I read all the best Bitcoin content out there so that you can listen. This is a crypto. Kana me quick read with guys swan. Welcome back to the crypto. Cana me with guys Swan everybody. I am your host. The guy who is read more about Bitcoin than anybody else, you know, and we are diving into another great Bitcoin magazine article by the mini times returning author Aaron van Werdum today about layer 2. Call it would actually enable public Bitcoin accounts, which is a really interesting idea. But before we jump into the article, some of you actually may be hearing this podcast for the first time only let's talk Bitcoin Network. I'm going to be working with those guys over there to share this show with their incredible audience. Ah, particularly the Bitcoin magazine content that I cover and that's that's what we do here. 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You can find them on Twitter at the LTB Network and I just want to say thanks and I am honored to be a part of the Gang. So let's go ahead and jump in today's Bitcoin magazine article Again by Aaron van. Beurden. I will add links in the show notes to the I don't know 10 articles or so of his that we've covered on the show in the past and after the read we'll talk all about this new proposal and what it might mean for interacting with the Bitcoin ecosystem and it is titled does Bitcoin need accounts one developer thinks so and he figured out how Bitcoin doesn't use typical accounts instead with each payment the funds are sent to a unique transaction output in such an output. The Bitcoin address can potentially be reused in which case the address would act a bit like a Bitcoin account reusing addresses this way. However, makes it trivial to link different coins and transactions to the same user, which is horrible for privacy. Bitcoin users are instead encouraged to Rate a new address for each receiving payment while a best practice for privacy Spanish developer Jose the mannequin. Well, oh believes this isn't exactly user-friendly. Quote we are somewhat used to bitcoin payments the way they are but it's really an atrocity can Willow told Bitcoin magazine. It's like using the internet without domain names relying only on IP addresses only worse because crypto addresses are way longer uglier and constantly changing in quote. To solve this issue over the past year the developer figured out how to bolt and account system on top of Bitcoin having extensively detailed the idea in a new white paper. The Minea is now proposing his layer 2 protocol easy pazi while preserving Bitcoins most valuable attributes such as privacy and self sovereignty no need to rely on custodians the Spaniard believes his proposal would improve the Bitcoin user experience significantly. It would enable non-repudiation recurring payments and more. Easy pazi Bitcoin accounts as a key property of familias proposal easy peasy would not depend on any outside Source both setting up the account as well as using it all happens on the Bitcoin Block Chain itself. This is possible because an account is created with a special transaction. This transaction has one input the sending half of the transaction which includes a to of to multi signature or multisig. Big address this means that two public keys are revealed signing the transaction. The transaction also has one output the receiving half which is an OP return output. In this case. The output doesn't actually receive any funds. It just includes a little bit of data. The two public Keys used in the input belong to the account owner who is also created the transaction and both keys serve a function. The first public key is called the identity key and it is essentially the account holders digital identity anyone who wants to communicate with him privately must use this public key to encrypt the message has the second public key is called the value key and it is used to receive payments. There are two different public Keys instead of one because the value key is even more valuable than the identity key. The latter is used for messages the former for money. Quote the identity key must be online for Minea explains that opens it up to vulnerabilities in the same way that own line wallets are more exposed than offline wallets. It may be wise to keep the value key in Cold Storage while the identity key is more actively used to communicate in quote the Opera turn text in the output. Then also serves a function. It is a small Json document a machine-readable data format called. The Rendezvous descriptor this document contains information about the account specifically at details which types of payments the account owner is willing to accept and how indeed feminie has his proposal supports various types of payments more on this later. The two public keys and the Rendezvous descriptor are all the information the account needs to contain when this special account creation transaction is drafted a fee is added as such the multisig address must have been minimally funded and it is broadcasted to the Bitcoin Network to be included in a block. Easy pazi Bitcoin account IDs. Now people need to be able to find the account. This is where feminist slipped in one of the Nifty tricks of his proposal. Once the transaction is included in a Blog. The account is automatically assigned an account ID based on its place in the blockchain specifically the account ID consists of the exact block that the transaction is included in and the location of the transaction in that block. This is combined with a blockchain identifier and a checksum like so blockchain at block dot transaction / checksum. So let's look at this step by step with a random example say we're using Bitcoin the blockchain identifier, then is BTC. Let's say the transaction is included in Block 540 3847. This is a real Bitcoin block mind in October of 2018 but that's not important. We are just making something up for now. Let's also say that the transaction is the 636 transaction in that block again this transaction actually exist, but we're just making up something here. There's no need to look up the actual transaction and the checksum lastly is a cryptographic trick for extra security quote. It is extracted by hashing three times. The money has said the hash of the block that The account the Merkel root of that block and the hash of the account transaction itself. Thus if anyone tries to send you bad account data, you can easily detect it end quote in our example, the checksum would be 577. So the 636 transaction included in Bitcoin block number 540 3847 would result in account ID BTC at five four three. Date for 7.6. 