The listed below is a direct excerpt of Marty’s Bent Issue # 1181: “BIP21 is a no brainer.“ Sign up for the newsletter here
At the minute there is a huge UX obstacle that exists for users of various bitcoin wallet software application companies.
One of the more illuminating talks at the Bitcoin Takeover occasion that was held at the Bitcoin Commons here in Austin last Friday was a panel conversation in between Lisa Neigut (c-lightning, Blockstream), Rockstar Dev (Strike, which utilizes lnd), and Miles Suter (Cash App, which utilizes LDK) led by Matt Odell about the obstacles of the interoperability in between various applications and total UX when utilizing theLightning Network During the conversation (which must be revealed quickly) the panel relied on the subject of BIP21, a BIP that I was uninformed of however am really delighted about after concerning comprehend it.
At the minute there is a huge UX obstacle that exists for users of various bitcoin wallet software application companies. The UX around getting and sending out bitcoin deals on-chain and through theLightning Network Some wallets are on-chain just, some are lighting just, and some enable users to utilize both however require you to by hand shuffle in between the 2 when getting and sending out. Enter BIP21, which intends to repair this UX obstacle by providing users optionality when sending out. BIP21 would make it possible for QR codes that make it possible for wallet companies to consist of both a lightning billing and an on-chain bitcoin wallet address in one location.
What is required to press BIP21 forward as a requirement is for more lightning network wallets to start supporting it. Right now, when a bitcoin user utilizing a BIP21 allowed wallet scans a QR code of a wallet that does not have BIP21 allowed they get a mistake code that can be complicated and results in UX friction. If more lightning network wallets make it possible for BIP21 and enable users who are just sending out deals on-chain to be supplied with a fallback on-chain address it would bring an end to this UX friction. The highlight is that BIP21 is in reverse suitable, so there is no other way in which it might disenfranchise the male in the coma who gets up a years from now and relays a deal from a wallet he hasn’t touched in several years.
Beyond this, BIP21 makes it possible for users the capability to make a mindful choice about whether they wish to send out through the procedure layer or the lightning network. If carried out, this need to remove the requirement for various on-chain and LN UI tabs and make the negotiating procedure much smoother in between various wallets.
The initial step towards recognizing these advantages is making it so each wallet can check out BIP21 QR codes. From there, each task can start to produce experiences that enable users to produce BIP21 payment codes. You need to get large assistance for scanning prior to it makes good sense to get large assistance for producing these payment codes. Here’s to hoping wallet companies make this a concern in the future.