Age Verification and Sexcoin
REPOST:
I wanted to take a minute and fill in some information about the age verification feature in the new client. Age verification is a self-reported verification that is carried IN the transaction and written to the block-chain. This is accomplished through creating a flag field in the existing transaction version field. In effect, the high-byte of the transaction version carries the flags and the low-byte carries the transaction version.
We had a lot of discussion about the validity of 'self-reported' age-verification, and whether it was really worth putting into the client at all. The decision to write the feature in was accepted because self-reporting does provide merchants and end-users a certain amount of protection. If you doubt this, go to porn.com, and initiate a bitcoin purchase. This is processed with a button certifying your age. Pair that with the number of sites you can access with a button-click, and you can see that it does hold weight. In effect, the sender is certifying they are of age. As a merchant, the client has lied to you if they are not, so the client is culpable of fraud.
Also, the way we've implemented the verification actually implies that "better" is on the way. We've been looking at services like Sho-Card and a couple of others that offer very strong verification, and we have left room in the code to be able to 'fold-in' third-party verification schemes in the future. This is what we REALLY want to see.
I think the real power of this layout is that the flag is carried in the transaction, so it can be confirmed any time, by anyone (de-centralized ) in the future that age-verification was provided by looking up the transaction via the block-explorer.
Finally, I want to mention that age-verification offers protection both ways, and in some sense can make the coin useful in tangent with other payment schemes. I do picture a cam-to-cam scenario where both parties send age-verified coins to each other, providing an electronic signature that both are of age. Another scenario would be sending sexcoin with age-verification flags set as a side-transaction, with the bulk of the "traded-value" being doge or litecoin.
REPOST:
I wanted to take a minute and fill in some information about the age verification feature in the new client. Age verification is a self-reported verification that is carried IN the transaction and written to the block-chain. This is accomplished through creating a flag field in the existing transaction version field. In effect, the high-byte of the transaction version carries the flags and the low-byte carries the transaction version.
We had a lot of discussion about the validity of 'self-reported' age-verification, and whether it was really worth putting into the client at all. The decision to write the feature in was accepted because self-reporting does provide merchants and end-users a certain amount of protection. If you doubt this, go to porn.com, and initiate a bitcoin purchase. This is processed with a button certifying your age. Pair that with the number of sites you can access with a button-click, and you can see that it does hold weight. In effect, the sender is certifying they are of age. As a merchant, the client has lied to you if they are not, so the client is culpable of fraud.
Also, the way we've implemented the verification actually implies that "better" is on the way. We've been looking at services like Sho-Card and a couple of others that offer very strong verification, and we have left room in the code to be able to 'fold-in' third-party verification schemes in the future. This is what we REALLY want to see.
I think the real power of this layout is that the flag is carried in the transaction, so it can be confirmed any time, by anyone (de-centralized ) in the future that age-verification was provided by looking up the transaction via the block-explorer.
Finally, I want to mention that age-verification offers protection both ways, and in some sense can make the coin useful in tangent with other payment schemes. I do picture a cam-to-cam scenario where both parties send age-verified coins to each other, providing an electronic signature that both are of age. Another scenario would be sending sexcoin with age-verification flags set as a side-transaction, with the bulk of the "traded-value" being doge or litecoin.
It's great! sexcoin will go to moon! Thanks dev
