BTC.com, a subsidiary of the mining company Bitmain has introduced support for questionable payment Protocol BIP70.
Product update: the https://t.co/38N9uRCg2L wallet now supports BIP-70 for #Bitcoin and #BitcoinCash payments. Who is ready to order pizza? 🍕https://t.co/Hm7A8WxC7u
— BTC.com (@btccom_official) 26 Sep 2018
According to representatives of the BTC.com the implementation of the Protocol will replace long addresses of purses in human-readable (for example, example.com instead 1BQ9qza7fn9snSCyJQB3ZcN46biBtkt4ee).
Also the system will enable confirmation of transactions and automatic creation of return addresses.
In the beginning of the year, BitPay began to use BIP 70 as the standard for billing, forcing users creating bitcoin and Bitcoin Cash-payments for sales agents BitPay, to use compatible with BIP70 wallets.
According to BitPay, this decision allowed to reduce the number of errors in the payment network to 0.27%. For comparison, in June 2017, the same indicator was equal to 10%.
“When the dealer uses BitPay to enable customers to pay in bitcoin or Bitcoin Cash, they must use compatible with BIP70 wallet to complete the transaction. BitPay is one of the largest service providers in krypterade. We believe that we offer the best payment method for our users. In addition, it is supported by many dealers,” — said Vice-President of operations BTC.com Alejandro de La Torre.
The first scheme BIP70 proposed by the developers of bitcoin Adresem Gavin and Mike Hearn. With it they planned to improve the quality of cryptocurrency transactions in the commercial segment of the market.
BIP 70 has been criticized by the crypto community, since its implementation, unlike conventional all providers of the scheme BIP 21, brought with it the risk of tracking transaction records in the blockchain. The situation is also exacerbated by the vulnerabilities of OpenSSL.
However, representatives of the BTC.com assure that users do not have to worry.
“We spent time on thorough assessment of all security issues and privacy, and we are confident that our users can safely work with a purse BTC.com” — said Alejandro de La Torre.
Earlier, the developers Samourai Wallet urged companies and users to refuse the services of a bitcoin processing company BitPay. The cause was identified the implementation of them unsafe, according to representatives of the organizations, schemes BIP70.