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Bitcoin transactions hold only static data which doesn’t include much more relevant information to look into. What if transactions can have additional information (metadata)? |
A new future of Bitcoin transactions resulting into numerous usecases💰
Many different specifications such as LNURL, WebLN and many more bought a better solution to the UX of lightning network and enhanced applications of Bitcoin.
On top of this, many broad applications such as:
- Instant payments via a web browser using Bitcoin Sats (Eg. Alby)
- Tippings for content writers, podcasts and streamers
- Streaming sats
- Instant purchases on the Web and many more came into working.
Transaction lists, as we know them from our private bank accounts, are often a simple list of transactions sorted by date. Each transaction has data like sender, receiver, amount, reason and date.
Similarly, Bitcoin transactions hold static data that doesn’t include much more relevant information to dive into it. What if transactions can have additional information(metadata)? Such as:
- Purpose of transaction
- What was given away to the user with that particular transaction
- Accessing given away items right away from and out of the wallet
- Allow users to interact with transactions depending on the additional information each transaction holds
Every transaction can store additional information as metadata which can make specifications such as WebLN more broad and applicative in terms of interactivity and extend the scope of the Bitcoin use cases in numerous ways, building a whole different future for the lightning network and Bitcoin.
This specification aims to extend existing technology standards such as WebLN to enrich transactions with additional information as structured metadata so that transactions containing static data contain more meaningful information, giving more interactivity to the transactions.