306 forward slash five seven seven More specifically this would be the canonical ID as the block transaction and check some are shown in numbers to make it even more practical this canonical ID BTC at five four three, eight four seven, six three six four five seven seven can also be expressed as a mnemonic ID. Leveraging the bi P39 word format used for the Bitcoin wallet seeds the numbers in the account ID can be converted into a couple of words or combinations of words. This should be easier for humans to memorize the numbers in the account ID of this example can be cut into three chunks. Five four three eight four seven equals cancel - mind six three six equals exhibit 5 7 7 equals motion. As such the mnemonic ID for this example would be BTC at cancel mind dot exhibit forward slash motion. Lastly the easy pazi white paper also proposes domain IDs, which would depend on the domain name system or DNS in short such IDs would include an actual domain name as well as a blockchain identifier and a checksum and Link it to an account ID through the DNS system. System for example a domain ID would look like this BTC at Bitcoin magazine.com. / 561 These types of ID's would rely on an external. These types of ID's would rely on an external Source DNS and would cost money and some effort to maintain the mini has expects. They'd probably only be interesting to commercial parties. payments so we have an account and an account ID now someone let's call him the payer wants to pay the owner of our account who will call the payee the payer has the payees mnemonic ID because the payee gave it to him the account ID in whatever form can simply be shared with anyone like an email address or a phone number to make the payment the first step for the payer is to convert the mnemonic ID back into the Medical ID this step is Trivial using the bi P39 format the payer simply converts the words in the mnemonic ID back into numbers and ends up with the canonical ID BTC at five four three, eight four seven, six three six 4/5 seven seven. With the canonical ID the payer can then use the checksum to make sure that the block height and the transaction number match. This isn't strictly necessary, but it serves as an extra check to make sure there were no typos in the account or maybe to prevent someone from nefariously handing over a similar-looking account. Either way the payer now knows where to find the account. It's the 636 transaction in Block 540 3847. So he looks it up this transaction then includes the Rendezvous descriptor the Json document in the op return output this Rendezvous descriptor specifies, which types of payments the account is willing to receive and how this can be all types supported by the protocol or any selection of them Of the payment types that the payee accepts the payer picks his favorite and makes the payment done. Payment types. So which payment types are possible from Aeneas is protocol includes for payment types. Type 0 the first payment type type 0 is the simplest type but also the worst one for privacy type zero payments are basically just payments to the value key and therefore involve reusing the corresponding address like mini donation addresses do today. Germany has actually discourages this type, but he still wanted to include it in the protocol as an option for those who really want to use it. Type 1 the second payment type type one requires interaction for this type of the payer contacts the payee to ask for a new Bitcoin address. The easy peasy protocol is flexible and how this contact is made. It can be by email through a web page in a chat app or by some other means when the address is provided. Let's say through email the payee also signs the address with his identity key this offers confirmation to the payer. Earlier that the address is really the payees and not an address belonging to a hacker that gained access to the payees email account. For example. Type 2 the third payment type type 2 requires no interaction resembling tricks previously used for stealth addresses type 2 payments let the payer generate a new Bitcoin address for the payee from which the payee and only the payee can spend to do this the payer needs to generate a single use public key pair using the private key of this key pair. In combination with the payees value key the payor generates a new public key and corresponding Bitcoin address. The payer sends the funds to this new address and importantly adds the single use public key to the same transaction as an opera turn output interestingly the payee can use this single use public key in combination with his value key to generate a new private key that corresponds with The new public key and thus the corresponding Bitcoin address in other words, if the payee learns of the single use public key, he and only he can spin the funds from the new Bitcoin address to learn of the single use public key. The payee is either notified of the transaction by the payer or the payee simply checks all the new Bitcoin transactions with an opera turn output for each operator an output. He checks if it's a public flick key that he can combine with his private value key to spend the funds included in that transaction. This will often not be the case. But when it is the case, he knows he's been paid. To read how