Draft for the Bitcoin Action Protocol

Hey everyone, I got inspired by some ideas from Solana actions and came up with a draft for the Bitcoin Action Protocol. I’d love to hear your thoughts. This is the Bitcoin Action Protocol Draft. So basically, Bitcoin/NOTE Actions is a way to standardize how we interact. It lets you transfer tokens and sign PSBT transactions right on the Bitcoin blockchain without having to rely on third-party services like Wallet Connect or wallets with built-in browsers for web scripts. By integrating with the Open Graph protocol, it allows for transaction previews on platforms like X, Discord, and Telegram. Plus, it plays nicely with the BIP21 Bitcoin payment protocol. Before the NOTE protocol, Bitcoin dApps were pretty scarce and mostly revolved around simple payment methods like BIP21. But now, with smart contracts coming into play, we're about to see a surge in dApps. The Action protocol is pretty strong, making peer-to-peer payments between wallets and dApps smoother, and it significantly improves user experience by tapping into social media traffic. Check out the protocol details here: https://noteprotocol.org/docs/actions/ https://pbs.twimg.com/media/GYy_LiibQAEK5vT.png

A nice view I must say but I don't quite understand how you would go with these issues or if I didnt properly understand it. Bitcoin isn't created for advanced Smart contracts. It is quite simplistic to improve security and the proposal would be limited if it would be based on the Bitcoin underlying protocol and would introduce vulnerabilities like Ethereum in the Bitcoin Blockchain if such complex Dapps are introduced. Well my biggest point is, it seems it would be reliant on a Social media like X and meta This would make its decentralized system you have portrayed centralized. And I definitely don't trust any Social media platform with privacy. Edit : About the Note protocol and sending of addresses what about cases of derivation path and Xpub differences?

So the wallet software (owner by user/sender) only need to sign PSBT transaction along with other data, rather than creating one from scratch. But FWIW, your draft pose similarity with BIP 70[1] which have privacy and centralization controversy[2]. [1] https://github.com/bitcoin/bips/blob/master/bip-0070.mediawiki [2] https://medium.com/thedarkside/breaking-down-the-bitpay-bip70-controversy-72448ea2fadb

This point also made me wary at first, but the way I understand it integrating the OpenGraph protocol for transaction previews should only lead to a "nicer" visual representation of the payment link when published via social media or sent via messenger.

The thing is, you could already sign PSBT transactions without any special software or protocols. This is something that I think would be pretty cool. It would be like how you can just post an email address to send someone a PayPal payment. Although we would have some work to do if we want to make a Bitcoin payment URI that concise (without the amount) AND preserve privacy by utilizing a different address each time. Maybe we don't see eye-to-eye on this but I think this would be nice to make requesting for payments better, instead of just more dApps.

What about if the Social media platform chooses to restrict certain previews? Or individuals that wouldn't want their transactions preview shared to the public. Okay now I get the impact of the OGP It would help in making transactions more detailed and understandable. Definitely a Good addition to payment and transactions especially to business. Using different address would improve privacy but wouldn't change the exposure of certain data. Except maybe some data could be encrypted and can be decipher by recipient. Well this would just increase complexity. Maybe use nostr as a platform but the audience can't compare to X or Meta But control should be better than a bigger audience right. Well neglect my yapping. Just typing.

OpenGraph has become the de-facto meta-data standard for social media, including the fediverse, so you're not restricted to any one social network. Also I assume the main use case for this would be crowdfunding campaigns like ICOs or the public sale of NFTs? Though I assume adding informational meta-data might have use cases for private transactions as well.

The NOTE protocol  is a solution that uses Bitcoin for transaction recording and ownership confirmation, while token and NFT data are recorded through an off-chain indexer. It employs Satoshi Nakamoto's original Bitcoin script for contract validation. Several dApps have already been developed using this protocol, which also integrates Actions technology. One example of a Bitcoin DEX is https://utxo.exchange/, where sell orders created on the platform can be shared across social media channels like X and Telegram. The PSBT transaction signature technology is used in the backend. When it comes to Bitcoin's emphasis on privacy, the key point is ensuring its practical usage. The NOTE protocol and the various technologies implemented with it bring Bitcoin one step closer to being widely adopted by people around the world. https://noteprotocol.org/

Looking at OGP homepage, it seems it's part of HTML code. So i don't see how it can be blocked unless you have control to the website. And looking at image shared by OP, it seems the OGP only contains data about how you communicate with the dApp. CMIIW. Do you mind respond to some of member feedback or thoughts rather than posting generic advertising post?

Oh so the website owner has control over what would get exposed by OGP and the platform can't really restrict the a preview but maybe block the entire website link. So the data shared would be similar to how address are shown but in this case in a user friendly manner without risking privacy and security. Clarification would be appreciated. Just got to learn about OGP from the thread.

OK, let me give you a demonstration. I posted a tweet on X to promote my DEX order https://x.com/lilong/status/1842162477444079697 . If you're using the X app on your phone, you'll see this tweet displayed using OGP technology https://noteprotocol.org/assets/images/x-63675357195872487ff72faebfa45ecc.png . Then, if you open the DEX link through X, you can open the order with a Bitcoin wallet (https://chainbow.io) that supports Action technology and purchase directly, without needing to connect a wallet first like on Ethereum. I once made a video demonstration of Action technology, and you can see it on X. https://x.com/NoteProtocol/status/1817887597945069876