated to the payer when a payment is requested, through a website, a QR code, e-mail, ...

If stop limiting ourselves to short strings to define a payment, a lot of possibilities open up. In the following gist i've written up a proposal for a full bitcoin payment protocol, that allows arbitrary scripts, makes the receiver responsible for getting the transaction accepted, optionally removes the burden of transaction fees from the payer, and allows easy tracking of actual individual payments.

https://gist.github.com/1237788

Comments, suggestions, ideas?

aka sipa, core dev team

Tips and donations: 1KwDYMJMS4xq3ZEWYfdBRwYG2fHwhZsipa
1480868509
Hero Member
*
Offline Offline

Posts: 1480868509

View Profile Personal Message (Offline)

Ignore
1480868509
Reply with quote  #2

1480868509
Report to moderator
1480868509
Hero Member
*
Offline Offline

Posts: 1480868509

View Profile Personal Message (Offline)

Ignore
1480868509
Reply with quote  #2

1480868509
Report to moderator
1480868509
Hero Member
*
Offline Offline

Posts: 1480868509

View Profile Personal Message (Offline)

Ignore
1480868509
Reply with quote  #2

1480868509
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1480868509
Hero Member
*
Offline Offline

Posts: 1480868509

View Profile Personal Message (Offline)

Ignore
1480868509
Reply with quote  #2

1480868509
Report to moderator
1480868509
Hero Member
*
Offline Offline

Posts: 1480868509

View Profile Personal Message (Offline)

Ignore
1480868509
Reply with quote  #2

1480868509
Report to moderator
jimrandomh
Jr. Member
*
Offline Offline

Activity: 43


View Profile
October 03, 2011, 12:51:53 PM
 #2

Related discussions in https://bitcointalk.org/index.php?topic=46429.0, https://bitcointalk.org/index.php?topic=45211.0, https://bitcointalk.org/index.php?topic=46538.0. The basic idea - allowing more-complex scripts to control the conditions under which coins are released - is good. However, I prefer the versions that keep the address format the same, or at least very similar. Allowing complicated addresses puts burden on Bitcoin-handling web sites and breaks compatibility in ways that it doesn't need to be broken.
Pieter Wuille
Legendary
*
qt
Offline Offline

Activity: 1036


View Profile WWW
October 03, 2011, 01:00:36 PM
 #3

This is not about complex scripts - although I consider the ability to transparently support complex script an advantage (which is true for both this proposal and OP_DROP).

This is about realizing that a static txout template itself has limitations.

For example: if I am using a webpage to buy something, I am already using the http protocol. Why do I need to carry the burden of getting the transaction broadcast and accepted on the network, instead of just sending it to him? The payee is the one who 1) already has the network infrastructure in place and 2) cares about getting his money.

aka sipa, core dev team

Tips and donations: 1KwDYMJMS4xq3ZEWYfdBRwYG2fHwhZsipa
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!