BIP 47 — Reusable Payment Codes for Hierarchical Deterministic Wallets

BIP 47 (Reusable Payment Codes for Hierarchical Deterministic Wallets) lets a payer derive fresh addresses for a recipient from a shared static payment code, avoiding on-chain address reuse. Establishing the link requires an on-chain 'notification transaction' to the recipient. It saw real deployment (notably the PayNym ecosystem). Repository status: Deployed.

Debate relevance: Comes up in privacy debates about static receiving identities. Frequently compared against BIP 352 (Silent Payments), which achieves a similar goal without notification transactions. Common misstatements: Conflating BIP 47 with Silent Payments — they solve the same reuse problem differently, and BIP 47's notification transaction is itself a privacy and cost consideration that BIP 352 was designed to avoid.