[bitcoin-dev] BIP 174 thoughts

Jason Les jasonles at gmail.com
Wed Jun 20 00:39:46 UTC 2018

On Fri, Jun 15, 2018 at 04:34:40PM -0700, Pieter Wuille wrote:
> First of all, it's unclear to me to what extent projects have already
> worked on implementations, and thus to what extent the specification
> is still subject to change. A response of "this is way too late" is
> perfectly fine.

I am working on a python implementation of BIP 174 as part of a multi-sig hardware wallet I have in the works. I am not so far along as to say that all these changes are way too late, but I’ll comment on the following:

> Key-value map model or set model
I believe the key-value map model should be kept because as Jonas Schnelli said it’s probably not worth significantly breaking existing implementations like Peter Gray’s, or maybe more who have not spoken up. However, I appreciate the benefit of the set model particularly in regards to size consideration and the merging of redeemscripts and witnesscripts into single “scripts” records.

>Ability for Combiners to verify two PSBT are for the same transaction
This idea makes a lot of sense, much more intuitive.

>Hex encoding?
I was hoping for some standard here was well and I agree using something more compact than hex is important. My understanding is Z85 is better for use with JSON than Base64, which is probably a good benefit to have here.

I will continue developing under the current spec and if there ends up being consensus for some of the changes here I’m fine with re-doing the work. I will be following this thread closer now.

Jason Les

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