this works in a little more detail see this article on stealth addresses and reusable payment codes. Type 3 the fourth payment type type 3 is similar to the second type this time. However, Opera turn outputs must be prefaced with the identifier e he this makes them easier to spot for the payee, but they do cost a little bit extra in fees for the payer. benefits of Bitcoin accounts As a layer to proposal then the Nia's is account system would not require any changes to the Bitcoin protocol nor would it need industry wide consensus individual wallets can adopt the proposal tomorrow. And after that users could use it immediately then æneas of course believes this would greatly benefit Bitcoins usability opening up a whole new potential for the protocol. Quote of these non repudiate ability is a big one. The menia said, let's say you go to Lamborghini dealer to buy your new ride. Once you agree on the price. The dealer shows you a QR code and tells you to send the payment to that address. So you do but the day after the Dealer's accountant tells you they are still waiting for the payment. How do you prove you paid? Because Bitcoin addresses are pseudonymous. You can't prove you sent the money to the Lamborghini dealer and out with phineas's account system. This would no longer be a risk the payer could always provide proof of payment to a specific account for Time Zero payments. This is obvious. The money was sent to the accounts publicly visible value key type 1 payments are also easy to prove as the provided Bitcoin address was signed with the payees identity key, but even for type 2 and 3 payments the payer could prove that the payee was really 8 the single use private key can cryptographically prove that the payee has all the information needed to identify the transaction as his and to compute the private key that lets him spend the funds. Another benefit is that feminist is account system would make recurring payments much more feasible think of rent subscriptions or other periodic transactions to the same entity while it software could be programmed to accept payment. Quest from a specific account up to some maximum amount per period for example, the landlord's account would be allowed to charge up 2.1 Bitcoin per month. If that's the monthly rent further. It would be much easier for merchants to return funds. This could be useful. For example, when someone makes a purchase, but the merchant later finds that the ordered product is out of stock with an account system. The money can be returned to the customer easily without needing to ask for specific return address Lastly feminist is account system would for the first time offer Bitcoin users a blockchain identity quote. This could for example mean that when you log into a website, you use your easy peasy ID and instead of asking for a password the website challenges you to sign a message with your private key. The mini has suggested even if the website is hacked you are always safe because they don't store any passwords in quote. Downsides all that said one of them Aeneas is account systems. Most powerful features may also be its biggest drawback. It relies fully on the Bitcoin blockchain by embedding account data in it block space is scarce. However, and scalability is a challenge to minimize this problem. The money is in his white paper suggested accounts could also be opened in bulk one transaction could include hundreds or even even thousands of accounts for as many users in this case. The Opera turn data would point to an outside source for all the account data, perhaps a website the Opera turn would also include a Merkel route for all of this account data. So the payer can check the account data against the Merkel route while dissolution would depend on an outside Source like a website at least users could make sure the data isn't tampered with An alternative solution could be to use a different Block Chain such as litecoins to open accounts in this case an index number is added to the account referring to Litecoin or whichever. Blockchain is used while this solution would arguably be secure enough in the case of Litecoin. It does of course come with the obvious downside that Bitcoin users would come to rely on a different cryptocurrency to a certain extent for more information and details see the easy pazi white. paper link provided All right, and that will conclude our Bitcoin magazine article Again by Aaron van Werdum and I want to talk about this and all about identity in this new ecosystem. So let's go ahead and hit our sponsor and we will come back and talk about this piece. For anyone who has a podcast anchor cannot be beaten particularly for trying to get off the ground their entire platform is free. This includes unlimited hosting both in audio that you upload and how much your listeners download. I have uploaded an incredible library of audio now and I've never paid anchor a dime. In fact, they connect me with other sponsors and have run an ad consistently on my show. So they've paid For exposure to my audience that's really hard to beat even if we ignore that I can record directly in the app or my browser. I don't need any other software. If I don't want it I can edit at sound effects clips and they automatically published to all of the top podcasting platforms. I never had to do a thing. So if you were thinking of starting a show or already have a podcast, there's no better platform out there check out anchor by downloading the app or go to Anchor dot f FM today All right, so there is a lot to unpack with this one. But I really like this in this is just another of many examples that have come to the surface recently about identity on the blockchain about managing a pseudonymous place in cyberspace and having being able to build some sort of reputation system or a lasting improvable identity and Bitcoin which as a public-private key system as the Largest deployment of public-private key cryptography ever in