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Subject: [bitcoin-dev] Payment address tokens
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I've put together a fairly incomplete BIP draft for a new stateless address
format that aims to address the many shortcomings of current addresses,
including:
- Current addresses special-case specific transaction types, and have needed
sender-side upgrades for new types.
- Outputs are produced which cannot be distinguished from disguised data
storage, making spam detection harder.
- Privacy is severely harmed by reuse of addresses.
- Funds can be lost due to (accidental or intentional) reuse of very old
addresses.
https://github.com/luke-jr/bips/blob/bip-genaddr/bip-genaddr.mediawiki
A downside of this approach is that parsing addresses to outputs can be
complicated, but this is resolvable by writing libraries for popular
languages.
Thoughts on how it might be improved, before I get too deep into the current
design?
Luke
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