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sipa / btc-beyondip.txt
Created September 23, 2011 16:19
Beyond IP transactions: towards a Bitcoin payment protocol
Beyond IP Transactions: towards a payment protocol
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IP transactions were originally introduced as a first "out-of-band" protocol
for negotiating a transaction output's public key. Being inconvenient and
insecure, they became obsolete, and recent versions of bitcoin don't support
them anymore.
The result is that static bitcoin addresses have become the most common way of
defining requested payments. This may be fine for anonymous donations, but is not