history. There could not be a better candidate for sorting out this exact problem and it is actually it is a really important problem. I mean we've got a Microsoft has partnered with the casa Hodel guys and there is something happening there. I haven't gotten any concrete details about it other than the fact that a bunch of people are working on it. So that's exciting just to to see what they come up with. Obviously, you've got a cracked on of all coins that have attempted to tackle this problem and it really sucks because this was really the original quote unquote utility of namecoin that I feel like just kind of proves that this doesn't maintain its own network and it doesn't really provide any Security in and of itself. If you have to have the name coin token itself it the namecoin must compete as money despite the fact that it's Just trying to fuel what is a decentralized DNS system. So without the security of the money with the namecoin constantly falling in value. Well, you don't have any Security in this decentralized DNS. So you run into the problem of well, you know, it's easier or it's more secure to actually just anchor data to bitcoin without actually putting it on the blockchain in the example that Aaron gave and feminists gave in the white paper of just creating the Merkel route into a transaction of maybe thousands of other accounts that are just stored somewhere else, which you could have all kinds of really interesting architectures, which it's really comes down to a whether or not it works really well and how much of a hassle it is, but you know, you could see, you know, like even leveraging something like ipfs or A bittorrent's to keep a database of these accounts where you know, they're done in blocks of a hundred or a thousand or something like that and use a Merkel route to prove that this torrent is in fact, the the one with that account data in it and you have nodes that specifically are designed to download and check those torrents. So there's a lot of interesting architectural things that you can do with this and ways to further decentralize it but it's one of those things where as long as there is a means to prove who you are. It might not need to be decentralized to the extent it most people think of it as like The Pirate Bay like that was that was why BitTorrent succeeded over all of its competitors is it did not try to decentralize everything decentralized. The one thing that absolutely had to be decentralized and it left the the sort of legal. Like gray areas to to a market, you know to the pirate day of indexing the Torrance and stuff. Like there were no more numerous between competitors that tried to you know, create the network as decentralized tried to build in tour privacy and tried to build in a decentralized index of all the torrents, etc. Etc. And none of them really work because they were trying to do much too much at once and basically failing to do anything incriminating. credibly well and the extra features actually hurt it in particularly in like usability and in he's when you have one small problem or one limitation or lagging in getting the Torrance and then you have some lagging and limitation in the indexing and finding peers and you have like you just end up with one small limitation or one minor hindrance on top of The other where nothing none of the jobs are done perfectly well and it falls to the competitor that does one job exactly as that job needs to be done and then outsources all the other problems to Alternative protocols or businesses and other services and things like that. I mean that's out. That's how the internet works, you know, like the internet does one thing and then we use all of these other protocols on top of it for Vic things as like the second layer or the second use case for it like, you know, we've got TCP and then we've got IP and then we've got HTML then we've got FTP for files and we've got SMTP for email. We have all these different things to serve all of these different roles and through those things together. We create a cohesive experience and that's what we're seeing. And I think this is clearly a huge part of it. I'm so not only Casa and a lot of the all Coins do we see doing this but we have lightning Network being like what's at think you're synonymous your public key on the lightning network is becoming already and identity and because that one is specifically scalable and you were essentially are given a public key as becoming part of the network. I'm inclined to think that would be the most successful or at least if I was putting money on which one would come out as a leader in the end it would Be lightning Network nodes is because you are always paying to a public key on lightning and but it does make sense. One of the interesting things about the architecture of linnaeus's account system is that you have two separate keys and you're basically locking them together. You have your value key that you can keep offline and then you have your identity key and it might not be perfectly obvious like at first glance why that's actually a really good idea outside of the fact obviously that you can take your value key into cold storage and leave your identity key online to be accessible by older people but this basically eliminates the sort of like man-in-the-middle attack of like I'm having a conversation with somebody who's got an identity key who's got a public key, which I am encrypting communication with on but because that is locked in a multisig which each that that one specifically obviously doesn't have any value on it. There's no coins on it, but it is stored in a transaction attached to the value key that's going to be used for the payment while then when you reference your identity or your canonical ID, your your mnemonic ID your address, you know for other someone else to send to your account system. When you reference that the person can know that there was no man in the middle that that