[Bitcoin-development] instant confirmation via payment protocol backwards compatible proto buffer extension

Mike Hearn mike at plan99.net
Mon Jun 16 20:32:15 UTC 2014


On Mon, Jun 16, 2014 at 10:29 PM, Daniel Rice <drice at greenmangosystems.com>
wrote:

> I'm trying to think through how to encourage the maximum number of instant
> signature providers and avoid the VISA monopoly. Ideal case would be that
> people can even be their own instant provider.
>

A provider does not have to be an interactive third party. One reason I
suggested using X.509 is so secure hardware devices like the TREZOR could
also be instant providers. The hardware would be tamperproof and assert
using a secret key embedded in it that the tx came from a genuine,
unflashed TREZOR. The the server can know the device won't double spend.

In this way you have decentralised anti-double spending. Of course, it's an
old solution. MintChip sort of worked a bit like this.
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