Private Payments: an improved BIP47, has just landed as BIP351 🎉
- Reusable payment codes
- No static notification address
- Payer and payee privacy
- Uses a single OP_RETURN payload for wallet recovery (per recipient)
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Replying to
Check out the reference implementation, written in Rust
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Is using OP_RETURN for stealth address notifications spamming the chain?
- Yes. Value xfer only.12.7%
- No. Fees are paid.57.3%
- Depends if I like the app3.9%
- What is OP_RETURN?26.1%
487 votesFinal results
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Long term I don't think this scales and also it spams the chain. Until it gets priced out. Better to provide things out of band.
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Out of band notification is completely fine, but you lose wallet recovery guarantees. Notification services could charge sats over Lightning to publish these as well.
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Say Alice creates two transactions to Bob with c=1 and c=2, but the two get inserted in the blockchain in the reverse order meaning c=2 is inserted a block before c=1. Bob would try to find the next tx with:
s = H(S | 1) // searching c=1
Is it possible Bob misses the c=2 tx?
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Wallets should probably scan a few addresses at a time so they don't miss in this situation.