nobody can insert themselves. And be like here's my account information instead of Bob who you're actually talking to because when you check the communication is explicitly with Bob's public key, you're having an encrypted conversation. So if somebody tries to slip in a different account ID while then it obviously won't have Bob's public key attached to it because Bob never signed it which he had to do which was part of the transaction in creating the account to begin with so and because of that it allows how's the ability to your identity is always attached to the key that you're receiving payments with but you're never actually you never you don't have to constantly have your key to receive payments with involved. You're just attaching two together. So that one is less less critical than the other and that's a really interesting really interesting part of the design and I could how was having a hard time wrapping my head around the type. payments which are like stealth addresses in the fact that the person who is paying like, let's say I am paying you what I would do is I would create a public-private key pair and sign with my private key for a payment to your public key and and create an address from that and with and you would basically do the reverse you would use my public key and your private key to then regenerate the Address so on on the blockchain like on the actual transaction, this is this is why stealth addresses kind of hide who you're sending payments to is because the address is actually generated by the person who receives the payment rather than being posted on the blockchain is being sent specifically to hash and because of that. Nobody actually knows the address. It's not publicly on the blockchain until someone spins from it. So as long as you're receiving Payment it's safe. But then obviously you have to generate the output later which you do with your private key. So so the payer me in this instance is using my private key in your public key to to lock up the funds, which is actually an address has to be derived from it. And you use the opposite you use your private key and my public key in order to derive the address because actually the math checks out the same way and that's a really really interesting way to do it and make it so that only you can unlock the coins, but it's absolute proof that I am the one who sent the payment and that the payment was definitely sent to you without actually revealing it all on the blockchain until you want to redeem it, which is it's a really fascinating tool and the fact that this Leverage is it and that you have multiple ways to actually People is also really neat we have we do have the scalability issue now Hopper turn data is kind of interesting because you do have to download it initially to verify the data, but you can easily prune all the opportunities. So if you're not trying to if you're not concerned with the identity system, or you don't want to you know, you don't have your own blockchain ID on bitcoin or whatever. You don't have to store the Opera turn data forever as long as you verify it. You can delete it later and you're totally fine to do that. The problem here though is that it kind of encourages people to bloat the blockchain and it does require a bandwidth concern at the beginning because this this data does go towards the block size. Well the block weight now with Segway it And that has a couple problems for the one good thing. That isn't isn't a huge. The biggest concern is that the you don't have to constantly re-up this identity. Once you create it. It's essentially Perpetual until of course, you want to create a new set of keys or your deprecating the old ones or something like that. So it's not like it's a ton of data in the long run. It's not it's not as if your every time you you know, move some stupid token. Or something on top of Bitcoin. It's you have to put in information in the hopper turn and everybody has to download it and verify it and every single time you want to do anything with it. You got to do this process over and over and over again. Well, you would only do this once and then your ID would be just pointing to where in the blockchain you did this and it could have been 10 years ago. It could have been two days ago and it's essentially Perpetual for as long as you feel those keys are safe and want to use that so that's so in my mind at the Sun a huge. Problem. It is a is a less than optimal solution. But I think there's enough value in a system like this that it shouldn't be just dismissed outright just because it's putting data on the blockchain the problem in my mind. However, is that its failure could be a result of its success is that if this turns out to be a really good model and really useful is it encourages other people this is Mission list right? So if it turns out to work, well then maybe somebody else does another one maybe somebody else figures out how to use it for a completely different reason and it basically encourages the use of opportune data in this way like using this sort of model and then it gets crowded out by everyone else trying to do something different with the limited data at our disposal. Which would essentially in the end make the system infeasible because everybody's trying to bloat the blockchain all at once. So that's really tough. I really like this idea and I certainly want to see it implemented and I'll try to you know, I'll create an easy Pace Eid to play around with it and see how it does. I'm very curious about what kind of a result this would have because it doesn't You know, you don't have to do it for each address like it is it is a static ID that can create as many addresses as you want from a public key. This does offer an interesting interesting new Dynamic and privacy and if the data can be mostly stored, I feel like this is going to be one of those things that doesn't need the unbelievable degree of decentralization and trustless