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July 22, 2010, 01:34:38 AM |
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The original reason was fear of DNS spoofing, combined with the belief that thransactions to IP addresses are fundamentally insecure. There's no secure handshaking (and can't be, short of something like SSL, which is pretty heavyweight), so you don't know who your coins are going to. Essentially, the IP system was just created for local testing and sending coins around your local network, not for any larger use.
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