Re: [OFFICIAL] █ Bitproof.io █ Say Hello to True Certification in the Blockchain
Is there a reason so that it's better to use OP_RETURN instead of using hash(signature(file.hash)) (or even only signature(file.hash) as passphrase on https://brainwallet.github.io ?
Than the first transaction will be the timestamp.
I'm missing something?
Than the first transaction will be the timestamp.
I'm missing something?
Using a hash as a private key is not as efficient as using OP_RETURN because it will require more transactions. You'll have to send some coins to the derived public key to prove existence of the hash, then you'll eventually want to transfer the coins back (2 transactions = takes more space).
Using a hash as a public key will just "burn" the coins (which is bad - increases deflation).
OP_RETURN has been created for the purpose of storing data in the blockchain, the inputs become fees and are given to the miners (no money is lost).