that one typically needs met. If you want to pay a slightly higher fee and get one that is explicitly on the blockchain can't be contested sort of thing. But I like the idea of Ledger leveraging off chain data to do this of leveraging ipfs, or you know, the internet archive or something like that just any other data set that you can then prove that yours is part of and is long as you're storing your own ID later on it doesn't even really matter. What happens that Data can always be restored and you can always prove that you were a part of that data. It doesn't really make a lot of sense in my opinion to store the actual data on the blockchain because that's what's powerful about this system is that you can store a hash of enormous amounts of data and share the unbelievable security that Bitcoin provides amongst gigabytes instead of just the hundred and twenty eight bytes or bits or whatever that you're putting on the chain on the paying. Four of the security of Bitcoin for just a hundred twenty eight bits is a very very different Endeavor or a very different security profile than aggregating it with a gig of other people's accounts and information and when we have these other systems in these infrastructures being built with something like the lightning network is a great place to do exact exactly that sort of aggregation and that's one of the things that excites me most about the lightning network is it's creating a set of payments. And financial servers that are always online to communicate to offer microservices exactly like aggregation exactly like a transaction aggregation data aggregation hashing. What's at which you know is already utilizing the lightning Network public key. I wonder if there could be some sort of a amalgamation of these two systems where you're using your lightning Network public key as the as the as the payment key again just like just like you normally are and then you actually put in a separate Opera turn a key the identity key in that same multisig that you create the Channel width and you basically combine these two into one you kind of smack them together and and then use like Ln URL or one of these other tools that are being used to like a log in to log into a circuit service just like a Feminized said in the article or gave the the example in the white new white paper that you can just sign a message with your identity key. And that's one of those things that's really exciting because because we're getting to the point where I feel like in five years I am going to be able to utilize I'm not going to have to give usernames and passwords to most of the services I'm going to use because I'm going to try to stay within entirely within the Bitcoin ecosystem as much as I possibly can. And I know that everybody is going to something is going to catch steam because there are too many options on the table right table right now and there are too many people trying to solve this problem and it's just really really exciting to see where this goes. And I think this is something that we can actually leverage a lot of the development happening on all coins and stuff to pull into the Bitcoin ecosystem like this very interesting stuff happening with meta mask that are Pulling this same sort of thing. But something something is going to solve this problem. And we're going to have persistent pseudonymous identities within this ecosystem that can be reused without with proof of actually relating back to your other identities, but no actual connection to them later as one of those things where like you can sign in by mixing your public key with a URL or with the with the Unique URL that like a website gives you and they don't actually know your public key, but they can know that your identity is persistent every single time you login. So for instance, I would log into apple and then I would log into Google and I would combine my public key with the Apple URL that I'm logging in with and therefore I immediately know whenever I'm getting sold a shit URL because my my sign-in is different like I it's specific to To the URL that I'm going to and then same with Google. I'm combining it with their URL. But because I'm combining it with information that they are giving me during the login process. They don't actually know like Google wouldn't know that this that I have an account on Apple, even if they were seeing the data it wouldn't be able to tell that I was specifically this other Apple account. But if I wanted to I could prove to Google that yes, this is my Apple ID. This is me consistent across all of these services are This actually doesn't really have anything to do with feminists has set up here because the the ID is a publicly available on the blockchain. So this is a little bit different but it's one of those things that starts walking us towards that sort of a solution. What I'm talking about is actually more of an example of Steve Steve Gibson, who does the Security Now podcast a really good show if you're if you love the technical stuff and all the security see things he tends to be very dry because he talks about really really technical stuff but it's highly recommended if you want to dig into that kind of stuff and you know, you know about computer security and he has created this thing called squirrel squ sqrl secure QR login and it's a really neat system that does essentially that where you keep your keys on your phone. And when you log into a website the website doesn't give you a username and password area. It just gives you a QR code you take out your phone you scan it and then mix the information that it gives you with your public key and send it back to the URL which is embedded in the QR. So it can't be man in the middle to can't be tricked and nobody can you know steal your identity in this situation as long as you keep your phone secure and nobody ever sees your keys. You don't ever have to put your keys on the computer you can and someone else