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In this episode of “Bitcoin, Stated,” hosts Aaron van Wirdum and Sjors Provoost welcome Ruben Somsen back on the display to communicate about his latest proposal for “silent payments.”
Silent payments resemble earlier tips like “stealth addresses” and “reusable payment codes,” in that they permit buyers to publish a static deal with. Although this is not the actual bitcoin tackle wherever they will be compensated, senders of a transaction can use this static handle to make new bitcoin addresses for the receiver, for which the receiver — and only the receiver — can, in convert, produce the corresponding personal keys.
Like stealth addresses and reusable payment codes, the gain of silent payments is that addresses can be posted publicly with no harming users’ privacy snoops can’t connection the publicly posted address to the precise bitcoin addresses in which the receiver is paid out. In the meantime, contrary to stealth addresses and reusable payment codes, silent payments do not need any extra blockchain details — while this does come at a computational charge for the receiver.
The podcast episode aspects this in roughly two sections. In the 1st 50 % of the episode, Somsen, van Wirdum and Provoost break down how silent payments function, and in the 2nd half of the episode, they go over how silent payments evaluate to stealth addresses and reusable payment codes, as perfectly as some prospective implementation difficulties.
Provoost designed a prosperous silent payment on the Signet Bitcoin testnet, but silent payments are not completely ready for mainnet use at this time.
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