What do you all think of Silent Payments for Bitcoin? It was made to replace BIP-47
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Silent Payments are exactly Monero’s stealth addresses, making the receiver perform extra work to recognize payments to them. A good way to avoid address re-use in non-interactive settings, providing a modest boost in privacy.
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Pretty cool stuff. One thing that is not clear to me is whether Alice can also spend the funds after from the silent payment address since it is a shared secret:
"These three keys are the (1) public key of the output(s) Alice wants to send to Bob, (2) Bob’s public key in his reusable payment code, and (3) a shared secret (generated using the Silent Payment public key and the user’s UTXO private key using ECDH that only Alice and Bob can know"
Silent Payments, Explained – Silent Payments
If that is the case, it is not automatically a bad thing, for example it can prevent coins from getting lost.
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No; only Bob can spend from the stealth address.
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The big problem is that these kind of BIP’s hardly get supported. BIP47 was only supported by Samurai wallet as far as I know. I could not even find a python implementation for it. In the end, decent privacy preservation should be implemented as default IMO, like in Grin.
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Samourai Stack Sparrow Blue had BIP 47
Now Cake Started with Stealth payments
Bet popular wallets will have them as options
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Good Development After very long time lol
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Once this gets merged, it’ll get a lot easier for others to implement Add BIP352 `silentpayments` module by josibake · Pull Request #1519 · bitcoin-core/secp256k1 · GitHub
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On paper it looks really promising, big step up from BIP47. I hope that since it is a superior solution it will get some widespread adoption opposed to what happened to BIP47.
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