in over a video chat to your account and they'll still never know how to get into your account and they can't do it again ever as soon as you log them out or soon as they log out and you can log into a computer that's totally just just packed full of malware. And again, nobody has any idea the computer has not stolen any passwords. I can't key log, what you're doing is just a brilliant way to start separating the security of these things from the devices. Actually using because we have this amazing tool to smart phone in our pocket. They can do all of this signing and communication to partner with these networks and this, you know, huge public-private key infrastructure that we have at our disposal and is so it's just so cool to see the development happen on these to see this to see a completely decentralized option whether or not it ends up being the one one that takes the takes the throne at the end. I'm going to test it out which reminds me actually that I haven't done the pain em address thing yet, which makes me embarrassed to think that I'm talking about this this article here and I haven't done one of the other specific alternatives to these sorts of things because this is something that's really exciting and I'm glad a thank you to Aaron van Werdum always for writing these things up and making this stuff available and pointing. In the direction, so I'll go read the white paper and explore this stuff and we will see I'm very interested. I'm going to keep a close eye on this. I will link to I'll see if the developer maybe has a Twitter account or something and a link to that in the show notes as well. And don't forget obviously in the show notes. We will have the many many other articles. We have covered by Aaron Werdum on the show so much great stuff, and he does like I've said I always sing his Praises about how Well, he will break down some of these technical developments and his lightning series. I have been told so many times that people have loved his lightning series that I did on the show. It's episodes. It's way way back there. It's episodes 47 48 and 49 with a follow-up on episode 50 and I try to break down the lightning contract piece by piece what using errands incredible explanation in understand? That the lightning Network series also on bitcoin magazine. So thank you guys so much. We will close this out here. I hope you guys are excited. I want to hear what y'all's thoughts are on blockchain identity on how these things might actually roll out in the future. Which do you think is going to take the take the show here. Is it going to be something with lightning public Keys? Is it going to be a blockchain like a Bitcoin account in Opera turn data. Is it going to be something that car? Asses doing is going to be pain IMS. What do you think? I'd love to hear your guys thoughts on it. I hit me up at the crypto economy on Twitter and don't forget to subscribe to the show. That is the crypto Kana me with guys Swan. That is me. The guy who has read more about Bitcoin than anybody else, you know, and we will be back here tomorrow think I'm going to have an interview. I think I'm going to be able to drop the interview that I had with David Hall Earth on the Bitcoin magazine podcast we had Much fun up there. So I think you guys will enjoy that and then we will be back later on in the week with more reads coming at you basically every single day here at the crypto economy. And one last thank you for the LTB Network. Thank you to Christian to everybody I've spoken with over there. It's unbelievably great working with all you guys and so happy to be able to share this content out on the LTB Network particularly all the eight Bitcoin magazine articles that we cover as I bring them to you in audio because I know not everybody has the time to sit down and read these things but there's just so much amazing stuff happening in so much to explore. It is a travesty that these articles don't get to everybody who's interested in reading them. So that's why I make an audio version so that you can listen while you're driving in your car while you're doing dishes while you're mowing your lawn, whatever it is guy will read to you all about Bitcoin so don't forget to subscribe share this out with everybody else, you know in the Bitcoin and crypto economy space. I love you all and until next time take it easy guys.
Another clever & censorship resistant system for identity within the Bitcoin system is being proposed. Called "Easypaysy," developer Jose Femenias Canuelo has created a system to safely & independently create a static on-chain account system, that would solve the need both of having to reuse Bitcoin addresses, & having to constantly generate new ones for every payment. Today we read the Bitcoin Magazine article by none other than Aaron Van Wirdum breaking down exactly what it is, how it works, and what it might mean for the future of interfacing with the Bitcoin system. A huge thank you to the Let's Talk Bitcoin Network and the crew over at Bitcoin Magazine for letting me cover all of their incredible content! Its exciting to join the many great shows on the LTBnetwork and get the best written works in Bitcoin to all those who don't have the time to read them. Don't forget to check out the full article plus other links to the white paper for further exploring this new tool: https://bitcoinmagazine.com/articles/bitcoin-need-accounts-one-developer-thinks-figured https://twitter.com/BitcoinMagazine https://twitter.com/AaronvanW  Do NOT miss out on Aaron's other works, here's a list of a handful of his other great articles we've covered in audio: • Taproot is Coming https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_318---Taproot-is-Coming-Aaron-van-Wirdum-e8um0c • Simplifying Lightning, The "No Input" Class https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_297---Simplifying-Lightning--The-Noinput-Class-Aaron-Van-Wirdum-e5fhoa • A Cryptoconomy Chat with Aaron VW! 