BTC.com to Implement BIP70

BIP 70 has been criticized by the crypto community since its implementation
27 September 2018   669

BTC.com, the "daughter" of the Bitmain mining company, introduced support for the questionable payment protocol BIP70.

According to representatives of BTC.com, the implementation of the protocol will allow to replace long purse addresses with readable ones (for example, example.com instead of 1BQ9qza7fn9snSCyJQB3ZcN46biBtkt4ee).

The system will also include a transaction confirmation function and automatic generation of return addresses.

At the beginning of the year, BitPay began using BIP 70 as the standard for generating invoices, forcing users who create Bitcoin and Bitcoin Cash payments for BitPay sales agents to use BW-70 compatible wallets.

According to BitPay, this solution allowed reducing the number of errors in the payment network to 0.27%. For comparison, in June 2017, the same indicator was 10%.

We’re always striving for new methods and partnerships to expand the use of BTC and BCH as a currency and integrating with BitPay is an important step towards transacting with retailers and merchants.
 

Alejandro de la Torre
VP of Business Operations, BTC.com

For the first time the BIP70 scheme was proposed by the developers of bitcoin Gavin Addressen and Mike Hern. With its help, they planned to improve the quality of conducting crypto-currency transactions in the commercial segment of the market.

BIP 70 has been criticized by the crypto community since its implementation, unlike the generally accepted BIP 21 scheme. Some believe that it has introduced the risk of tracking transactions in blockchain records. The situation was also aggravated by the emergence of OpenSSL vulnerabilities.

However, representatives of BTC.com assure that users should not be afraid of anything.

Earlier, the developers of Samourai Wallet urged companies and users to boycott BitPay services. The BIP70 was named as the reason.

Trust Wallet to Add BTC & Bech32 Support

At the moment, this option is available to users of iOS devices, support for Android will be added in the next 2-3 weeks
10 December 2018   98

Binance owned and ERC-20 standard tokens oriented Trust Wallet, announced the start of Bitcoin support (BTC).

As stated in the company's blog post, Trust Wallet has become compatible with the SegWit protocol, allowing to send and receive funds to Bech32 native addresses (bc1).

At the moment, this option is available to users of iOS devices, support for Android will be added in the next 2-3 weeks.

Earlier Trust Wallet announced the start of support for TRON (TRX) tokens. The wallet also supports GoChain (GO), POA Network (POA), Ethereum Classic (ETC), Wanchain (WAN) and VeChain (VET).

Recall Binance announced the purchase of Trust Wallet in July this year. The wallet is expected to become part of the upcoming release of the decentralized trading platform Binance.